Globe and Mail Bullish on Ireland

State of total denial

Nov 22nd, 2010 | By Coco Cabrera | Category: Business

Cash-filled envelopes

Calling to mind better days for unbridled Capitalism when Brian “no whore like an old whore” Mulroney and and US President Ronald Reagan could hold hands and sing, The Globe and Mail, Toronto’s National Newspaper, has endorsed the Irish economic model.

The editorial in today’s edition, “Irish eyes will smile again,” says the “the Celtic tiger phenomenon was not a (sic) illusion, in spite of the Irish government’s impending insolvency.”

The editorial champions the low corporate tax regime that preceded Ireland’s collapse, though concedes that profiteer driven real estate bubbles may be a bad thing.  The paper reasons that Ireland’s course was the right one, even if it took the nation off a cliff.

URnews media analyst Grant Keillor sees in the bizarre editorial not an unwillingness to face fact but a nostalgia for a simpler time when advocacy of unregulated markets and open trade with low wage totalitarian countries was seen as wholesome. “Contemporary reality hasn’t been great for the Globe,” says Keillor. “Their reluctant foray into digital media has been a mess, and many of their core beliefs are now known to be worthless. I don’t see this as being stupid so much as being wistful.”

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