More succour and apologies to my reader.

I apologise to any readers who wondered why I have been silent for the last 10 months. The reason is simple: just like so many other investors I watched, paralysed by the speed of the meltdown in value of my small portfolio. Especially as selling into a losing market sometimes simply was not worth the effort. I watched as the irresponsibility of our overpaid business leaders wrecked the Irish economy and trousered loadsamoney in the process. I was roundly abused when I kept pointing out that the entire building splurge which has left so many picturesque villages and towns blighted by enormous ticky-tacky identikit and half-finished housing estates which are largely empty now, the panic which led so many to get on the property ladder was based essentially on the premise that new first-time buyers would come on board. And before long we had lenders running ads seeking to offer 125% mortgages. The entire Ponzi scheme was run by the same people we are now expected to trust to get us out of their mess. It isn't as if the banks don't have form in this area. Irish taxpayers only recently stopped paying a levy on their incomes used to to pay the debts of AIB when it screwed up in the insurance business. The same golden circle were around then too. (Don't forget that the banks lent the money to buy the field to someone who then got planning permission, and sold the land on for several times he paid for it. To some developer, who borrows the money to use the planning permission to create a new concept in rural living. The appointed builders borrow the money for the development. Some of that money was used to produce the full page ads in the ever fatter Property sections, places where 'journalists' talked up the attractions of borrowing against the value locked into your house because of the then sillly property prices. Don't forget it was bank funding which caused the current disaster) So now we have NAMA, designed to save the developers whilst lumbering the taxpayer with their bank debts. We really need to see proper professional people in charge. None should come from Ireland, because it does seem that our own locals all seem to have bought in to the neo-liberal fantasy. So the recent rise in share prices has cheered me up a bit. But just as I said earlier, I had no spare cash, because of in the collapse. The Green Capitalist is sorry that he failed to show the reader shares which have risen, albeit from levels far below those which first attracted him, and now some of the fastest-growing. I have also a blog called Wheels of Ire over at http://wheelsofire.wordpress.com where I am a bit more personal. It's also more political. If it offends anyone, well, so it goes.My opinion does matter. regardless of how stupid I am. Mind you, if you are a wing nut you will find plenty to get off on. Thank you all for your tolerance. New content coming soon as later this week.

The Banking Bailout or Succour for Speculators

It may well be true that our Government needed to guarantee the banks to the tune of 400 Billion. It is without doubt that certain Irish banks were in difficulty, the banks which chose to use historically low interest rates to fund a massive house building boom. As a means to give themselves extra dosh they financed the buying of the land, the building of houses, the marketing,and all the other sub-contractors involved in the build. And then, having taken money at all levels to bring the developments to market,they decided they needed another bite. At the jugular of another huge opportunity.

So they and their media friends-whose loyalty lay more with the Advertising Department than with their audiences, who acted as PR men for the whole charade, the well-rewarded presstitutes who promoted the new developments, growing fat on the plump property pages profits. British televison shows taught us we could all get rich developing property if not terminally thick. The ads from the finance houses rolled in,the plugs for the rapacious lifestyle, for measuring people by their house and not for themselves. And having helped create panic that not getting on the property ladder all around they sucked in parental money for deposits. And harnessed our next generation to 40 year mortgages. This meant absurdly-priced homes being thrown up with no regard or responsibility to quality or to minimising their environmental impacts. Minister Roche was the man responsible for getting his developer friends derogations from European insulation levels whilst the largest number of houses ever built were being hurriedly and profitably built. It would have added 3% to the build cost of those houses to have made them energy-efficient during construction. But no,even as their profits grew as they raised house prices on a daily basis. No. Instead the greedy devolopers and builders cut corners and showed their utter contempt for their client, because it was a sellers market. Their contempt for the environment is truly a disgrace, and says more about them than I can say. Do these gombeen men plan on having no grandchildren, and care not a jot for the sort of world for the world their great-efficiency grandkids might inherit? (Roche really should be embarrassed, and hounded out of public life. His environmental crimes will cost money as long as the houses last). So we may have a lot of people with the sub-standard, energy-inefficient, but tax-free second home, especially in the BMW region. Many of these homes will have low energy efficiency certificates,making them harder to sell,and reduce their value. With ever-rising energy costs, why buy a home which costs more to run? This boom has led to a lot of empty homes, and the mortgages on them still have to be paid.. No easy and profitable exit strategy in sight. No tenants to rent the buy-to-let pad. Especially now the Eastern European builders left.And the mortgage is probably going to up. Still historically property has always gone up in value. Which is true to a point. In the old days, the bad old days of the early 1980s when I bought my house in London at an interest rate of 16.75% and on a damn good salary, I couldn't get a mortgage even twice my salary. More usually the salary you got might get you twice your salary, as well as half your wife's. ( Yes, wife, as living with someone wasn't accepted by the banks.They needed proof of marriage. Honest.) What happens to the property and motgage if a job is lost? A major illness? It comes a nasty shock when people discover that their critical illness cover is worth bugger-all, with more get-out clauses than a Hollywood pre-nuptial agreement. The very bankers and financiers who are responsible for this mess, the economists who were assuring us only a few short months ago that there was no need to worry, that all was rosy, this thieving cartel walk away with their hands in our pockets, their debts covered and their fat salaries secured. Now they urge us to overlook how we got here, how we got into this mess,promising that we can examine this later. (Yeah, right.) How convenient! Some even now have the gall to blame us, the people they seduced into becoming so massively These are people for whom "ethics" is an English county Lenin observed that Capitalism was ready to pay any price to ensure its survival, so long as the workers get to pay that price. I wouldn't often agree with Vladimir Ilych, but have to admit he was right. Why don't we copy the model used by the Scandinavian countries when they went through a similar disaster in the early 1990s? In return for getting their assets and debt protected, the banks transferred equity to the State. At least let us, the plebs, profit when the banks overcome their difficulties, having returned to more sound and old-fashioned banking principles. And let us not ever forget just who got us here. Let us also make sure they are not allowed forget, either. Or profit on the back of our sweat.

'The best thing that could happen to the country is if no oil is found' | Business | The Guardian

'The best thing that could happen to the country is if no oil is found' | Business | The Guardian This is a really disconcerting piece showing what happens when poor countries begin to believe in the promise of undreamt-of oil wealth. It tells a story we don't hear enough about. Which may tell us a lot about our mass media myopia.

On-site admin device a hit with UK builders - Irish, Business - Independent.ie

On-site admin device a hit with UK builders - Irish, Business - Independent.ie The Green Capitalist is in favour of technology which saves energy and resources. So much the better if the tech also saves lives, as well as saving companies cash. Every year many lives are lost on construction sites, and every one is a tragedy with outwardly expanding ripples, and which leaves people bereaved. And apart entirely from the human cost there is always a cost in insurance too, to be considered. There may even be criminal charges for the building firm involved. This Irish company INSERO sells a product which was developed at Dublin City University, and which sells into the building industry. And although the construction industry may be taking a hammering here in Ireland and in the UK, it still goes on. We continue to need new roads and houses. This is the sort of new company and product we should look to see more of; a knowledge-based application invented at a university. I do not suggest that universities should prostitute themselves to the market; not all research should be expected to have immediately obvious commmercial benefit, and I wouldn't support any who argue with research for the sake of knowledge. But it is great to see it work. So this is one to keep an eye on, and I'll watch for their going public.

River use banned after French uranium leak | Environment | The Guardian

River use banned after French uranium leak | Environment | The Guardian More proof of just how safe Nuclear Power really is. Losing 75 kg of Uranium is the lowest level of accident? Really?

Scientist Warns Plasma And LCD Televisions Could Be Destroying Our Environment

Scientist Warns Plasma And LCD Televisions Could Be Destroying Our Environment We tend to think our technology must be more efficient than the old; after all, when we are all aware that even the most despised energy company is running ads to show how green it is, it seems a no-brainer that the newer must be more planet-friendly, right? Wrong. Our new plasma and LCD TVs not only are super-slim, sexy and desirable, taking up less space in theliving room, but they also use far more electricity than the old-fashioned cathode tube running in the corner. Funnily enough this is never mentioned by the ads or the keen salesmen. I had to ask twice before finally insisting on being shown that useful little plate on the back. So when I saw the headline of this article from Tom's Hardware I was expecting some scientist to simply confirm what I already knew. And I was wrong,again. I was quite stunned to read this report which claims that a gas used in the production of our new toys,nitrogen trifluoride,(NF3), is 17000 times more damaging than our current big baddie, CO2 The Green Capitalist reckons his 2002 Philips will live a while longer in the corner of my living room. Not only for environmental reasons either. Having paid £600 for the TV changing it now would mean it cost me £100 per annum, and admittedly,if I sell it on eBay I might get some cash back. Ploughing the proceeds back into buying a flash new thin telly guaranteed to push my electricity bill even higher before my CRT snuffs it doesn't seem to make sense. Besides, I have a 20" LCD screen on my PC. This news may well slow the advance in market share of the LCD and Plasma TV. I doubt for long, though, because I'm sure the producers will rapidly find a less harmful production method. So what has this to do with Green investing? It all depends on how rigid you are as an investor. Some of you may wish to avoid the makers for a while, others not.

Wave power

Wave power This is a useful look at renewables from a Norwegian perspective. Although it seems to date back to 2006, their explanations also bring up the names of companies which don't get much coverage, and which well merit a look. Certainly some of the names are well-known, and shipping company Fred Olsen is well known. Norway has stewarded its oil resources well, and has ensured a high quality of life for future citizens. Yes, it has high taxes,but that has long been the Scandinavian model. But with a certain farsightedness which shows just how other other countries have frittered away oil bonanzas by comparison, the Norwegians decided to set a significant part of their oil revenues aside,as a hedge against the inevitable end of black gold.If any country has demonstrated that popular buzzword 'Prudence', then this one is arguably it. The Norwegians may even have a claim on having created the first national sovereign fund. Here in Ireland there are several companies which are actively testing full-size prototypes, but nome seem yet ready for an IPO. In the current climate,when IPOs are as thin on the ground as happy bankers that is hardly a surprise. But one day soon some of these technologies will come to the market for funds. When they do, The Green Capitalist will alert readers,and urge them to fill their boots.

Ulster Bank: Press Releases - 25th February 2008

Ulster Bank: Press Releases - 25th February 2008 I came across this when doing some research into photovoltaic finance. Ulster Bank in Northern Ireland offer special terms and mortgages to encourage home-owners to install PV Panels. Now,it would be interesting to know if the offer still exists, given the current credit squeeze. So an email has been sent to the bank, and watch this space!

BBC NEWS | Business | 'Green' energy spending on rise

BBC NEWS | Business | 'Green' energy spending on rise Reading this excellent piece from the Beeb I felt a strong sense of deja vu, or of an echo of something familiar. I imagine this is shared by readers who know me. About 1995 their eyes started to glaze over when I banged on about this ecological stuff. And how much potential it had. The Market has a lot of money sloshing around at the moment, as irrational behaviour of panicked investors, the coming home to roost of really dodgy behaviour by their oh-so-clever acned geniuses who have slashed stockholder value in their banks (and who remain employed), and the stock market slide has made people fearful of equity investing. Property too no longer seems a safe haven. Gold, Commodities and most other areas still have potential downsides,and folk who have just seen the value of their pension pretty much halved are wary,if not quite leery about putting their cash down. And let's not forget that institutional investors need to invest in something.