Reversal of Fortune: Why the Leprechauns Are Laughing

We live in an age of Reversals of Fortune: national characteristics have transformed in major and minor countries alike around the world. As the ultra, indeed joyously reactionary English satirical columnist Michael Wharton, writing as Peter Simple, prophesied nearly 60 years ago, we now experience an era of deindustrialized, environmentalist-crazed, whimpering, effeminate Germans and brutal, thuggish, stupid, intolerant Jews – in one half of Israel, at least.

Also, who would have dreamed 40 years ago that the United States, having for so long proclaimed itself the champion of freedom and diversity around the world, would in this 21st century return to its 1960s Vietnam War delusions and obsession with dropping mountain loads of bombs on countries whose governments presume to disagree with US neo imperialism and ideological obsession with spread its brand of imagined democracy everywhere.

Meanwhile, post-communist Russia and its leaders now stand up for a genuinely multi-polar world in which different kinds of political systems and cultures should have the right to coexist without relentless wars and campaigns of hostile ideology plotted against them by the US, Britain and their catspaws.

Are such weird and truly unanticipated developments signs of a looming apocalypse? They are certainly signs of something.

Now we see the same Hegelian principles of Reversals of Polarity, Reversals of Fortune, reversals really of everything afflicting long sober, staid, prosperous stable England and once poverty-stricken, civil-war wracked, violent protesting, impoverished Ireland.

The Republic of Ireland’s economy after a few years of relative stumbles has returned to its status as the European Union’s Western Tiger. Once again, Ireland is booming at breakneck speed. Yet Britain – especially the English heartland – under well-meaning but truly hapless Keir Starmer is stumbling relentlessly towards economic ruin and civil war.

The two events are indeed organically connected. They stem from the same root cause: it is the inability of the older English to grow up, finally acknowledge they do not have a global Empire anymore and admit that their industrial technology has lagged behind its neighbors, rivals and friends now for 150 years.

In 2015, the British people voted by a narrow mandate in a referendum – only 15.1 million votes to 13.2 million – to leave the enormous sprawling European Union.

Now the EU is flooded with fundamental problems of its own – lack of any democracy and accountability at the transnational level, open borders and ultra-liberal policies drowning traditional European civilization at every level and an ideological war on traditional Christianity that really has reached an epochal scale in intensity and scope – though none dare call it diabolical.

Nevertheless, with all its manifold problems and systematic cancers, the EU remains an enormous self-contained trading block. And up to 2015, Britain enjoyed a particularly advantageous position in it.

That is because Margaret Thatcher – most long-serving, successful and truly transformational of British leaders since the 1940s, renegotiated a far more beneficial and prosperous position within the EU for Britain by 1990. She simultaneously ensured that its domestic economy was more streamlined, more welcoming to Foreign Direct Investment (FDI) and less shackled by high taxes and stultifying government regulations than any other nation in the EU.

As a result, from the mid-1980s, for 30 years FDI flooded into Britain, and long defunct industries like auto-making surged into renewal. US, Japanese and then Indian and Chinese investors sought to use these advantageous conditions from which to prosper in the giant half a billion-people-strong unified European market that Mrs. Thatcher had also done so much to create and protect.

However, it was too good to last: the outcome of the 2015 Brexit – or British Exit from the EU referendum – killed those prosperous dynamics stone dead in their tracks.

First, three criminally incompetent, worse than useless British conservative prime ministers in a row – Theresa May, Boris Johnson, and 44-day wonder (blink and you missed her) Liz Truss – stalled then bungled the crucial Brexit pro negotiations and process. This inflicted on the City of London and Britain’s industrial and business communities the worst possible conditions for investment and prosperity short of communism and socialism – uncertainty.

At long last, a real adult, Prime Minister Rishi Sunak with a serious background as an international banker himself, tried to straighten out the mess. But he was shackled by the stupidity and suicidal bigotries of his own party’s rank and file.

They never forgave him for not being the sociopathic demagogue Boris Johnson or the certifiable idiot Ms. Truss. Consequently, Sunak went down to a landslide defeat in the July 4 general election to the Labour Party under the presentable but hasn’t-a-clue wooden titan leadership of Keir Starmer.

Starmer had a supposedly “brilliant” (they always say that) career in the British legal profession. Otherwise, his entire life has been spent in the British House of Commons and Labour Party politics. None of those three careers has any connection to the practicalities of business, national security, or maintaining basic law and order whatsoever.

As a result, the British economy has plunged, and its future indicators once again look dire since Starmer took over. He is as obsessed with deindustrializing his country and stripping it of reliable, cheap electric power to heat and serve England’s rapidly multiplying elderly and impoverished young and to maintain or revive British industry.

Further, Starmer’s ambitious tax plans to pay for Labour’s truly insane visions of social engineering, unlimited immigration and full transgender rights for all have sent the great multinational corporations that prime ministers Thatcher, John Major, Tony Blair and David Cameron wooed and won to flee the Sceptered Isle forever.

And where have so many of them gone? Why tiny Ireland of course.

For Ireland, with a population of only around 5 to 6 million people, less than 9 percent of Britain’s, has long had the lowest rates of tax of any significant EU nation. And recent changes in global international tax regulations have allowed it to further intensify this long-standing advantage.

Although Ireland’s government civil service is only a fraction the size of Britain’s and lacks its storied traditions, it is far more realistic, flexible and pragmatic.

During the apparently endless years of the Brexit negotiating process after the 2015 referendum vote, Irish civil servants and economic planners were dumbfounded at the amateurishness and failure to prepare for exit from the single market exhibited by the May, Johnson and Truss governments.

This crucial planning failure was further exacerbated when the witless and amazingly superficial Johnson unleashed his pet adviser Dominic Cummings – a creature infinitely more destructive than the Roman Emperor Caligula’s famous horse Incitatus – to “reform” the Civil Service. Predictably Cummings only managed to wreck and traumatize a previously stable, competent and predictable, if hardly dynamic institution leaving only demoralized confusion and chaos in his wake.

The successive Irish governments of Enda Kenny, Micheal Martin, Leo Varadkar and now Simon Harris had nothing to do with any of these catastrophic developments. The feckless, economically illiterate English brought it all on themselves. But by being cautious, traditional, bipartisan, financially sober, sensible and responsible – all supposedly traditional English qualities – Ireland under its successive leaders has been able to reap the rewards of the escalating waves of social, political and economic insanity now raging in England on the far side of the Irish Sea.

The consequences of this enormous Reversal of Fortune are becoming ever clearer: Moody’s Ratings has changed its projection for the outlook of the Irish government from stable to positive. And Moody’s has also confirmed Ireland’s long-term issuer rating and Senior Unsecured rating at an enviable Aa3.

“The decision to change the outlook to positive reflects the prospect of sustained improvement in Ireland’s fiscal strength,” the rating company said.

In the world of global finance and industrial power, the same principles apply as Jesus taught in his Parable of the Talents in the Gospels: “To him (or her) that hath shall be given and to him (or her) that hath not, shall be taken away.” In other words, winners will do better than ever, and losers will sink ever deeper in the mire.

Moody’s recognizes this principle at work in Ireland as well: based on current policies and economic growth expectations, the rating company projects a fall in overall debts and improved prospects in debt sustainability. As major European nations and even the United States – but most of all Britain – flounder further in fiscal and political crisis. This means more major international investment – especially from East Asia – will flow into Ireland. That is especially the case as Ireland’s continued membership in the European Union is not in doubt.

Also, Ireland is gradually beginning to build up a fiscal cushion with the government’s new long-term savings funds.

“The confirmation of Ireland’s Aa3 rating reflects the solid growth potential of its competitive and affluent economy,” Moody’s acknowledged.

The rating agency Moody’s continued, “Our ratings confirmation also reflects the low level of political, banking sector and other forms of event risk.” If there is one thing international investors have a well-justified mortal terror of, it is “event risk.” And England is now overloaded with it.

Thanks to this booming macro-fiscal climate, Ireland’s labor market remains strong, with its unemployment rate expected to stay stable at around 4.5% both this year and next. The number of people in employment has never been higher, and employment growth is expected to continue.

As I have warned before in these columns, Keir Starmer’s disastrous combination of idiotic, suicidal policies and the decisive qualities of a jellyfish are already accelerating the processes of Britain’s dissolution. As a result, Scottish nationalism will rapidly and dramatically revive.

The only reason the Scottish National Party briefly appeared to collapse in this year’s July 4 general election was the far from coincidental orchestrate British media discrediting of its previous and current leaders: British Deep State Dirty Tricks were on the job again. The English are too arrogant and stupid to ever recognize them, but old news business veterans of Northern Ireland like me recognize them all too well.

However, such cheap and sordid stunts are useless against the great macroeconomic forces of history. Therefore, England will soon be stripped of Scotland, just as Austria was of Hungary after World War I, a century ago.

By contrast, Ireland is far farther on the road to peaceful unity via democratic, constitutional process than ever before in its history.

Sinn Féin the great no compromise party of Irish nationalism now commands clear majorities and pluralities in the elections of both the Irish Republic and the still supposedly British-ruled Northern Ireland. Sinn Féin in the last three elections has only been kept out of power in the Republic by the same shameless manipulation and distortion of the democratic process against the People’s clearly expressed will we have seen for years now in both the United States and France. But not for much longer.

Even on the streets of Belfast, the supporters of Sinn Féin and their primordial supposed arch enemies, the Protestant Democratic Unionists, now routinely join forces to protest against the common foes and policies that threaten them both: unlimited, unregulated immigration, liberal internationalism and the war against Christianity – both Protestant and Catholic.

Thus, as Britain disintegrates, Ireland unites. And an eventual Celtic Alliance between Ireland and Scotland, Dublin and Edinburgh looms ever closer.

Ireland rises as England falls! This would be a Reversal of Fortune such as has not been seen since the Dark Ages.

Surely somewhere in the Heavenly Regions, Georg Wilhelm Friedrich Hegel and the Leprechauns of Ireland alike are laughing.