Democratic socialist Political Party Sinn Féin wins Irish election – February 10, 2020,

So, something interesting happened in Ireland, the Democratic Socialists won the election, this is horrible news for people who invest in Ireland, which ultimately could equate to a lot of challenges for the Irish people. Based on my research this vote appears to be the Irish people’s way of pushing back against Brexit. Some people in Ireland, see the European Union as a good thing and view Brexit as a return to colonial rule. Now, I don’t want to put words into the mouth of the Irish voters, so as this victory for the Nationalist Democratic Socialists starts to spread and people all over the world start to digest the new reality more information will come out. But for now, what I do know is this could be very bad for Ireland’s economy.

‘We needed to get the muppets out’ | theguardian.com
voters on backing Sinn Féin
Many who supported the party say they did so to shake up the established order

Welfare in Ireland

The centrists Political Party’s in Ireland, have long tried to find ways to attract capital to the country. The problem with Ireland economically is that their welfare state is close to the size of Greece’s, which is why their Centrists leaders had some of the favorable tax policies they had. Now, being that populism is on the rise, it’s important to remember that populism is heavily dependent on the Populist leaders’ ability to manage the economy.

Emmanuel Macron, the current President of France his populism has proven to be an ECONOMIC disaster, while Donald Trump’s Populism so far has proven to be a net positive for the U.S economy. The real problem with Populism, however, is the faith the voters put on their leader, assuming that the leader will create the right political policies that will stimulate economic growth.

Personally I think Ireland voted for the wrong type of Populist, but at the time I’d like to see how this plays itself out because I’ve only been able to observe democratic socialism in Latin America, Italy and in Greece. Democratic Socialism also exist in Canada in the province of British Colombia and also in the Canadian province of Quebec. With that said, Ireland is more newsworthy than the countries and provinces I’ve mentioned, so getting a chance to observe what will happen with Irelands newly-elected Nationalist Democratic Socialist government will be interesting.

What does the Irish election result mean for Brexit? | theguardian.com

The worst part of a democratic socialist government is the built-in excuses, for the political establishment. ‘It’s the will of people’ the Democratic Socialists will argue and they’ll be right, this is basically, why people like me aren’t huge fans of Democracy. I believe in the Republic, meaning I believe in the law, a constitutional law to protect the liberties and freedoms of all people. To violate one persons is collectivism and collectivism in its adolescent form is Socialism.

Democratic socialism is usually the first sign of economic and social destruction of a people, it’s also typically an indication that the standard of living will decrease because one Democratic Socialists change in the law, equates to another and another and another and then before you know it, your economic and social order is based on appeasing the will of the majority.

Trump’s populism revolves around Free Markets Capitalism and Nationalism, which in my opinion still isn’t a good thing in the law term, but it’s a much better option than Nationalism and Democratic Socialism. People prefer to associate Fascism with racism but Fascism from an economic standpoint is ‘National Socialism’, so if Irelands leading party are Nationalists and Democratic Socialists, well, the markets are going to have figure out what that means exactly, which could hamper investments into Ireland at least in the short term.

I wish the Irish people all the best, I’ll keep a close on this topic.

Sinn Féin declares victory in Irish general election | theguardian.com
Party leader Mary Lou McDonald calls for talks with main rivals to form coalition

Interesting times ahead!