Here's something you probably didn't know: Ireland today is the richest country in the European Union after Luxembourg.

Fascinating, because this really didn't seem to be the feeling on the ground in Ireland. They still have a very "underdog" and "down and out but still kicking" mentality. I attribute this to being hard to discern where you are on a derivative -- and GDP is a derivative indicator of wealth production and distribution. One looks at the Old Money wealth of Europe, and assumes that it is prosperous without noticing that your boat is rising faster than theirs.

The results have been phenomenal. Today, 9 out of 10 of the world's top pharmaceutical companies have operations here, as do 16 of the top 20 medical device companies and 7 out of the top 10 software designers. Last year, Ireland got more foreign direct investment from America than from China. And overall government tax receipts are way up.

The End of the Rainbow - New York Times