recession!!how bad do you think things will go?

asdasd

Ireland- Riots on the streets, Ireland kicked out of Europe, Hyperinflation, food queues, internment camps, mass emigration.

World- Desperate Saudi & China sell US bonds. Dollar collapses. Global Derivatives build up collapses. Hedge Funds collapse. Mass food shortage. US halts wheat exports. Countires halt all food exports. Riots worldwide. Revolution in China, Saudi, Mexico, Eastern Europe. India nukes Pakistan. Israel nukes Iran. US invades Canada....?

<warren buffet>Time to buy stocks.</warren buffet>

Húrin

Depends on what the person thinks of what words like "bad" "want" and "need" mean.

Esel

1989 - the fall of communism
2009 - the fall of capitalism

Yiz can quote me on that!

mumhaabu

June 2009 Fianna Fail suffers the biggest election defeat in Irish political history.

October 2009 82% of the Irish electorate defeat the Lisbon treaty again, the following day Brian Cowen resigns as Taoiseach, Micheal Martin elected new leader of Fianna Fail.

Mid November 2009 as unemployment goes over the half a million mark and the IMF are now running the Department of Finance 500,000 people march onto Kildare Street led in front by Eamonn Gilmore and Richard Bruton (New FG leader) demanding a general election.

In angry exchanges in the Dail the John Gormley announces his resignation as Minister for Environment and urges his party colleagues to vote with the opposition in a vote of no confidence.

Late December the Government collapses and a General election is called for January 2010.

Unemployment now stands at close to 29%, Ryanair and Aer Lingus announce massive profits and heavy load factors on flights departing Irish Airports, Qantas and British Airways begin flights to Australia and New Zealand from Shannon Airport. Air Canada increase capacity to Canada 900%. Ireland population drops below 4 million again as the great age of Ireland is finally over.

At the 2011 Fianna Fail AGM the decision is taken to wind down the party.

2012 the lights were turned off.

8012 Scientists today digging in an unoccupied Island to the far west of Shanghai in Eurasia during construction for another trans Jupiter port discovered ancient archaeological remains of an Ancient Civilisation, scientific reports that a great idol called Ahern led his country to destruction in the year 2012. International agreement in Pudong is that the long lost city of Dublantis has been found.

cock robin

What recession are ye talking about ? Cause if you people really think what were experiencing at the moment can be likened to a recession, then we really are fcuked. So a few wealthy balls of fat lost alot of dough cause the share price is sh1te. New car sales are down and ball of fat cant update last years beemer or take a soujourn trice a year in the oul villa in Spain. So fcuking what. To the ordainary Joe & Josephine soap,the recession started when they had to work like cnuts just to afford the massive mortage repayments on a property that ball of fat built for fcuk all and then charged them a kidney for. Ordainary hard working people who behaved with honesty and integrity are now to pay for ball of fat's mistakes. We will still be able to eat wont we. The wealth of this country has been squandered by ball of fat. We must learn from this and move on. Elect a new goverment that can actually live amongst the people and have the respect of the nation. I shall shed not one tear for ball of fat and neither should you. As long as you can feed your family fcuk the bank's.

Hande hoche!

Muumhaabu that was just amazing.

Omnipresence

Hande hoche! wrote: »

Muumhaabu that was just amazing.

I agree .. awesome ;-)

I feel things will be "closer" to this outcome than the real irish attitude of "a shure is gonna be bad but not that bad"

yis haven't a clue what's on the way

Brians "address to the nation" which will happen over the next couple of weeks is going to be the start of interesting times for ireland.

Piste

There seem to be a lot of people on this forum saying "oh it'll only affect those with massive houses and ten cars and villas all over the world".

Wel guess what, it might affect those few, but the majority to be the hardest hit will be ordinary people with moderate homes and one car who have a family to support. When it happens to you the smug grin will be wiped off your face.

Jumpy

Collie D wrote: »

Screw that. I want to be around with all the three breasted women as Total Recall has led me to believe

I have a recommendation for you then... GET YOR AHS TO MAHS!

cianclarke

Hande hoche! wrote: »

Muumhaabu that was just amazing.

An amazing load of ****e, yeah.

Black Swan

tallaght01 wrote: »

My parents have just lost thousands off their pensions.

Actual banks are going bankrupt.

Raises another question... Where did the money go? When the DOT-COM bubble burst, lots of investors had fled to the real estate market. Where did these investors go...the ones who helped themselves while the market was still high and got out in time, contributing to the bursting of the real estate market? Makes you wonder if we are all fools played by the rich few, who only get richer?

97i9y3941

it was all credit credit credit,the small builder who came a big lad over night bought up his house and his suv and fancy holidays abroad and restaurants whilst he was hopeing to build more houses,people started to cop on and realise that we where getting robbed and overpriced,and it started to slow and slow down.

personally i think the celtic tiger ****e was basically like the soviet union,we had the minister all time going ah sure we have a booming economy and everyone is better off and jobs and stuff,whilst eddie hobbs and george lee where hushed up even do they knew it was coming down the line

problem with college aswell,there is too many graduates now and not enough jobs,and sometimes its proven that you woundnt need a college degree to work in a factory as many of companies now are going to countries that need staff to just put things together.

Black Swan

Fred83 wrote: »

it was all credit credit credit,

That's certainly part of the explanation, but not all of it. In US Great Depression many of the ultra-rich families sold before the Crash when stocks were high. They had huge positions in the market, and when they sold, it contributed to the fall. They then bought back stocks at penny prices of corporations whose book value exceeded their temporarily fallen stock price. When the stock gradually rebounded, they were richer than before the Great Depression.

97i9y3941

i think the gov is getting too much blames at time,when you realise some of it was by people themselfs and the banks too,who where giving massive cred cards to the ordinary joe

Black Swan

Fred83 wrote: »

i think the gov is getting too much blames at time,when you realise some of it was by people themselfs and the banks too,who where giving massive cred cards to the ordinary joe

Oh, you are focusing on the runaway credit situation? Well, the Credit Bubble has not completely burst yet. In Irvine California the Feds (FDIC) are opening an office that will be filled with accounting-auditor-fed regulator types (600 employees announced) that will be preparing for over 100 different banks to fail in the United States during 2009 when the Credit Bubble completely bursts in America. So to answer the question of this thread, in America they have not hit bottom yet, and America will drag all its trading partners with them!

97i9y3941

im kinda thinking both mate,i mean,there was some people,given credit cards who had a massive credit limit

tommyboy2222

June 2009 Fianna Fail suffers the biggest election defeat in Irish political history.

Because 90% of the population vote for Obama!

Save us Obama!!

CL32

I'm in the drinks industry so I'm pretty safe. Its a sad fact but if ten men get the sack one is going straight to the pub and is going to stay there. (before a warrior has a go at me I know this from very, very bitter experience)

This is going to teach a generation and re-teach an older generation the value of money. Hopefully while it still has some value.

PullMyFinger!

GaNjaHaN wrote: »

We will become a 3rd world country

:rolleyes:

Do you know what that even means?

noel farrell

no one has a clue from the great to small it will be good for us in the long run it will give people a good dose of cop on

Blue_Lagoon

Blue_Lagoon wrote: »

In US Great Depression many of the ultra-rich families sold before the Crash when stocks were high. They had huge positions in the market, and when they sold, it contributed to the fall. They then bought back stocks at penny prices of corporations whose book value exceeded their temporarily fallen stock price. When the stock gradually rebounded, they were richer than before the Great Depression.

There are plenty of Irish bank shareholders who appear to be doing just that, right now, buying back shares they sold six months ago at a fraction of their original price!

Others are playing the money markets, talking down the £ $ & € in turn as they make a fortune on the fallout.

galwayrush

We won't starve, there's plenty of rats to eat.:D

galwayrush

galwayrush wrote: »

We won't starve, there's plenty of rats to eat.:D

https://www.youtube.com/watch?v=nYUjNQrokeg

thebman

I think things haven't even started to kick off yet TBH.

This round of layoffs is only preparing for the worst. When the worst hits and its worse than these companies expected, more people will go.

There are a 1/3 of the jobs in the market there used to be with about 20 times the number of people applying for them at the moment and it isn't getting better anytime soon.

There are few industries that withstand this for the moment. IT might because it is always run on minimum anyway, always has a shortage of graduates too but not really since thats an excuse to try to keep wages down. Sales because they want to keep selling and finance because you got to look after the books.

Mostly manufacturing and retailers going to the wall because of other businesses I think. Construction is obviously completely fooked. Jobs in banking are still the safest in the private sector at the moment.

Quazzie2002 wrote: »

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

The only problem with that is it will be more profitable to be on the dole for some people because of this.

phasers

I don't know, but I've planted loads of potatoes in my back garden.

I just hope the blight doesn't set in!

Duckjob

Once I can avoid getting "the consumption" it'll be grand

freire

Duckjob wrote: »

Once I can avoid getting "the consumption" it'll be grand

galwayrush

phasers wrote: »

I don't know, but I've planted loads of potatoes in my back garden.

I just hope the blight doesn't set in!

Probably going to be a potato tax.:rolleyes:

freire

galwayrush wrote: »

Probably going to be a potato tax.:rolleyes:

Mariiikar

piby wrote: »

Mid-2009: Recession starts to take hold on all sectors of the economy
late-2009: Irish population begins to become more and more disillusioned with faltering economy and failure of government to tackle issue
Early-2010: Housing and banking sectors collapse completely. Civil unrest and public demonstrations grow. Government calls in Defence Forces to tackle large scale riots. Other governments around the world report similar problems
2010-2011: Government fragments and begins to loss all influence. Is eventually toppled by rival vigilante factions who are themselves unable to keep control.
2011-2013: General period of anarchy
2015: Nuclear states become desperate. WWIII begins. 17 days later it is all but over.
2018: Humanity begins to rebuild. The word 'recession' become illegal!

Might not be too far off at this stage n its only getting worse! World expected to change as we know it 2012. I can see it happening...