There is no recovery

whiteonion

There has been alot of talk about a so called "recovery" in the economy, well I haven't noticed it. My salary is now 8K below what I had 2 years ago.

The CEO of Wal-Mart says there is no recovery, at least not yet.
http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm

What we are experiencing in the Western World is inflation, no recovery. Everything will get more expensive. I expect inflation to destroy us all. Ragnarök is coming.

Kevin Duffy

whiteonion wrote: »

Ragnarök is coming.

Quick, look busy.

Turtyturd

whiteonion wrote: »

Ragnarök is coming.

Another Thor thread.

admiralofthefleet

whiteonion wrote: »

There has been alot of talk about a so called "recovery" in the economy, well I haven't noticed it. My salary is now 8K below what I had 2 years ago.

The CEO of Wal-Mart says there is no recovery, at least not yet.
http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm

What we are experiencing in the Western World is inflation, no recovery. Everything will get more expensive. I expect inflation to destroy us all. Ragnarök is coming.

this is ireland, not america

EverEvolving

whiteonion wrote: »

There has been alot of talk about a so called "recovery" in the economy, well I haven't noticed it. My salary is now 8K below what I had 2 years ago.

Those extra long lunch breaks will reflect on your annual salary...

Cookie_Monster

whiteonion wrote: »

Ragnarök is coming.

what's that ship from Homeworld 2 got to do with anything?

Will it take us all away to a new planet?

Naikon

It will take 90 years minimum to pay off the IMF/ECB loans, so I won't expect any reasonable growth until that point. At least not to the level we witnessed before the **** up.

TheZohanS

whiteonion wrote: »

There has been alot of talk about a so called "recovery" in the economy, well I haven't noticed it. My salary is now 8K below what I had 2 years ago.

The CEO of Wal-Mart says there is no recovery, at least not yet.
http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm

What we are experiencing in the Western World is inflation, no recovery. Everything will get more expensive. I expect inflation to destroy us all. Ragnarök is coming.

tl;dr: Walmart in subtle profit warning.

strokemyclover

admiralofthefleet wrote: »

this is ireland, not america

Ireland being a louse in the pubic hair of America

cml387

I thought Ragnarok was the leader of the Fighting Uruk Hai.

Ghandee

Ffs, booms and recessions come an go all the time O.P!
It'll not be long until it goes full circle here again, enabling us to squander, and fück it all up again.


In the mean time lets start drinkin tae and talkin shïte!

For Forks Sake

Reads OP, reads replies, check to see who OP was, realises its another whiteonion thread, leaves.

sock puppet

cml387 wrote: »

I thought Ragnarok was the leader of the Fighting Uruk Hai.

That might work out well for our economy then. They seemed like a pretty industrious bunch.

peasant

Somewhat closer to home, in the EU, there is a recovery. Most pronounced in Germany at the moment where exports are booming and for the first time in a long time unemployment figures are coming down noteably and wages are going up (ever so slightly)

Unfortunately that's rather bad news for Ireland, as inflation is also rearing its head in Germany and the ECB will be busy raising interest rates to keep it in check.

Higher interest rates are not what we want while sitting on a mountain of debt.

whiteonion

Wages are rising rapidly in China, people over there are getting more bold and workers are striking to fight for their rights. Their salary increases will lead to a rapid increase in goods sold over here.

We will suffer an inflationary depression. Be prepared. It will be like an endless winter.

Dravokivich

OP, I dare say most of the negative threads in AH lately have been started by you...

Cheer up for fúcks sake!

peasant

whiteonion wrote: »

Their salary increases will lead to a rapid increase in goods sold over here.

If anything that will make Chinese made goods more expensive, giving local products a fighting chance ...that's good news really.

starbelgrade

Wah, wah, wah, misery, moan, recession, wah.

Meh.

If you've food in the fridge, a few quid in the pocket & internet access, things are grand.

You'd swear we were all homeless & starving the way people go on these days.

Aoifey!

whiteonion wrote: »

Wages are rising rapidly in China, people over there are getting more bold and workers are striking to fight for their rights. Their salary increases will lead to a rapid increase in goods sold over here.

We will suffer an inflationary depression. Be prepared. It will be like an endless winter.

I like winter

thebigbiffo

starbelgrade wrote: »

Wah, wah, wah, misery, moan, recession, wah.

Meh.

If you've food in the fridge, a few quid in the pocket & internet access, things are grand.

You'd swear we were all homeless & starving the way people go on these days.

eastenders....

starbelgrade

thebigbiffo wrote: »

eastenders....

Innit!

Dionysus

What do you mean no recovery?

In The Irish Times today, 29 April 2011, there is somebody looking for €7.5million for one acre "approx." in Dublin 4.

We're flying!

dr.bollocko

Not...
Not an optimist are you whiteonion?

Naikon

dr.bollocko wrote: »

Not...
Not an optimist are you whiteonion?

Realism ftw!

whiteonion

dr.bollocko wrote: »

Not...
Not an optimist are you whiteonion?

I'm not an optimist or a pessimist.
I'm a realist. I see things the way they are and not how I want things to be.

BickNarry

whiteonion wrote: »

I'm not an optimist or a pessimist.
I'm a realist. I see things the way they are and not how I want things to be.

Are you suuuuuuuuuuure?

Orando Broom

whiteonion wrote: »

There has been alot of talk about a so called "recovery" in the economy, well I haven't noticed it. My salary is now 8K below what I had 2 years ago.

The CEO of Wal-Mart says there is no recovery, at least not yet.
http://money.cnn.com/2011/04/27/news/companies/walmart_ceo_consumers_under_pressure/index.htm

What we are experiencing in the Western World is inflation, no recovery. Everything will get more expensive. I expect inflation to destroy us all. Ragnarök is coming.

I've an uncle working down near NAMA and he's heard it's Armageddon that's coming. Sure you don't know who to believe.

peasant

peasant wrote: »

If anything that will make Chinese made goods more expensive, giving local products a fighting chance ...that's good news really.

Do we have even one Irish substitute for a Chinese product?

Panrich

Deleted User wrote: »

Do we have even one Irish substitute for a Chinese product?

Bacon and cabbage?

Wibbs

Deleted User wrote: »

Do we have even one Irish substitute for a Chinese product?

Naw but not si long ago we didn't have microsoft, google and ebay either.

China's the one looking shaky in my humble. If nothing else a race to the bottom in profit margin and its unsustainable. Not unless they've worked out a new way to do economics. Big government control will only work short term for them. So they go shaky? Like peasant said quids in for europe and us. Why buy tat from China, when you can by the same tat, likely better quality, from sean, gunther or pablo down the road?

peasant

Deleted User wrote: »

Do we have even one Irish substitute for a Chinese product?

One example:
Sligo used to be the tool making capital of Ireland (injection moulding tooling that is)
That has pretty much dried up due to insanely cheap Chinese competition.
Even with months and months of lead time (due to shipping) and difficulties in communication, most of the tooling these days is done in China.
Let Chinese labour cost rise and lots of it will come back, for speedy delivery and easier communication even if Irish tooling is still a little dearer.

There are plenty more examples like that for products that were strong in Ireland/Europe and moved to China on price alone.
Ireland/Europe still has a big technolgical and logistic advantage and once prices even out some more will regain lost ground

Wibbs

Wibbs wrote: »

Naw but not si long ago we didn't have microsoft, google and ebay either.

China's the one looking shaky in my humble. If nothing else a race to the bottom in profit margin and its unsustainable. Not unless they've worked out a new way to do economics. Big government control will only work short term for them. So they go shaky? Like peasant said quids in for europe and us. Why buy tat from China, when you can by the same tat, likely better quality, from sean, gunther or pablo down the road?

I don't know... My opinion is pretty worthless but I think an economy like China with a mix of communism and capitalism is very powerful. You have very educated people pointing a gigantic capitalist business system in whichever direction it wants. Countries like the US can only direct their economies through fiscal and monetary policy.. I'd be surprised if China messed this up.

peasant wrote: »

One example:
Sligo used to be the tool making capital of Ireland (injection moulding tooling that is)
That has pretty much dried up due to insanely cheap Chinese competition.
Even with months and months of lead time (due to shipping) and difficulties in communication, most of the tooling these days is done in China.
Let Chinese labour cost rise and lots of it will come back, for speedy delivery and easier communication even if Irish tooling is still a little dearer.

There are plenty more examples like that for products that were strong in Ireland/Europe and moved to China on price alone.
Ireland/Europe still has a big technolgical and logistic advantage and once prices even out some more will regain lost ground

Fair example.. But inflation in Ireland has been pretty big since we lost business to China. I'd be surprised if Chinese labour costs ever get high enough that producing the product here will be cheaper. That and the fact the Chinese government will probably adjust their currency to keep them competitive.