Simple question from layman

Gerry.L

Ok dont get sidetracked or bogg us down in economic lingo that us lay people dont understand... or go into a debate about political parties and whos better, and whos fault it was... and which department should be cut next, or what solution is best and damn those spongers on the dole. Theres a 1000 other threads all talking about that stuff. So please, none of that here.

Also I do realise it would be hard for anyone to answer this question since none of us here are psychics... but just a few educated opinions would be nice.


Obviously we are hearing alot of "the countries fudged"... "we are all in debt" and anyone that can get out, should get out.


However, no matter how bad it gets, I cant see myself leaving. As long as I have a roof over my head and food on the table I'll make do.


What Id like to know is, for the likes of me, who just want a normal life is it still possible?


Im really starting to wonder, has it only gone to pot for the ones that want to have a massive wage, a huge house, 2 cars, a yacht and 2 or 3 foreign holidays a year.

Are they ones to suffer..?


For someone like me, who just wants a regular size house, live comfortably (by comfortable I just mean at the end of the week when all the bills and groceries are sorted still have maybe 50 or 60 euro to put away).


Is that sort of life still possible..? Or is it really actually a case of *everyones* going back to the bread line..?

RichardAnd

Gerry.L wrote: »

Is that sort of life still possible..? Or is it really actually a case of *everyones* going back to the bread line..?

No it isn't. You see, the effects of this downturn are very, very subjective. Some people are in real trouble right now, some are just slightly less well, some are doing great and some are ruined for life. The only uniting factor in all of this is disunity, it really depends on the person and their situation.

This is a downturn unlike any other since, perhaps, the great depression in that it's not just old Ireland having an economic hiccup but rather a global downturn. There is still alot of money in this country and people are still buying cars and TVs but remember, we're coming from a credit furled bubble boom where things were totally out of hand. Thus, how bad this is is relative to how high we climbed.

Brussels Sprout

Given what's happened over the last number of years I think it would be foolish to speculate about what the future holds. One would hope though that the lifestyle that you describe will still be possible. For a lot of the population though that's a big come-down.

Gerry.L

Brussels Sprout wrote: »

One would hope though that the lifestyle that you describe will still be possible. For a lot of the population though that's a big come-down.

Thats what Im starting to think (and hope).. that its only the people who were on a highhorse and now are being forced down are the ones suffering.

Dont get me wrong, obviously people all across the board are getting cut- but (in my uneducated opinion) a lot of them were probably earning too much in the first place so they bought out of their means.... and thats why a lot of them cant make ends meet now.

Not because they are on such crap money after cuts, but because they still refuse to leave the big house and go somewhere realistic, and ya know, maybe even trade in that diesel guzzling beamer for something a bit more affordable.

And the reason I think that is because both my parents (their seperated and live seperarte lives) live a regular lifestyle and I dont think this recession has being too bad on them. They've never lost a wink of sleep over it.... compared to stories Im hearing about people who are commiting suicide over the debt they are in.

So i just really think, and hope to god, that a normal life will still be possible in Ireland.

johnnyskeleton

Gerry.L wrote: »

So i just really think, and hope to god, that a normal life will still be possible in Ireland.

Yes it is, in theory. Anyone who performs a productive job providing a needed good or service that someone else is willing to pay for will continue to earn. It will be difficult for them what with increased taxes, decreased public services, general inflation (goods from China, fuel, food etc will IMO increase in price over the coming years above what people are earning) but it will still be possible to survive.

However, the difficulty is that most Irish people are not particularly well equipped to provide such goods or services. It's unfortunate but there it is. Without meaning to offend you, your question suggests that you want to work in any job going, turn up at 9 and clock out at 5 and be done with it. In the short to medium term, that type of employment is not readily available.

The best thing we could see coming out of this recession is if Irish people give up their dependence on someone else employing them, whether that be the State, Multinationals or some developer. Instead, they should start to look after their own careers and productivity from the person who wants to be a CEO of a major company right down to someone who wants to make wooden toys. What Ireland lacks is a belief among people that if they lose their job and they can't find another, they can set up on their own as self employed, or join with a few of their former colleages and set up a business to be run like the one that has closed down.

But there are a few stumbling blocks to this - 1) Irish people have never really been educated towards "making jobs", they are educated towards "getting jobs"; 2) the regulatory and taxation burdens, together with the lack of support, makes becoming self employed unattractive; and 3) why break your stones trying to set up a business and getting nothing for 6 months, when you can live reasonably well on the dole instead?

macannrb

Essentially Gerry, as a nation, government companies and private individuals, we spent far to much. And largely based on increased growth and earnings. This couldn't go on, and something had to give.

The amount of times we have heard our fearless leaders say, we have turned a corner, frontloaded, the worst is over, in the last 4 years is incredible. We have even heard Pat Kenny telling us to spend our savings anywhere just to get the economy going again.

The leaders are hoping to spark confidence. And this seems to be their last trick. I would be cautious about saying it won't get worse, because thats what has happening for the last few years dispite what everyone/the media is saying

Best of luck