quotes from circa 2006/2007 about economy

kdowling

i would be very interested to hear quotes from politicians and economists etc about the economy and housing bubble bursting circa 2006/2007.

good predictions and bad predictions.

kdowling

here's a few to get us started

Irish Times, 28 April 2007:

"On the other side of the election we'll get back to normality. And I think that normality will be the soft landing. The construction projections were that we will move from something like 93,000 houses to 80-something. Now that's not going to create any kind of a difficulty."

RTE, July 2007:

"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something."



Fianna Fail website , September 2007:

"But there is no place for negativity. No need for any pessimism. Above all, there is no place for politically motivated attempts to talk down the economy and the achievements of our people across all sectors."

Irish Times, 19 Sep 2008:

"Bank of Ireland shares are € 3.80 today. Now if I meet you here next year, or the year after, do you seriously think Bank of Ireland shares will be € 3.80? I'd go out and buy Bank of Ireland shares . . . that's what I'd do."




guess who made these predictions?!!!

zephyrz

kdowling wrote: »

here's a few to get us started

Irish Times, 28 April 2007:

"On the other side of the election we'll get back to normality. And I think that normality will be the soft landing. The construction projections were that we will move from something like 93,000 houses to 80-something. Now that's not going to create any kind of a difficulty."

RTE, July 2007:

"Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something."



Fianna Fail website , September 2007:

"But there is no place for negativity. No need for any pessimism. Above all, there is no place for politically motivated attempts to talk down the economy and the achievements of our people across all sectors."

Irish Times, 19 Sep 2008:

"Bank of Ireland shares are € 3.80 today. Now if I meet you here next year, or the year after, do you seriously think Bank of Ireland shares will be € 3.80? I'd go out and buy Bank of Ireland shares . . . that's what I'd do."




guess who made these predictions?!!!

None other than Bertie the genius

wiseguy

Fianna Fail website , September 2007:

"But there is no place for negativity. No need for any pessimism. Above all, there is no place for politically motivated attempts to talk down the economy and the achievements of our people across all sectors."

The above is still being parroted out by several users on this forum.

monkeybutter

kdowling wrote: »

Irish Times, 19 Sep 2008:

"Bank of Ireland shares are € 3.80 today. Now if I meet you here next year, or the year after, do you seriously think Bank of Ireland shares will be € 3.80? I'd go out and buy Bank of Ireland shares . . . that's what I'd do."


guess who made these predictions?!!!

He may have just been repeating an earlier comment, but I remember hearing that on the radio, he was speaking maybe on the george hook show, they were discussing the very important topic of what he should now be called since he had stepped down, yawn and he came out with that.

Note that he hadn't actually put his money where his mouth was on the issue.

He is the worst Taoiseach we have ever had.

Sand

"The OECD’s assessment of Ireland’s economic prospects for next year [growth of 2.3%] broadly reflect the Department of Finance’s view.

"Its outlook for this year, however, is out of line with our thinking and that of the consensus at this time

The Minister for Public Expenditure and Reform, May 25th 2005, reacting to OECD criticism of Irish economic growth prospects.


Oh wait, that was May 25th 2011. How times change.

blacktalons

Mary Harney should bring about her resignation. This is the woman who, as Tánaiste, said the country was ‘awash with money’. She’s obviously done her best to spend as much of it as she could :pac::pac::pac:

dublin1904

'The cranes will disappear from the skyline, the unemployment queues will grow and the growth rate will stop.'
Minister for Justice, Michael McDowell (11 July 2006) - warning us what would happen if Labour and Fine Gael get back into government

'I don't think people at home realise what other EU states are having to do to bring their public finances into order.Germany has had zero growth in public spending in recent years, Portugal has cut pensions and Italy held a mini-budget after its election The Irish economy is being managed in a way to avoid these things.'
Finance minister Brian Cowen (11 July 2006)

'The danger with the residential market is that, if you have a blip, the banks will move in so you have a domino effect that would create problems for people, particularly investors. However, the equity in the housing market is still very strong, which is a positive. The commercial market is very bullish. There is a wall of money out there chasing investment so the outlook is very positive. The immigration impact will have a softening effect on the market. Banks need to be mature, and not overreact to exacerbate the problem - 5 per cent of non-performing loans is no big deal.'
Sean Fitzpatrick, chairman Anglo Irish Bank (7 December 2006)

Over on the propertypin there is a thread with 34 pages of quotes from the bubble era all collated:

http://www.thepropertypin.com/viewtopic.php?f=4&t=2631&start=0

save yourselves a bit of work searching around