Basic Economics Lesson for Irish People

OurLadyofKnock

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

SteelyDanJalapeno

Have you tried turning it off and on again?

doubleglaze

I don't care how much money people borrowed during the bubble years, as long as I don't have to pay it back for them.

MrStuffins

Er............ we all got boats and coke and hookers and sh*t and now you're footing the bill!

Joke's on you Knock Lady!

Jet Black

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

The sum total you owe despite not borrowing = 10% of your wages for the rest of your life
The sum total of high horses = 1

Poor Uncle Tom

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

What do you need money for, you can throw out an ould miracle whenever you need it.....:D

OurLadyofKnock

Jet Black wrote: »

The sum total you owe despite not borrowing = 10% of your wages for the rest of your life
The sum total of high horses = 1

Which is why I am leaving this country.

Slurring "you'll never beat the Oirish..." as we are four goals down in a pub this summer is not the panacea I need.

Uriel.

OurLadyofKnock wrote: »

Jet Black wrote: »

The sum total you owe despite not borrowing = 10% of your wages for the rest of your life
The sum total of high horses = 1

Which is why I am leaving this country.

Thank God for miracles. Dont let the door hit you on the way out

Johnny Bitte

Slowest slow clap clap clap clap just for you!

The door is thata away lady muck!!

efb

The house of miracles must be raking in the dough for ya- gullible Irish people parting quickly with their money and all that!

Anyone for the last of the knock rock???

MrStuffins

OurLadyofKnock wrote: »

Which is why I am leaving this country.

Don't let the door hit ya on the spot where Joseph told ya "Sure this time it'll be impossible for ya to have another little beardy fella" on the way out

buck65

Some of us borrowed and paid and are paying our debts. It wasn't my fault I had to pay over the odds to buy a home.

TheZohanS

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

You do realise that part of what we owe now is due to the fact that our taxes were ridiculously low due in part to the fact that the economy was being funded by the property bubble?

You may not have borrowed money but you certainly benefited from the knock on effects from those that did.

Deal with it.

stevenmu

buck65 wrote: »

Some of us borrowed and paid and are paying our debts. It wasn't my fault I had to pay over the odds to buy a home.

Yes it is, it was people paying way over the odds that fueled the boom.

(but fair play for paying back your debts)

Esoteric_

I never borrowed money either, but you don't see me putting myself on a pedestal above everyone else. Are you really that blind that you can't understand that the boom wasn't a boom for everyone? My family sure as hell couldn't afford **** in the boom, so my parents took out a couple of loans to feed and clothe us. Despite the recession hitting, they have paid them off in full. Not everyone spends their loans on coke and hookers, just so you know. Poverty still existed during the boom, and some people needed money to live. It's that thing that buys housing and food and clothes, not just cocaine and alcohol.

buck65

buck65 wrote: »

Some of us borrowed and paid and are paying our debts. It wasn't my fault I had to pay over the odds to buy a home.

you didn't have to buy the home

Ghost Buster

I took out a mortgage in 2001. We took out the bare min' to build our house to a liveable standard i.e concrete floors, heating, plumbing and furniture from the Super Value stamps thingy system!
We were offered decorating money. We declined and did it ourselves including hanging doors, skirting boards, laying floors and tiling all of which i had to learn how to do.
We were offered money to furnish the house. We declined and made do with Super Value furniture and second hand stuff we had gathered over a few years.

We were offered money for landscaping and gardening. We declined and did it ourselves.
We did not install a fitted kitchen until our SSIA came through despite being offered money for 'additional and unforeseen extras"
It took us until last year to finish our house fully and even indulged in a suite of furniture not supported by planks:D
WE are not badly off now and were not then but call it a sixth sense or intuition. Call us boring, call us sensible. Im not bothered:rolleyes:
We are now paying off the premium of our mortgage, are able to over pay by €100 per month and should have it paid off by 2018.

Ummmmmmm. Im not sure how to end this post.... Hows about IM SMUG :P:P:P;):D:o:cool:

endabob1

Ghost Buster wrote: »

We are now paying off the premium of our mortgage, are able to over pay by €100 per month and should have it paid off by 2018.

Assuming you don't lose your job between now and then.....

lastlaugh

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

Ohh, well aren't you a little 'goody two shoes'?

AeoNGriM

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

Thanks for the free money, sucker!

Trololololol!!

davet82

OurLadyofKnock wrote: »

Deal with it.

and I resent having to pay to bail out the rest of you.

I dont mind paying the bail out for the rest of you, I would have only pissed it up against the wall anyways

Timistry

If you don't have it, don't spend it!

/thread

Wattle

OurLadyofKnock wrote: »

Which is why I am leaving this country.

Slurring "you'll never beat the Oirish..." as we are four goals down in a pub this summer is not the panacea I need.

Come on now enough of that fatalistic talk. We might get a draw against Croatia.

Ghost Buster

endabob1 wrote: »

Assuming you don't lose your job between now and then.....

This could happen to anyone and so we took out the mortgage we did with this in mind. If either of us did lose our job then we dump the over payment and our mortgage is so low we could pay it from the dole. We also have lots of luxuries and non essentials we can dump. Was discussing this with my wife and she reckons as both of us had poorish up-bringings we never had this entitlement attitude and have an aversion to being in debt. The only borrowing our parents ever did was for absolute essentials. Going into debt for a holiday, 4x4, landscaped garden, ensuites etc is utterly alien to us.

Doc Ruby

TheZohan wrote: »

You do realise that part of what we owe now is due to the fact that our taxes were ridiculously low due in part to the fact that the economy was being funded by the property bubble?

The taxes were fine. What is ridiculous is trying to force taxes up to get bubble level revenue.

lemme

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

Is that you Christina Gallagher ?

Give my granny back her house

Chuck Stone

This is for you.

Temptamperu

The trick to it all ladies and gentlemen is, Borrow as much as you can get in debt as deep as you can dont buy a house. Credit card it all to hell your only going to die anyway.
F**k the economy F**k the banks and thank god for me. :cool:

DoesNotCompute

Ghost Buster wrote: »

We did not install a fitted kitchen until our SSIA came through despite being offered money for 'additional and unforeseen extras"

So you personally benefited from the SSIA scheme, and got a 25% return on every 4 euros invested. Where did the govt get the money to fund such decadent schemes? By giveaway budgets and giving away money as if it were free.

We are all now paying for your benefitting of schemes such as the SSIA.

RichieC

Why is economics in the sciences sub forum? It should be in soc/religion beside a&a and christianity..

davet82

Temptamperu wrote: »

The trick to it all ladies and gentlemen is, Borrow as much as you can get in debt as deep as you can dont buy a house. Credit card it all to hell your only going to die anyway.
F**k the economy F**k the banks and thank god for me. :cool:

Temptamperu for Taoiseach! :cool:

Andy-Pandy

I had the time of my life during the tiger years. Coke and yokes and lots of techno.

SafeSurfer

OurLadyofKnock wrote: »

Which is why I am leaving this country.

Slurring "you'll never beat the Oirish..." as we are four goals down in a pub this summer is not the panacea I need.

Where are you heading for? Lourdes?

Attabear

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom=0

and I resent having to pay to bail out the rest of you.

But I thought we were a team. (weeps)

davet82

Andy-Pandy wrote: »

Coke and yokes and lots of techno.

Early alzheimer's for you then :rolleyes:

Archeron

I can see the credit card application form now.

Name : Our Lady of knock.
Occupation : Earthly mother of the true son of God and Queen of Heaven.
Time in current job : 2012 years.
Residing in : Everywhere, the kingdom of God is inside you and all around you.
Other existing debts : The sins of mankind.

Cant see many banks issuing a platinum card on that back of that.

smash

Where's the Economics Lesson here? All I see is a load of whigning!

Attabear

Archeron wrote: »

I can see the credit card application form now.

Name : Our Lady of knock.
Occupation : Earthly mother of the true son of God and Queen of Heaven.
Time in current job : 2012 years.
Residing in : Everywhere, the kingdom of God is inside you and all around you.
Other existing debts : The sins of mankind.

Cant see many banks issuing a platinum card on that back of that.

They would have five years ago!

ShooterSF

buck65 wrote: »

Some of us borrowed and paid and are paying our debts. It wasn't my fault I had to pay over the odds to buy a home.

The OP's post was condescending and arrogant but well done on making their point valid! I was actually after minimising my browser to go get ready for work when I had to double take as my eye caught your post.
All I can say is wow to your logic.

Shryke

OurLadyofKnock wrote: »

Which is why I am leaving this country.

Slurring "you'll never beat the Oirish..." as we are four goals down in a pub this summer is not the panacea I need.

Good on you if you can get out of here and make a better life for yourself. Prospects are poor and our political parties have a liking for taking it in the rear, the hussies.

Stiffler2

In order to beat the government and claw back my money which I also didn't borrow during the boom yet have to foot the bill there is a simple solution

Just grow some heroin in your attick

Attabear

Shryke wrote: »

Good on you if you can get out of here and make a better life for yourself. Prospects are poor and our political parties have a liking for taking it in the rear, the hussies.

They like to give it in the rear too to be fair, it's like an economic version of The Human Centipede.:eek:

Temptamperu

Stiffler2 wrote: »

In order to beat the government and claw back my money which I also didn't borrow during the boom yet have to foot the bill there is a simple solution

Just grow some heroin in your attick

You cant just.... nevermind.

davet82

Stiffler2 wrote: »

In order to beat the government and claw back my money which I also didn't borrow during the boom yet have to foot the bill there is a simple solution

Just grow some heroin in your attick

Stiffler2 for Tanaiste!! :cool:

Highly Salami

bluewolf wrote: »

you didn't have to buy the home

This is utter nonsense of the highest order. In a cold climate people need to have a roof over their head. If we all slept in ditches, I don't think we would last long in our jobs going to work smelling of rats pee. What if food prices were to increase, should we all starve to save money?

Stiffler2

Temptamperu wrote: »

You cant just.... nevermind.

ahh, but you can.

Ghost Buster

DoesNotCompute wrote: »

So you personally benefited from the SSIA scheme, and got a 25% return on every 4 euros invested. Where did the govt get the money to fund such decadent schemes? By giveaway budgets and giving away money as if it were free.

We are all now paying for your benefitting of schemes such as the SSIA.

I take your point but Im not an economist and had no notion (not many regular folk did I presume) of any knock on effect from the ssia. I did however have the cop on not to go into personal debt or take out a loan for something i could not afford and did not need in a hurry. I waited until i had the money which came from the lowest possible ssia available.

Millicent

OurLadyofKnock wrote: »

The sum total of money I borrowed from banks during the boom = 0
The sum total of money I now owe the banks after the boom = 0

Cheap Credit = Self-Made Slavery.


Deal with it.

and I resent having to pay to bail out the rest of you.

You realise that some of us borrowed for perfectly reasonable things (university fees and books in my own case) and paid those debts back at a reasonable interest rate and *shock* paid in full on time, right?

You don't get to clap yourself on the back because you have never had cause or been in the financial situation where a loan was essential. Not everybody who borrowed money did so for flash cars, designer gear or frivolous holidays. Get over yourself.

micropig

Highly Salami wrote: »

bluewolf wrote: »

you didn't have to buy the home

This is utter nonsense of the highest order. In a cold climate people need to have a roof over their head. If we all slept in ditches, I don't think we would last long in our jobs going to work smelling of rats pee. What if food prices were to increase, should we all starve to save money?

rent

Highly Salami

Highly Salami wrote: »

This is utter nonsense of the highest order. In a cold climate people need to have a roof over their head. If we all slept in ditches, I don't think we would last long in our jobs going to work smelling of rats pee. What if food prices were to increase, should we all starve to save money?

So rent ffs and stop giving us sob stories about ditches

charlemont

See a fool, Use a fool.