Good economic news thread

KingBrian2

I was surprised by how quick it took to put the posters up. Overnight the whole city is full of posters.

Phoebas

Another upgrade by Fitch

https://twitter.com/Schuldensuehner/status/695715588463849472

KingBrian2

Encouraging signs but not over the moon. This election is a big test for the economy. I will be really interested regardless of the result what the configuration is going to look like.

Sand

KingBrian2 wrote: »

I was surprised by how quick it took to put the posters up. Overnight the whole city is full of posters.

I saw some poor students with ladders and posters wandering about on Thursday night with posters trying to find lampposts. They were probably dreaming of a political career and a brown envelope in their future, but being the guys dumb enough to do work they probably wont get any benefit from it. Neither will anyone who goes around with a ladder cutting the posters down. The difference is the latter are more self aware than the former so the former are more motivated.

The only encouraging news for Ireland is that the vast majority of polled people do not want the current FG-LAB government re-elected. Heres to seeing an majority of Independants/Others to get some actual governance delivered.

Charles Babbage

Credit rating upgraded

http://www.independent.ie/business/irish/ratings-agency-fitch-upgrades-irelands-credit-rating-due-to-brisk-economic-growth-34428184.html

Sand wrote: »

The only encouraging news for Ireland is that the vast majority of polled people do not want the current FG-LAB government re-elected. Heres to seeing an majority of Independants/Others to get some actual governance delivered.

Many people thought FG-LAB might take a golden opportunity and reform things, but they turned out to be just like FF. These Independents/others are equally unprincipled, they just find it harder to get along in parties.

Sand

Charles Babbage wrote: »

Many people thought FG-LAB might take a golden opportunity and reform things, but they turned out to be just like FF. These Independents/others are equally unprincipled, they just find it harder to get along in parties.

Agreed, I think the bizarre thing for FG was that to be successful they simply had to be less inbred, less corrupt, less arrogant and less incompetent than Geena Fail. Their failure to clear those simple hurdles are probably best described in youtube fail clips. Even from their first days in office they were breaching advisor pay caps to appoint family members and cronies to stick their snouts into the trough. How terrible do you have to be to under-perform against the worst government in living memory? A government so terrible as to lead to the near extinction of a major political party for a century?

Yet, FG diehards will berate the Irish voters for being immoral for not voting them back in for more inbred corruption, arrogance and incompetence. The Irish voters consistently vote for moral, humble and competent leadership and the political class consistently insult them for their own failure to deliver.

Avatar MIA

Sand wrote: »

Agreed, I think the bizarre thing for FG was that to be successful they simply had to be less inbred, less corrupt, less arrogant and less incompetent than Geena Fail. Their failure to clear those simple hurdles are probably best described in youtube fail clips. Even from their first days in office they were breaching advisor pay caps to appoint family members and cronies to stick their snouts into the trough. How terrible do you have to be to under-perform against the worst government in living memory? A government so terrible as to lead to the near extinction of a major political party for a century?

Yet, FG diehards will berate the Irish voters for being immoral for not voting them back in for more inbred corruption, arrogance and incompetence. The Irish voters consistently vote for moral, humble and competent leadership and the political class consistently insult them for their own failure to deliver.

Not really looking forward to every thread being usurped for soapbox rants.

ezra_pound

Rating agency Fitch upgrades Ireland from A- to A
Move follows a positive reassessment of the prospects for strong economic growth

http://www.irishtimes.com/business/rating-agency-fitch-upgrades-ireland-from-a-to-a-1.2524570


Worth posting if only to bring thread back on topic.

KingBrian2

As my old man would say you don't get votes for doing what's right. The key to this election is IMO still the economy. People will blame the gvt for the mess now is the time for the electorate to choose the best candidates that will bring about responsible leadership. I feel sorry for those that chose to waste their votes and I assure you their will be those that want to disrupt good gvt.

People get the gvt they vote for so if a crowd of cronies get into parliament I won't sympathise too much for the anti establishment. When I go voting I will vote for a candidate who will make cuts to wreckless spending and unachievable targets while at the same time making improvements to areas that desperately need gvt support.

serfboard

Consumer sentiment at highest level since 2001 (http://m.rte.ie/news/business/2016/0208/766312-consumer-sentiment/)

newacc2015

Sand wrote: »

The only encouraging news for Ireland is that the vast majority of polled people do not want the current FG-LAB government re-elected. Heres to seeing an majority of Independants/Others to get some actual governance delivered.

Independants are pretty useless IMO. I have read about a far amount of them in Dublin. There is nothing impressive about most of their career background, that would make they suitable for Government. Has Mick Wallace or Ming Flanagan been great in Government? No, they have been pretty useless


Have you asked independants what their policies are on taxation, policies for the self-employed? Independants seem like an "alternative", but in reality you are not voting for someone who you think is the best candidate, you are voting for them as they are not FG. That is a ridiculous logic.

Vote for someone on their policies and performance. FG-Labour have done a good job at managing the economy over the last 5 years. It is easy to forget how different the economy was 5 years. It is easy to forget how bad it was 2 years ago.

Villa05

newacc2015 wrote:

Vote for someone on their policies and performance. FG-Labour have done a good job at managing the economy over the last 5 years. It is easy to forget how different the economy was 5 years. It is easy to forget how bad it was 2 years ago.

They hammered retail with 23% vat at retails weakest point. To add insult to injury they dithered and done nothing on upward only rent reviews.

The working poor are worse off due to the " Recovery" due to sky high rents because of government interference to protect hank balance sheets

Health service not fit for purpose

Education system unable to deliver suitably qualified persons to fill vacant positions.

Quangos practically untouched even added to driving up costs

The recovery is mainly down to Draghi and occurred despite our government not because of government

ancapailldorcha

Villa05 wrote: »

They hammered retail with 23% vat at retails weakest point. To add insult to injury they dithered and done nothing on upward only rent reviews.

The working poor are worse off due to the " Recovery" due to sky high rents because of government interference to protect hank balance sheets

Health service not fit for purpose

Education system unable to deliver suitably qualified persons to fill vacant positions.

Quangos practically untouched even added to driving up costs

The recovery is mainly down to Draghi and occurred despite our government not because of government

Please do not drag the thread off topic.

Charles Babbage

Trade Balance good, to the extent it is credible
Exports up 20pc in 2015 to over €111bn, trade surplus biggest on record
http://www.independent.ie/business/irish/exports-up-20pc-in-2015-to-over-111bn-trade-surplus-biggest-on-record-34454376.html

FreudianSlippers

Charles Babbage wrote: »

Trade Balance good, to the extent it is credible
Exports up 20pc in 2015 to over €111bn, trade surplus biggest on record
http://www.independent.ie/business/irish/exports-up-20pc-in-2015-to-over-111bn-trade-surplus-biggest-on-record-34454376.html

CSO confirmed

Charles Babbage

Unemployment down
http://www.rte.ie/news/business/2016/0301/771777-cso-unemployment-figures/

If the recovery can be kept going for a couple more years, things will be in reasonable shape.

carzony

Just looking at that link CB isnt youth unemployment at a massively high level 20.3% compared to other groups. So according to that young people are mostly unemployed in the whole system?

BoJack Horseman

carzony wrote: »

Just looking at that link CB isnt youth unemployment at a massively high level 20.3% compared to other groups. So according to that young people are mostly unemployed in the whole system?

Young people are always the most likely to be unemployed (by age)

Ireland is high, but thankfully it is trending downwards.... and tbh we are not doing too badly relative to other nations we would assume to be doing better.

Villa05

Should we be around the same rate as UK, Holland in the low teens. We also have jobbridge and high emigration which is hiding significant amount of youth unemployment

BoJack Horseman

Villa05 wrote: »

Should we be around the same rate as UK, Holland in the low teens. We also have jobbridge and high emigration which is hiding significant amount of youth unemployment

Every nation has employment activation schemes.... they are, after all, often EU funded.

Ireland's high level of job creation & pretty good participation rate for higher education is what keeps our youth unemployment well below the other PIIGS...

keane2097

I saw someone mention somewhere that the numbers we have on job activation schemes now is actually lower than it was when we were crowing about full employment?

Villa05

BoJack Horseman wrote:

Ireland's high level of job creation & pretty good participation rate for higher education is what keeps our youth unemployment well below the other PIIGS...

Many coming out of third level left as Government concentrated austerity on people starting or attempting to start carrers. It cost the state alot of money to train these young people and now many are lost to contries that value them more. Rather a shameful waste. Austerity should have been shared equally

BoJack Horseman wrote:

Every nation has employment activation schemes.... they are, after all, often EU funded.

Germany subsidised companies to keep employees rather tha let them go thereby preserving and developing skills.
What job activation schemes are eu funded. I'd doubt the EU would be in the business of supporting wealthy multinationals source labour for free

We are a far more advanced than many of the pigs economies. Surely economic comparisons should be done on countries equal to our potential

Our potential is held back by poor political policies

andrew

Villa05 wrote: »

Should we be around the same rate as UK, Holland in the low teens. We also have jobbridge and high emigration which is hiding significant amount of youth unemployment

There are only about 4,000 people on Jobbridge, so it's not really hiding that much unemployment at all. And only 1 in 7 people emigrating are unemployed, so that's not true either.

newacc2015

Villa05 wrote: »

Many coming out of third level left as Government concentrated austerity on people starting or attempting to start carrers. It cost the state alot of money to train these young people and now many are lost to contries that value them more. Rather a shameful waste. Austerity should have been shared equally


Germany subsidised companies to keep employees rather tha let them go thereby preserving and developing skills.
What job activation schemes are eu funded. I'd doubt the EU would be in the business of supporting wealthy multinationals source labour for free

We are a far more advanced than many of the pigs economies. Surely economic comparisons should be done on countries equal to our potential

Our potential is held back by poor political policies

If you are emigrating coming out of college. It is highly likely that you picked the wrong course from the beginning. There is plenty of BS courses that if the economy had full employment you wouldnt get a job in that field ie archeology.

What does austerity have to do with this? Our economy is nearly faster growing than China and we have an unemployment rate lower than 9%. Do you think we should start filling the civil service with useless people to stop emigration?

Germany is unique that it has strict firing rules. Which also means in good times employers are not willing to hire due to the difficulty of firing. When the Irish economy picked up employers hired immediately, as it was easy to fire employees again if they upswing was temporary.

While Ireland was booming in the early 2000s. Germany had a far high unemployment rate and a worse cause of long term unemployed than us. Germany still has massive issues with East Germany, which you have ignored. Even during the depth of our recession. Our unemployment rate was better than most of East Germany

Rightwing

newacc2015 wrote: »

If you are emigrating coming out of college. It is highly likely that you picked the wrong course from the beginning. There is plenty of BS courses that if the economy had full employment you wouldnt get a job in that field ie archeology.

What does austerity have to do with this? Our economy is nearly faster growing than China and we have an unemployment rate lower than 9%. Do you think we should start filling the civil service with useless people to stop emigration?

Germany is unique that it has strict firing rules. Which also means in good times employers are not willing to hire due to the difficulty of firing. When the Irish economy picked up employers hired immediately, as it was easy to fire employees again if they upswing was temporary.

While Ireland was booming in the early 2000s. Germany had a far high unemployment rate and a worse cause of long term unemployed than us. Germany still has massive issues with East Germany, which you have ignored. Even during the depth of our recession. Our unemployment rate was better than most of East Germany

This isn't necessarily the case. Sometimes companies just want a degree, any degree, as it shows some level of intelligence and commitment.

Emigration = it's more likely graduates feel they can do better abroad, and want to experience new places etc.

What schemes like jobsbridge do is that they force down labour costs. Good for the economy & employer, bad for the graduate/employee.

I've little doubt it hurt Labour in particular in the election.

Suryavarman

Rightwing wrote: »

This isn't necessarily the case. Sometimes companies just want a degree, any degree, as it shows some level of intelligence and commitment.

Emigration = it's more likely graduates feel they can do better abroad, and want to experience new places etc.

What schemes like jobsbridge do is that they force down labour costs. Good for the economy & employer, bad for the graduate/employee.

I've little doubt it hurt Labour in particular in the election.

Jobsbridge reduces the labour cost of the workers in Jobsbridge thereby making them profitable to hire. It doesn't reduce labour costs as a whole.

ezra_pound

newacc2015 wrote: »

If you are emigrating coming out of college. It is highly likely that you picked the wrong course from the beginning. There is plenty of BS courses that if the economy had full employment you wouldnt get a job in that field ie archeology.

What does austerity have to do with this? Our economy is nearly faster growing than China and we have an unemployment rate lower than 9%. Do you think we should start filling the civil service with useless people to stop emigration?

Germany is unique that it has strict firing rules. Which also means in good times employers are not willing to hire due to the difficulty of firing. When the Irish economy picked up employers hired immediately, as it was easy to fire employees again if they upswing was temporary.

While Ireland was booming in the early 2000s. Germany had a far high unemployment rate and a worse cause of long term unemployed than us. Germany still has massive issues with East Germany, which you have ignored. Even during the depth of our recession. Our unemployment rate was better than most of East Germany

Archaeology was a booming industry here in the Bertie Boom. It also completely collapsed with the contraction in road building and apartment block building so it's probably not the best example for your point.

draiochtanois

This post has been deleted.

Dohnjoe

draiochtanois wrote: »

This post has been deleted.

Because forget the study and difficulty, quantity of hours is important?

Rightwing

Suryavarman wrote: »

Jobsbridge reduces the labour cost of the workers in Jobsbridge thereby making them profitable to hire. It doesn't reduce labour costs as a whole.

Companies don't vote, people do.

There is a message somewhere there for FG/Labour.