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Bailout 10 years on. How is it for you?

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  • 27-09-2018 10:20pm
    #1
    Pinch Flat
    Registered Users Posts: 7,761 ✭✭✭


    I witnessed the bank bailout as it happened 10 years ago. I worked off Merrion Square at the time and headed over the government buildings to see what the fuss was about. The bewilderment, the press, the media circus. When it sunk in the realization that life had changed for ever.

    Eventually got laid off in 2009 and had some really dark years to about 2012. Brought me to the brink. Didn’t go too mad in the boom so no apartment in Bulgaria or a his and hers merc to worry about. But really struggled for a few years. Doing well now but wondering for how long.

    So AH - how was the “Lost decade” for you?


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    #2
    Jimmy.
    Site Banned Posts: 386 ✭✭Jimmy.


    Just getting the decking redecked as we speak. This pcp sounds like good value, always fancied a new duster.


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    #3
    Pinch Flat
    Registered Users Posts: 7,761 ✭✭✭Pinch Flat


    Jimmy. wrote: »
    Just getting the decking redecked as we speak. This pcp sounds like good value, always fancied a new duster.

    Don’t forget the artic spa


  • Options
    #4
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    I hardly noticed it.


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    #5
    Jimmy.
    Site Banned Posts: 386 ✭✭Jimmy.


    Jared Unsightly Mascara wrote: »
    I hardly noticed it.

    Why would you since you’re retired?


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    #6
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Jimmy. wrote: »
    Why would you since you’re retired?

    Not on the state pension though and reliant on investment returns.


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    #7
    Lackey
    Closed Accounts Posts: 1,118 ✭✭✭Lackey


    was waiting for the penny to drop.....
    'Do we have any room to move in the budget?'
    ''no'
    AHHHH there it is lol


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    #8
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,240 Mod ✭✭✭✭L.Jenkins


    Not a problem for me. I was just finishing College when the Banks went bust and hiring in the IT industry around Athlone was on a slow down. Still got a job and always some source of income, so no financial issues.

    Still have a few loans to clear for the wedding in 2014 and the odd newer car but nothing crippling if I ever lost my job.


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    #9
    Four Phucs Ache
    Registered Users Posts: 1,017 ✭✭✭Four Phucs Ache


    My next door neighbour abandoned the house and went to New Zealand.

    My new next door neighbour bought the place for 40% of what I paid.

    He reminds me every now and then but I don't care because he works at home and I use his address for deliveries.


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    #10
    Wheeliebin30
    Closed Accounts Posts: 5,593 ✭✭✭Wheeliebin30


    The Monday Club!

    Thirsty Tuesday!

    Recession Wednesday!

    Ah great days....


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    #11
    Harry Palmr
    Closed Accounts Posts: 40,061 ✭✭✭✭Harry Palmr


    Lost my job as the arse fell out of the world but luckily I've always been poor so I hardly noticed! :D The best that I can say is that eventually I found a new line of poorly paid work which it turns out I quite like so not all bad.

    I'm sure as it all collapsed none of us could have imagined how it would take so long to unwind and indeed it's clearly kept us collectively poorer than would otherwise be the case and much of Ireland still looks like it's in recession and will always be.


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    #12
    KERSPLAT!
    Closed Accounts Posts: 31,152 ✭✭✭✭KERSPLAT!


    I was made redundant about 10 years ago. Pricked around for a couple of years looking for work, moved around, etc.. Eventually went back to college, got my foot in the door of a decent company and after being there for 4 years I've made great progress. I'm happy with my work and while I always want more money, I'm ok with how I'm doing for now :)


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    #13
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Unfortunately I had to work through it all and have to deal with the usual garbage that they could do my job or the ones on the dole would do it for half.....


    Well to be honest not one came forward to do it for half and why would they when they still got a weekly payment for nothing and housed, fed, healthcare all provided for.

    I work and have done since 15 and have barely anything to show for it and struggle on by.

    It's been a great excuse for cuts and lean management as they call it to bring in more conditions and longer working hours among other things.

    So it hasn't stopped affecting to be honest and I don't think it ever will as we will be paying for it all for the next 40 or 50 years.

    Pensions are near run dry and working age will keep increasing until most die so they won't need the pension.


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    #14
    KERSPLAT!
    Closed Accounts Posts: 31,152 ✭✭✭✭KERSPLAT!


    Wheeliebin30 wrote: »
    The Monday Club!

    Thirsty Tuesday!

    Recession Wednesday!

    Ah great days....

    I was a big fan of the Monday club!


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    #15
    Ultimate Seduction
    Closed Accounts Posts: 4,464 ✭✭✭Ultimate Seduction


    Out of work from early 2009 until 2012. Probably the best years of my life. Thursday to Tuesday weekends, falling narcotic prices. Rent was dirt cheap. Lucky to have been the right age for it I suppose, no mortgage or kids.


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    #16
    Loves_lorries
    Site Banned Posts: 272 ✭✭Loves_lorries


    Pinch Flat wrote: »
    I witnessed the bank bailout as it happened 10 years ago. I worked off Merrion Square at the time and headed over the government buildings to see what the fuss was about. The bewilderment, the press, the media circus. When it sunk in the realization that life had changed for ever.

    Eventually got laid off in 2009 and had some really dark years to about 2012. Brought me to the brink. Didn’t go too mad in the boom so no apartment in Bulgaria or a his and hers merc to worry about. But really struggled for a few years. Doing well now but wondering for how long.

    So AH - how was the “Lost decade” for you?

    Situation was very unusual for me and untypical, I was abroad until 2011 from 1998 so missed the boom, I then inherited money from an uncle and combined with what I had myself, managed to pick up some property cheap, only wish I'd bought more and in 2012 rather than 2015.


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    #17
    L.Jenkins
    Moderators, Computer Games Moderators, Technology & Internet Moderators Posts: 19,240 Mod ✭✭✭✭L.Jenkins


    Loves_lorries wrote: »
    Situation was very unusual for me and untypical, I was abroad until 2011 from 1998 so missed the boom, I then inherited money from an uncle and combined with what I had myself, managed to pick up some property cheap, only wish I'd bought more and in 2012 rather than 2015.

    I was raging I didn't have the money back then to buy a few properties and I could have sold on this year for a decent turnover. I'll be looking for something dirt cheap I'll be doing up over time. Not much luck at the moment saving a deposit for something more expensive and modern.


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    #18
    Loves_lorries
    Site Banned Posts: 272 ✭✭Loves_lorries


    L.Jenkins wrote: »
    I was raging I didn't have the money back then to buy a few properties and I could have sold on this year for a decent turnover. I'll be looking for something dirt cheap I'll be doing up over time. Not much luck at the moment saving a deposit for something more expensive and modern.

    I bought farmland in 2012 ( which is worth not a penny more today) with a nice bungalow on it, wife hates the isolation and as she earns more than me, it would make more sense for us to live near a city as she would earn more again.

    Bought two modest properties in 2015 but not in Dublin so I missed the big prizes available, I'm not that bright, some people even they have money won't grab the prize offers.


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    #19
    Wheres Me Jumper?
    Closed Accounts Posts: 1,288 ✭✭✭Wheres Me Jumper?


    i was lucky enough i suppose.
    bought a few properties during the initial boom, but got a bit wary of the prices post 2005, so i concentrated on clearing all our mortgages (much against the advice of my bank manager, who kept telling me i wasnt geared enough???).
    The bubble burst, so rather than sell them off for sod all we just kept renting them out. Lucky to have had decent tenants aswell.

    now we are totally debt free and still have a few investment properties.
    Drive a nice newish german car, holiday x3 times every year. Living the dream!


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