Recession is back baby

dublinman1990

The way that I see this recession that we have right now is that it is really not that bad as to what happened from 08/09. That previous recession that occurred in Ireland 12 years ago was a pretty horrible experience for everybody who lived here during the crisis because of overwhelming problems that occurred in both our financial & construction sector. That previous recession from 08/09 was really a catastrophe among many ardent observers from home & abroad of how we were dealing with our economy after it was being bashed through from every angle of misery that you thought possible.

This recession that we have right now at the moment because of Covid-19 is not really that much worse at all. We should be very able to weather this period very well.

Our construction & banking sectors are currently in a very good place at the moment. Both of these sectors however have been strictly regulated over the years to prevent them from suffering further economic shocks in our country. Nobody living here is also not acting out in a stupid way with buying multiple foreign properties from other countries as well from within Ireland. Many people in our population cannot afford to buy one now as the costs of buying them are very expensive mainly because of a lack of housing stock around Ireland. These sort of trends drives up property prices to astronomical levels meaning only those who have the means can actually buy them or to build them as Noah G had pointed out in his post.

Builders who are currently working around the country also cannot be seen by our government to lose their jobs very quickly while we are in this current recession.

They need to be seen to continue working in this phase of the recession to keep the dole numbers low. They are needed to build lots of new social housing developments here to reduce the massive LA waiting lists for people wanting to rent properties from the state. Those builders really need to continue doing this work during a recession instead of people going onto the private rental market in order to get a home. Builders are also needed to build the big PT infrastructure projects planned by the government to help us to become more competitive & for us to have a better quality of life while we live here.

Housing & Health are two of the big promises that have to be made by FF because it is written in the PfG. They cannot be allowed to lapse in front of us. The health service is having huge problems at the moment in closing down lots other essential health services due to the worldwide pandemic. This is a massive worry for all of us because Covid actually prolongs the waiting list crisis to grow to much bigger numbers leading to a larger load of delayed appointments being given to other patients who are looking to go back & restart their vital healthcare treatment once Covid is officially over. The waiting list numbers were really at shocking levels being at their highest levels ever recorded even before Covid had come over to Ireland. Once the chaos from Covid finally settles down; it is vital for us to try & lower those waiting list numbers dramatically with doing some drastic measures once we get back to normal.

Retail has hadn't an easy time with many non-essential businesses closing their doors here since March which in a way has contributed to our current recession. Some retail businesses in the clothing & babycare sector like Debenhams & Mothercare had to close their doors for good in Ireland because of a lack of consumer demand within their brick & mortar stores which has been expanded recently because of Covid-19. Online retail on the other hand in Ireland has seen a lot of businesses there continuing to accelerate their consumer demand for a short period this year as lots of people were staying at home either working or not due to the pandemic. Buying things in the Retail sector is very expensive because of the high cost of living. I am not sure in how it's doing now whilst we are living with Covid. I think a lot of retail customers here who had been infected with this virus may not come back into the sector for quite a while or at all if they are battling with their recovery from Covid or because they have passed away.

I think international travel/tourism will have some sense of hope when the sports events get to come back to some sense of normality here once fans can be allowed to resume their travelling to sports stadiums after Covid is over. We will probably have a very large contingent of people travelling over to Dublin to see the Euros at the Aviva Stadium next year once UFEA says it's fans can be allowed to come back into the stadiums. We will probably see similar numbers coming back to doing international travel once the Six Nations gets back to normal increasing consumer demand in Dublin's economy.

But all of this really happens once we have a safe vaccine in place worldwide to get of Covid-19. If there is no vaccine available to resume international travel/tourism numbers here & around the world; things will still continue to be on it's knees for a very long time to come.

Errashareesh

Gretas Gonna Get Ya! wrote: »

I don't have much respect for those who go running when things get tough... And I know plenty who stuck around, who had the chance to leave. They could have made the same excuses, that they had no choice except to leave. But they struggled and got through it.

Got some questions for you:

How would staying here unemployed and drawing the dole for a prolonged period be the right thing to do for Ireland's economy? In what ways does it aid in rebuilding the country? (Not that I see anything wrong with it in the case of those who had no other choice).

Would you agree that many people need to work for their mental wellbeing, as not having a job to go to can cause a sense of aimlessness/lack of purpose and chip away at their confidence?

How about people who are thinking longterm and don't want a significant gap in their CV? People who wanted to return to Ireland when they could, but knowing that the jobs market would be like a lottery and they'd need work experience to show for themselves?

Or what about those who had started a family/taken out a mortgage and found themselves unemployed but found the opportunity to continue working in another country, thus eliminating the struggle of relying on benefits to raise their family? Also being in a position to build savings for a security net. Should they put a notion about rebuilding Ireland before their families?

And those who were just out of college following years of studying/training - would it really make sense for them just to sign on long-term rather than go somewhere to put their hard worked for qualifications into practice?

Why do you see the above as fleeing a sinking ship? Are there no practical solutions contained therein? Is leaving your home and family/friends as a last resort really the easy option?

Are there not many among the above who wanted to return to Ireland as soon as possible to use their work experience abroad to re-enter the Irish jobs market and pay taxes?

(I have never lived abroad btw).