Recession is back baby

virginmediapls

People who recently bought houses and have vested interest in prices staying high - "prices are definitely not going to drop soon".

People waiting to buy - "prices are definitely going to drop soon".

More at 6.

Tuco88

At least this time we all have masks to rob the post office or a credit union if you're a risk taker...

Wanderer78

landofthetree wrote: »

The increases in public spending of today is the austerity of tomorrow.

As the great Milton Friedman once said it's really only an accident when any democratically elected government runs a budget surplus.

growing deficits arent as problematic as once thought, growing private debt has historically caused far more serous problems, as we ve just experienced

screamer

Wanderer78 wrote: »

what if you have limited ability to save? the world has changed dramatically since the writings of the bible, a lot of the information in it, is largely irreverent now, but a lot is also still relevant, to some, anyway, we do not live in a black and white world

I know, not everyone can save, but I hope that people that went through the last recession and could really changed their habits. I have my doubts though, people love to show off, pull the new car into the yards etc, but when the proverbial hits the fan, no one wants to buy that car.
A lot of people had means to save last time around, and I’m sure this time too, but there’s a difference between can’t save and won’t save. Our government never has a good idea on how to prevent financial catastrophe in Ireland, always relying on the emigration pressure release valve or taxing us to death. It’ll be very interesting to see if they have any ideas this time round or if they resort to calling in the IMF again for the next 10 year road map.

BuboBubo

storker wrote: »

This thread should be re-titled "Recession Porn".

Here's a pic to start if off, Charlie getting a ride for himself #recessionporn

Triangle

Risteard81 wrote: »

Perhaps I'm just intelligent enough to understand that the Heroes of '16 did not die for a European superstate.


For what died the sons of Róisín?

Sweet jesus, that's a very narrow viewpoint.

They didn't go though two world wars!! The reason the Europeans tried to start working together instead of fighting each other.

You might not like the EC, you may even want to 'make Ireland great again' but the EC has brought peace, stability and prosperity to Europe.
Your nationalistic view point is what causes wars.

Wanderer78

screamer wrote: »

I know, not everyone can save, but I hope that people that went through the last recession and could really changed their habits. I have my doubts though, people love to show off, pull the new car into the yards etc, but when the proverbial hits the fan, no one wants to buy that car.
A lot of people had means to save last time around, and I’m sure this time too, but there’s a difference between can’t save and won’t save. Our government never has a good idea on how to prevent financial catastrophe in Ireland, always relying on the emigration pressure release valve or taxing us to death. It’ll be very interesting to see if they have any ideas this time round or if they resort to calling in the IMF again for the next 10 year road map.

again, some really dont have the ability to save much, if anything at all, but you do have a point, to a point. our political institutions are stuck in dangerous ideologies thinking, mainstream economics is failing, badly, but our most critical institutions, including our political institutions, effectively, arent responding, but the voter has had enough, and are voting angrily, this could get hairy for us all, oh and the imf werent exactly 'called in', and its important to remember, the 'financial' issues of the 'financial crisis', were largely based in our private sector financial institutions, our public books were in okay state, leading up to the crash!

KungPao

Augeo wrote: »

Perhaps not but it'd be likely you'd imagine ........ Programme for government was Carbon tax increases heavy but no hikes in income tax or USC planned iirc.

I’m expecting something new for CS workers, so I predict I’ll see a “Be glad you still have a job” tax on my slip if the economy goes belly up.

Oh well, I would be glad to still have a job.

tabby aspreme

tabby aspreme wrote: »

Coffins are mainly made from MDF, very little wood in them, undertakers won't suffer, they will up their prices

Strange as it may sound undertakers have been hit financially by covid too.

There has been no embalming, wakes and removals to churches the night before burials. It’s pretty much been collect, zip them up as seen, close the lid and lower it down.

Gregor Samsa

Strawberry Milkshake wrote: »

Strange as it may sound undertakers have been hit financially by covid too.

There has been no embalming, wakes and removals to churches the night before burials. It’s pretty much been collect, zip them up as seen, close the lid and lower it down.

That was certainly the case during lockdown (my dad died in May), but things almost seem to be back to normal now. I was at a funeral last week, and apart from the reduced capacity in the church (big crowd outside), it was indistinguishable from a pre-covid one.

Sorry for your loss, Gregor.

Get Real

ShineOn7 wrote: »

And you seem delighted about it? Why?

Presume it's because they'll be supping on 2.50 pints Fosters down the local and getting a kilo of carrots for 9cent. Ah, recessions... 😂

OMM 0000

ChikiChiki wrote: »

Could be an option. Have you done a TEFL course and does it take long?

I'm consulting atm with a degree but the contractor ground is very shaky so need to branch out my skillset. Also would be a good opportunity to learn Chinese.

I don't teach Chinese but I spend a bit of time in China most months. The foreigners I meet in bars tend to be English teachers.

I would assume a TEFL would help (even just for your own confidence) but they're definitely not necessary.

If you go to China you can either pick an "easy" city like Shanghai or go for an adventure in a city you've never heard of. They're all huge.

Gretas Gonna Get Ya!

ShineOn7 wrote: »

And you seem delighted about it? Why?

Why not?

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

This pandemic might even have a positive effect in changing that element in our culture a bit.

Wanderer78

Gretas Gonna Get Ya! wrote: »

Why not?

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

This pandemic might even have a positive effect in changing that element in our culture a bit.

so when people run out of options that suit them in this country, and 'runaway' to other countries, to potentially improve those options, theyre in fact running away from their problems????

Gregor Samsa

Gretas Gonna Get Ya! wrote: »

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

Seeking work abroad when there's none at home isn't "running away from problems", it's solving a problem. It sounds like you missed out on a few important life lessons yourself.

weldoninhio

Triangle wrote: »

Sweet jesus, that's a very narrow viewpoint.

They didn't go though two world wars!! The reason the Europeans tried to start working together instead of fighting each other.

You might not like the EC, you may even want to 'make Ireland great again' but the EC has brought peace, stability and prosperity to Europe.
Your nationalistic view point is what causes wars.

The EEC was great.
The EU, not so much.

And a war will be needed to shed all the debt accrued. Brexit, EU breakdown, trade wars, actual war. Maybe Dublin will be bombed this time and we can rebuild with a proper street system.

Plumbthedepths

Gretas Gonna Get Ya! wrote: »

Why not?

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

This pandemic might even have a positive effect in changing that element in our culture a bit.

So you want equality of misery? People will emigrate to improve their own situation / that of their family. Noone is going to pay attention to what you're peddling if they have an option.

Wanderer78

weldoninhio wrote: »

The EEC was great.
The EU, not so much.

not all eu functions are great, but some are

scrumqueen

Atlantic Dawn wrote: »

From memory mortgage lending will stop first, house prices will tank.

With any luck. Id settle for them dropping to affordable TBQH.

Wanderer78

scrumqueen wrote: »

With any luck. Id settle for them dropping to affordable TBQH.

this may not happen, our economic and financial systems are geared towards maintaining inflated house prices, doesnt always work though

scrumqueen

Wanderer78 wrote: »

this may not happen, our economic and financial systems are geared towards maintaining inflated house prices, doesnt always work though

yep, the price of houses have been so inflated for so long that were they to tank below 50% of what the market paid there would be murder

Wanderer78

scrumqueen wrote: »

yep, the price of houses have been so inflated for so long that were they to tank below 50% of what the market paid there would be murder

even a drop of 10%, could probably cause serious economic problems

KungPao

scrumqueen wrote: »

yep, the price of houses have been so inflated for so long that were they to tank below 50% of what the market paid there would be murder

There’d be blood. Below 50%? There’d be masses of people refusing to pay mortgages. They’d be feeling hard done by. Who wants to pay €300,000 plus interest for something worth €150,000 or less?

nthclare

scrumqueen wrote: »

yep, the price of houses have been so inflated for so long that were they to tank below 50% of what the market paid there would be murder

I know my house is up 80k since the last recession, a year ago I was thinking of selling up, and buying a smaller house nearer the coast, and cashing in because I have no mortgage.

I don't know what to do now lol
I'm in the Burren in a nice location but the ocean calls

Wanderer78

KungPao wrote: »

There’d be blood. Below 50%? There’d be masses of people refusing to pay mortgages. They’d be feeling hard done by. Who wants to pay €300,000 plus interest for something worth €150,000 or less?

oh it would be a lot more serious than that, if you thought 08 was bad.....:eek:

My house still isn’t worth what I paid for it in 07

KungPao

Wanderer78 wrote: »

oh it would be a lot more serious than that, if you thought 08 was bad.....:eek:

If my house suddenly was worth less than half, I’d be off! Adios. Start a new life under the sea maybe.

Wanderer78

KungPao wrote: »

If my house suddenly was worth less than half, I’d be off! Adios. Start a new life under the sea maybe.

probably no harm, may not be any place to live on the crust after the fact!

Ush1

My house has appreciated one hundred percent since 2012. No plans on selling though.