Is there another recession on the way?

mumo3

With the increase in House/Petrol/basically everything going up, and the announcement over the weekend of Roadbridge going into administration, is it time to acknowledge that all these things look familiar?

Or is this just a blip in the economy caused by issues like Covid and Russia?

My apologies if there is already a thread on this.

Sonics2k

At this point it's really more like one big, continuous recession.

sportsfan90

People love to predict that a recession and property crash is just around the corner. If someone keeps saying it long enough, eventually they'll be right.

Then they'll be able to say "see didn't I tell you, shows how little our politicians and economists know".

For what it's worth, I haven't a clue either way.

mumo3

@sportsfan90 😂 I had a conversation with my friend the other night and we were chatting about it, her reckoning is not yet as its every 20 years, someone else's opinion was every 15 years and so on so forth.... @Sonics2k TBH all a recession will do is bring people down to my level 🤣

Furze99

https://www.boards.ie/discussion/comment/118784066#Comment_118784066

That's the old Green theory that in times of recession that the gap between rich & poor narrows, whilst quality of life improves. In times of growth, the opposite except that the standard of living increases with growth.

We've (the world) averaged a recession every 7.5 years over the last five decades.

There's always a recession on the horizon.

dxhound2005

America has had about 50 Recessions/Depressions/Slumps/Crashes/Panics etc. There is always one around the corner.

https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

Then there is the "recovery". But nobody seems to know any golden age we should recover to.

Fandymo

Hopefully. We could do with the Troika coming back in and actually implementing some of the cuts they recommended. Half TDs pay, cut dole, privatise prisons and get another few built, clear the DP backlog and get people returned to sender and implement proper AS protocols, halve at the very least Foreign Aid, ìncrease tax on empty properties, slash the PS wage bill, cut out waste at every level of public spending.

mumo3

https://www.boards.ie/discussion/comment/118784223#Comment_118784223

#@Fandymo for president

dxhound2005

https://www.boards.ie/discussion/comment/118784223#Comment_118784223

Better idea would be to make politicians salaries competitive with the top brass in the private sector. That would attract the right sort of talent to put your other proposals into law. None of them are going to take a 95% reduction in pay go into politics. It's only 160 TD's so it would be a drop in the ocean to pay them a few million a year.

wench

https://www.boards.ie/discussion/comment/118784223#Comment_118784223

And after dinner?

Strumms

Cutting dole is a bit extreme, id rather resource a department to check up on social welfare fraud and have an active deterrent to those who claim but don’t need or have an entitlement to. Cutting dole is a surefire way to fling people into poverty and cause the state other socioeconomic problems… leave people who need it to get it, enough money too… those that don’t need / not entitled… deal in a severe enough way.

steal from a shop you could go to prison, from the state you should be done for fraud.

a neighbor was claiming for years, but well enough to go golfing…weekly.

dxhound2005

People need to report the fraud they know about to SW and Revenue. There are forms online to do it anonymously.