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Could Ireland be facing another recession? - Eddie Hobbs thinks so!

  • 14-06-2022 6:42pm
    Registered Users Posts: 823 ✭✭✭

    Nowhere did I see a similar thread so I posted this one (at least one that directly looked at this). Eddie Hobbs (of Brendan Investments losing €13m fame) has raised his head above the parapet to detail why Ireland may be on a slide towards recession. I will let the Mirror pick it up

    Stagflation is when the inflation rate is running well above the economic growth rate. What that basically means is costs are rising faster than the economy is growing.

    “Workers have no chance of recovering the losses they’re experiencing against inflation. They just can’t. People automatically go backwards. You’re in reverse gear.”

    However, house prices won’t crash as they did in the last recession.

    “The Central Bank has its foot on the throat of the credit under-writing in Ireland. Prices will flatten by 10% to 15% maybe, but that’s more to do with ‘demand destruction’ which is when they’ve squeezed it and there’s no-one left who can afford those prices.


    House prices falling by 10-15%

    Wages not rising to keep abreast the cost of living

    Not being able to fill jobs at the moment is less money for the exchequer

    A lot of us here got through the last recession , what will it cost us this time?