Does anyone miss the recession ?

faceman · 24-12-2017 11:00AM

Don’t worry OP, the recession will be back in 2019, if not 2H2018.

kala85 · 24-12-2017 11:26AM

faceman wrote: »

Don’t worry OP, the recession will be back in 2019, if not 2H2018.

How exactly do you make that out.

Richard Hillman · 24-12-2017 11:29AM

I miss no queues and seats on public transport

Roger Mellie Man on the Telly · 24-12-2017 11:33AM

The recession helped lower my golf handicap.

Neames · 24-12-2017 11:34AM

Things are changing and people haven't learned anything from the last recession. I got badly burned, stupidly buying into the boom and taking on too much credit (my own fault completely). Treats still happen now but they're saved for rather than funded through borrowings.

OldMrBrennan83 · 24-12-2017 11:35AM

This post has been deleted.

DeanAustin · 24-12-2017 11:35AM

BillyBobBS wrote: »

People are unable to live within their means that the problem. I drive a 2001 fiesta that cost me 500 euro last year. It get's me from A to B the same as a 50k Audi. I couldn't give a hoot how people view me as i drive it either.

The people who spend money on these status symbol items are as responsible as the politicians and the bankers who cause this boom and bust mess to keep happening. Same idiots will be crying on the Joe Duffy show or Primetime in a couple of years about how unfair it all is.

No they’re not. That’s a stupid statement. I don’t borrow for cars and drive one that’s 11 years old. Doesn’t bother me in the slightest.

But to say that someone who borrowed for a €30k car that, at the time they could comfortably pay back, is as bad as the bankers who recklessly over leveraged themselves to the extent that they needed a blanket bailout or the politicians who spent everything we had to buy votes is hyperbolic nonsense.

markodaly · 24-12-2017 11:53AM

This thread is gas. Ireland is indeed full of misery junkies. Do I miss the recession? No, I like having my children back in Ireland living and working. I like that unemployment is low and that anyone who wants to work can work. I like that there developments happening and plans for more major infrastructure investments in things like Metro North. I like that for most people life is good and that we are a successful nation, not a basket case.

Some people just like being miserable all the time. Unless everyone is wearing a sack cloth and living in a ditch some people will never be happy.

TallGlass · 24-12-2017 11:58AM

It isn't over. The day I believe it's over is when that poxy USC is removed from my payslip. Temporary measure my arse.

24-12-2017 12:14PM

No way, Ireland has it's problems now but on balance things were much, much worse between 2008 and 2014 anyway. Remember how relentlessly bleak things were in like 2010, 2011, 2012 .. jesus. College graduates with no chance of a job. Families broken up by children emigrating. Debates every night on the Frontline etc. about all the problems of the country and the problems not being solvable because there was NO MONEY. No money circulating in shops at all. And all this in an era where people had been brought up for 15 years with much higher expectations in life than previous generations, and so suffering extreme sense of failure when their lives were thrown off track. The recession devastated this country. Even those who remained in good jobs had to live and work knowing they lived in country where many were in dire straits financially and psychologically. Things seem to have been much better since 2015 but I do agree that in the last year people have sort of forgotten about the recession and are getting big loans fo cars and stuff. Honestly, I don't mind because I like to see signs of money circulating as it means peoples jobs aren't going to be as threatened, at least for now.

wakka12 · 24-12-2017 12:16PM

lisasimpson wrote: »

O definitately certain people havent learnt. Im in mid 30s and plenty my age were around to experience it but havent learnt, spending like theres no tomorrow...for the life of me i cant understanding those with mortgages not availing of the low interest rates to pay off a bit extra rather than spending on 50 euro pippa candles or latest gagget just for the sake of it......going to be some craic when interest rates start rising again

And it'll be blamed on the government too :pac:

24-12-2017 12:24PM

TallGlass wrote: »

It isn't over. The day I believe it's over is when that poxy USC is removed from my payslip. Temporary measure my arse.

The next recession will have been and gone before that USC is gone, I don't expect it to ever go.
It will be used to collect other "indirect" taxes in addition to repaying the banks bailout loans.

mojesius · 24-12-2017 12:38PM

Apart from bigger waitressing tips, I didn't really get much out of the boom, nor was I badly affected by the bust as I was in uni under and post graduate courses at the time. No loans mortgage etc.

I bucked the trend in that I got into a great job (still there) during the bust after my studies, and was able to take advantage of cheap holiday/hotel deals, eating in restaurants for pittance, buying clothes on sale all the time (and getting a seat on the train!) When you've worked your way through uni and never got to enjoy weekends, travelling, indulging, it was great to able to do it for knock down prices.

I'm a bit older and wiser now, save and spend in moderation.

Idbatterim · 24-12-2017 01:26PM

TallGlass wrote: »

It isn't over. The day I believe it's over is when that poxy USC is removed from my payslip. Temporary measure my arse.

People keep mentioning usc. It's the outrageous 40% income tax rate over 34k that is insane. Not whatever joke rate USC is charged at ...

OldMrBrennan83 · 24-12-2017 01:27PM

This post has been deleted.

Hannibal_Smith · 24-12-2017 01:33PM

Idbatterim wrote: »

People keep mentioning usc. It's the outrageous 40% income tax rate over 34k that is insane. Not whatever joke rate USC is charged at ...

The usc was supposed to be temporary. I though 2015 was the year they said it would run to. But dunno if I'm remembering correctly.

Anyhow...they play around with it...but there's no sign of it going.

faceman · 24-12-2017 02:46PM

kala85 wrote: »

How exactly do you make that out.

There’s lots of factors leading toward it. Trump’s new tax bill passed and will result in greater investment in the US economy and a massive slowdown in FDI here, not to mention a possible retraction of American businesses. US companies employ 140,000 people here.

China is sitting on a debt timebomb. When that goes off, and it will eventually, their economy will fall. They have been deploying measures to assure markets but ultimately its plasters on the wound. Debt doesn’t go away.

It’s not spoken about often but if the UK gets a sweet deal on Brexit, particular one which sees Northern Ireland being in both EU and GB, then that will really shaft Ireland as labour and tax costs in NÍ are so much cheaper.

Our housing crisis is fuelling another property bubble. Not on the same scale but it’s there for sure.

suicide_circus · 24-12-2017 02:52PM

King of Kings wrote: »

not really

They all just borrowing it (well most are) . It's not really a claim to fame.
There is no fair play involved if they convinced some loan shark to give them a PCP or a bank to loan them the cash.

No better than the unemployed hiring limos on communion day in my opinion.

I will never buy a car on finance. A house? Yes because there is no option. A car just seems like madness. People's enthusiasm for taking on debt always amazes me.

24-12-2017 03:28PM

and a lot of property ended up in the hands of far fewer people.

Edit the post I was replying to has vanished!

donegaLroad · 24-12-2017 03:46PM

I have a relation who works with the St Vincent de Paul, apparently they've never been busier.

wakka12 · 24-12-2017 03:49PM

donegaLroad wrote: »

I have a relation who works with the St Vincent de Paul, apparently they've never been busier.

Nobody said theres no poverty, there was poverty at the height of celtic tiger too. and always will be, in every country on earth

somefeen · 24-12-2017 04:06PM

I miss people saying "No recession around there anyway" when someone bought a new telly or something else worth more than 50 quid.

That used to be hilarious every single time and I never once got sick of hearing it.

Cheerful Spring · 24-12-2017 04:08PM

Most people inside this country are totally unaware we are stuck with a debt over 200 billion. It just not true the recession cracks have closed.This country can still go under at any time and probably will if another economic recession hit's and very high unemployment is a thing again. We seem to be only servicing the debt with interest payments and we are not even denting what we truly owe. Only the next recession will truly enlighten people of the seriousness of the situation we find ourself's in.

I doubt the majority of people are missing having no money and no job. The people spending like crazy are they doing so by borrowing more money to service the habit?

Galwayguy35 · 24-12-2017 04:10PM

I don't miss the recession but one advantage of it was ECB interest rates came down to practically nothing for tracker mortgages

Autochange · 24-12-2017 04:14PM

Ulysses Gaze wrote: »

Bitcoin is Fool's Gold.

Blockchain technology is the future.

Jayesdiem · 24-12-2017 04:24PM

somefeen wrote: »

I miss people saying "No recession around there anyway" when someone bought a new telly or something else worth more than 50 quid.

That used to be hilarious every single time and I never once got sick of hearing it.

I hated, I repeat HATED that phrase. Mostly because of people's indiscriminate use of the word 'recession' without any understanding of what the word actually meant. That was compounded by the ordinary man in the street shouting slogans like "burn the bond holders" without knowing what bonds actually were or who "held" them. Suddenly everyone was a marching, arm chair economist despite not knowing the first thing about economics; driven only by the realisation that, for some reason, there was less money in their pockets. Surely this predicament was the fault of someone else (but not themselves)??

24-12-2017 04:31PM

Autochange wrote: »

Blockchain technology is the future.

It probably is, but at the moment it has a bit of a "wild west" feel about it at the moment when you could double or half your worth in minutes at any time.

Idbatterim · 24-12-2017 06:35PM

Hannibal_Smith wrote: »

The usc was supposed to be temporary. I though 2015 was the year they said it would run to. But dunno if I'm remembering correctly.

Anyhow...they play around with it...but there's no sign of it going.

usc should not go! if anything should be cut its the scandalous top rate! dont expect that to fly politically though!

JohnMc1 · 24-12-2017 06:41PM

Jobs OXO wrote: »

Boom time is back. Hordes of people speanding money like water. Crowds everywhere. Can't get dinner reservations. Shoddy service from staff who don't care. People property or bitcoin obsessed. I miss the recession.....

Don't worry. Our Govt is determined to flood the Country with benefit scroungers. The recession will be back before you know it.

donegaLroad · 24-12-2017 06:47PM

wakka12 wrote: »

Nobody said theres no poverty, there was poverty at the height of celtic tiger too. and always will be, in every country on earth

I suppose it is my way of saying if the boom is back, there is no sign of it here, in fact quite the opposite.

Does anyone miss the recession ?

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