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You're €44,365 in debt. All set for another recession?

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135

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    #62
    [Deleted User]
    Posts: 13,712 ✭✭✭✭ [Deleted User]


    codrulz wrote: »
    The US is around 108% Debt:GDP.. Japan would be very high compared to most other large/developed economies at over 250%.
    You can't compare Ireland to the USA. The latter is single-handedly responsible for the only real world-reserve currency.

    Ireland and its economy is like Pat Kenny: big at home, but meaningless abroad. And our economy is not so sheltered.


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    #63
    4068ac1elhodqr
    Closed Accounts Posts: 9,586 ✭✭✭4068ac1elhodqr


    How about sending a drone rocket thing, shaped like a crab into orbit, and grabbing one of those random asteriods.
    Sure they're always saying they're full of diamonds, precious metals and gold.

    When caught, fling it back down towards field in leitrim, and get the locals with axes out to chilsel away at it.
    Job done.


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    #64
    Ubbquittious
    Registered Users Posts: 6,194 ✭✭✭Ubbquittious


    Danna Eager Thighbone wrote: »
    How about sending a drone rocket thing, shaped like a crab into orbit, and grabbing one of those random asteriods.
    Sure they're always saying they're full of diamonds, precious metals and gold.

    When caught, fling it back down towards field in leitrim, and get the locals with axes out to chilsel away at it.
    Job done.




    I can't wait for this. Some day i'll sit into my car and go down to the local Dairygold


    "Can I get a pack of copper screws please?..............Nah f*ck it I'll go for the 24 carat gold ones altogether"


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    #65
    listermint
    Registered Users Posts: 33,763 ✭✭✭✭listermint


    Your Face wrote: »
    I'm currently upskilling and as soon as I'm finished my various courses - I'll be looking to emigrate for good.



    I do enjoy the wheeze that elsewhere is better. That's the hilarious part.


    The oul grass is greener stuff is gas.


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    #66
    gordongekko
    Registered Users Posts: 5,301 ✭✭✭gordongekko


    Its over 100k for every person working in the economy


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    #67
    kneemos
    Registered Users Posts: 20,412 ✭✭✭✭kneemos


    listermint wrote: »
    I do enjoy the wheeze that elsewhere is better. That's the hilarious part.


    The oul grass is greener stuff is gas.


    Obviously weren't around in the eighties.


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    #68
    padd b1975
    Registered Users Posts: 10,712 ✭✭✭✭padd b1975


    Lots of debt, all being serviced by my tenants.

    Long may you run O Glorious Rental Crisis!!


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    #69
    El_Bee
    Registered Users Posts: 933 ✭✭✭El_Bee


    Is this the governments debt or consumer/household debt?


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    #70
    rafatoni
    Registered Users Posts: 469 ✭✭rafatoni


    ILoveYourVibes wrote: »
    I have zero debt.

    Not only that. No member of my family has any debt at all not even a car loan.

    And yes we own cars and property.
    hows the 88 fiesta these days? She still going strong


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    #71
    Shefwedfan
    Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    I’m over 200k in debt, so can I share our some of that to 4 other people? It only seems fair we share the load


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    #72
    [Deleted User]
    Posts: 13,712 ✭✭✭✭ [Deleted User]


    El_Bee wrote: »
    Is this the governments debt or consumer/household debt?
    Government debt.

    Don't even lets get started on private debt.


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    #73
    Wanderer78
    Registered Users Posts: 28,941 ✭✭✭✭Wanderer78


    El_Bee wrote: »
    Is this the governments debt or consumer/household debt?

    public or government debt, nothing to truly worry about


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    #74
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    El_Bee wrote: »
    Is this the governments debt or consumer/household debt?
    Public, but it mostly just gets rolled over and we'll all be dead and gone when a future generation frets about their public debt.


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    #75
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    A Tyrant Named Miltiades! wrote: »
    Government debt.

    Don't even lets get started on private debt.

    No, let's!

    https://www.independent.ie/business/irish/household-debt-shrinks-to-2003-levels-but-economic-risk-remains-37931046.html


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    #76
    4068ac1elhodqr
    Closed Accounts Posts: 9,586 ✭✭✭4068ac1elhodqr


    listermint wrote: »
    I do enjoy the wheeze that elsewhere is better. That's the hilarious part.
    The oul grass is greener stuff is gas.
    Many of the QLI reports would suggest there is some '(lol) measurable hierarchy'

    https://www.internations.org/expat-insider/2018/quality-of-life-index-39586
    (ranked 46, one behind the UK, but one ahead of the US).

    However some others (Economist Intelligence Unit) ranked Ire at #12, but that was back in 2013. Of course much of it is subjective and each study may set it's own criteria and value.

    'A nice bit of weather' should perhaps carry more weight than other factors. Sure everyone loves a bit of sunny beach time.


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    #77
    El_Bee
    Registered Users Posts: 933 ✭✭✭El_Bee


    A Tyrant Named Miltiades! wrote: »
    Government debt.

    Don't even lets get started on private debt.


    Yeah I think the bigger issue is household debt, I think we're may more exposed than we were in 2007/8


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    #78
    jimbobaloobob
    Registered Users Posts: 5,153 ✭✭✭jimbobaloobob


    ILoveYourVibes wrote: »
    I have zero debt.

    Not only that. No member of my family has any debt at all not even a car loan.

    And yes we own cars and property.

    Where do we sign up?


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    #79
    Pkiernan
    Registered Users Posts: 4,315 ✭✭✭Pkiernan


    Subtract the number of lifelong dole scroungers and recalculate the per capita figure if you want to make yourself cry.


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    #80
    Junkyard Tom
    Registered Users Posts: 10,117 ✭✭✭✭Junkyard Tom


    ATNM it's averagely bad, no? Our D2GDP% is lower than Canada's and a bit higher than Finland's.


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    #81
    Wanderer78
    Registered Users Posts: 28,941 ✭✭✭✭Wanderer78


    Pkiernan wrote: »
    Subtract the number of lifelong dole scroungers and recalculate the per capita figure if you want to make yourself cry.

    public debt isnt really much of a problem, as others have said, globally, private debt levels are far more significant


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    #82
    Hobosan
    Registered Users Posts: 582 ✭✭✭Hobosan


    A solution would be to temporarily switch to a grass based currency and pay off our debt with it, before switching back to the euro.

    It sounds like cheating but it's not. Large banks have used laughable tricks like this in court, pertaining to funds amounting to hundreds of trillions and gotten away with it!


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    #83
    _blaaz
    Closed Accounts Posts: 1,646 ✭✭✭_blaaz


    Wanderer78 wrote: »
    public debt isnt really much of a problem, as others have said,

    How can it not be a problem....if we hit a wobble econmically or eurozone deos (and lets face it,this is a strong strong possibility),we will need another bailout....given our level of debt,it wont be servicable....its pure head in sand stuff to say "it nathin to worry about"


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    #84
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    colm_mcm wrote: »
    Take it out of our dole. Fiver a week.

    Nah what about €150...


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    #85
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Saying we are a banana Republic is moronic, we're one of the most open economies in the world. The exact opposite of a banana republic.

    We do have the problem of all democracies (the worst form of government bar all others) in that politicians need to get elected every five years or so by popular vote.

    FF continuously bought elections time and again and the Irish electorate were complicit.

    Every now and then FF were so poor FG and another party got it in. But only after the economy hit rock bottom and unpopular or stupid (VAT on children's shoes) policies meant FF were welcomed back with open arms at the next election. It was like the abusive partner being asked back into the marital bed.

    The most recent and spectacular shít show has given FG and partners more time, but already the people are begging to suck FF cok once more. That's what disappoints me about the Irish system.

    FG should be able to pay off the national debt, but if they did they'd be holding the reins just to pass onto FF at the next general election.


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    #86
    Ubbquittious
    Registered Users Posts: 6,194 ✭✭✭Ubbquittious


    Hobosan wrote: »
    A solution would be to temporarily switch to a grass based currency and pay off our debt with it, before switching back to the euro.

    It sounds like cheating but it's not. Large banks have used laughable tricks like this in court, pertaining to funds amounting to hundreds of trillions and gotten away with it!




    The more laughable the better. Sure the whole financial system is only pretend anyway. For some reason the politicians are deathly afraid of using such tactics though


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    #87
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    _blaaz wrote: »
    How can it not be a problem....if we hit a wobble econmically or eurozone deos (and lets face it,this is a strong strong possibility),we will need another bailout....given our level of debt,it wont be servicable....its pure head in sand stuff to say "it nathin to worry about"
    Looming recession or not this is not 2009 all over again. In the main debt is for public spending and replacing other more expensive debt. Our repayments are affordable. Some austerity Budgets would take care of how much we'd require.


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    #88
    Ubbquittious
    Registered Users Posts: 6,194 ✭✭✭Ubbquittious


    is_that_so wrote: »
    Looming recession or not this is not 2009 all over again. In the main debt is for public spending and replacing other more expensive debt. Our repayments are affordable. Some austerity Budgets would take care of how much we'd require.


    Who would put up with more austerity budgets?


    During the last recession FFG have already pushed the average revenue per hapless working individual up by several 1000 and it hasn't come down much


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    #89
    _blaaz
    Closed Accounts Posts: 1,646 ✭✭✭_blaaz


    is_that_so wrote: »
    Looming recession or not this is not 2009 all over again. In the main debt is for public spending and replacing other more expensive debt. Our repayments are affordable. Some austerity Budgets would take care of how much we'd require.

    We paid 35 billion last 5 years in interest payments.


    If ireland for whatever reason stuggles to raise money again,we would require a bailout....there isnt 7 billion of cuts to be made in the economy (no mind trying to reraise principal!),many public services are at creaking point as it is due to population increase??


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    #90
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    Ubbquittious wrote: »
    Who would put up with more austerity budgets?


    During the last recession FFG have already pushed the average revenue per hapless working individual up by several 1000 and it hasn't come down much
    If needed we'd have no choice to keep things under control. I'd expect that control to be on spending and not the extreme measures that had to be taken between 2009-2014. Revenue per person doesn't matter at all as it's never really repaid.


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    #91
    Ubbquittious
    Registered Users Posts: 6,194 ✭✭✭Ubbquittious


    is_that_so wrote: »
    If needed we'd have no choice to keep things under control. I'd expect that control to be on spending and not the extreme measures that had to be taken between 2009-2014. Revenue per person doesn't matter at all as it's never really repaid.


    It matters to the person paying it. I would prefer if we used some unorthodox or laughable tactic to shake off this debt, burn it into the constitution that no government can take on debt again and be done with this nonsense. Investors are essentially living off our backs because our government has never been able to control its spending


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