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Another recession?

Away With The Fairies

Are we due another recession? The last one and I don't think we fully recovered. Big cities are ok but certainly in small towns and villages and they haven't recovered.

The last one, there were so much job losses. There was something every day. 500 jobs yesterday and 320 job losses reported in the news. Is this the start of another recession?

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Fr_Dougal

enricoh wrote: »

This is all i could get on a quick google. No he wasnt slating staff, just saying a lot of our competitive advantage is gone, colleges dropping down rankings etc etc
https://www.google.com/amp/s/amp.breakingnews.ie/business/ireland-too-costly-warns-intel-boss-294547.html

You’re making things up now.

If you can find that link that backs up your earlier statement, that would be great.

I’d say we’ll be waiting a long time for it.

[Deleted User]

Sorry. Recessions have ended. We've learnt from the mistakes and this time things will be different. As that great Sunday Independent economist, Brendan O'Connor perceptively advised, in July 2007, 'All the smart, ballsy guys are buying up property.'

uck51js9zml2yt

MrAbyss wrote: »

We joined the EU and went for slavery instead.

One sure thing about slavery..... You were always sure of your next meal, a place to live....and s good beating:)

Dawido

enricoh wrote: »

I think it was the irish head of intel that said 20 years ago he could go to the states n have a list the length of his arm why intel should invest its new plant in ireland over other countries.
He said now there is only one positive reason - corporation tax.
If that get hit by the eu it could get hairy quickly!

I agree man. I always laugh when people think the Multinational companies are here for 'Irish Talent' hahahahah. If it wasn't for the tax cut's for corporations they would be gone within days...

Wanderer78

enricoh wrote: »

This is all i could get on a quick google. No he wasnt slating staff, just saying a lot of our competitive advantage is gone, colleges dropping down rankings etc etc
https://www.google.com/amp/s/amp.breakingnews.ie/business/ireland-too-costly-warns-intel-boss-294547.html

ah shur, if they paid a bit more tax, it would soften the blow of any downturn

Richard Hillman

Ignore the GDP projections, they can be volatile due to the nature of the Irish economy and the size of multinationals skewing it.

Spending power has been declining over the last number of years. Lower paid workers have been worse off year after year with mild to no tax breaks and the cost of living rising.

Non of this is brexit related either.

enricoh

NIMAN wrote: »

Is there a link to show he actually said that?

It doesn't say much for the quality of his staff if he honestly believes that.

This is all i could get on a quick google. No he wasnt slating staff, just saying a lot of our competitive advantage is gone, colleges dropping down rankings etc etc
https://www.google.com/amp/s/amp.breakingnews.ie/business/ireland-too-costly-warns-intel-boss-294547.html

c.p.w.g.w

[Deleted User] wrote: »

Just saw this article in the Indo. The headline says it all, (which is good because you have to register to read the article)

Link to gloom

But Zimmer and EI have had a recent recruitment drive both in Shannon. Molex has been in trouble on/off for the last 12 years

[Deleted User]

Just saw this article in the Indo. The headline says it all, (which is good because you have to register to read the article)

Link to gloom

miece16

I'm just still waiting for the Bertie Bowl to be built

Doctors room ghost

whisky_galore wrote: »

Every second kid wanted one after Shrek came out. Mammies and Daddies with more money than sense who couldnt say no.

And the poor fcukers in the donkey sanctuary are picking up the pieces since.
There was donkeys turned loose into bogs and forestry to get rid of the spoiled brats latest fad.

smelly sock

MrAbyss wrote: »

The government should have ploughed forward and built the Metro and DART Underground and put the costs on the long finger. Allowed massive high rise housing. It would have created tens of thousands of jobs and we'd be in a better shape to handle the deep recession coming.

When a recession happens you build the biggest infrastructure, not cancel it.

This.

Im a public sector worker and the best time to hire in that sector is during a recession. You get better bang for your buck. Instead governments put a ban on recruiting.

whisky_galore

During the Celtic tiger donkeys we’re making huge money.you would get a jack donkey today for under 100.

Every second kid wanted one after Shrek came out. Mammies and Daddies with more money than sense who couldnt say no.
A lot of em probably living out their days in the donkey sanctuary, the luckier ones that is.

Doctors room ghost

[Deleted User] wrote: »

thats a good tip there. How are horse prices at the minute? And where is a good place to keep a check on them?

Done deal or talking to farmers.
Prices at the minute are only average having not peaked into crazy money since the last recession but I can see the market for them slipping further in the next few months.
Not a big go for them.
During the Celtic tiger donkeys we’re making huge money.you would get a jack donkey today for under 100.
Another one to watch is the sale of hens.
During the last recession there was a great go on point of lay pullets where people wanted a few for the house for eggs.when the sale of horses goes down and the sale of hens goes up its time to tighten the belts

whisky_galore

It will come as surely as night follows day.

opentarget

Seanachai wrote: »

Been hearing rumours in past few weeks from the big clients my company has contracts with. One of them folded about a month ago.

Hearing rumors of what?

NIMAN

enricoh wrote: »

I think it was the irish head of intel that said 20 years ago he could go to the states n have a list the length of his arm why intel should invest its new plant in ireland over other countries.
He said now there is only one positive reason - corporation tax.
If that get hit by the eu it could get hairy quickly!

Is there a link to show he actually said that?

It doesn't say much for the quality of his staff if he honestly believes that.

c.p.w.g.w

I find the foundation of a lot of business' to be as solid as cream crackers.

Take retail, a whole industry of trying to sell people stuff that they don't actually need.

Then you have advertised will leads on from my first point. Lots of money spent on telling people they need stuff.

Everything to geared towards "growth"

Thelonious Monk

MrAbyss wrote: »

The government should have ploughed forward and built the Metro and DART Underground and put the costs on the long finger. Allowed massive high rise housing. It would have created tens of thousands of jobs and we'd be in a better shape to handle the deep recession coming.

When a recession happens you build the biggest infrastructure, not cancel it.

Yup that metro plan will be cancelled as soon as the recesh kicks in. I can't believe people actually think it was ever going to happen, lol.

Seanachai

Been hearing rumours in past few weeks from the big clients my company has contracts with. One of them folded about a month ago.

Mad_maxx

tonycascarino wrote: »

With Germany entering recession and the upcoming Brexit which is bound to affect us, then yes, I do think a recession is not too far away.

Germany was in recession several times since 1990 and it had no effect on our economy, our economy tracks what's going on in America bar agriculture which relies on the UK

Mad_maxx

Haven Massive Iron wrote: »

People who want to live in that city? I'm not being a smartarse, but I don't understand the point of the question.

"people who want to live" include immigrants

The lack of places to rent in the cities is the key problem with the housing crisis

MrAbyss

The government should have ploughed forward and built the Metro and DART Underground and put the costs on the long finger. Allowed massive high rise housing. It would have created tens of thousands of jobs and we'd be in a better shape to handle the deep recession coming.

When a recession happens you build the biggest infrastructure, not cancel it.

[Deleted User]

Doctors room ghost wrote: »

Keep an eye on the price of horses.
When they are making big money the country is thriving.breakfast and chicken fillet rolls for every paddy Irishman in sight.bulgaria property back on the map.
When the price of horses drops its time to baton down the hatches and make your own breakfast and lunch.back to aldi.
When the recession kicks in proper they can’t give away horses.
That’s how I do judge economics

thats a good tip there. How are horse prices at the minute? And where is a good place to keep a check on them?

dotsman

weldoninhio wrote: »

The next one will be a lot worse that the first one. Hopefully coming soon and will reset Treasure Ireland. We are being fleeced.

People on here cheered for the last one. They even named it "Stephen". They thought thought it would be great because it would teach that "neighbour up the road with their SVU" a lesson etc. The cheered it because they thought it meant that they would be able to afford a (bigger) house.

They stopped cheering very quickly. Only an ignorant cúnt would desire a recession.

OneEightSeven wrote: »

We never got to enjoy any recovery because of the flood of cheap immigrants labour pushing up house prices and depressing wages. As soon as our economy recovered, we went straight into a housing crisis. I don't remember that happening in the late-90s.

Actually, we did have a housing crisis in the 90's. Funnily enough, it's the same one we have now - it's merely just grown bigger. We still haven't solved it. Mainly because we haven't even taken any steps to begin to solve it.

Ireland began to modernise in the late 80's early 90's. We all know about the massive social impact and the massive increase in the standard of living. However, a third part of this modernisation has been ignored - and that is planning for modern cities.

As we move more and more to a knowledge economy, the more jobs will be based in cities. We have grown from 3.5 million to 4.8 million since 1990, with less people per household, and the bulk of the population living (or needing to live) in cities. Yet our cities still resemble small industrial era towns with rings of low-density suburbs surrounding them and rings of commercial parks surrounding them, with cars and buses the main form commuting. The whole concept of a "commercial park" is "planners don't have a clue what a city is".

NSAman

There is no doubt another recession is coming.

It is all cyclical. When the Dow hits these heights you can be damned sure that it will all fall apart so the original investors take out the money and ordinary investors are left to get crumbs or more importantly loose their shirts.

During the last recession I remember getting on flights (for work) and they were empty, these same flights are now full each time I have to take them. (Same as pre-“boom” times).

Some people have learned their lessons, I know I am very very wary of doing anything silly and have saved and only bought when I can fully purchase something. No debt here!

Looking at the economy here (in the States) it is interesting. Finding workers is almost impossible. Everyone is hiring. Going into my local town, every business has “for hire” signs. However, retail is being decimated by online shopping. Larger corporations are starting to lay-off people, some of the largest and well know corporations are closing plants and that is a REAL sign that cracks are showing in this economy.

I honestly think this recession will be 1920s style.

Wanderer78

Haven Massive Iron wrote:

Who were the banks lending money to?

'Behind a bad borrower, is a bad lender'!

topper75

Doctors room ghost wrote: »

Keep an eye on the price of horses.
When they are making big money the country is thriving.breakfast and chicken fillet rolls for every paddy Irishman in sight.bulgaria property back on the map.
When the price of horses drops its time to baton down the hatches and make your own breakfast and lunch.back to aldi.
When the recession kicks in proper they can’t give away horses.
That’s how I do judge economics

Yeah I wouldn't know that market myself but sometimes simple barometers like this can cut through the distortions of 'official' data.

Watching how many people are actually carrying a bag(s) in a shopping centre mall/ downtown or central shopping district area can be revelatory. People mope about town or a shopping centre to have coffee in a downturn but tend not to carry shop bags. I know internet shopping has diminished this effect somewhat but it is still real and useful.

[Deleted User]

5 countries currently looking to 'ditch' the dollar, or phase out their use of the dollar from their exports.

China, India, Turkey, Iran, Russia

A weakened Dollar would not be in Ireland's favour as we depend so much on US multinationals. The US economy directly impacts Ireland's economy.

smelly sock

Might be able to get a modest 25sq meters extension for less than 80k. I'll be holding off for a few years yet.