nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

Recession is back baby

ShockChance

Ireland now officially in recession as economy shrinks by 6.1%

https://www.irishtimes.com/business/economy/ireland-now-officially-in-recession-as-economy-shrinks-by-6-1-1.4348513

Got absolutely raped in the last recession. At least this time I have a good chunk of savings. Let the fun begin.

Find more posts tagged with

Quick Links

Comments

[Deleted User]

Tuco88 wrote: »

.........

Can/Aus citizenship is the golden ticket now.

Loads of folk worked through the last recession and loads will work through this one too.

Plumbthedepths

Gretas Gonna Get Ya! wrote: »

There's plenty of countries whose economy has been pretty rubbish for decades, but most of the people stick around and don't run away.

And they especially don't run away, and then throw around empty rhetoric about how they love their country... despite having no interest in actually living there. Like many of our fine patriots do!

People of over 200 different nationalities living in Ireland, I assume some of the countries they came from have a crap economy or very low wages.
CSO data btw.

[Deleted User]

Deleted User wrote: »

It's times like these which is why I chose to work in the public sector.

Don't be p1ssing and moaning if you get a pay cut or extra levies

CBear1993

ShatterAlan wrote: »

There is NO recession-proof job.

NONE.

Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

Yes there are. If you work in pharma or on data centers at the moment. Those guys don’t stop. They worked all through Covid.

Gregor Samsa

Gretas Gonna Get Ya! wrote: »

There's plenty of countries whose economy has been pretty rubbish for decades, but most of the people stick around and don't run away.

Yeah, but "most people" haven't emigrated from Ireland either, even during the really bad times. Anyway, that doesn't answer the question I asked. I'm beginning to suspect you're not basing your opinion on any actual facts.

s1ippy

ChikiChiki wrote: »

Not entirely sure you understand the problem with huge numbers of unemployed remaining on home soil. The argument is silly.

And to further elaborate - some economies are perenially in the toilet. People cannot leave these countries because they are poor. Luckily in Ireland, we have the means to go elsewhere to better our lives when we need to instead of hanging around damaging our mental health and letting a huge experience gap grow on the CV.

I can just see the new row on CVs now. "Experience: domestic patriotic duty"

Maybe the patriots could join the FCA for free clothes and €0.20ph.

tabby aspreme

ShatterAlan wrote: »

There is NO recession-proof job.

NONE.

Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

Coffins are mainly made from MDF, very little wood in them, undertakers won't suffer, they will up their prices

_Brian

Plumbthedepths wrote: »

Wasn't he sat at the Cabinet table when the economy went off the cliff several years ago? That is what I base my opinion on.

The global economy went off a cliff. Did you seriously think Ireland would be immune to that. ?? If you think that a small export based economy like ours could withstand a global economic crash then you probably shouldn’t be commenting on grownup stuff.

_Brian

This year in itself has no rules to follow.

Yea technically we’re in recession but I’d like to see next quarters numbers.

Still massive challenges out there with Brexit being but one.

ShineOn7

Atlantic Dawn wrote: »

From memory mortgage lending will stop first, house prices will tank.

Fcuking hopefully!

[Deleted User]

_Brian wrote: »

This year in itself has no rules to follow.

Yea technically we’re in recession but I’d like to see next quarters numbers.

.............

Indeed, the quarter that included a lockdown where restaurants, hotels & retail were all closed was always going to be fairly bad. Q3 results will be buoyed by domestic tourism but we'll have that next year also you would hope.

Wanderer78

ShockChance wrote: »

Ireland now officially in recession as economy shrinks by 6.1%
Got absolutely raped in the last recession. At least this time I have a good chunk of savings. Let the fun begin.

lets hope bank bail ins dont become popular during this one, just to rape you even more!

ShineOn7

Gretas Gonna Get Ya! wrote: »

Another recession, but all the patriotic folks who love to flee the sinking ship now have to stay on board and see out the storm!

And you seem delighted about it? Why?

OMM 0000

Atlantic Dawn wrote: »

Yes this one's a different kettle of fish, very few outs for people to head abroad to seek work.

China is absolutely desperate for English teachers.

Salary would be around 3k or so per month.

You would be able to save a big chunk of that.

Requirements are you have a degree and ideally are white (China is a racist country).

storker

ShineOn7 wrote: »

And you seem delighted about it? Why?

This thread should be re-titled "Recession Porn".

screamer

House prices won’t fall off a cliff, not new houses amyways. Help to buy is very good and with the specs that houses have to be built to these days for mech and elec, the days of cheap new houses are gone. You may see some reduction in the second hand market, but depends on the area again. I don’t see the oversupply we had last time, and much as people give out about lack of housing, I understand why there can’t be that glut of houses, construction needs to be sustainable, and it has a better outlook now than last recession.

Wanderer78

screamer wrote: »

House prices won’t fall off a cliff, not new houses amyways. Help to buy is very good and with the specs that houses have to be built to these days for mech and elec, the days of cheap new houses are gone. You may see some reduction in the second hand market, but depends on the area again. I don’t see the oversupply we had last time, and much as people give out about lack of housing, I understand why there can’t be that glut of houses, construction needs to be sustainable, and it has a better outlook now than last recession.

im convinced myself they will either, but we both could be wrong, plenty of credit is still available to those that can afford it anyway, to maintain prices

oceanman

recessions like boomtimes are just a part of life that most of us will experience several times throughout our lives, noting much we can do about. one is just an overcorrection of the other. learn to live with both.

[Deleted User]

Augeo wrote: »

Don't be p1ssing and moaning if you get a pay cut or extra levies

In fact, a 2% pay rise in October and position been uplifted. I imagine that we'll be hit hard with USC though. We all have to make sacrifices.

KungPao

ShineOn7 wrote: »

Fcuking hopefully!

I wouldn’t get too excited. Still a big shortage of properties and that will keep prices up, unless the economy really goes down the toilet. But then no one would have money to buy anyway unless they’re genuinely well-off. And people will be very reluctant to sell at considerable loss.

Wanderer78

oceanman wrote: »

recessions like boomtimes are just a part of life that most of us will experience several times throughout our lives, noting much we can do about. one is just an overcorrection of the other. learn to live with both.

disagree there, to a degree, it was well known that the current event of a pandemic and the previous crash, were inevitable events, we were pre warned of both events, but we chose to largely ignore these warnings, therefore failing to prepare for them, effectively. theres some great ideas out there to try reduce the effects of such events, but we regularly ignore them

Wanderer78

KungPao wrote: »

I wouldn’t get too excited. Still a big shortage of properties and that will keep prices up, unless the economy really goes down the toilet. But then no one would have money to buy anyway unless they’re genuinely well-off. And people will be very reluctant to sell at considerable loss.

again, theres still access to plenty of credit, for those that can afford it, to maintain prices also

Risteard81

Eleven Benevolent Elephants wrote: »

I take it you weren't alive pre 1973 and you've never read a history book.

Perhaps I'm just intelligent enough to understand that the Heroes of '16 did not die for a European superstate.

For what died the sons of Róisín?

[Deleted User]

Deleted User wrote: »

.............. I imagine that we'll be hit hard with USC.

Perhaps not but it'd be likely you'd imagine ........ Programme for government was Carbon tax increases heavy but no hikes in income tax or USC planned iirc.

screamer

Wanderer78 wrote: »

disagree there, to a degree, it was well known that the current event of a pandemic and the previous crash, were inevitable events, we were pre warned of both events, but we chose to largely ignore these warnings, therefore failing to prepare for them, effectively. theres some great ideas out there to try reduce the effects of such events, but we regularly ignore them

I think for us all personally the only way to mitigate the impact of these events which seem to occur more frequently is to save in the good times for the bad. I think that’s. a story from the bible I remember from childhood, it goes to show as humans, we’re slow learners.

landofthetree

oceanman wrote: »

recessions like boomtimes are just a part of life that most of us will experience several times throughout our lives, noting much we can do about. one is just an overcorrection of the other. learn to live with both.

The increases in public spending of today is the austerity of tomorrow.

As the great Milton Friedman once said it's really only an accident when any democratically elected government runs a budget surplus.

https://m.youtube.com/watch?v=UlNxIc9gUMc&t=266s

Irish_peppa

Am i the only surprised the economy contracted by a mere 6%. Sure the whole country was effectively shut down for months.

ChikiChiki

OMM 0000 wrote: »

China is absolutely desperate for English teachers.

Salary would be around 3k or so per month.

You would be able to save a big chunk of that.

Requirements are you have a degree and ideally are white (China is a racist country).

Could be an option. Have you done a TEFL course and does it take long?

I'm consulting atm with a degree but the contractor ground is very shaky so need to branch out my skillset. Also would be a good opportunity to learn Chinese.

screamer

Risteard81 wrote: »

Perhaps I'm just intelligent enough to understand that the Heroes of '16 did not die for a European superstate.

For what died the sons of Róisín?

Idealism I believe is the answer there, they certainly weren’t the beneficiaries of what came afterwards. But life moves on, the world Changes, survival spurns necessity sand we are where we are.

Wanderer78

screamer wrote: »

I think for us all personally the only way to mitigate the impact of these events which seem to occur more frequently is to save in the good times for the bad. I think that’s. a story from the bible I remember from childhood, it goes to show as humans, we’re slow learners.

what if you have limited ability to save? the world has changed dramatically since the writings of the bible, a lot of the information in it, is largely irreverent now, but a lot is also still relevant, to some, anyway, we do not live in a black and white world