A global recession is on the horizon - please read OP for mod warning

Irish banks in good shape, they paid off TLTRO loans early with plenty left in reserve. I think the vast majority is due in June sometime unless it has been extended.

He is right, it was Putin and the CCP communists who did it.

No mention here about the employment figures released today or about wage inflation despite being in the news. The economy is still strong despite rate hikes.

....ah shur, nothing to be worrying about really, banks will be bailed out if needs be!

mcwilliams isnt the only one heavily criticizing central banks, you can see theres a widescale deep misunderstanding in regards inflation, and ultimately how to deal with it, its disturbing to see how lost central banks are.....

"Gross domestic product has decreased significantly more than expected following a contraction of 15.7% in multinational-dominated sectors.

New findings from the Central Statistics Office found that GDP fell by 4.6% in the first three months of 2023, with Gross National Product - which excludes multinational profits and repatriations - falling even more sharply by 8%."

DMW gets on my tits. He's so smug. 😁 Articulate, intelligent, but smug. He is successful because he was the first celebrity economist in Ireland and could feast of the housing crisis here since the Celtic tiger from his ivory tower. 😁😁

True, however GDP is probably more relevant when it comes to state revenues as MNCs corporate taxes that arent part of the "real" irish economy are still paid here at the end of the day. So a decline in MNC exports and profits means less cash for Ireland Inc.

..there is an element of truth in regards deficit spending, we ve been largely funding our economies from financial sector created money, i.e. credit, and its turning out to be an absolute disaster, the only way to counteract this is by increasing public spending, i.e. money creation via deficits.....

...but since we want to maintain financial sector control and power, this wont be happening anytime soon, if ever, so......

OPEC to cut production in 2024 by 1.5 million barrels / day. Also in July Saudi will voluntarily cut 1 million / day which may be extended.

It looks like they are expecting quite a slowdown coming shortly

QE has been around 10 years and didn’t produce inflation in the CPI because the money never got out into the wider economy instead it lead to asset inflation because the money remained mainly Witt he finance sector. it was only when QE was accompanied by fiscal spending that money got out into the real economy and generated inflation.

I also felt the current high inflation must be, at least partly, caused by QE.

However, I put that point to a senior economics professor, who stated the 2021-2023 high inflation is not purely due to QE.

He did agree that QE lead to inflation in asset prices, and other unwanted outcomes in financial markets.

He has a point, the inflation started in late 2021, long after QE started.

Ah shure the multinationals are doing great. Everyone else must be fine. It all filters down dont ya know.