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are u feeling the recession?

steo123

in the media day in day out we hear the celtic tigr is dead!

how bad is it really?

personally speaking i have been as yet unaffected!!luckily!

anybody out of work/unable to get work due to the recession???

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loozinfat

steo123 wrote: »

in the media day in day out we hear the celtic tigr is dead!

how bad is it really?

personally speaking i have been as yet unaffected!!luckily!

anybody out of work/unable to get work due to the recession???

Recession? I am doing better now than ever!

tallaght01

It's already been said, but you really just have to look at the 80s and 90s to the bad old days to see what a real recesion was like.

I remember growing up, in particular when I was at primary school in the late 80s, and the amount of unemployment arod was shocking. Well, it wasn't at the time, it was pretty normal for a lot of our neighbours to be on the dole. But compared to now it was shocking.

Plus we were totally dependent on one or 2 big companies in tallaght, like hewlett packard, or jacobs, or dunnes. It seemed like everyone worked there. And when packard closed down, half my estate became redundant.

My dad had a job most of the time, but even then things were really tight as a youngster. Most people were paid on a thursday or friday, and no-one ever had any money left by tuesday.

My youngest sister was a teenager when things improved economically, and had everything she could want. It was great, and she laughs when we tell he about how a bottle of fizzy lemonade on payday was a huge huge treat for us.

But then again, for people who experienced Ireland in the 50s and 60s, what we went through in the 80s and 90s was relative affluence. I think if we have another recession it won't be as bad as the previous ones.

But what's happening currently certainly seems to me to be a "tightening of the belt" situation rather than a recession. Some of the people at home who've been telling me about the "recession" are thinking of coming to oz to visit me, so it can't be that bad

SimpleSam06

Kovik wrote: »

Hey, I'm not saying the bubble won't or can't burst, but in terms of this recession it seems to be holding strong and I don't see us enduring any substantial negative growth for the time being.

Er property prices nationally are dropping by around 10% year on year, which is 13 or 14% factoring in inflation. If you had a property worth €400k last year, chances are good thats its only worth around €350k now. By any standards thats a spectacular collapse, and it shows no signs of slowing. If that keeps up for another four years, not at all unlikely, property prices will be roughly halved.

gixerfixer

SimpleSam06 wrote: »

Er property prices nationally are dropping by around 10% year on year, which is 13 or 14% factoring in inflation. If you had a property worth €400k last year, chances are good thats its only worth around €350k now. By any standards thats a spectacular collapse, and it shows no signs of slowing. If that keeps up for another four years, not at all unlikely, property prices will be roughly halved.

+1.But we are talking ourselves into a recession :rolleyes:.Fact is every week people are finding that the house they live in is not worth anything near what they paid for it.Now that IMO is bad news indeed

SimpleSam06

gixerfixer wrote: »

But we are talking ourselves into a recession :rolleyes:.

The recession and property collapse aren't directly linked, we are indeed talking ourselves into a recession to an extent. A recession implies the slowing of capital movement, people not spending money.

Ironically, someone making the decision to not buy things is both taking the correct course of action to survive a recession, and prolonging it. If it keeps up for long enough we find ourselves in a depression, which has traditionally followed periods of excess, and not immediately either. The great depression didn't come until years after the wall street crash - it takes time for these things to trickle down to the ground level.

Probably the best thing is to get out of debt just as fast as you can, then live within your means. While that might cause a reduction in the quality of life for some people, well the money has to be repaid sooner or later anyway.

Spud83

A serious discussion in AH.

I'm off to report this.

But to add in I have not felt any effects of the recession but I have never been a big spender anyway and have always lived within my means. I think its effecting the people with large debts firstly and well I think its there own fault for getting into such debts.

I have seen it effect other people though like my brother, and uncle who have both lost there jobs and are struggling to find one there respective fields. Neither are linked to the construction industry. engineerering and Manufcaturing seem to be getting hit fairly hard.

chuci

i cant get a job left to do 3 months of travelling promised my job would be there when i came home. it wasnt:( i have no money. but it dont know if it has been more to do with the HSE or recession. anyone looking for a nurse?

SheroN

chuci wrote: »

i cant get a job left to do 3 months of travelling promised my job would be there when i came home. it wasnt:( i have no money. but it dont know if it has been more to do with the HSE or recession. anyone looking for a nurse?

Sponge bath?

jackal

SimpleSam06 wrote: »

we are indeed talking ourselves into a recession to an extent.

Its been said before elsewhere. If we can talk ourselves into a recession, then surely with a bit of positive thinking we can talk ourselves into being a superpower?

Talk is just talk. Ireland has borrowed itself into this bust, talk wont pay the interest on all those loans.

SimpleSam06

jackal wrote: »

Talk is just talk. Ireland has borrowed itself into this bust, talk wont pay the interest on all those loans.

The bust is a seperate but related phenomena. What I'm seeing now is a lot of businesses making conscious decisions to delay payment or not pay at all, purely due to talk of a recession, not all of whom have loans of any size outstanding. This may or may not be reflected on the consumer level just yet, but ultimately it will be.

token56

The country as a whole is still far better than it was 20 years ago, even 10 years ago. But there is a certain decline in the economy although I wouldn't call it a recession. Personally I have not felt it but I know several who have, especially the close freiends and family loosing jobs and some business's closing down in mu local area. I think the country is going through leveling out period after the rapid growth we have seen in the recent past. The level of growth in places like the building sector could never have been sustained and it is now calming back down. Things are getting a bit tighter but no need to panic. Things like spiralling oil prices just add to people fears.

Kovik

SimpleSam06 wrote: »

Er property prices nationally are dropping by around 10% year on year, which is 13 or 14% factoring in inflation. If you had a property worth €400k last year, chances are good thats its only worth around €350k now. By any standards thats a spectacular collapse, and it shows no signs of slowing. If that keeps up for another four years, not at all unlikely, property prices will be roughly halved.

That's oversimplifying. The average value of a house fell 7% in 2007, 3% thus far in 2008. However, certain areas of housing development (such as semi-detached urban and certain suburban areas outside Dublin) have seen a consistent increase. The bubble will burst when banks stop lending to these developers and begin refusing mortgages to new homes. It's the case, however, that Dublin construction has come to a standstill. While certain households find themselves in negative equity, we've seen no enormous increase in foreclosures.

Markets fluctuate, no argument there, and the construction and property development sectors will take a hit. But the bursting of a housing bubble comes in the guise of a subprime crisis in which parties can no longer afford the repayments on the asset against which they borrowed. Thus far, there's been little if any indication of that, suggesting that the majority of the Irish property sector exists not purely for the purposes of private investment to turn a profit but quite simply that there's been a necessary increase in building and home-ownership in our new money economy. Property, particularly in this country, has more eccentricities than other asset markets.

Also, I love my brick.

SimpleSam06

Kovik wrote: »

That's oversimplifying.

Yah, take it to the housing bubble thread in property, I'm not dealing with this here, having been down the same road too many times.

[Deleted User]

We were considered quite well off because we had two phones and two cars (although my mum's car would always be a bit of a jalopy) and we went to Britain every year..

But you WERE very well off. Back then it was fairly posh to have 2 family cars and nobody went on foreign holidays 3 times a year. I lived in England as a kid, in a middle class area and people thought we were very posh because we had 2 old, used cars (my dad had a long commute) and went to Ireland every summer. Most people there were lucky to go to Cornwall for a week. It wasn't deprivation, but people didn't have as much 'stuff' back then. I'd get a couple of cassette albums for Christmas and be happy. Going camping in France was incredibly exotic. And this wasn't long ago at all! Flights got so cheap in the last few years that almost anyone could afford a week in the Canaries. I remember well when a flight from Liverpool to Belfast was a few hundred euro per person. Some of the points made on this thread are true but I don't think your experiences were unique to Ireland.

[Deleted User]

I'm a starving student. We're always in recession!

Tusky

Well I cant seem to get a job at the moment so yeah, im feeling it.

RayM

I'm not feeling the recession, but then I never really 'felt' the 'Celtic Tiger' either.

[Deleted User]

Recession eh?

Next thing we know, everyone will be going into depression mode and quoting wall street.

galwayrush

RayM wrote: »

I'm not feeling the recession, but then I never really 'felt' the 'Celtic Tiger' either.

The Celtic Tiger was just one big Loan / Overdraft.:mad:

Stephen90

Yeah feeling it a little alright. I'm a student and I recently lost my part time job which I relied on hugely to basically eat in college. I suppose luckily it was just a few weeks after term ended for summer, but out of 35 CV's I handed out over the local area, I got 3 replies and 2 interviews. Luckily I did manage to grab one of them which I'm starting soon, but I know from this time last year when I was doing the same thing I would have gotten at least 10 replies when my CV was even weaker than now a year on.

Also all these new estates are plastered with red signs across the main boards at the entrance saying 'PRICE REDUCTION' & 'SPECIAL RATES AVAILABLE' etc...

It's not hard to see it out there folks.

bug

Recession = Soda Stream.

Any time things were crap in the 80's we got Soda Stream.
Dad's business went bust .. here have a soda stream and stay outta his way.

Aside from that I think people are feeling the pinch at the moment, due to the fact they can't get credit any more, but no I don't think that we are full launch into a recession.

Be interesting though to see how things go.

In saying that I've heard of a good few sparks on a three day week at the moment, it seems to be killing tradesmen more than anyone.

stink_fist

Everyone will be feeling it soon enough

AckwelFoley

i took redundancy from my 10 year job in March

14k ftw

Coke and hookers.

So yea, its affected me.

RayM

Just looking at Vincent Browne's programme on TV3... Most of tomorrow's front pages feature the word 'recession' in rather large letters.

ateam

RayM wrote: »

Just looking at Vincent Browne's programme on TV3... Most of tomorrow's front pages feature the word 'recession' in rather large letters.

When one thinks of a recession images of mass emigration and high unemployment comes to mind. But now a recession means that family's will only be able to afford 2 holidays a year, only a buy a new car every 3 years instead of 2, eat out only once a week. I mean a recession in 2008 is nothing compared to the 1980s.

billy the squid

Yup, feeling the recession, actually, the company I worked for went under last year and work has been scarce. hoping to get into college in September to pick up some qualification as the 6 year job I had was factory work.

The main worry I would have is that people haven't experienced a recession in a very long time, 25 years, and are still spending despite jobs beinglost left right and centre. It will hit the fan when the banks start calling in those loans, people are losing their houses in the states by the thousands, if that spreads here then we are really in the ****ter.

BigglesMcGee

Stephen90 wrote: »

Yeah feeling it a little alright. I'm a student and I recently lost my part time job which I relied on hugely to basically eat in college. I suppose luckily it was just a few weeks after term ended for summer, but out of 35 CV's I handed out over the local area, I got 3 replies and 2 interviews. Luckily I did manage to grab one of them which I'm starting soon, but I know from this time last year when I was doing the same thing I would have gotten at least 10 replies when my CV was even weaker than now a year on.

Also all these new estates are plastered with red signs across the main boards at the entrance saying 'PRICE REDUCTION' & 'SPECIAL RATES AVAILABLE' etc...

It's not hard to see it out there folks.

When you send your CV out and get NO replies, becauise anyone who has a job hangs onto it for dear life keeps it and wont move, therefore freezing whtas left of the job market like a lump of ice. So anyone not in a job or losing a see any vacancies open up anywhere. Thats when you'll know the meaning of the word 'Recession'

gixerfixer

BigglesMcGee wrote: »

When you send your CV out and get NO replies, becauise anyone who has a job hangs onto it for dear life keeps it and wont move, therefore freezing whtas left of the job market like a lump of ice. So anyone not in a job or losing a see any vacancies open up anywhere. Thats when you'll know the meaning of the word 'Recession'

Ya mean like 160+ people applying for a job in the local spar.Because that's what's happening right now today.In truth we are not a million miles away from what you describe above.The dole Q doesnt lie.Up week on week every week.Hard times ahead

chuci

SheroN wrote: »

Sponge bath?

ill take you up on that if you pm me we can discuss payment rates:p

DonJose

Sherifu wrote: »

What recession?

Ponster wrote: »

There is no recession.

Einstein wrote: »

i dont think we're anywhere close to a recession yet...

Wertz wrote: »

If by "recession" you mean "yore ma" then yes.
Otherwise no.

elmolesto wrote: »

Recession? What are you on about?

nesf wrote: »

A recession? No.

Nice call Steo123.

The rest of you,

http://imagecache2.allposters.com/images/pic/ATA/24818BP~Nelson-Posters.jpg