Recession officially over

Paddy Samurai · 30-06-2010 12:45PM #1

Hurrraaaah!.............break open the champagne,we are all rich again.:D

Might buy myself a few investment properties.......eh if i can get a bank loan.

The Irish recession officially ended at the start of the year, new figures revealed today.
According to the Central Statistics Office (CSO), the value of all goods and services in the country, measured by GDP, grew by 2.7pc in the first three months of 2010 compared with the last three months of last year.
GDP fell by a record 7.1pc last year - the largest decline in output recorded in a single year.

http://www.independent.ie/business/irish/recession-officially-over-2240269.html

Banned Account · 30-06-2010 12:47PM

Hooooooooray - hey OP, any chance I could borrow a tenner?

chin_grin · 30-06-2010 12:48PM

It'll never be over for those who were in it..........<airplane noises, bombs exploding, gunfire, "sucky sucky fi' dolla'?">

<shudder>

Fizman · 30-06-2010 12:48PM

Ya the recession was over when the status changed to depression.

orourkeda · 30-06-2010 12:48PM

economic paradigm shift going forward. such a proactive and dynamic tipping point

Nijmegen · 30-06-2010 12:50PM

I miss it already. Remember how we were all closer together, helping one another out and there was a great spirit of community? Kids these flush days don't have that.

---Is what we'll be saying in ten years, similar to the late 1990's onwards. Bull.

sensibleken · 30-06-2010 12:50PM

Thank god. I was getting sick of paying under 6 quid for a pint

SV · 30-06-2010 12:50PM

Now, who'd like to buy my house?
3 bedroom, semi detached...

€550,000 sound fair?

Cookie_Monster · 30-06-2010 12:50PM

Fizman wrote: »

Ya the recession was over when the status changed to depression.

indeed, a recession can only last 6 months. it then becomes a depression.

Recession is 2 consecutive quarters of negative growth

just the usual media and gov spin

ejmaztec · 30-06-2010 12:50PM

Paddy Samurai wrote: »

Hurrraaaah!.............break open the champagne,we are all rich again.:D

Might buy myself a few investment properties.......eh if i can get a bank loan.

http://www.independent.ie/business/irish/recession-officially-over-2240269.html

Oh great, I must point this good news out to the bastards who owe me money. They've got no excuses not to cough up now.

iceax · 30-06-2010 12:52PM

only if it was true, I wonder did any one read the full report from the cso.!!! a load of ...........

Sykk · 30-06-2010 12:54PM

The recession has been officially over for months now.. Read up on how it works. We're still in the ****.

orourkeda · 30-06-2010 12:55PM

iceax wrote: »

only if it was true, I wonder did any one read the full report from the cso.!!! a load of ...........

We're out of recession in the technical sense. In practical terms nothing has changed.

MagicMarker · 30-06-2010 12:57PM

Hey guys, remember that time we were in recession! Those were the days!

Mike 1972 · 30-06-2010 12:57PM

Cookie_Monster wrote: »

Recession is 2 consecutive quarters of negative growth

So one doesnt know theyre in recession until theyve been in it six months ?

And how come it takes only one quarter of growth to take out of recession when it took two of decline to get us in it ?

If over a nine month period we get:
One quarter where the GDP shrank 8 % followed by
One quarter where the GDP grew 0.1 % followed by
One quarter where the GDP shrank 7.6 % %

it doesnt qualify as a recession because despite the economy shrinking by 15.5 % we didnt experience two consecutive quarters of decline ?

AnonoBoy · 30-06-2010 12:58PM

Excellent I can break out the mink coat and get people to blow coke up my ass at parties again without feeling like I'm showing off.

Nijmegen · 30-06-2010 01:00PM

Wonder if they'll re-open the expensive water shop in the airport?

ejmaztec · 30-06-2010 01:06PM

AnonoBoy wrote: »

Excellent I can break out the mink coke and get people to blow coke up my ass at parties again without feeling like I'm showing off.

I'm too cautious for that kind of carry-on, I'm just going to re-varnish my bench and replace my cardboard for now.

Biggins · 30-06-2010 01:08PM

Paddy Samurai wrote: »

Recession officially over

Not according to the New York Times yesterday: http://www.nytimes.com/2010/06/29/business/global/29austerity.html?hp

Neither agreeing or disagreeing with their assessment. Just posting their article.

derfderf · 30-06-2010 01:08PM

Anyone think the people of today are spoiled? Last years people really appreciated what they had.

jackiebaron · 30-06-2010 01:14PM

Paddy Samurai wrote: »

Hurrraaaah!.............break open the champagne,we are all rich again.:D

Might buy myself a few investment properties.......eh if i can get a bank loan.

http://www.independent.ie/business/irish/recession-officially-over-2240269.html

Bollocks! This is a double dip jobby. All stimulus was halted in the US at the end of March. That will lead to a second round of crashing later in the year. Next spring the Eurozone will barf again and we'll all be eating beans on toast under a bridge until 2015

markesmith · 30-06-2010 01:29PM

It's just more gick from the Indo, the useless corporate shills

GavRedKing · 30-06-2010 01:38PM

AnonoBoy wrote: »

Excellent I can break out the mink coke and get people to blow coke up my ass at parties again without feeling like I'm showing off.

/ Roll's up 500 euro note........

Raekwon · 30-06-2010 01:49PM

Yippy! The bankers and developers can finally see light at the end of the tunnel!

Big pat on the back for Fianna Fáil! Well done lads!

............meanwhile back in the real world

Dole numbers rise to record 450,000

link

Paddy Samurai · 30-06-2010 01:57PM

Fitzcaraldo wrote: »

Hooooooooray - hey OP, any chance I could borrow a tenner?

Only a tenner?.......Np.........Its in the post.

You gotta think BIG fitz,if you want the boom times to roll.

owenc · 30-06-2010 02:09PM

Biggins wrote: »

Not according to the New York Times yesterday: http://www.nytimes.com/2010/06/29/business/global/29austerity.html?hp

Neither agreeing or disagreeing with their assessment. Just posting their article.

LOl if thats true they need to hurry up we've been out of recession for months.