Irish Economy - Do we understand how bad the situation is?

10-11-2010 04:56PM

Sungodbr wrote: »

I predict a riot!

So do I. In about two and a half, to three hours at the Dept. of Finance.

ejmaztec · 10-11-2010 04:57PM

the keen edge wrote: »

I don't get how people, in general, are so unaware or just dont seem to care, of how much of a financial **** hole Ireland is in.

The time pasted years, not months, ago when people should of being taking notice of what our governmental leader's were ridiculously calling scaremongering!

The tide has gone out now, and we are clearly standing there without any trousers on.

Since when do people wear trousers when they're swimming?

mikemac · 10-11-2010 04:58PM

the keen edge wrote: »

Honestly, do you think it could possibly get to that stage, as in food shortages?

If Dock workers staged an all out strike for several weeks you'd see shortages.

Though there is more then enough food produced in Ireland

partyatmygaff · 10-11-2010 04:59PM

jodaw wrote: »

The way things are going your LC will be the least of your worries. Still, in reality it is not you that created this crap. If i were you i would be seriously pissed off about this country and what the greed of the older generations achieved

Meh... We'll all survive no matter how bad the economy becomes. Life goes on, money means nothing.

Glenster · 10-11-2010 05:00PM

Oh no! It's gone up to theoretically 8.6%! What if it goes theoretically up to 8.7%?!? Then we'll be theoretically poor. We aren't on the bond market!!!!!!!!!!!!!!!!!!

This is the stupidest conversation I've ever heard.... actually no it ties with the "my house is theorectically worth a million euros, therefore i'm a theoretically a millionaire" blather that we had five years ago.

People never learn.

scientific1982 · 10-11-2010 05:01PM

Watch from 13:10 onwards. Why is our government doing this to the people.

https://www.youtube.com/watch?v=J0nyR8pZaEg

questionmark? · 10-11-2010 05:01PM

Duggy747 wrote: »

Can't we talk about puppies for a change?

We could but Biffo is having them made into a coat for himself and seanie

:eek:

/yes its a big coat

jodaw · 10-11-2010 05:02PM

the keen edge wrote: »

Honestly, do you think it could possibly get to that stage, as in food shortages?

I remember gathering information somewhere about our food supply chain. Because of the complexity of delivering food to our plates, it was maybe 1/2 days for empty shelves in the supply chain breaks down...

Always plan for the worst and hope for the best

df1985 · 10-11-2010 05:02PM

ahhhh sure twill be grand.

In reality though, I think a lot of people are sick and tired of hearing these things, and wont care until they get hit in the pocket. Ignorance is bliss and all that.

DonJose · 10-11-2010 05:02PM

the keen edge wrote: »

Honestly, do you think it could possibly get to that stage, as in food shortages?

It couldn't, could it?

Analysts are saying Ireland has enough money to last just 60 days. The government is saying we have enough money to last 7 months. So far the government have gotten everything wrong. We can't afford to borrow at the current 8.5%, where will we find the money to run the country, to pay civil service, to pay social welfare. Scary days ahead.

Glenster · 10-11-2010 05:02PM

the keen edge wrote: »

Honestly, do you think it could possibly get to that stage, as in food shortages?

It couldn't, could it?

Jesus wept................

thebigbiffo · 10-11-2010 05:06PM

blather blather blather blather...

we're not borrowing until the new year. lets have a thread on bond market interest rates then please. after the entire world sees the population get raped on Dec 7th - the bond markets will give us a better shot.

either that of the IMF give us the money - which at this stage i'm not quite sure is such a bad thing.

thebigbiffo · 10-11-2010 05:09PM

DonJose wrote: »

Analysts are saying Ireland has enough money to last just 60 days. The government is saying we have enough money to last 7 months. So far the government have gotten everything wrong. We can't afford to borrow at the current 8.5%, where will we find the money to run the country, to pay civil service, to pay social welfare. Scary days ahead.

we'll borrow the money at better interest rates from the IMF/ECB and let them come in and cut the (huge amounts) of waste concerned in running the country, the civil service, the social welfare....that's not scary - it should be a f'uckin priority

R P McMurphy · 10-11-2010 05:10PM

Will there be a reduction in sky for Irish subscribers or will things never get that bad?

jodaw · 10-11-2010 05:10PM

partyatmygaff wrote: »

Meh... We'll all survive no matter how bad the economy becomes. Life goes on, money means nothing.

Correct in that.

I visit Colombia on a regular basis. When i return i ask myself the question. WTF are people this country moaning about? No such thing as social welfare or "entitlements" over there.

But life goes on regardless. Let the banks collapse and life will still go on. The sun will still rise and set. The banks have the power and people are made to feel there is no alternative but to enslave ourselves for them. Not true ...

Always there is an alternative ...

On the stockpiling the food thing. If some of the most wealthy people in the world think that storing the seeds of all food plants deep in a mountain in Norway is a good idea, Maybe it is not such a bad idea to have a few to one side.

JONJO THE MISER · 10-11-2010 05:13PM

Its going to get very very messy, we wont be able to borrow money and will get a bailout with massive massive cuts and 30-40% of public servants laid off, massive riots and strikes and a massive increase in crime.
Im sorry to say but things look very very bleak, im leaving most of my money on online wallets at the moment to be honest, just to be on the safe side.

JONJO THE MISER · 10-11-2010 05:15PM

R P McMurphy wrote: »

Will there be a reduction in sky for Irish subscribers or will things never get that bad?

thebigbiffo · 10-11-2010 05:15PM

jodaw wrote: »

I visit Colombia on a regular basis.

bet you travel by boat?

Rabble Rabble · 10-11-2010 05:16PM

Ali Babba wrote: »

Most people on here are in denial for some time now and probably will be forever, all you have to do is look and see the amount of people who do and will support Fianna Fail. It's the likes of them should also be held responsible for this mess to a certain extent too.

Lol.

Diapason · 10-11-2010 05:17PM

Still, at least if we're plunged back into poverty we can form a soul band and narrowly miss jamming with Wilson Pickett.

jodaw · 10-11-2010 05:18PM

thebigbiffo wrote: »

we'll borrow the money at better interest rates from the IMF/ECB and let them come in and cut the (huge amounts) of waste concerned in running the country, the civil service, the social welfare....that's not scary - it should be a f'uckin priority

Lol and lol

The IMF has been a disaster and made things worse pretty much everywhere it has went. Let us see if you are still of the same opinion after 5 years of IMF terms and conditions. You will be owned !!!

I agree that the waste needs to be cut but have a shower of incompetent clowns at the helms that only have their own self interest at heart

jodaw · 10-11-2010 05:19PM

thebigbiffo wrote: »

bet you travel by boat?

Yes but it would be of the banana kind:D

Rabble Rabble · 10-11-2010 05:19PM

The real problem was the guarantee, and the subsequent moving of that debt into ECB bonds which happened in September. That means Ireland is guaranteeing bad loans by German and other banks. Arent we great?

Hope that the ECB give us really low interest rates, considering.

Look at this article: Read the comments. Unlike the self-flaggelating nonsense on these boards most people are sympathetic.

There is no need for austerity. The Irish need to put their banks into bankruptcy. Creditors lent the Irish banks money with no promises of bailouts; if the creditors were stupid, that is their problem, not the Irish taxpayers' problem.

quite. Irish people, with the exception of the developers, did not even really over-borrow. There were no - American style - suborime loans.

jodaw · 10-11-2010 05:22PM

Diapason wrote: »

Still, at least if we're plunged back into poverty we can form a soul band and narrowly miss jamming with Wilson Pickett.

At least it would be welcome relief from all this xfactor hysteria that seems to be more important than the fact that our country is the island version of the titanic

thebigbiffo · 10-11-2010 05:30PM

jodaw wrote: »

Lol and lol

The IMF has been a disaster and made things worse pretty much everywhere it has went. Let us see if you are still of the same opinion after 5 years of IMF terms and conditions. You will be owned !!!

I agree that the waste needs to be cut but have a shower of incompetent clowns at the helms that only have their own self interest at heart

well yes in fairness you're right - nobody really really wants the IMF (even still though, the fact that we're in the euro protects us somewhat compared to the messes they've made elsewhere)...but the underlying issue is that they are probably the only ones with the will or clout to get rid of the wastage in the system.

jodaw · 10-11-2010 05:33PM

Rabble Rabble wrote: »

quite. Irish people, with the exception of the developers, did not even really over-borrow. There were no - American style - suborime loans.

Not true ...

Towards the end everyone over borrowed. People took what the banks would give. The banks needed to continuously give more to keep the whole thing rolling. People boasted at paying more for a house than the next person. They boasted about how much they paid for a house ...

The exceptions was the person that stood back and said how much are these bricks and mortar worth? What is the quality of workmanship? Is this my house for life?

Mortgages of X10 the average salary for an average house IS over-borrowing.

We have been grossly over-borrowing since any real growth ended circa 2000. Added to this the fact equity release schemes for new cars began to take hold towards the end. We have been over-borrowing for a long time.

Now its time to pay the piper!!! or the Viper

Rabble Rabble · 10-11-2010 05:39PM

jodaw wrote: »

Not true ...

Towards the end everyone over borrowed. People took what the banks would give. The banks needed to continuously give more to keep the whole thing rolling. People boasted at paying more for a house than the next person. They boasted about how much they paid for a house ...

Not one Irish bank would be in difficulty were it just loans to consumers. Most of those loans are performing.

Lord Trollington · 10-11-2010 05:39PM

What the f*ck is the Bond Market?

Misanthrope · 10-11-2010 05:41PM

The Irish must be of Trojan origin.We can't resist those big Trojan horsies.We're suckers for the nags.

Rabble Rabble · 10-11-2010 05:42PM

whycliff wrote: »

What the f*ck is the Bond Market?

ssh, now. dont you worry. Here's picture of a toy puppy.

Irish Economy - Do we understand how bad the situation is?

Comments