Good economic news thread

BoJack Horseman · 04-01-2015 03:16PM

Saipanne wrote: »

How's the economy doing lads

As you know, not bad.

Dastardly EU wrote:

THE EU SAYS that Ireland’s growth for this year will be the largest in the Eurozone both this year and next year.
Real GDP growth is expected to reach 1.3% in the EU and 0.8% in the euro area for 2014 as a whole.

However, that figure is predicted to be around 4.6% in Ireland this year and 3.6% next year and 3.7% in 2016.

Inflation will hit 0.4% this year, 0.9% in 2015 and 0.9% in 2016. Unemployment is predicted to drop to 9.6% next year and 8.5% in 2016.

And:

ESRI wrote:

In our view, GNP continues to provide the best measure of the standard of living (and output) of Irish residents. We are expecting growth in GNP in 2014 of 4.9 per cent and that this pattern will continue into 2015, resulting in growth in GNP next year of 5.2 per cent.

A consequence of this significant growth in output and employment will be a further fall in unemployment. The unemployment rate should be down to under 10 per cent of the labour force in 2015.

Saipanne · 04-01-2015 03:17PM

Poor whinging lefties. :-(

skafish · 04-01-2015 03:20PM

AlekSmart wrote: »

It is a very odd manifestation of our culture indeed...

It will be interesting to see what will become of the Paul Murphy's,Mick Wallace's,Ming Flanagan's and the rest over the next 5 years....perhaps it'll be case of "Where are they now"....?

Hopefully.
Ming has already done us the favor of disappearing off to Europe (albeit with his TD pension).
Maybe Mick Wallace past misdeeds will catch up with him shortly, and he will fade away too.

BoJack Horseman · 04-01-2015 03:28PM

skafish wrote: »

Hopefully.
Ming has already done us the favor of disappearing off to Europe (albeit with his TD pension).
Maybe Mick Wallace past misdeeds will catch up with him shortly, and he will fade away too.

Just a point of order.
Ming, with just 3 years in the Dáil isn't eligible for a TD pension.

However the money sitting in the ignored communist block of the EU parliament is far higher, so that will make up for it.

skafish · 04-01-2015 03:43PM

Dannyboy83 wrote: »

We already have this in spite of the lack of planning and lack of infrastructural development:

I bought a house in Cork last year and I knew when I was buying here, we weren't going to get the infrastructure you might see in Dublin such as Orbital Roads and so on.

Welcome to the republic, boy:D

Rightwing · 04-01-2015 03:45PM

Saipanne wrote: »

How's the economy doing lads

Not doing too badly at all, but things can change fairly quickly.

Greek crisis is about to erupt. Will make for a few interesting weeks.

skafish · 04-01-2015 03:52PM

BoJack Horseman wrote: »

Just a point of order.
Ming, with just 3 years in the Dáil isn't eligible for a TD pension.

However the money sitting in the ignored communist block of the EU parliament is far higher, so that will make up for it.

Actually, he is entitled to a TDs pension having served 2 years. However, you are right in that he cant collect it yet. New rules mean that anybody electd after 2004 cannot colect their pension before the age of 65.
Unlike poor, "bankrupt" Ivan Yeats:
http://www.independent.ie/irish-news/yates-earns-49000-in-td-and-ministerial-pensions-26611177.html

BoJack Horseman · 04-01-2015 04:05PM

skafish wrote: »

Actually, he is entitled to a TDs pension having served 2 years. However, you are right in that he cant collect it yet. New rules mean that anybody electd after

I thought it required 10 years served?
(2 years is for ministers)

Godge · 05-01-2015 04:53PM

The good news continues

http://www.rte.ie/news/2015/0105/670483-exchequer-returns/

"Exchequer returns for the 12 months to the end of December show tax revenue was just over 3% higher than expected at the start of the year."

All of that extra revenue appears to be coming from having more people in employment, great news for the economy.

the groutch · 05-01-2015 04:54PM

huge news today, especially as it's only Ireland, and not the whole EU

http://www.ft.com/cms/s/0/07114e00-94ec-11e4-8341-00144feabdc0.html#axzz3Nxz2uLvf

Saipanne · 05-01-2015 04:57PM

the groutch wrote: »

huge news today, especially as it's only Ireland, and not the whole EU

http://www.ft.com/cms/s/0/07114e00-94ec-11e4-8341-00144feabdc0.html#axzz3Nxz2uLvf

I can't open it.

Godge · 05-01-2015 04:58PM

the groutch wrote: »

huge news today, especially as it's only Ireland, and not the whole EU

http://www.ft.com/cms/s/0/07114e00-94ec-11e4-8341-00144feabdc0.html#axzz3Nxz2uLvf

Saipanne wrote: »

I can't open it.

http://www.rte.ie/news/2015/0105/670349-ireland-beef-us/

Here is the RTE version.

"Ireland is to be the first European country to be granted full access for its beef in the US market after the US lifted a ban on European beef imports.

The ban had been in place for almost 16 years, since the BSE crisis in the 1990s.

The announcement represents a multi-million euro boost for the Irish beef industry"

Saipanne · 05-01-2015 05:01PM

Wow, amazing news!

Sand · 05-01-2015 05:05PM

BoJack Horseman wrote: »

As you know, not bad.

In our [ESRI] view, GNP continues to provide the best measure of the standard of living (and output) of Irish residents. We are expecting growth in GNP in 2014 of 4.9 per cent and that this pattern will continue into 2015, resulting in growth in GNP next year of 5.2 per cent.

I'd agree with that - when are we going to switch to expressing our debt to GNP?

nice_guy80 · 05-01-2015 06:04PM

Guaranteed there will be too many restrictions on what beef is eligible, making it uneconomical for most farmers, but not for the processing industry.

Saipanne · 05-01-2015 06:31PM

nice_guy80 wrote: »

Guaranteed there will be too many restrictions on what beef is eligible, making it uneconomical for most farmers, but not for the processing industry.

Read the thread title. Jeez...

Saipanne · 05-01-2015 06:32PM

Sand wrote: »

I'd agree with that - when are we going to switch to expressing our debt to GNP?

When it is requested of us.

Or wait, is it still a big retarded conspiracy?

Godge · 07-01-2015 12:34PM

http://www.rte.ie/news/business/2015/0107/670900-live-register/

"The CSO said that the standardised unemployment rate eased to 10.6% in December from 10.7% in November.

The unemployment rate for the whole of 2014 was 11.3%, down from 13.1% in 2013, the CSO added. "

"The total number of people on the Live Register fell by 9.9% over the course of 2014 and is now 18.9% below the August 2011 peak of 448,800."

The big issue is the 160,000 long-term unemployed on the register. Getting this cohort of people back into the workforce must be the priority.

K-9 · 07-01-2015 01:01PM

Saipanne wrote: »

Read the thread title. Jeez...

Mod: Leave the modding to us thank you, you can report any posts you find objectionable. People are free to comment on the actual news posted here.

Saipanne wrote: »

When it is requested of us.

Or wait, is it still a big retarded conspiracy?

Could you calm down please? There's no need for that.

Godge · 07-01-2015 04:33PM

http://www.rte.ie/news/business/2015/0107/670921-7-year-bond-sale/

The seven year bond raised €4 billion at a yield of 0.867%, according to market sources.

That is incredibly low!

AlmightyCushion · 07-01-2015 07:24PM

Godge wrote: »

http://www.rte.ie/news/business/2015/0107/670921-7-year-bond-sale/

The seven year bond raised €4 billion at a yield of 0.867%, according to market sources.

That is incredibly low!

Hopefully this is a long term trend and we see our rates start at levels like this for a long time. It'll really help reduce the national debt.

Sheldons Brain · 07-01-2015 07:52PM

AlmightyCushion wrote: »

Hopefully this is a long term trend and we see our rates start at levels like this for a long time. It'll really help reduce the national debt.

It will help reduce the interest payments on the national debt. It also ensures that interest rates are feck all, banjaxing people's savings and pensions.

Godge · 07-01-2015 09:42PM

Sheldons Brain wrote: »

It will help reduce the interest payments on the national debt. It also ensures that interest rates are feck all, banjaxing people's savings and pensions.

Debt is a bigger problem than what happens savings.

The economy would be better off if savers invested in the economy rather than hoarding their money.

The lower interest rates will help investment.

Sheldons Brain · 07-01-2015 11:27PM

Godge wrote: »

Debt is a bigger problem than what happens savings.

Only for the spendthrift!

The economy would be better off if savers invested in the economy rather than hoarding their money.

What do you suggest we invest in?

Rightwing · 07-01-2015 11:31PM

Sheldons Brain wrote: »

Only for the spendthrift!

What do you suggest we invest in?

That highlights the folly of their policy.

Buy overpriced stocks, or cheap chinese sh*t you don't need. :rolleyes:

flintash · 07-01-2015 11:33PM

all say new builds in short supply, so i suggest you give your money to builder and he will build the houses.

hfallada · 08-01-2015 01:07AM

Godge wrote: »

http://www.rte.ie/news/business/2015/0107/670921-7-year-bond-sale/

The seven year bond raised €4 billion at a yield of 0.867%, according to market sources.

That is incredibly low!

Its incredible considering the Euro took a hammering with the talk of a Greek exit from the Euro. This low rate shows investors must believe we aren't like Greece and we have a very low risk of defaulting on our debts. Its amazing considering some of our IMF loans are about 5.5%. Hopefully the great people in NTMA refinance all of our high interest rate bonds into lower rate ones ASAP.

jhegarty · 08-01-2015 11:54AM

Sheldons Brain wrote: »

What do you suggest we invest in?

Decking and kitchen islands.

Geuze · 08-01-2015 02:31PM

Godge wrote: »

Debt is a bigger problem than what happens savings.

The economy would be better off if savers invested in the economy rather than hoarding their money.

Savings do not sit idly in banks.

Savings are already spent.

Now, what assets the savings are used to finance, that may need to change.

FreudianSlippers · 08-01-2015 02:37PM

Geuze wrote: »

Savings do not sit idly in banks.

Savings are already spent.

Now, what assets the savings are used to finance, that may need to change.

High levels of savings which the banks use to give mortgages? Been there, done that.

Most economies in the west need economic boots by spending rather than savings.

Good economic news thread

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