Ireland booming again - do you see it?

30-07-2015 04:48PM

Kermit.de.frog wrote: »

Do you see any signs of recovery in your area?

My rent just went up by €100... so at least my landlord's economy is recovering

The Ayatolla · 30-07-2015 04:49PM

It's all thanks to Conor McGregor.

Dozen Wicked Words · 30-07-2015 04:49PM

HSE hospitals still have patients sleeping on corridors of wards, waiting lists for operations or appointments are still growing. Maybe if there is an upturn they could stop reducing hospital budgets year on year as they have been doing, instead of tax cuts.

Chips Lovell · 30-07-2015 04:50PM

F**k the hospitals. Where's my tax cut?

Saipanne · 30-07-2015 04:51PM

KungPao wrote: »

Any current data on breakfast roll sales?

The average length of morning queues in Centra with hungover, poorly educated, Sun reading, high viz clad individuals is on the rise.

BoJack Horseman · 30-07-2015 04:51PM

Saipanne wrote: »

Not that bad, considering the unpopular decisions they had to take.

Its not enough though.

There are 2 governments to chose from next year.

the current coalition, or a FF/SF coalition.

As things stand we will have a new government next year, one that spent the last 4 year opposing the budget consolidation & economic recovery.

SEPT 23 1989 · 30-07-2015 04:51PM

Jep Gambardella wrote: »

F**k the hospitals. Where's my tax cut cocaine?

.

Buona Fortuna · 30-07-2015 04:53PM

JustTheOne wrote: »

Well surely people can't make the mistake many made during the Celtic tiger.

If they do they deserve whatever comes their way during the next recession.

Probably skip the decking and patio heater this time round.

JustTheOne · 30-07-2015 04:54PM

History will be kind to this government.

The unwashed of the country have us believing doom and gloom everyday and the country is on its knees.

Little do they know how good a country Ireland is whether you're employed or unemployed.

seamus · 30-07-2015 04:55PM

jaymcg91 wrote: »

A global recession is due to begin in the next 18-24 months (if you look over historical patterns). Thankfully Ireland has sorted out a lot of the mess that landed it into the last one. Hopefully people aren't going to start going crazy with their money then blame everybody else when it falls apart again .

I've already started to save.

As they say, economists have successfully predicted ten of the last three recessions.

eviltimeban · 30-07-2015 04:55PM

Who's de boom king?

I'm da boom king!

ZeroThreat · 30-07-2015 04:55PM

Saipanne wrote: »

The average length of morning queues in Centra with hungover, poorly educated, Sun reading, high viz clad individuals is on the rise.

I guess the long mile road is about to become a big carpark every morning again then.

RomanKnows · 30-07-2015 04:57PM

Yes. The company I work for is taking on hundreds of new staff over the next 5 years. It's involved in a vital part of State infrastructure, and the hiring policy is based on increased demand for our services. These are good jobs in areas like engineering, IT and law.

mahoganygas · 30-07-2015 04:57PM

Thankfully I was never made unemployed during the recession, and for that I am grateful. But I found an old pay slip from years ago an nearly cried.

After working mental hours and focusing on my career I was lucky to get a few pay rises and promotions. BUT I'm coming home with less pay today thanks to the current tax system.

It really makes me feel like the last few years were such a waste. I should have been out enjoying life instead of sitting in an office till midnight. I no longer want to work hard at my job, because why would I?

I know there are people out there who lost their jobs and would kill to have the opportunity to work hard in my job. But i'm just so demoralized. There's no longer an incentive to work hard and make a better living. If the boom comes again, I doubt i'll try to better my career again.

Cee-Jay-Cee · 30-07-2015 05:00PM

I see nothing in my wage, I still have fcuk all money each week, prices are increasing, I actually got a pay increment after 7 years on the same pay grade (and with huge cuts from
2008 to 2012) My increment was €37 gross week, after tax prsi USC pension levy and whatever other ****e the government are fleecing us for, I take home €14 extra out of my €37 increase. What a fcuking joke!

jaymcg91 · 30-07-2015 05:02PM

seamus wrote: »

As they say, economists have successfully predicted ten of the last three recessions.

A few of the issues that economists argue will weigh heavy on the global economy:

Greece still hasn't been fully resolved

Ultimately unpayable debts and obligations held by France, Italy, Portugal and Spain

The economic slowdown in China

Canada and Australia will both enter recession this year because of the drop in price in oil / minerals

A (overly) strong dollar will force some Latin American countries into recession

Lack of living wage for many people across the developed nations - unemployment figures are down but discretionary spending isn't increasing as much as needed - because people are only being paid enough to exist.

They are a few that I can think of right now. Fun times ahead :P.

Kermit.de.frog · 30-07-2015 05:02PM

mahoganygas wrote: »

Thankfully I was never made unemployed during the recession, and for that I am grateful. But I found an old pay slip from years ago an nearly cried.

After working mental hours and focusing on my career I was lucky to get a few pay rises and promotions. BUT I'm coming home with less pay today thanks to the current tax system.

It really makes me feel like the last few years were such a waste. I should have been out enjoying life instead of sitting in an office till midnight. I no longer want to work hard at my job, because why would I?

I know there are people out there who lost their jobs and would kill to have the opportunity to work hard in my job. But i'm just so demoralized. There's no longer an incentive to work hard and make a better living. If the boom comes again, I doubt i'll try to better my career again.

But things like this don't change over night. If the economy is doing better the government might have more room to reduce the tax burden on you in the next budget.

If it was doing worse than they wouldn't.

Steve F · 30-07-2015 05:08PM

jaymcg91 wrote: »

A global recession is due to begin in the next 18-24 months (if you look over historical patterns). Thankfully Ireland has sorted out a lot of the mess that landed it into the last one. Hopefully people aren't going to start going crazy with their money then blame everybody else when it falls apart again .

I've already started to save.

You are joking,right?

Of course people will make the same mistakes it's been happening since time began:rolleyes:

Duiske · 30-07-2015 05:09PM

pcardin wrote: »

I heard on CNN that analysts are predicting a new recession to start by the end of 2016. Better start saving.

Thing were bad enough at the start of the recession, but it was scaremongering like this that made the situation even worse. When people feel confident about the economy they tend to spend more into the economy and save less. It helps keep things ticking over. When harbingers of doom spread baseless ****e give their opinions it can lead to less spending. This is then seen as a contracting economy, people lose confidence and spend even less. A vicious circle.

Areyouwell · 30-07-2015 05:13PM

Kermit.de.frog wrote: »

Ireland growing like China according to latest figures released today.

Is that you Bertie?

30-07-2015 05:14PM

seamus wrote: »

As they say, economists have successfully predicted ten of the last three recessions.

I'm not familiar with that expression, it's very unlikely to have much truth to it.

If anything, economic forecasts tend to have a conservative bias, i.e. they tend to anticipate smaller troughs and smaller peaks. That is because traditional, linear models for forecasting economic growth are unable to cope with multiple equilibria: when the economy hits a bump in the road, the economist expects that the economy will realize it was just a bump. But increasingly, the economy goes apesh1t and blows the whole thing out of proportion (like what's happening in the Eurozone).

Similarly on the upturn, models would have traditionally anticipated that people can spot bubbles and moderate their expectations, but recent history has certainly undermined that notion.

TL;DR: self-fulfilling prophecies mean that economic forecasting rarely overstates changes future economic activity, rather, forecasting is generally too conservative; growth and decline are self-perpetuating phenomena.

mickdw · 30-07-2015 05:24PM

I don't see why people will behave any more conservatively this time round. The Conservative people have got caught for all the debt while the people who owed billions are up and running again.
What have I learned from the last boom and bust?
Take a risk, take bank funding where available and try to build a big business.

andrew · 30-07-2015 05:25PM

jaymcg91 wrote: »

A few of the issues that economists argue will weigh heavy on the global economy:

Greece still hasn't been fully resolved

Ultimately unpayable debts and obligations held by France, Italy, Portugal and Spain

The economic slowdown in China

Canada and Australia will both enter recession this year because of the drop in price in oil / minerals

A (overly) strong dollar will force some Latin American countries into recession

Lack of living wage for many people across the developed nations - unemployment figures are down but discretionary spending isn't increasing as much as needed - because people are only being paid enough to exist.

They are a few that I can think of right now. Fun times ahead :P.

1. Fair

2. Debt sustainability isn't an issue for those countries at the moment.

3. Slowdown for China means growth of 6% to 7%, so in the grand scheme of things not all that slow

4. Neither of those countries are forecast to enter a recession

5. A few are already in recession AFAIK, not that it really matters for us.

jaymcg91 · 30-07-2015 05:33PM

andrew wrote: »

4. Neither of those countries are forecast to enter a recession

Possible Australian Recession

It's clear enough that recession is coming for Australia. The question is whether Australians are ready for it.

http://www.bloombergview.com/articles/2015-06-30/a-first-recession-for-australian-millennials

http://www.theage.com.au/comment/millennials-are-about-to-be-hit-by-their-first-recession-20150702-gi33j9.html

http://www.dailyreckoning.com.au/prepare-for-recession-in-the-australian-economy/2015/05/29/

Possible Canadian Recession

http://business.financialpost.com/news/economy/is-canada-still-flirting-with-recession-fridays-gdp-report-will-reveal-more

http://www.thestar.com/opinion/letters_to_the_editors/2015/07/25/is-canada-heading-into-recession.html

So not sure what the confused face was for :rolleyes:

:).

valoren · 30-07-2015 05:36PM

I believe the economic term is called a Basil Brush recovery.

"Boom! Boom!"

MuchoLoco · 30-07-2015 05:44PM

Most of late teens early 20's were taken from me due to the greed
in this country. The recession will be a distant memory for most
on our isle in a couple of years while the rich get Richer!

Kermit.de.frog · 30-07-2015 05:46PM

Why don't you just get rich yourself?

Amirani · 30-07-2015 05:54PM

jaymcg91 wrote: »

Possible Australian Recession

http://www.theage.com.au/comment/millennials-are-about-to-be-hit-by-their-first-recession-20150702-gi33j9.html

http://www.dailyreckoning.com.au/prepare-for-recession-in-the-australian-economy/2015/05/29/

Possible Canadian Recession

http://business.financialpost.com/news/economy/is-canada-still-flirting-with-recession-fridays-gdp-report-will-reveal-more

http://www.thestar.com/opinion/letters_to_the_editors/2015/07/25/is-canada-heading-into-recession.html

So not sure what the confused face was for :rolleyes::).

Still a lot of ifs there, for Canada in particular.

Regardless, Canada and Australia are small enough to be almost inconsequential to the global economy. A minor recession driven by falling commodity prices in those countries will be unnoticed in Europe.

padd b1975 · 30-07-2015 05:59PM

Haulage industry is booming.

We have trucks parked up gathering dust for the want of drivers with international experience.

It would appear a nett wage packet of close to €900 per week if you stay out for a few weeks is not appealing to some.....hard to believe that.

namloc1980 · 30-07-2015 06:00PM

More activity around for sure but alot of this growth is exports and the IT sector. I'm not seeing it in my wage. In fact things have got worse with property taxes, water charges, reduced tax credits etc mean less take home now than at the height of the recession.

Ireland booming again - do you see it?

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