The Boom 2.0 ?

jiltloop · 19-02-2019 5:29pm

Yurt! wrote: »

If there was a Brexit or Chinese economy induced recession soon, I'd really worry for the social stability of Ireland going forward. Two deep recessions a decade apart would really put our country under the kosh.

We missed a huge opportunity to change the way we do things with the last recession. Business as usual and a lot of very good Troika advice was roundly ignored because it didn't suit the usual lads with their hands on the levers of power and our venerable captains of industry.

What was the very good Troika advice out of interest?

Genuine question by the way, no hidden barbs!

Ipso · 19-02-2019 5:31pm

Ush1 wrote: »

Can you throw in a patio heater? Maybe a nice chimnea?

Is that for the wet room?

Grayson · 19-02-2019 5:39pm

Boom_Bap wrote: »

Leave my region out of this

Specifically your nether region.

Grayson · 19-02-2019 5:40pm

Ush1 wrote: »

Can you throw in a patio heater? Maybe a nice chimnea?

I had to google that.

mfceiling · 19-02-2019 5:42pm

Is there anything to be said for a soft landing?

Ipso · 19-02-2019 5:44pm

mfceiling wrote: »

Is there anything to be said for a soft landing?

Correction is where its at, stop cribbing on the side lines

beejee · 19-02-2019 5:46pm

Yurt! wrote: »

If there was a Brexit or Chinese economy induced recession soon, I'd really worry for the social stability of Ireland going forward. Two deep recessions a decade apart would really put our country under the kosh.

We missed a huge opportunity to change the way we do things with the last recession. Business as usual and a lot of very good Troika advice was roundly ignored because it didn't suit the usual lads with their hands on the levers of power and our venerable captains of industry.

After losing the clothes off our back first time around, we have essentially doubled-down on the bet of globalisation.

We'll be skinned this time.

pxdf9i5cmoavkz · 19-02-2019 5:47pm

jon1981 wrote: »

So are we now boomier than the last boom? What will we call this one?

Well, one offer was for €25k a year. I'm hoping the next offer is for €30k a year. That right there is a 20% increase.

The boom is back baby!

Jimbob1977 · 19-02-2019 5:56pm

Sonic Boom

Boom Boom Boom Boom - I want you in my (rented) room

Gwynplaine · 19-02-2019 6:29pm

I see lads spending nearly 50 notes a week on fancy coffees. What a waste.

Yurt2 · 19-02-2019 6:30pm

jiltloop wrote: »

What was the very good Troika advice out of interest?

Genuine question by the way, no hidden barbs!

The major ones to my mind were pushed by the IMF (turned out to be the good guys in the Troika, despite their rapacious reputation), reform of the legal system, which they viewed as expensive to access and generally uncompetitive. The legislation that was eventually passed was desperately watered down.

They also advocated (and continue to advocate) for land taxes to free up development land from land hoarders and speculators. No way would FG touch this.

The IMF was generally critical of the ECB and EU role in the post-bailout years - Ajai Chopra accused them of "punishing Ireland."

topper75 · 19-02-2019 6:37pm

The boom isn't cranes.

The boom is a price-wages upwards spiral.

We have a small price creep by my perception, whatever stats say.

Wages haven't moved in a long time but that may change if the nurses kick something off (and Brexit goes like Y2K or smoking ban, much pre-squawking and post-shoulder shrugging).

When a general creep in wages happens in 2020, however small, then the boom is back.

topper75 · 19-02-2019 6:39pm

Yurt! wrote: »

The major ones to my mind were pushed by the IMF (turned out to be the good guys in the Troika, despite their rapacious reputation), reform of the legal system, which they viewed as expensive to access and generally uncompetitive. The legislation that was eventually passed was desperately watered down.

They also advocated (and continue to advocate) for land taxes to free up development land from land hoarders and speculators. No way would FG touch this.

The IMF was generally critical of the ECB and EU role in the post-bailout years - Ajai Chopra accused them of "punishing Ireland."

I look back at that seminal moment of Irish economic history as a glorious chance missed. They wasted a damn good crisis.

BattleCorp · 20-02-2019 10:31am

Yurt! wrote: »

The major ones to my mind were pushed by the IMF (turned out to be the good guys in the Troika, despite their rapacious reputation), reform of the legal system, which they viewed as expensive to access and generally uncompetitive. The legislation that was eventually passed was desperately watered down.

They also advocated (and continue to advocate) for land taxes to free up development land from land hoarders and speculators. No way would FG touch this.

I'm not standing up for the legal system here but I'm curious as to why the IMF would recommend changing the rules surrounding it here? I thought they were interested in the economy and our ability to pay our bills rather than the regulation of service providers in the country.

The legal system here in Ireland didn't cause the recession, didn't contribute to it and it has feck all effect on the economy in real terms. What percentage of the money spent in the country is on the legal system? I'd imagine, while it's expensive for those paying it, it's not much in the scale of things (all money spent here in Ireland).

Sorting out the waste in the Civil and Public service would be a far more effective thing to tackle.

Col Jack ONeill · 20-02-2019 10:35am

Samuel T. Cogley wrote: »

No. We can call this one fùcked by the Brits.

Oh the Irony

Yurt2 · 20-02-2019 12:31pm

BattleCorp wrote: »

I'm not standing up for the legal system here but I'm curious as to why the IMF would recommend changing the rules surrounding it here? I thought they were interested in the economy and our ability to pay our bills rather than the regulation of service providers in the country.

The legal system here in Ireland didn't cause the recession, didn't contribute to it and it has feck all effect on the economy in real terms. What percentage of the money spent in the country is on the legal system? I'd imagine, while it's expensive for those paying it, it's not much in the scale of things (all money spent here in Ireland).

Sorting out the waste in the Civil and Public service would be a far more effective thing to tackle.

Good question. Well, the World Bank has us as the 6th most expensive country in the world to enforce a contract (bad for everyone unless you've got the firepower) - with the dice being loaded towards the wealthy and large institutions.

https://www.google.com/amp/s/amp.independent.ie/irish-news/caveat-emptor-the-soaring-cost-of-legal-services-36222383.html

If you want to have a bit of craic, ask a barrister what after he/she had a few pints what they thought of Shatter's (watered down) legislation. You'd swear he was trying to undercut he foundations of Western civilization. Members of the Law Library behave like the Stonecutters at times, and thet DO NOT welcome observations about how they go about their business.

Agricola · 20-02-2019 12:56pm

Boom boom boom now let me hear you say wayoh...

I say boom boom boom mutha****a say wayoh...

Ishmael · 20-02-2019 1:09pm

Boom 2: The German Guns

https://www.youtube.com/watch?v=yTmimW2Iw20

pleas advice · 20-02-2019 11:48pm

Agricola wrote: »

Boom boom boom now let me hear you say wayoh...

I say boom boom boom mutha****a say wayoh...

boom boom boom boom, I want you in my room

realitykeeper · 04-03-2019 5:50am

jon1981 wrote: »

So are we now boomier than the last boom? What will we call this one?

Ireland has stored up more trouble for itself than we faced in 2008 because of the bailouts and failure to do a hatchet job on government spending. There is an example from history on how to end a depression quickly without increasing debt. Most people have never heard of the depression of 1920 and how it was dealth with. This short video tells the story.

https://www.youtube.com/watch?v=zHXkFKyBU7M

So you see, Enda Kenny was dead wrong to bailout the banks and borrow to fund state spending. FF made the mess, FG added to it, we just haven`t realized the consequences of this sad state of affairs yet.

ChikiChiki · 04-03-2019 5:57am

Yurt! wrote: »

If there was a Brexit or Chinese economy induced recession soon, I'd really worry for the social stability of Ireland going forward. Two deep recessions a decade apart would really put our country under the kosh.

We missed a huge opportunity to change the way we do things with the last recession. Business as usual and a lot of very good Troika advice was roundly ignored because it didn't suit the usual lads with their hands on the levers of power and our venerable captains of industry.

And don't forget our own involvement. The Irish population feed this behaviour by doing **** all about it other than moaning down the local.

When they double the USC sham stealth tax will be see people on the streets? I doubt it.

Sajid Javid · 04-03-2019 6:52am

More red dots to be expected.
https://www.irishtimes.com/news/environment/boom-era-apartment-owners-left-with-large-bills-to-fix-defects-1.3812772

mariaalice · 04-03-2019 8:48am

Sajid Javid wrote: »

More red dots to be expected.
https://www.irishtimes.com/news/environment/boom-era-apartment-owners-left-with-large-bills-to-fix-defects-1.3812772

I don't know there were thousands of developments from the mid 90 on it would be more pertinent to ask how come the vast majority do not have any issues is there any commonality amount the developments that have an issue.

professore · 04-03-2019 8:51am

BattleCorp wrote: »

I'm not standing up for the legal system here but I'm curious as to why the IMF would recommend changing the rules surrounding it here? I thought they were interested in the economy and our ability to pay our bills rather than the regulation of service providers in the country.

The legal system here in Ireland didn't cause the recession, didn't contribute to it and it has feck all effect on the economy in real terms. What percentage of the money spent in the country is on the legal system? I'd imagine, while it's expensive for those paying it, it's not much in the scale of things (all money spent here in Ireland).

Sorting out the waste in the Civil and Public service would be a far more effective thing to tackle.

The runaway compo culture for a start is a MASSIVE driver of costs for business.

Ferajacka · 04-03-2019 9:14am

The German Guns
https://youtu.be/yTmimW2Iw20

thunderdog · 04-03-2019 9:28am

Boomerang. Like the indigenous Australian tool, a boom(erang) will quickly spin on its axis and sharply return back to its point of origin.

BattleCorp · 04-03-2019 1:27pm

Sajid Javid wrote: »

More red dots to be expected.
https://www.irishtimes.com/news/environment/boom-era-apartment-owners-left-with-large-bills-to-fix-defects-1.3812772

When anybody says to me that we need to stop building housing estates and that we need to build upwards and pack as many apartments into cities as possible, I'll be pointing them to articles like this one.

I'd say we don't know half the problems that are present in apartments built in the last 20 years.

mad muffin · 04-03-2019 1:40pm

It’s all a conspiracy to keep us poor and the rich richer. It’s no coincidence that after every bust the rich get richer and we are given just enough to keep our heads above water.

How do we live in a world where 10 men have more more than a billion others living in squalor?

BattleCorp · 04-03-2019 2:02pm

mad muffin wrote: »

It’s all a conspiracy to keeps us poor and the rich richer. It’s no coincidence that after every busy the rich get richer and we are given just enough to keep our heads above water.

How do we live in a world where 10 men have more more than a billion others living in squalor?

There are loads and loads of reasons why 10 men have more than a billion others living in squalor.

I'd guess the main reason is that they have very good business acumen. While enjoying advantages such as a good education etc. Bill Gates and Mark Zuckerberg weren't born billionaires. They were in the right place, at the right time, with the right product. Jeff Bezos was from a wealthy family but he has added to his wealth at an unbelievable rate.

Bezos is self-made.
Gates is self-made.
Buffet is self-made.
Arnault is from a rich family but he didn't go into the family business so he is self-made.
Zuckerberg is self-made.
Ortega is self-made.

I'm too lazy to research any more of the top 10.

Only a few of the top 10 have inherited their money and of those who did, they have added to it significantly.

Most of us will never have the opportunities of making that kind of money and very very few of the poorest billion people on the planet will have those opportunities due to lack of education, lack of seed capital etc.

I'm curious about your thinking. Are you blaming the top 10 wealthy people for the squalor that the poorest billion people live in?

Hobosan · 04-03-2019 3:09pm

BattleCorp wrote: »

There are loads and loads of reasons why 10 men have more than a billion others living in squalor.

I'd guess the main reason is that they have very good business acumen. While enjoying advantages such as a good education etc. Bill Gates and Mark Zuckerberg weren't born billionaires. They were in the right place, at the right time, with the right product. Jeff Bezos was from a wealthy family but he has added to his wealth at an unbelievable rate.

Bezos is self-made.
Gates is self-made.
Buffet is self-made.
Arnault is from a rich family but he didn't go into the family business so he is self-made.
Zuckerberg is self-made.
Ortega is self-made.

I'm too lazy to research any more of the top 10.

Only a few of the top 10 have inherited their money and of those who did, they have added to it significantly.

Most of us will never have the opportunities of making that kind of money and very very few of the poorest billion people on the planet will have those opportunities due to lack of education, lack of seed capital etc.

I'm curious about your thinking. Are you blaming the top 10 wealthy people for the squalor that the poorest billion people live in?

To add to this, Bezos/Gates wealth is mostly tied up in investments. If those investments fail, their wealth will collapse. It's not like they have 100 billion in cash at hand. If they suddenly tried to cash in on all of their investments, their investments would become worthless, as selling off all of your investments naturally causes people to question their value particularly if they are stocks in your own bloody companies.

Their wealth is being put to work, along with most of the other top earners. It's so easy to repeat soundbites that imply one cares about the impoverished by virtue of one denouncing the wealthy.

The worst white-collar corruption is there for all to see, yet most choose to rail against the fact our clothes are not flame retardant while lunatics with flamethrowers openly roam around burning people to death... so to speak!

The Boom 2.0 ?

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