whats in store this coming year?

01-12-2020 3:14pm #1

Just as retail has opened up again and people can resume spending as normal, a thought occurred to me yesterday. Should we be planning ahead for 2021, with the impending double barreled Covid / Brexit recession that is being predicted.

What is the economic climate going to be like down the line, mid way through 2021. Would it be a good time to hang on to a few quid in case people need to go abroad for work, rather than take out a car loan for example?

With Dorothy Perkins and Debinhams going under, surely there will be reverberations felt in Ireland, as they probably wont be the only retail giants to go under. I was listening to a David McWilliams podcast and he compared the UK to Argentina, which at one stage was the world's sixth largest economy, and its bordering neighbour Uruguay experienced a boom through beef exports, only to feel the fallout of Argentina's demise. In other words are we in for a rough ride?

Stevieluvsye · 01-12-2020 3:25pm

spook_cook wrote: »

I think 2021 is going to see the start of an economic boom the likes of which we haven't seen in a decade.

The aggressive savings rate all over the western world, the pent up demand for holidays/services/experiences etc, the coming vaccines which will give way for these to happen.

It'll be a very much two sided boom though. We have spiraling debt, a whole wave of businesses gone and more.

I think that is very much a fair assesment of what i think will happen. There will be taxes raised but not dramatically. The day of the high street is over but people will continue to spend online.

I don't see emigration hitting the highs of the last economic crash as the government i hope will continue to borrow at manageable levels to keep the economy moving

SEPT 23 1989 · 01-12-2020 3:26pm

the roaring twenties mk2

Potential-Monke · 01-12-2020 11:51pm

All I know is there is an inevitable argument between me and my employer when they decide to end WFH and want me to come it. I'll argue that I can't come in unless I have a guaranteed table/chair/pc/etc that no one else will use, which they can't because like most businesses they try and squeeze as many people into the 1 building as possible, doubling up on people using everything! So yeah, that's all I'm worried about, but I don't plan very far ahead anyway.

As for recession, I no longer have a mortgage and my credit rating probably can't go any lower so unless businesses suddenly stop needing network support, I should be alright employment wise (we cover large multi-branch and franchise companies, mostly involved in the provision of services and goods that remained open during lockdown).

Ubbquittious · 01-12-2020 11:59pm

COVID-21

Strumms · 02-12-2020 12:09am

Once there is a vaccine approved and there is a confirmed timeline as to its commencement... things will go crazy... I’d say firstly almost every seat on an aircraft into and out of the country will be booked fast... Irish abroad coming home to be with family and friends and those of us desperate to do the same or just a get away holiday and change of scenery....

Be interesting to see what prices the airlines and travel agents are charging.

Harry Palmr · 02-12-2020 12:13am

I see an immense amount of shagging and a spike in both births and abortions (and STD's).

Xtrail14 · 02-12-2020 12:15am

Corona 20-21-22 etc made in chyna

Xtrail14 · 02-12-2020 12:16am

Harry Palmr wrote: »

I see an immense amount of shagging and a spike in both births and abortions (and STD's).

Riding of your first cousins is not allowed regardless of the 5km restrictions.

Wibbs · 02-12-2020 12:22am

jmlad2020 · 02-12-2020 12:27am

CBDC's (Central Bank Digital Currencies) will become more mainstream. China are already trialing a Digital Yuan as are other countries. Money is set to change drastically in this decade including our very own Euro.

Bitcoin and other digital privacy coins will prove ever more popular, likely surging in price.

And personally I'd love to see the Introduction of a 4 day work week this decade.. some companies already are which is promising.

Alf Veedersane · 02-12-2020 12:32am

Dan Bars, hopefully

02-12-2020 11:58am

Strumms wrote: »

Once there is a vaccine approved and there is a confirmed timeline as to its commencement... things will go crazy... I’d say firstly almost every seat on an aircraft into and out of the country will be booked fast... Irish abroad coming home to be with family and friends and those of us desperate to do the same or just a get away holiday and change of scenery....

Be interesting to see what prices the airlines and travel agents are charging.

definitely, the airports will become very busy. I was pricing flights to Spain a few weeks ago out of curiosity, and they weren't that much more expensive than this time last year.

JustAThought · 02-12-2020 1:47pm

Unlike Argentina and Some tragic south american countries I don’t think we’re
going to have the collapse of the euro, world war two levels of hyper-inflation and our entire economic system become worthless with people starving trying to buy loaves of bread with suitcases of worthless money. What IS shocking that there has been so little written or spoken about these South American countries - apart from a shocking magazine article in the Observer or Guardian magazine a few years ago it has been almost unreported by western media.

Re the Arcadia group who allegedly employed 250 staff in Ireland it is terrible to see those jobs lost and knock on effects but I really don’t think its as important to the small local economy as the OP thinks - they were struggling & nobody was shopping there already for a reason - projecting financial ruin for the masses is a bit of an overrection!!

Ten of Swords · 02-12-2020 1:52pm

Pretty sure the only way 2021 could top 2020 would be a full scale nuclear war, or an alien invasion!

Neyite · 02-12-2020 3:06pm

spook_cook wrote: »

I think 2021 is going to see the start of an economic boom the likes of which we haven't seen in a decade.

The aggressive savings rate all over the western world, the pent up demand for holidays/services/experiences etc, the coming vaccines which will give way for these to happen.

It'll be a very much two sided boom though. We have spiraling debt, a whole wave of businesses gone and more.

Oh good.

I was probably one of the few that didn't 'lose the run of myself' during the last boom and subsequently get all my debts wiped when it all went tits up. So this time around I'm going to go stone mad with NY shopping trips and channelling my inner Kardashian.

McGinniesta · 02-12-2020 4:38pm

I dare say we havent seen the back of this covid bollixology.

You cant kill a bad cold.

begbysback · 03-12-2020 2:03am

jmlad2020 wrote: »

And personally I'd love to see the Introduction of a 4 day work week this decade.. some companies already are which is promising.

We get paid for 5, yeah?

Potential-Monke · 03-12-2020 2:54am

begbysback wrote: »

We get paid for 5, yeah?

Yes and no. Yes, you wouldn't lose income, no because your workweek is now 4 days. From what I've read about it, either that or 5x6 hour days end up with increased productivity. I'd love it. But I have a handy night job on a 6-week 12 hour shift pattern, more nights off than on. And not very stressful. Still would prefer reduced overall working hours though.

corner of hells · 03-12-2020 4:09am

A possible army of mutants from the Covid vaccine, something like what lives in the sewers in Futurama.

Personally, I'd like see whoever's makes HulaHoops Smokey Bacon , cop on and put a decent amount in the bags.

JasonStatham · 03-12-2020 11:16pm

Wibbs wrote: »

I think that dog's gonna get that guy's crotch.

Ouch.

jmlad2020 · 05-12-2020 11:53pm

begbysback wrote: »

We get paid for 5, yeah?

You can work 6 days a week if you like fella.

I'll take 4 any day.

ILoveYourVibes · 05-12-2020 11:55pm

Do you want me to get the tarot cards out and tell you what i really think as in what the voices are telling me?

Or do you want me to nod and say the normal stuff?

El Tarangu · 05-12-2020 11:59pm

This prompted by an item on Joe Duffy - I'd say anything related to weddings will go through the roof once everything gets going again.

There will be a lot of pent-up demand from people waiting until any restrictions on numbers is gone; once that happens, there will be a hape of weddings for the next six months.

El Tarangu · 05-12-2020 11:59pm

ILoveYourVibes wrote: »

Do you want me to get the tarot cards out and tell you what i really think as in what the voices are telling me?

Honestly this explains a lot about your posts to date.

ILoveYourVibes · 06-12-2020 12:01am

El Tarangu wrote: »

Honestly this explains a lot about your posts to date.

Oh no it doesn't ..that is me TRYING TO LOOK SANE ! :pac:

Really i am MUCH worse!

Church on Tuesday · 06-12-2020 12:48am

Better times.

06-12-2020 1:49am

US economic meltdown. A staggering in the EU markets. The problems of debt financing (within companies) coming to a head, and the inability for companies to meet their interest payments, along with the various governments attempting to bail companies out with further national debt payments, but ultimately failing for most. A hefty rise in closures, and a rise in unemployment across all sectors.

I see a major recession throughout the world.

Enjoy your Christmas.

Capt'n Midnight · 06-12-2020 2:20am

Deleted User wrote: »

I see a major recession throughout the world. Enjoy your Christmas.

OECD says that apart from Argentina and the UK things should be back track by the end of 2021.

LETHAL LADY · 06-12-2020 2:28am

My cousin is a partner in a GP practice in the south of Ireland. They're preparing for a massive surge in Covid cases come the new year, the likes of which we haven't seen yet.

Another family member working with the HSE is involved in the building of separate pods in A&E departments (not separate Covid wards) throughout the country to cope with the anticipated surge in Covid cases come 2021.

Scaremongering post it may seem, but it certainly has made me think when I was told.

On a lighter note my son had predicted that Man Utd will win the Champions League in 2021👀

Eduard Khil · 06-12-2020 2:30am

Pineapple Daim Bars Lemon Cheesecake Twix and a huge recession that leads to WWIII

whats in store this coming year?

Comments