Recession is back baby

08-09-2020 9:28am

Tuco88 wrote: »

.........

Can/Aus citizenship is the golden ticket now.

Loads of folk worked through the last recession and loads will work through this one too.

Plumbthedepths · 08-09-2020 9:31am

Gretas Gonna Get Ya! wrote: »

There's plenty of countries whose economy has been pretty rubbish for decades, but most of the people stick around and don't run away.

And they especially don't run away, and then throw around empty rhetoric about how they love their country... despite having no interest in actually living there. Like many of our fine patriots do!

People of over 200 different nationalities living in Ireland, I assume some of the countries they came from have a crap economy or very low wages.
CSO data btw.

08-09-2020 9:32am

Deleted User wrote: »

It's times like these which is why I chose to work in the public sector.

Don't be p1ssing and moaning if you get a pay cut or extra levies

CBear1993 · 08-09-2020 9:36am

ShatterAlan wrote: »

There is NO recession-proof job.

NONE.

Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

Yes there are. If you work in pharma or on data centers at the moment. Those guys don’t stop. They worked all through Covid.

Gregor Samsa · 08-09-2020 9:38am

Gretas Gonna Get Ya! wrote: »

There's plenty of countries whose economy has been pretty rubbish for decades, but most of the people stick around and don't run away.

Yeah, but "most people" haven't emigrated from Ireland either, even during the really bad times. Anyway, that doesn't answer the question I asked. I'm beginning to suspect you're not basing your opinion on any actual facts.

s1ippy · 08-09-2020 9:41am

ChikiChiki wrote: »

Not entirely sure you understand the problem with huge numbers of unemployed remaining on home soil. The argument is silly.

And to further elaborate - some economies are perenially in the toilet. People cannot leave these countries because they are poor. Luckily in Ireland, we have the means to go elsewhere to better our lives when we need to instead of hanging around damaging our mental health and letting a huge experience gap grow on the CV.

I can just see the new row on CVs now. "Experience: domestic patriotic duty"

Maybe the patriots could join the FCA for free clothes and €0.20ph.

tabby aspreme · 08-09-2020 9:42am

ShatterAlan wrote: »

There is NO recession-proof job.

NONE.

Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

Coffins are mainly made from MDF, very little wood in them, undertakers won't suffer, they will up their prices

_Brian · 08-09-2020 9:43am

Plumbthedepths wrote: »

Wasn't he sat at the Cabinet table when the economy went off the cliff several years ago? That is what I base my opinion on.

The global economy went off a cliff. Did you seriously think Ireland would be immune to that. ?? If you think that a small export based economy like ours could withstand a global economic crash then you probably shouldn’t be commenting on grownup stuff.

_Brian · 08-09-2020 9:44am

This year in itself has no rules to follow.

Yea technically we’re in recession but I’d like to see next quarters numbers.

Still massive challenges out there with Brexit being but one.

ShineOn7 · 08-09-2020 9:48am

Atlantic Dawn wrote: »

From memory mortgage lending will stop first, house prices will tank.

Fcuking hopefully!

08-09-2020 9:49am

_Brian wrote: »

This year in itself has no rules to follow.

Yea technically we’re in recession but I’d like to see next quarters numbers.

.............

Indeed, the quarter that included a lockdown where restaurants, hotels & retail were all closed was always going to be fairly bad. Q3 results will be buoyed by domestic tourism but we'll have that next year also you would hope.

Wanderer78 · 08-09-2020 9:50am

ShockChance wrote: »

Ireland now officially in recession as economy shrinks by 6.1%
Got absolutely raped in the last recession. At least this time I have a good chunk of savings. Let the fun begin.

lets hope bank bail ins dont become popular during this one, just to rape you even more!

ShineOn7 · 08-09-2020 9:51am

Gretas Gonna Get Ya! wrote: »

Another recession, but all the patriotic folks who love to flee the sinking ship now have to stay on board and see out the storm!

And you seem delighted about it? Why?

OMM 0000 · 08-09-2020 9:51am

Atlantic Dawn wrote: »

Yes this one's a different kettle of fish, very few outs for people to head abroad to seek work.

China is absolutely desperate for English teachers.

Salary would be around 3k or so per month.

You would be able to save a big chunk of that.

Requirements are you have a degree and ideally are white (China is a racist country).

storker · 08-09-2020 9:54am

ShineOn7 wrote: »

And you seem delighted about it? Why?

This thread should be re-titled "Recession Porn".

screamer · 08-09-2020 9:55am

House prices won’t fall off a cliff, not new houses amyways. Help to buy is very good and with the specs that houses have to be built to these days for mech and elec, the days of cheap new houses are gone. You may see some reduction in the second hand market, but depends on the area again. I don’t see the oversupply we had last time, and much as people give out about lack of housing, I understand why there can’t be that glut of houses, construction needs to be sustainable, and it has a better outlook now than last recession.

Wanderer78 · 08-09-2020 9:58am

screamer wrote: »

House prices won’t fall off a cliff, not new houses amyways. Help to buy is very good and with the specs that houses have to be built to these days for mech and elec, the days of cheap new houses are gone. You may see some reduction in the second hand market, but depends on the area again. I don’t see the oversupply we had last time, and much as people give out about lack of housing, I understand why there can’t be that glut of houses, construction needs to be sustainable, and it has a better outlook now than last recession.

im convinced myself they will either, but we both could be wrong, plenty of credit is still available to those that can afford it anyway, to maintain prices

oceanman · 08-09-2020 9:59am

recessions like boomtimes are just a part of life that most of us will experience several times throughout our lives, noting much we can do about. one is just an overcorrection of the other. learn to live with both.

08-09-2020 10:01am

Augeo wrote: »

Don't be p1ssing and moaning if you get a pay cut or extra levies

In fact, a 2% pay rise in October and position been uplifted. I imagine that we'll be hit hard with USC though. We all have to make sacrifices.

KungPao · 08-09-2020 10:03am

ShineOn7 wrote: »

Fcuking hopefully!

I wouldn’t get too excited. Still a big shortage of properties and that will keep prices up, unless the economy really goes down the toilet. But then no one would have money to buy anyway unless they’re genuinely well-off. And people will be very reluctant to sell at considerable loss.

Wanderer78 · 08-09-2020 10:04am

oceanman wrote: »

recessions like boomtimes are just a part of life that most of us will experience several times throughout our lives, noting much we can do about. one is just an overcorrection of the other. learn to live with both.

disagree there, to a degree, it was well known that the current event of a pandemic and the previous crash, were inevitable events, we were pre warned of both events, but we chose to largely ignore these warnings, therefore failing to prepare for them, effectively. theres some great ideas out there to try reduce the effects of such events, but we regularly ignore them

Wanderer78 · 08-09-2020 10:05am

KungPao wrote: »

I wouldn’t get too excited. Still a big shortage of properties and that will keep prices up, unless the economy really goes down the toilet. But then no one would have money to buy anyway unless they’re genuinely well-off. And people will be very reluctant to sell at considerable loss.

again, theres still access to plenty of credit, for those that can afford it, to maintain prices also

Risteard81 · 08-09-2020 10:06am

Eleven Benevolent Elephants wrote: »

I take it you weren't alive pre 1973 and you've never read a history book.

Perhaps I'm just intelligent enough to understand that the Heroes of '16 did not die for a European superstate.

For what died the sons of Róisín?

08-09-2020 10:06am

Deleted User wrote: »

.............. I imagine that we'll be hit hard with USC.

Perhaps not but it'd be likely you'd imagine ........ Programme for government was Carbon tax increases heavy but no hikes in income tax or USC planned iirc.

screamer · 08-09-2020 10:07am

Wanderer78 wrote: »

disagree there, to a degree, it was well known that the current event of a pandemic and the previous crash, were inevitable events, we were pre warned of both events, but we chose to largely ignore these warnings, therefore failing to prepare for them, effectively. theres some great ideas out there to try reduce the effects of such events, but we regularly ignore them

I think for us all personally the only way to mitigate the impact of these events which seem to occur more frequently is to save in the good times for the bad. I think that’s. a story from the bible I remember from childhood, it goes to show as humans, we’re slow learners.

landofthetree · 08-09-2020 10:07am

oceanman wrote: »

recessions like boomtimes are just a part of life that most of us will experience several times throughout our lives, noting much we can do about. one is just an overcorrection of the other. learn to live with both.

The increases in public spending of today is the austerity of tomorrow.

As the great Milton Friedman once said it's really only an accident when any democratically elected government runs a budget surplus.

https://m.youtube.com/watch?v=UlNxIc9gUMc&t=266s

Irish_peppa · 08-09-2020 10:08am

Am i the only surprised the economy contracted by a mere 6%. Sure the whole country was effectively shut down for months.

ChikiChiki · 08-09-2020 10:08am

OMM 0000 wrote: »

China is absolutely desperate for English teachers.

Salary would be around 3k or so per month.

You would be able to save a big chunk of that.

Requirements are you have a degree and ideally are white (China is a racist country).

Could be an option. Have you done a TEFL course and does it take long?

I'm consulting atm with a degree but the contractor ground is very shaky so need to branch out my skillset. Also would be a good opportunity to learn Chinese.

screamer · 08-09-2020 10:09am

Risteard81 wrote: »

Perhaps I'm just intelligent enough to understand that the Heroes of '16 did not die for a European superstate.

For what died the sons of Róisín?

Idealism I believe is the answer there, they certainly weren’t the beneficiaries of what came afterwards. But life moves on, the world Changes, survival spurns necessity sand we are where we are.

Wanderer78 · 08-09-2020 10:09am

screamer wrote: »

I think for us all personally the only way to mitigate the impact of these events which seem to occur more frequently is to save in the good times for the bad. I think that’s. a story from the bible I remember from childhood, it goes to show as humans, we’re slow learners.

what if you have limited ability to save? the world has changed dramatically since the writings of the bible, a lot of the information in it, is largely irreverent now, but a lot is also still relevant, to some, anyway, we do not live in a black and white world

virginmediapls · 08-09-2020 10:10am

People who recently bought houses and have vested interest in prices staying high - "prices are definitely not going to drop soon".

People waiting to buy - "prices are definitely going to drop soon".

More at 6.

Tuco88 · 08-09-2020 10:11am

At least this time we all have masks to rob the post office or a credit union if you're a risk taker...

Wanderer78 · 08-09-2020 10:11am

landofthetree wrote: »

The increases in public spending of today is the austerity of tomorrow.

As the great Milton Friedman once said it's really only an accident when any democratically elected government runs a budget surplus.

growing deficits arent as problematic as once thought, growing private debt has historically caused far more serous problems, as we ve just experienced

screamer · 08-09-2020 10:14am

Wanderer78 wrote: »

what if you have limited ability to save? the world has changed dramatically since the writings of the bible, a lot of the information in it, is largely irreverent now, but a lot is also still relevant, to some, anyway, we do not live in a black and white world

I know, not everyone can save, but I hope that people that went through the last recession and could really changed their habits. I have my doubts though, people love to show off, pull the new car into the yards etc, but when the proverbial hits the fan, no one wants to buy that car.
A lot of people had means to save last time around, and I’m sure this time too, but there’s a difference between can’t save and won’t save. Our government never has a good idea on how to prevent financial catastrophe in Ireland, always relying on the emigration pressure release valve or taxing us to death. It’ll be very interesting to see if they have any ideas this time round or if they resort to calling in the IMF again for the next 10 year road map.

BuboBubo · 08-09-2020 10:15am

storker wrote: »

This thread should be re-titled "Recession Porn".

Here's a pic to start if off, Charlie getting a ride for himself #recessionporn

Triangle · 08-09-2020 10:17am

Risteard81 wrote: »

Perhaps I'm just intelligent enough to understand that the Heroes of '16 did not die for a European superstate.

For what died the sons of Róisín?

Sweet jesus, that's a very narrow viewpoint.

They didn't go though two world wars!! The reason the Europeans tried to start working together instead of fighting each other.

You might not like the EC, you may even want to 'make Ireland great again' but the EC has brought peace, stability and prosperity to Europe.
Your nationalistic view point is what causes wars.

Wanderer78 · 08-09-2020 10:20am

screamer wrote: »

I know, not everyone can save, but I hope that people that went through the last recession and could really changed their habits. I have my doubts though, people love to show off, pull the new car into the yards etc, but when the proverbial hits the fan, no one wants to buy that car.
A lot of people had means to save last time around, and I’m sure this time too, but there’s a difference between can’t save and won’t save. Our government never has a good idea on how to prevent financial catastrophe in Ireland, always relying on the emigration pressure release valve or taxing us to death. It’ll be very interesting to see if they have any ideas this time round or if they resort to calling in the IMF again for the next 10 year road map.

again, some really dont have the ability to save much, if anything at all, but you do have a point, to a point. our political institutions are stuck in dangerous ideologies thinking, mainstream economics is failing, badly, but our most critical institutions, including our political institutions, effectively, arent responding, but the voter has had enough, and are voting angrily, this could get hairy for us all, oh and the imf werent exactly 'called in', and its important to remember, the 'financial' issues of the 'financial crisis', were largely based in our private sector financial institutions, our public books were in okay state, leading up to the crash!

KungPao · 08-09-2020 10:22am

Augeo wrote: »

Perhaps not but it'd be likely you'd imagine ........ Programme for government was Carbon tax increases heavy but no hikes in income tax or USC planned iirc.

I’m expecting something new for CS workers, so I predict I’ll see a “Be glad you still have a job” tax on my slip if the economy goes belly up.

Oh well, I would be glad to still have a job.

08-09-2020 10:22am

tabby aspreme wrote: »

Coffins are mainly made from MDF, very little wood in them, undertakers won't suffer, they will up their prices

Strange as it may sound undertakers have been hit financially by covid too.

There has been no embalming, wakes and removals to churches the night before burials. It’s pretty much been collect, zip them up as seen, close the lid and lower it down.

Gregor Samsa · 08-09-2020 10:36am

Strawberry Milkshake wrote: »

Strange as it may sound undertakers have been hit financially by covid too.

There has been no embalming, wakes and removals to churches the night before burials. It’s pretty much been collect, zip them up as seen, close the lid and lower it down.

That was certainly the case during lockdown (my dad died in May), but things almost seem to be back to normal now. I was at a funeral last week, and apart from the reduced capacity in the church (big crowd outside), it was indistinguishable from a pre-covid one.

08-09-2020 10:44am

Sorry for your loss, Gregor.

Get Real · 08-09-2020 10:54am

ShineOn7 wrote: »

And you seem delighted about it? Why?

Presume it's because they'll be supping on 2.50 pints Fosters down the local and getting a kilo of carrots for 9cent. Ah, recessions... ðŸ˜‚

OMM 0000 · 08-09-2020 10:56am

ChikiChiki wrote: »

Could be an option. Have you done a TEFL course and does it take long?

I'm consulting atm with a degree but the contractor ground is very shaky so need to branch out my skillset. Also would be a good opportunity to learn Chinese.

I don't teach Chinese but I spend a bit of time in China most months. The foreigners I meet in bars tend to be English teachers.

I would assume a TEFL would help (even just for your own confidence) but they're definitely not necessary.

If you go to China you can either pick an "easy" city like Shanghai or go for an adventure in a city you've never heard of. They're all huge.

Gretas Gonna Get Ya! · 08-09-2020 10:58am

ShineOn7 wrote: »

And you seem delighted about it? Why?

Why not?

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

This pandemic might even have a positive effect in changing that element in our culture a bit.

Wanderer78 · 08-09-2020 11:00am

Gretas Gonna Get Ya! wrote: »

Why not?

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

This pandemic might even have a positive effect in changing that element in our culture a bit.

so when people run out of options that suit them in this country, and 'runaway' to other countries, to potentially improve those options, theyre in fact running away from their problems????

Gregor Samsa · 08-09-2020 11:08am

Gretas Gonna Get Ya! wrote: »

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

Seeking work abroad when there's none at home isn't "running away from problems", it's solving a problem. It sounds like you missed out on a few important life lessons yourself.

weldoninhio · 08-09-2020 11:09am

Triangle wrote: »

Sweet jesus, that's a very narrow viewpoint.

They didn't go though two world wars!! The reason the Europeans tried to start working together instead of fighting each other.

You might not like the EC, you may even want to 'make Ireland great again' but the EC has brought peace, stability and prosperity to Europe.
Your nationalistic view point is what causes wars.

The EEC was great.
The EU, not so much.

And a war will be needed to shed all the debt accrued. Brexit, EU breakdown, trade wars, actual war. Maybe Dublin will be bombed this time and we can rebuild with a proper street system.

Plumbthedepths · 08-09-2020 11:10am

Gretas Gonna Get Ya! wrote: »

Why not?

Quite a few of our citizens could benefit from sticking around and learning the important lesson in life of not running away from problems.

This pandemic might even have a positive effect in changing that element in our culture a bit.

So you want equality of misery? People will emigrate to improve their own situation / that of their family. Noone is going to pay attention to what you're peddling if they have an option.

Wanderer78 · 08-09-2020 11:10am

weldoninhio wrote: »

The EEC was great.
The EU, not so much.

not all eu functions are great, but some are

scrumqueen · 08-09-2020 11:16am

Atlantic Dawn wrote: »

From memory mortgage lending will stop first, house prices will tank.

With any luck. Id settle for them dropping to affordable TBQH.

Recession is back baby

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