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17-06-2020, 21:17   #46
jack of all
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I worked for a substantial developer during the Celtic Tiger years; I didn't see any helicopters but there was a lot high living for sure- nice cars, fancy holidays, holiday homes and the rest. It didn't end well for anyone (I was made redundant before the whole thing folded- a blessing in disguise) and a lot of people were stung in the finish. I was a mere employee but I knew it could never last. I didn't enjoy the whole crass consumption that went on during the boom and was relieved when it ended. I thought we'd learned a lesson or two but wasn't so sure when things had started to ratchet up again in the past 2 years or so..except this time no one could have forseen Covid 19. Hopefully the country can recover economically but I never want to see a building boom like that again- it's so destructive and ultimately end in a lot of pain- just like a bad hangover after a "great" night out.
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17-06-2020, 21:25   #47
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I was quite the opposite. Was still in college leading into the recession so hadn't gotten to the point where I was living it up. I did get an OK paying job though, and there was no end of work, chance for extra hours regularly, etc all throughout the recession. I could've saved a fortune and actually used it sensibly but I blew it all on drinks and partying and senseless spending for years.

I think living in a city kinda insulated you from the true reality of the recession as well.

I was out several nights a week and the clubs we went to were always busy, all my friends held onto jobs as did my family, there was just never a sense of things actually being that bad in my social circle.
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17-06-2020, 21:27   #48
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A handy thing about not experiencing anything different during the Celtic Tiger was that I also did not experience anything different when the world apparently melted in 2008. Really felt like a vaguely disinterested onlooker to both cycles.

Ok. There was one thing I remember just now about the Celtic Tiger - the child allowance kept going up and up. I was fairly surprised but that didn't stop me accepting it.
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17-06-2020, 21:34   #49
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Can I add the often used Galway raceweek like Vietnam with the helicopters flying around. The Radisson had a helipad, maybe it still does, I’m not sure.

I went to an ATM machine in Renmore and the guy ahead of me took out €800 and well he didn’t alone empty the machine but I couldn’t use it as it went out of service

I worked in a hotel and €200 was cheap for a room those days. People falling into reception at 5am, barley using the room you paid for.

As a hotel night porter I learned a lesson that the “new money” often treated me like dirt but the true wealthy didn’t feel the need to impress or put others down

I often met one of the largest developers in the country Bernard McNamara. I’ve no doubt he was ruthless in business but to me he was always kind and his wife was lovely too. He later went into NAMA I think

I also worked at the racetrack in the infamous Fianna Fáil tent. People were nice to me, never a complaint at my side. I don’t recall Bertie Ahern drinking much at all but he was great for chatting to everyone. They had a comedian from Bull Island a politcal satire show who mocked them all so fair play, they could laugh at themselves. Brendan Grace did his routine also, the FF tent was good fun

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17-06-2020, 21:48   #50
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Also, know an elderly single man in Clare who sold a piece of land for €6 million. The same man could easily live on €200 a week. He was laughing at it, joking his home village was like Manhattan. Of course the land, which actually flooded at times, was never built on.
Pubs were always packed, the country definitely had a major drink problem. Went to my physio lately, a French guy here about 20 years. He said that one time people would frequently tell him about drinking double figures of pints the night before. Not being used to the Ireland of the time he was stunned at the alcohol culture, but he says he never hears that sort of thing now.
When I look back at the boom and bust it really shows the value of common sense. So called ‘experts’ were telling us the boom was sustainable, but many ordinary people knew better.
Because of the years I spent abroad I knew what a property crash was like and that it could happen despite predictions it wouldn’t, but there were a certain amount of people who simply did not believe that house prices possibly could decline. It was a hard lesson.
It has changed politics here, FF and FG combined don’t do much better than FF alone was doing during the Tiger years.
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17-06-2020, 21:53   #51
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My life seems to be very lukewarm. I didn't really benefit from the Celtic Tiger (even though I own my house now, since 2017). But I also didn't suffer much during the recession (apart from the extra taxes). Or do great in the resurgence. And I haven't suffered financially during the Covid thing either, since I've been working away.
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17-06-2020, 22:03   #52
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Yeah I had a great time of it but I stayed well away from the ridiculousness. Was making money, was plenty of work but never went above my station whatsoever. Was offered all the crazy bribes by the banks but kept well away. Knew it was a bag of trouble. But apart from that had a great time. Loads of gigs, bought loads of books and records that I still have and treasure. The wallop didn't really affect me only all the grimness elsewhere that came with it so I just stopped watching television.
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17-06-2020, 22:52   #53
Dr. Kenneth Noisewater
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Myself and a friend did a couple of weeks driving across Europe in summer of 2007 and we stopped off in Frankfurt for a night, ended up in a random bar chatting to two lads from Cork who were probably in their late 30s.

The story went that their wives were going to Rome for the weekend, so the two lads drove them to the airport and when they had left, on a whim the lads booked themselves onto the next flight to wherever for a weekend on the piss without telling the women.
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18-06-2020, 08:52   #54
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Originally Posted by Dr. Kenneth Noisewater View Post
The story went that their wives were going to Rome for the weekend, so the two lads drove them to the airport and when they had left, on a whim the lads booked themselves onto the next flight to wherever for a weekend on the piss without telling the women.
So they went to Frankfurt - possibly the most boring city in Europe (after Luxembourg)?
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18-06-2020, 09:34   #55
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Did not affect me much as I trying to bring up two children mostly by myself, non of my family really affected by it either have one brother in the construction but his is shrewd and careful and by the time it all collapse he was in a position where it did not affect him.

It was much harder for my second daughter to get a job as a teen when the downturn came whereas her older sister always had jobs as a teenager and no problem getting a job either.

Maybe it was a very narrow section of society it affected, it would be far more interesting to see how many bounced back and are doing well now.
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18-06-2020, 09:41   #56
valoren
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The payouts from the SSIA scheme matured around 2005/2006. It was the second stage of a credit fueled rocket kicking in for many. Equity releases, thousands received from a government top up saving scheme, 100% plus mortgages, loan offers from credit unions, preapproved credit cards, unsecured bank loan offers. All Hat, no cattle. How did it all go wrong?

Last edited by valoren; 18-06-2020 at 13:06.
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18-06-2020, 09:48   #57
mariaalice
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n 2007, a property developer booked Girl Aloud for his daughter's 21st. The group were reportedly flown by private jet to Dublin and performed on stage before mingling with guests. According to event planners, the cost of the band alone could have been anything up to €400,000.

Found this online, be hard to top that but I am sure some did.
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18-06-2020, 09:56   #58
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Its easy to forget a thing like this, but because of the downturn we were able to buy a house in a very nice area in other words an expensive and sought aftre area for a great price, so some did very well out of the down turn.
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18-06-2020, 09:58   #59
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Originally Posted by enricoh View Post
Went for and got a business loan in 2005, the guy in the bank lost interest when I only wanted 100k, tried to convince me to take 250k and 'do the job right'. (And help his commission!)
Was putting up part of the farm as collateral and would be shot if it went sour so I stuck with the 100k thankfully!



I read that as went for and got a guinness loan in 2005. you probably could get a loan for guinness back then.
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18-06-2020, 10:00   #60
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Sean Quinns daughters wedding cost 1 million euro.
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