Ireland Officially In Recession.

I read on another site that employees of a certain bank went on a heavy session in the belief that there would be no work on Tuesday.
 
The Drinks Industry Group of Ireland [DIGI] has reported an accelerating decline in alcohol consumption during the first nine months of this year. An analysis of excise receipts from the Revenue Commissioners reveals that alcohol sales are down 9% in the first nine months of the year [January – September inclusive] and are down 22% in the month of September alone [compared to the same month in 2007].
​
Speaking today, Michael Patten - Chairman of DIGI – said that the sharp drop in sales in such a short period is shocking and unprecedented and of a scale that is tipping the industry into crisis, risking jobs in both the manufacturing and pub and off-license sectors. “On the basis of these figures, it’s likely that we’ll see a decline in alcohol consumption per adult of 10% during the current year – that’s more than the decline we saw over the past six years combined [-7%].”​
Click to expand...

Now we know the real cause of recession. Start drinking again, you irresponsible bastards.
 
In these times or rising unemployment the Government must be thrilled to announce the creation of 115 new jobs. The new staff will be required to process the increasing numbers of workers joining the dole queues every week.
 
Re-reading the thread has anyone noticed Bar The Bull around? Hopefully he's just hiding in the toilets to avoid the people who he advised to buy bank shares as they bottomed.
 
This recession is going rather well, interest rates are dropping fast, fuel costs are down(not sure if it's related) and the shops are slashing their prices.
 
My guru reckons the ISEQ is going to 1000 and has been predicting this since it was well over 9000.I remember trying to explain this to friends of mine on the way to Punchestown when it was close to 6500 if I remember correctly.
I think 2009 will be savage.
 
I cant see it Sheikh,construction is stuffed,the banks are poison ,people just aren't spending unless its in Newry.
 
I have my eye on C&C,Ryanair and possibly Paddy Power.Listening to David McWilliams as I type is enough to put anyone off financials.
 
I think the banks will struggle for the next decade.With public opinion the way it is they will be an easy target for any government.
For various reasons including overcharging and attempted overcharging I have decided to change bank.I rang around today to make a few enquiries and its seriously hard work.
 
Back
Top