Ireland Officially In Recession.

Random thoughts.

The growth assumptions are ludicrous.

The investment expectations are dodgy.

The IMF are not bailing Ireland out, or helping us in any way. The market will not allow Ireland more debt because Ireland cannot afford to pay any more back. The "bailout" is merely a way for the IMF to irresponibley loan us more funds. Ireland defaulting is merely being delayed.

I think there were better ways of reducing the minimum wage.

Technically the Croke Park agreement has been broken by making the Public Service Pension Levy non tax deductable (or whatever way you want to put it). That will cause problems.

The four year plan is hiding a lot of shit in non-identifiable language, in the hope some of the bad stuff will be accepted before the budget really hits home, and people can start to work out some of the pain in pounds, shillings and pence.
 
LUKE said:
There is more to life then money.I earn a modest amount and live in a modest house but there are some serious advantages to living in Ireland.
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Agree very much but 2 questions for you - why bet a lot then and what for you has Ireland got other places don't?
 
Why do I bet a lot-I have been a big racing fan since the early 80s-it is my number 1 sport -nothing else comes close.I don't have a credit card so I can only bet with my own money.In the last year I had a betting volume of over a million on Betfair and made a very small percentage profit-enough to pay for a decent amount of household stuff and all the rest that married men pay for.Cash betting was also fairly good-stand in an Irish betting shop with Betfair mobile and a decent amount of cash and opportunities will come your way.I don't know if I answered your question but that's what I do-it gave me the opportunity to play the stock exchange this year -and to be honest I feel it's just another form of gambling-along with pensions and property investments.
When we got married the wife said to me no more betting in tens and twenties-it drives her nuts-I remind her we managed to pay off the mortgage in our thirties by another form of gambling which she was opposed to.
What has Ireland got to offer-families for both of us,job security,a fantastic education for our daughter and eventually the baby boy.The friends I have had since primary school.Ten minute drive to the beach,twenty minutes to the mountains.In a nutshell the simple things in life.
 
Cheers for your post Luke, enjoyable to read - i was asking out of curiosity, in case it came across as something different.
 
Luke, great post. I could be incredibly wrong, but I've nurtured the notion that Ireland still offers a sense of community which is missing in much of England. I wouldn't say 'the UK' because there still seem to be strong communities in Wales and Scotland, but many parts of England - particularly the urban areas - have lost a lot of their community loyalty. I'd also venture that you have a much lower crime rate than the UK overall and England in particular, and that while I noted during my brief trip to Goffs in early 2008 that the hotel I stayed at employed 'foreign' EU staff, you perhaps don't suffer quite the same amount of incursions from unemployed foreigners.

It's bad that the cherry's been knocked off the cake, and there's much talk of a loss of sovereignty, but which country operates in a self-sufficing vacuum? None. All countries are interdependent, possibly with the exception of North Korea. Otherwise, countries are either back-slapping overt pals, sneaky hand-holders under the table, or illicit lovers skulking in the shadows but still doing deals and exchanging goods, services, and money. We just didn't know how much, it seems, until recent financial disaster overtook most of the Western world. I don't think that anyone is truly sovereign or has been for a very long time. Not worth worrying about - the main thing is to live within means now and you seem to be doing a good job - and very happily - for your family in that.
 
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I try to be as honest as I can.I would never glorify gambling to someone starting out-I would try and discourage them.I take the view that anyone on here has made up their own mind.
 
some of the actions will be painfull in a short time but good for the long

the problem is why up the taxes
it will stop the economy and will be negative for the country



also there are other factor
in Spain we are even worse than there but there is not rescue, at last for some days
and what will happen if they act here with the euro?
 
Krizon-regarding a sense of community Jimmy Carr was on Irish television talking about growing up in Slough-he reckoned people had very little in common whereas in Ireland the G.A.A. brought people together -even from counties that had little or no success.
If you meet someone in Ireland for the first time talking about the county football or hurling team is usually a good icebreaker unless they are from Kilkenny -they tend to bore the arse off everyone else.
 
And do you think all of the Eurocrats falling over themselves to bail Ireland out are doing so solely in Ireland's best interests?
 
Would your opinion be that a bail out is in the best interests of Ireland, the Euro-zone or both?
 
betsmate said:
And do you think all of the Eurocrats falling over themselves to bail Ireland out are doing so solely in Ireland's best interests?
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Beware of strangers bearing gifts unless it's the high street chains going 10/11 about The Commander!!
I probably think a default sooner rather than later would be the most appropriate action - this would be unthinkable to the vast majority of Irish Citizens and could never happen in the current political morass we are in!! We are even struggling to burn the bond holders for gods sake!
 
betsmate said:
Would your opinion be that a bail out is in the best interests of Ireland, the Euro-zone or both?
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I don't think we know enough - I certainly don't - to be able to answer that question, except to say that unless Ireland's interest and the eurozone interest coincide in the long run the problem will not go away.

I guess it depends on the terms of the bail out and I haven't seen them spelt out anywhere yet. If the amount being offered at 5% interest is intended to replace part of the huge amount already advanced by the ECB at 1.5% - in other words increase the cost of already existing debt -then it's hard to see how the bail out will help Ireland.

But if the amount being advanced in the bail out is on top of the cheap money already obtained from the ECB then it is probably a good deal.
 
Cheers, Luke - always nice to get a little more insight into forum members' lives, their likes and dislikes, etc., as things can be rather one-dimensional without the sight and sound of conversation. I'll watch those Kilkenny folk, then!
 
It seem's that the EU. is like stake of cards and if one card fails the hole thing flops, China is one of the few country's who have worked hard and erned there whealth, but een they need somone to sell too, but loaning extra money just dela's the crash,
I would expext the banks to crash, any time soon, and send the country into a deep 10 year slump. This will also take out Spain Portugal, Greece, France and the UK,
 
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