Five years on.. fascinating look at posters views in 2006

[thedaras]

As I was looking back through the threads today, I came across this,I found it fascinating in light of all that has happened in the last five years.

Irish economy - are there clouds ahead?

 

[Firefly]

As I was looking back through the threads today, I came across this,I found it fascinating in light of all that has happened in the last five years.

http://www.askaboutmoney.com/showthread.php?t=32642&highlight=structural+faults

I like this one by Duplex on the last page:

So the current course of the Irish economy is unsustainable, this would seem to infer that we have to change course. A change in course would require the government to take action to bring the ship of debt to a shuddering halt. The chances of this government taking any action to change from this untenable course are beyond remote, much easier to blame unforeseen and uncontrollable external forces; if and when we hit the rocks.

Lehmans ring a bell?

 

[Shawady]

Only read the first two pages but interesting. The poster Room305 had some points that were on the ball.
Makes a mockery of the Bertie defence "No one told me there was a problem" when even amatuer posters on AAM were discussing potential issues coming down the tracks.

 

[Purple]

This post is also interesting.
Quoting from a Central Bank report;
"Related to the sharp rise in house prices, has been an increase in the overall level of indebtedness. This high, and still increasing, level of indebtedness constitutes a risk to the macroeconomic environment as well as to individual borrowers and lenders.
Ireland’s export performance remains consistently below the growth of demand in our export markets, indicating a worrying deterioration in competitiveness relative to our trading partners. In the short-term, wage and price pressures need to be kept in check, while it will be important to improve productivity performance across both the traded and non-traded sectors of the economy over the longer term"

 

[micmclo]

And this man became our leader?

The Minister for Finance Brian Cowen has dismissed suggestions that the economy is too dependent on the construction sector.

Calm before the storm

Dell Ireland look to be having serious problems.

I remember those days of landlords hiking rents and you queuing to see flats with ten other people, at least those days are over

The increase in rents will negatively impact the irish economy as younger / low paid workers will see their after rent income decline.

 

[Howitzer]

only read the first two pages but interesting. The poster room305 had some points that were on the ball.

rip

 

[DoctorEvil]

then we come to the "Biggie"

the elephant in the room so to speak

If you are part of the giant pyramid scheme that has taken over the nation called property(EA, banks, auctoneers,dodgy plumbers and assorted cowboys , bouncy castles etc) you should be good for next 2 years at least - that monster stampede has still got lots of legs in it yet - however when it does turn - as it will unless we are living in a parallel universe where the laws of economics have been totally turned on their head - all I can say , having begun my productive working life in Japan in the early nineties , is you sure better have a fast horse or SUV with the engines warmed up because it's not going to be pretty - forget about all that soft landing nonsense - we flew through that junction years ago .

Im not going to go into great detail into the Irish nations psycotic fixation with the accumulation of badly built houses in dead end estates - this site has more than enough of that already. All I will say is that the whole property explosion has completely masked the true economic condition of the country over the last 10 years.

Our wealth has not increased dramatically due to the usual way ,ie hard work ,producing and selling useful expensive stuff to foreigners, and then spending the proceeds in our own nation - most of the proceeds of our exports ends up far way in more tax friendly climes . Collectively We have gone out and borrowed , borrowed , borrowed to fund the current "boom" (well , to do the monty python thing - except me! - 3 years living in deflationary Japan engenders a certain feeling of profound disquiet when every eejit ya meet on the street these days is a flipping property tycoon and a total expert - prices can only up didn't ya know - Jeez we should find the source of this gravity defying matter , bottle and sell it and our collective economic anxietes would be banished forever. I could say "lemmings" but hey.....

Some great posts by user edo on that thread.