Hobbs, McWilliams, Ahern getting rich by using the 'fear' tactic. If they were genuine and actually knew something they would have made lots of cash on their knowledge
....these so called experts (only interested in personal gain)...
So, why don't we start actually listening to the true voices of authority, the business owners, on how the economy is performing and not these jumped up so-called experts who are spreading the doom for their own financial benefit.
Surely businesses owners have just as much of a vested interest in maintaining an "all is well" stance as McWilliams et. al. have in claiming we're doomed?
So if the dogs on the street know (1) that the residential construction sector accounts for a large element of our economy,
Not bury your head in the sand but unless you are involved in the construction industry you should continue as normal. A decrease in production does not mean a crash. Things go up and down, thats life.and (2) that this sector is decreasing its production; should we collectively act on this information as soon as we learn of it, or should we bury our heads in the sand for a year or two until the statistics are published?
If we were in for it there'd be no hiding it.
Lagging back to 1999 when McWilliams was still spouting the same rubbish? Open your eyes. People need to get on with work. The dream of sitting on your ass waiting for your house to make you a millionaire are over, that is all...nothing more.Statistics are a lagging indicator and as such they will only tell people that we're in a recession when we're already in the thick of it.
An economy is based on imports and exports, considering the Irish construction industry is all imports how is this going to affect the balance of the economy?
Not bury your head in the sand but unless you are involved in the construction industry you should continue as normal. A decrease in production does not mean a crash. Things go up and down, thats life.
If we were in for it there'd be no hiding it.
Open your eyes. People need to get on with work. The dream of sitting on your ass waiting for your house to make you a millionaire are over, that is all...nothing more.
So you're saying that the construction sector will experience a downturn but the economy will prosper regardless?
But isn't the whole point, that so many people are in that particular industry (and its offshoots), and when it turns down many will be impacted.I do not think a normalisation will have a major negative effect on people outside of the industry
But isn't the whole point, that so many people are in that particular industry (and its offshoots), and when it turns down many will be impacted.
But there are people in the industry that should not be there. They are riding the gravy train. For them it will be a case of back to the day job. Anyway, the smart ones have already cashed in and gone back to the day job.
What I'm saying is the construction industry in Ireland is no more than a redistribution of wealth and credit. It is not bringing money into the country and I do not think a normalisation will have a major negative effect on people outside of the industry or on the economy as a whole. In fact I think it will be healthy, see my forest fire analogy. People will now have to work for a living and those with money to spare will have to invest in something which is of benefit to the country.
My view is, if the government had the bottle, it should have stuck to its property agenda in circa 2001 and penalised second homes through higher tax. .