I find it a bit odd that this is the biggest economics news in a long time, and lots of Irish message boards are buzzing with it, and yet here at AAM it's all very low-key. As I write, there are twice as many people viewing the Cars forum as this one.
Anyway, I'm new here so maybe I'm missing something.
I have to say, I find it hard to take these studies/predictions (ESRI today for eg) seriously. This will be the 5th time they revised their forecasts so it doesn't really say much about their skills if you ask me.
Some wag on newstalk said they'd be voting against the recession as they didn't understand it.
Government finances which have taken a dive surely indicates cut backs are on the way unless we borrow heavily and this will only postpone the day of reckoning. what concerns me is how people from aged around 40 downwards who have never had to cut back will cope with tough times. Many middle aged folk who have experiences of bad times often comment how will the new generation, with all their money etc, cope in a recessionary period.
This is why my slogan is:
"You are what you think"
Many will laugh - but that is to be expected - if I get one reply agreeing with my way of thinking I will be pleasently surprised, and, so might this person - as like attracts like - and like minded people share information freely, petty things like money do not even come into the equation!
Now the flak
There is too much philosophy in the above post for my taste, and I really hate it if some random quip from the bible is thrown at me for no apparent reason.
Anyway, I take the only useful part of a sentence from tha tpost:
"accomplish great things without actually doing anything"
A national property boom does not create sustainable wealth. However, many people might have made lots of money, as it is always a pyramid scheme (see DmcWilliams Generation Game) but the young are ****ed with their 40 year mortgages.
So why did so many bet in property? Because you can "accomplish great things without actually doing anything". Do you have to any creative idea to invest in property? No. Do you have to take any risk? No. Banks have taken the risk.
10 years of Celtic tiger wasted. Infrastructure still in bits. Not a single complete motorway between any two bigger cities in Ireland. Dublin public transport rubbish. Health Service bad. Public Service too bloated.
How is this country going to make it over the next 10 years if even during prosperous times too little has been achieved. Good night and good luck.
Who are you? the new messiah....
It might come as a great shock to many, to discoiver that our "education" system is fundamentally flawed - and if you read my post above you will see why!!
The next thing we will be hearing is that the statues have begun their movements again
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