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Great depression

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By *osmicGate OP   Man
over a year ago

louth

Imf predicts our economy will shrink by -3%...to put that into perspective the recession of 2008 our economy only shrunk by -1%..so this 1 coming will be 3 times as bad as 2008..imagine that

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By (user no longer on site)
over a year ago

Because they economies of the larger more influential nations will be effected this time round I suspect there will be less austerity and more support from all the financial institutions tbh...

But its still going to be a painful recovery alright

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By *osmicGate OP   Man
over a year ago

louth


"Because they economies of the larger more influential nations will be effected this time round I suspect there will be less austerity and more support from all the financial institutions tbh...

But its still going to be a painful recovery alright"

Yes let's hope they fire as much money at the problem as possible.. The years following 2008 were desperate.. Nobody wants to go back to those days

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By (user no longer on site)
over a year ago


"Because they economies of the larger more influential nations will be effected this time round I suspect there will be less austerity and more support from all the financial institutions tbh...

But its still going to be a painful recovery alright"

What do you mean by more influential nations will be affected this time compared to 2008?

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By (user no longer on site)
over a year ago


"Because they economies of the larger more influential nations will be effected this time round I suspect there will be less austerity and more support from all the financial institutions tbh...

But its still going to be a painful recovery alright

What do you mean by more influential nations will be affected this time compared to 2008? "

As in the likes of Germany and France will be in as much need of financial support.

I hope the combined political influence of the larger economies will soften the blow when dealing with the IMF and central banks etc...

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By *ackk25Man
over a year ago

Kilkenny

Not quite the great depression!... This will be treated similarly to a world war so macro level debt forgiveness and a Marshall plan will be put in place until markets get back to some kind of equilibrium

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By *kd2019Man
over a year ago

North

I don’t know could I go through those years of 2008 sure they were poverty years for a long time I wouldn’t mind things were only starting to get going again before this pandemic

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By (user no longer on site)
over a year ago

Last night we counted 24 businesses for sale in our local area only.

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By *kd2019Man
over a year ago

North


"Last night we counted 24 businesses for sale in our local area only. "
24 what type of businesses?

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By *osmicGate OP   Man
over a year ago

louth


"I don’t know could I go through those years of 2008 sure they were poverty years for a long time I wouldn’t mind things were only starting to get going again before this pandemic "

Yea me too not at all happy with the thoughts of going through all that again

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By (user no longer on site)
over a year ago


"Imf predicts our economy will shrink by -3%...to put that into perspective the recession of 2008 our economy only shrunk by -1%..so this 1 coming will be 3 times as bad as 2008..imagine that "

Payback will be hell...but at least Ireland won't be the only country,and wont be like the last time thrown under the bus on its own

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By *easingTimMan
over a year ago

Loughlinstown


"Imf predicts our economy will shrink by -3%...to put that into perspective the recession of 2008 our economy only shrunk by -1%..so this 1 coming will be 3 times as bad as 2008..imagine that "

-----------

Have a look at the National Debts of countries for the last few years and you might come to the conclusion that a lot of creative accounting has occured (on a scale that Enron would be proud of)

2008 was a speed bump compared to what's on the way. Seriously, I'm not a doom and gloom merchant but i would would say people need to get very economically and financially savvy very quickly because as Benjamin Disraeli said that "there are three types of lies...Lies, damn lies and statistics" Have a read of the economist Chris Martenson with a drink sometime about GDP measures, etc...

My go to guy is Robert T Kiyosaki. His podcast is direct, pragmatic and he leads by example

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By (user no longer on site)
over a year ago

Not everyone is hurting because of this. Anyone with a public sector job is probably better off now than before due to less childcare and travel experience. The hospitality sector and tourism is fecked, construction is ok because it was at a very low base, agriculture is ok. The banks are in a good position after being so caution for so long, consumer sentiment is good, the government that was already fucked is more fucked so there is no real problem. The average person on the ground dose not give one fuck about national debt

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By *z2goTV/TS
over a year ago

london

Where were you looking ?

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By *easingTimMan
over a year ago

Loughlinstown


"Not everyone is hurting because of this. Anyone with a public sector job is probably better off now than before due to less childcare and travel experience. The hospitality sector and tourism is fecked, construction is ok because it was at a very low base, agriculture is ok. The banks are in a good position after being so caution for so long, consumer sentiment is good, the government that was already fucked is more fucked so there is no real problem. The average person on the ground dose not give one fuck about national debt "

---------

The person on the ground might "give one fuck" when they discover the concepts of how quantitative easing, zero interest rates, stagflation then Hyper inflation all work at the ground level

History doesn't repeat itself, but it always rhymes...

Pleasant dreams

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By *osmicGate OP   Man
over a year ago

louth


"Not everyone is hurting because of this. Anyone with a public sector job is probably better off now than before due to less childcare and travel experience. The hospitality sector and tourism is fecked, construction is ok because it was at a very low base, agriculture is ok. The banks are in a good position after being so caution for so long, consumer sentiment is good, the government that was already fucked is more fucked so there is no real problem. The average person on the ground dose not give one fuck about national debt "

You'll give a fuk when you lose your job and can't pay your mortgage.. You'll care when the price of food and other essential items rockets and you go hungry..

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By (user no longer on site)
over a year ago


"Last night we counted 24 businesses for sale in our local area only. 24 what type of businesses?"

It doesn't matter. People have not enough income to sustain a livelihood and pay staffs wages and are trying to get out.

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By (user no longer on site)
over a year ago

Anyone care to guess as to when property prices might fall?

Also, is this a lightbulb - I see boobs in a yellow jumper zipped up.

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By (user no longer on site)
over a year ago

It'll really all hit home when all the front line staff and services that Leo is praising so much atm will be told that they now have to pay for all this ...like the recession in 2008...

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By (user no longer on site)
over a year ago

Way back in 2008 when the Bertie Ahern led FF government used tax payers money to bail out Anglo Irish investment bank, and its super rich bond holders to the tune of €64 million.

Now are the banks gonna bail out the people? I doubt it somehow.

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By (user no longer on site)
over a year ago


"Way back in 2008 when the Bertie Ahern led FF government used tax payers money to bail out Anglo Irish investment bank, and its super rich bond holders to the tune of €64 million.

Now are the banks gonna bail out the people? I doubt it somehow. "
well they should

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