things are f*cked!

ok, we've spent 3-4 years hoping the recession would just
go away and we could return to being yuppies once more.

a centrally located apartment in Galway that would have
sold for €270,000 in the good times achieved €95,000 at an
auction in Dublin last week.

i have a car thats worth €3000 for sale for the last 4 months,
i have lowered the price to €1500 and still no interest.

whats your take on the state of Ireland's economy?

what type of car do you have and whats the year on it?

Quote:

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Originally Posted by warmcome

ok, we've spent 3-4 years hoping the recession would just
go away and we could return to be yuppies once more.

a centrally located apartment in Galway that would have
sold for €270,000 in the good times achieved €95,000 at an
auction in Dublin last week.

i have a car thats worth €3000 for sale for the last 4 months,
i have lowered the price to €1500 and still no interest.

whats your take on the state of Ireland's economy?

---

Everything is worth half what it was and thats still more than it should have been in the first place.

The level of craziness that exisited here was astonishing and even without a global recession we would still have been fcuked eventually, whatever political party was in power.

I think the big problem is banks are not giving money out and then people can't buy cars our go on holidays and in it's not keeping money in circulation until that changes the economy won't get any better banks need to start lending again.

Quote:

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Originally Posted by warmcome

whats your take on the state of Ireland's economy?

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In my humble opinion, Ireland doesn't have a real economy. A very large wedge of the money in peoples pockets is put there by foreign multinationals. During the boom a lot of income was generated through construction. We've now seen this was all artificial, funded by money from banks who in turn had borrowed it from international money markets. Now they can't pay it back nor can they borrow another cent effectively.

Ireland doesn't really produce any wealth. Its sources of income are largely from outside influences in the country. We failed to invest in ourselves during the boom and failed to build something up which actually does generate wealth. For that reason, Ireland is in no better state today economically than it was when the recession started. We still have no means to generate our own income and until we do, we'll always be dependent on other countries.

Regarding day to day economics. Sure aren't we all in negative equity up to our ears ? The recession will pass, but he who expects things to go back to the way they were is going to be very disappointed.

I'll keep this short and sweet: we're all f*cked! Emigrate, emigrate, emigrate! Except I can't cos I have aviophobia. So I'm more f*cked!!! Oh well...