How the Celtic tiger lost its roar

[anitasizzle]

That’s the upside to not being ruled by money and being seen to have money that people got caught up in. The boom sailed over my head but so will the recession. Keeping up with the Jones is a dangerous game to play as no one can win in the end if you play to long. I had the piss taken back a few years ago but those that did are now shitting bricks trying to pay for things they never really needed.

Precisely. I remember being 'flushed with cash' a couple of years back, and being made fun of, considered stupid, and laughed at because I didn't let the money get to my head-they didn't understand it wasn't going to last very long.

QUOTE=thehighwayman;76345]It's the banks and people that got too greedy. They have themselves to blame for it by living a millionaires lifestyle with money they didn't have.[/QUOTE]

In all fairness, people were literally brain-washed into believing they could have it all, if they got 'this loan', get this type of credit card, and remortgaged their homes .

There was a test back in early 70's to see whether people would go along with what was told to them, if it was told by a person of authority or a member of the professional classes. Test results showed they would.

[Quarterpoundher]

Precisely. I remember being 'flushed with cash' a couple of years back, and being made fun of, considered stupid, and laughed at because I didn't let the money get to my head-they didn't understand it wasn't going to last very long.

Yip I got that a lot but not because I was flush but in fact the opposite and did not run to the bank manager for a 100% morgage for a house to big for me.

You never miss the water till the well runs dry..

[anitasizzle]

Yip I got that a lot but not because I was flush but in fact the opposite and did not run to the bank manager for a 100% morgage for a house to big for me.

You never miss the water till the well runs dry..

Me either, there was something unappealing about buying a house that 40%-60% over-valued.

[carlos marvado]

We talked the celtic tiger up on the back of a speculative property bubble and we're now just talking it back down again. No bubble is ever sustainable in the long run and the correction will have to take us back to where the economy would have been without this OTT speculation. Given that the tiger had a life-span of about 15 years, we may have a long way to go yet, but at least it looks like we could hit rock bottom rapidly.

Unfortunately the celtic tiger years have left us with massive private debt and are also now going to land us with massive public debt, a high cost base and uncompetitiveness.

You can ignore the message and shoot the messanger if you wish but that is not going to solve our problems......and a country that is going to maybe take in €34bn in tax revenues and spend some €58bn this year has a big problem. The head in the sand strategy was tried already by the politicians, bankers, developers, economists and most of the media pundits and it did'nt work. But at least the public sector and their unions can still find some solace in cloud cuckoo land....but for how much longer?

It says a lot about the state of governance here, when an escort called Anita (who earns her living via "private donations") makes more sense then some of the clowns who sup from the public purse (That's public and not pubic brothers ).

[anitasizzle]

We talked the celtic tiger up on the back of a speculative property bubble and we're now just talking it back down again. No bubble is ever sustainable in the long run and the correction will have to take us back to where the economy would have been without this OTT speculation. Given that the tiger had a life-span of about 15 years, we may have a long way to go yet, but at least it looks like we could hit rock bottom rapidly.

Unfortunately the celtic tiger years have left us with massive private debt and are also now going to land us with massive public debt, a high cost base and uncompetitiveness.

You can ignore the message and shoot the messanger if you wish but that is not going to solve our problems......and a country that is going to maybe take in €34bn in tax revenues and spend some €58bn this year has a big problem. The head in the sand strategy was tried already by the politicians, bankers, developers, economists and most of the media pundits and it did'nt work. But at least the public sector and their unions can still find some solace in cloud cuckoo land....but for how much longer?

It says a lot about the state of governance here, when an escort called Anita (who earns her living via "private donations") makes more sense then some of the clowns who sup from the public purse (That's public and not pubic brothers ).

Thanks, Carlos, and thanks to my many Irish benefactors, who through their 'private donations' enabled me to purchase lots of books and periodicals


P.S. someone really tell the 'Poles' to read Sir Thomas Moore's ''Utopia'' or Voltaire's
''Candide'' before they make the LEAP

[sam07]

where it went wrong, why it went wrong? i'm not sure but unfortunately i never made alot from the tiger but i always had enough. i was too tight to buy a house because i realised they are over valued and need to half in price to get back to normal. the property boom caused about 15yrs work which got done in 5yrs cause people just got too greedy. maybe a cap should have been put on non nationals, a visa system like other countries. the meltdown in the US has a knock on effect on every country worldwide, i,ve lost my job 3 weeks ago without any notice just shut down, and here i am spending time on escort ireland to pass the time and look at the lovely ladies i cant have.. well maybe some. Also i'm not paying tax but am taking from the government which no one had taking into account there losing on the double from everyone out of work. these are my views may not be right just an opinion.

[experienced punter]

Its annoying all the same watching these slimey parasite bankers feeding off each other giving out money that couldn't be paid back giving loans & bonuses to themselves & their cronies entirely motivated by Greed, now the taxpayer picks up the pieces dont make sense, what about the sneary face of that Fingleton fella the other day dyed beard & hat it was like a scene from a mafia movie all of them should face justice though cant see many being jailed

[RicFlair]

where it went wrong, why it went wrong? i'm not sure but unfortunately i never made alot from the tiger but i always had enough. i was too tight to buy a house because i realised they are over valued and need to half in price to get back to normal. the property boom caused about 15yrs work which got done in 5yrs cause people just got too greedy. maybe a cap should have been put on non nationals, a visa system like other countries. the meltdown in the US has a knock on effect on every country worldwide, i,ve lost my job 3 weeks ago without any notice just shut down, and here i am spending time on escort ireland to pass the time and look at the lovely ladies i cant have.. well maybe some. Also i'm not paying tax but am taking from the government which no one had taking into account there losing on the double from everyone out of work. these are my views may not be right just an opinion.

That sucks Sam.

Oh well I'd say the Soup Kitchens will be opening by the end of the year and thats no joke.

[Quarterpoundher]

No fear of you Ric. I hear you are recession proof and on very good money

PS

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