Irish economy goes into recession

2008-09-25 08:51:23

#1

Switch: Knee Deep In Clunge; +489|6882|Tyne & Wear, England

The Irish Republic's economy has fallen into recession after shrinking for a second quarter in succession.

I guess it comes at a bad time for Ireland, who had recently topped growth charts in the EU with GDP rates of 6.7%.

With the Republic of Ireland being the first EU country to go into recession, does it spell danger for the rest of us?

Somewhere, something incredible is waiting to be known.

2008-09-25 09:15:37

#2

CameronPoe: Member; +2,925|6974

From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).

Last edited by CameronPoe (2008-09-25 09:28:10)

2008-09-25 10:05:23

#3

ELITE-UK: Scratching my back; +170|6893|SHEFFIELD, ENGLAND

CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).

2nd Richest by GDP Per capita, Britain is 2nd richest by the total ammount

2008-09-25 11:18:37

#4

FatherTed: xD; +3,936|6919|so randum

ELITE-UK wrote:
CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).
2nd Richest by GDP Per capita, Britain is 2nd richest by the total ammount

GDP per capita is the accepted way of measuring the strength of an economy

On the other hand, living prices in Eire are fucking insane - Dublin especially.

Small hourglass island
Always raining and foggy
Use an umbrella

2008-09-25 11:41:07

#5

jord: Member; +2,382|7097|The North, beyond the wall.

FatherTed wrote:
ELITE-UK wrote:
CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).
2nd Richest by GDP Per capita, Britain is 2nd richest by the total ammount
GDP per capita is the accepted way of measuring the strength of an economy

On the other hand, living prices in Eire are fucking insane - Dublin especially.

I thought it was purchasing power. USA owes trillions yet are considered the richest.

2008-09-25 14:29:24

#6

usmarine: Banned; +2,785|7181

inb4comparisonby cam....

oh wait

i mean unreal. all that time bitching about palin and your country is in a recession. lulz

Last edited by usmarine (2008-09-25 14:33:37)

2008-09-25 14:37:54

#7

CameronPoe: Member; +2,925|6974

usmarine wrote:
inb4comparisonby cam....

oh wait

i mean unreal. all that time bitching about palin and your country is in a recession. lulz

lulz/lewl

The fact Ireland is over-exposed to American problems is a major gripe of mine. This US sub-prime crisis is going to hit Ireland more than any other nation on earth (other than the US of course).

http://uk.news.yahoo.com/tcm_ireland/20 … 17b45.html

PS Palin is a hick unfit for potential office.

Last edited by CameronPoe (2008-09-25 14:40:54)

2008-09-25 14:39:54

#8

usmarine: Banned; +2,785|7181

CameronPoe wrote:
The fact Ireland is over-exposed to American problems is a major gripe of mine.

yep....blame away babe

2008-09-25 14:42:06

#9

CameronPoe: Member; +2,925|6974

usmarine wrote:
CameronPoe wrote:
The fact Ireland is over-exposed to American problems is a major gripe of mine.
yep....blame away babe

Our politicians decided that the lowest corporate tax rate in Europe would be a good idea. It was in many ways - it attracted hundred of thousands of jobs here. Unfortunately when the shit hits the fan those jobs evaporate.

PS You wouldn't happen to have a spare $2,333 for a needy investment bank with no place to sleep tonight?

Last edited by CameronPoe (2008-09-25 14:43:34)

2008-09-25 14:45:19

#10

usmarine: Banned; +2,785|7181

CameronPoe wrote:
PS You wouldn't happen to have a spare $2,333 for a needy investment bank with no place to sleep tonight?

spare? sort of i guess. but you cant have it.

2008-09-25 15:49:01

#11

blademaster: I'm moving to Brazil; +2,075|7064

ELITE-UK wrote:
CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).
2nd Richest by GDP Per capita, Britain is 2nd richest by the total ammount

yeah U.K. should send a boat full of gold to States and help us out

2008-09-25 16:11:04

#12

SealXo: Member; +309|6955

its bushs fault

2008-09-25 16:37:32

#13

deeznutz1245: Connecticut: our chimps are stealin yo' faces.; +483|6912|Connecticut

William Wallace's fault.

Last edited by deeznutz1245 (2008-09-25 16:37:53)

Malloy must go

2008-09-25 16:46:02

#14

jsnipy: ...; +3,277|6941|...

deeznutz1245 wrote:
William Wallace's fault.

That's Scotland is it not

2008-09-25 16:46:56

#15

deeznutz1245: Connecticut: our chimps are stealin yo' faces.; +483|6912|Connecticut

jsnipy wrote:
deeznutz1245 wrote:
William Wallace's fault.
That's Scotland is it not

It matters not, he could have done more.

Malloy must go

2008-09-25 23:27:19

#16

ELITE-UK: Scratching my back; +170|6893|SHEFFIELD, ENGLAND

FatherTed wrote:
ELITE-UK wrote:
CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).
2nd Richest by GDP Per capita, Britain is 2nd richest by the total ammount
GDP per capita is the accepted way of measuring the strength of an economy

On the other hand, living prices in Eire are fucking insane - Dublin especially.

Britains GDP is higher than Germany's, but Germany is still the richest country in Europe.

2008-09-26 03:36:27

#17

deeznutz1245: Connecticut: our chimps are stealin yo' faces.; +483|6912|Connecticut

ELITE-UK wrote:
Britains GDP is higher than Germany's, but Germany is still the richest country in Europe.

Right, but they still idolize David Hasselhoff so in essence they are poor.

Malloy must go

2008-09-26 03:44:40

#18

jord: Member; +2,382|7097|The North, beyond the wall.

GDP doesn't really matter in the grand scheme of things. Or a small country with no financial or political clout could be called the "richest" when they have less than a million people in their population but they're all employed...

2008-09-26 08:57:50

#19

Braddock: Agitator; +916|6709|Éire

deeznutz1245 wrote:
jsnipy wrote:
deeznutz1245 wrote:
William Wallace's fault.
That's Scotland is it not
It matters not, he could have done more.

https://ett.arts.uwo.ca/rump/assets/maps/mainmap.jpg

2008-09-26 11:03:45

#20

M.O.A.B: 'Light 'em up!'; +1,220|6642|Escea

Braddock wrote:
deeznutz1245 wrote:
jsnipy wrote:

That's Scotland is it not
It matters not, he could have done more.
http://ett.arts.uwo.ca/rump/assets/maps/mainmap.jpg

That map forgot to colour NI differently

2008-09-26 15:34:17

#21

topal63: . . .; +533|7137

CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).

What do you do?

If you're in the health care industry I doubt you'll feel the same level of effects?
If you're working for a Public or Private power company - basically the same thing as above?
Or maybe you're working in some other service industry that has a tendency to remain consistent (has a regular cash flow: insurance or what not)?

2008-09-26 18:17:10

#22

Braddock: Agitator; +916|6709|Éire

M.O.A.B wrote:
Braddock wrote:
deeznutz1245 wrote:
It matters not, he could have done more.
http://ett.arts.uwo.ca/rump/assets/maps/mainmap.jpg
That map forgot to colour NI differently

It's a map from the future.

Last edited by Braddock (2008-09-26 18:17:30)

2008-09-27 08:09:02

#23

CameronPoe: Member; +2,925|6974

topal63 wrote:
CameronPoe wrote:
From poorest nation to second richest nation to Luxembourg within Europe. I will at least take heart in one thing: we can never have it as bad as we used to. Having said that, I feel sorry for all those struggling at the moment. Still haven't seen a blatant manifestation of a recession yet I must say (mostly because the only people losing jobs at the moment are Polish).
What do you do?

If you're in the health care industry I doubt you'll feel the same level of effects?
If you're working for a Public or Private power company - basically the same thing as above?
Or maybe you're working in some other service industry that has a tendency to remain consistent (has a regular cash flow: insurance or what not)?

I'm an engineer. I work for the Technology and Standards division of Ireland's High Voltage Electrical Transmission System Operator but I'm soon moving to the Power System Operations division (where I will be trained to work in the National Control Centre - the 24/7 operation keeping the country's lights on). When it comes to cutbacks the last thing to get the chop will be the electrical infrastructure of the country - it's vital for investor confidence. We are also currently understaffed and people with the specific experience required to take on meaty roles are extremely hard to come by. We mostly have to go poaching people from New Zealand, Australia, South Africa and the UK.

2008-09-27 11:37:14

#24

FEOS: Bellicose Yankee Air Pirate; +1,182|6830|'Murka

Interesting that last night in the debates, it was mentioned that Ireland's 11% business tax was what helped bring so much of the commercial sector to Ireland. As compared to the US's base 35% business tax.

And I thought my Irish friends here were telling me how evil it was to have lower taxes on business than on the citizenry. Must've misread or something...

“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular

2008-09-27 12:28:03

#25

CameronPoe: Member; +2,925|6974

FEOS wrote:
Interesting that last night in the debates, it was mentioned that Ireland's 11% business tax was what helped bring so much of the commercial sector to Ireland. As compared to the US's base 35% business tax.

And I thought my Irish friends here were telling me how evil it was to have lower taxes on business than on the citizenry. Must've misread or something...

You did indeed misread:

CameronPoe wrote:
No: corporations and rich individuals are separate issues. Corporate tax != Income tax.

"This is pretty damn pathetic.....Wounded soldier refused a hotel room" thread.

Last edited by CameronPoe (2008-09-27 12:28:26)

BF2S Forums Irish economy goes into recession

CameronPoe wrote:

ELITE-UK wrote:

CameronPoe wrote:

FatherTed wrote:

ELITE-UK wrote:

CameronPoe wrote:

usmarine wrote:

CameronPoe wrote:

usmarine wrote:

CameronPoe wrote:

CameronPoe wrote:

ELITE-UK wrote:

CameronPoe wrote:

deeznutz1245 wrote:

jsnipy wrote:

deeznutz1245 wrote:

FatherTed wrote:

ELITE-UK wrote:

CameronPoe wrote:

ELITE-UK wrote:

deeznutz1245 wrote:

jsnipy wrote:

deeznutz1245 wrote:

Braddock wrote:

deeznutz1245 wrote:

jsnipy wrote:

CameronPoe wrote:

M.O.A.B wrote:

Braddock wrote:

deeznutz1245 wrote:

topal63 wrote:

CameronPoe wrote:

FEOS wrote:

CameronPoe wrote:

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