Brian Cowen's claim that Irish living standards will fall by 10% have discounted by financial experts who say it will most likely be a 30% drop.
"In short, those who did well from the boom are not being made to pay for its consequences"
"The real pain of political self interest, incompetence,, negligence and laziness will be kept clear of those who left the Irish economy unprepared for the severe downturn forecast in 2009"
UTV News - Ireland's pain begins
Not many people saddled with mortgages can afford a 30% fall. Defaulting will begin to increase so.
And the article was spot on in its analysis of the current downturn
Sure the people at the very top many of who caused this would hardly even notice a 30% drop.
As for the rest can't they eat hay or cake whichever they prefer !
What about a new benchmarking-this time against the economies in the EU.
As today is a 'privilege' day for our hard working public servants they wont be using the internet today!
A lot of peoples have already dropped by 60% after losing their jobs,and by the end of the year there will be a lot more.
A champion of the people emerges with the age-old and appealing promise of "something for nothing" - to be financed through every-increasing taxes. Supply and demand are thrown out of gear - the overhead goes up; the effective use of human energy goes down; the standard of living is lowered because money cannot buy wealth that is not produced.
WEAVER, HENRY GRADY,
Isn't this what was announced in the budget, with the benchmarking to be completed by July?Originally Posted by birthday
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