Ireland 'technically' in depression

[socialdemocrate]

Ireland 'technically' in depression - The Irish Times - Wed, May 20, 2009

According to Ernst & Young, ireland is technically in a depression but its all ok appartently cause when things get going again we'll recover better than northern ireland.
why does this not make me feel any better i wonder?

“The island economy is in the eye of an unprecedented economic storm and collateral damage is severe,” said Brendan Lynch, who advised on the report."


"The sluggish nature of the recovery will mean that in many locations in Ireland the recession will have a “generational impact”, bringing severe economic and social hardship to many, Ernst & Young says."

[HughinBandon]

Think happy thoughts, think happy thoughts, think happy thoughts..............

[ballot stuffer]

Recession is a defined economic term, One or more quarters of negative growth depending on who you ask
Depression is not defined. So saying we are technically in depression makes no sense as it is just an arbitry measurement. So sod that, if were are going to label the economy lets keep it upbeat, according to ballot stuffer:"The Irish economy is technically in super-fun-happy-time".

[darkhorse]

depression does not seem to characterise best where we are now...
insolvent i would have thought ... if not bankrupt...
the government simply cannot afford to continue to pay public service wages, pensions, healthcare and social welfare and all the other leaks in their finances
and i would pay no attention to the soothsayers who tell us how soon and how great the recovery will be... we are not going anywhere for 10 years...

[finnharps4life]

******************** sake. depressing seriously i don't think this island works for us, is there any places we could move to? i'm being deadly serious by the way.

[atlantic]

Head toward Asia in the next ten years that's where the wealth will be generated.

******************** sake. depressing seriously i don't think this island works for us, is there any places we could move to? i'm being deadly serious by the way.