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Thread: Look on the bright side about the Irish economy

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    Default Look on the bright side about the Irish economy

    Hi all,

    I'm not exactly a new user to the website, having lurked it the past few weeks and read the threads with interest whenever they turned up in Google search results and the like.

    The 'Economy' sector interests me specifically and its been fascinating to see the spread of views on the future of the Irish economy.

    From what I can see, Ireland's vital statistics this yerar have been like this:

    Export growth of 9% on the same months last year.

    Import growth of 6% on the same months last year.

    Car-Sales growth of about 7% since the beginning of the year.

    Overall retail sales growth of now 9.9% on last year(a six year high)

    Jobs growth of 3.8% in the first quarter of the year. This is equivalent to the US generating 5.5 million jobs in the first quarter compared to last year. Not shabby.

    An unemployment rate which remains broadly unchanged at 4-4.75%, with long-term unemployment a negligible 1.3% and a youth unemploymet rate of 5.9% the lowest in the EU.

    The Industrial production/Turnover indices published by the CSO trade firmly above thetrend set in 2006, a year in which our GDP grew by 5.7%

    Facts and truths like these have been routinely highlighted by on this site, and yet have been regularly ignored and attacked by some quarters on this site. I think this is unfair and call on posters to recognise the exceptional growth of our economy and to stop criticising posters lwho comment on that.
    Private profit for public gain!

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    P.ie doesn't tend to allow threads about individual posters.
    Happiness is a dry martini and a good woman … or a bad woman.
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    Default Re: Lay off freedomlover!!!!

    Quote Originally Posted by Ard-Taoiseach
    Hi all,

    I'm not exactly a new user to the website, having lurked it the past few weeks and read the threads with interest whenever they turned up in Google search results and the like.

    The 'Economy' sector interests me specifically and its been fascinating to see the spread of views on the future of the Irish economy.

    From what I can see, Ireland's vital statistics this yerar have been like this:

    Export growth of 9% on the same months last year.

    Import growth of 6% on the same months last year.

    Car-Sales growth of about 7% since the beginning of the year.

    Overall retail sales growth of now 9.9% on last year(a six year high)

    Jobs growth of 3.8% in the first quarter of the year. This is equivalent to the US generating 5.5 million jobs in the first quarter compared to last year. Not shabby.

    An unemployment rate which remains broadly unchanged at 4-4.75%, with long-term unemployment a negligible 1.3% and a youth unemploymet rate of 5.9% the lowest in the EU.

    The Industrial production/Turnover indices published by the CSO trade firmly above thetrend set in 2006, a year in which our GDP grew by 5.7%

    Facts and truths like these have been routinely highlighted by freedomlover, and yet have been regularly ignored and attacked by some quarters on this site. I think this is unfair and call on posters to recognise the exceptional growth of our economy and to stop attacking posters like freedomlover who comment on that.
    Could you please define what you mean by ´growth`, and explain why it is good? Tia!

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    What I mean about growth is that the CSO has recorded an increase in thos levels of activities, as have other organisations like SIMI for the car-sales figures.

    I would say growth in exports is good as it rebalances the economy away from the building trade.

    Growth in retail sales is good as it drives expansion of shops and supermarkets and provides jobs.

    Growth in the economy in general leads to higher tax revenue and allows our government to raise social welfare payments, pensions, disability benefit and so on. it also allows us to spend on infrastructural programmes with greater confidence.
    Private profit for public gain!

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    Quote Originally Posted by Ard-Taoiseach
    What I mean about growth is that the CSO has recorded an increase in thos levels of activities, as have other organisations like SIMI for the car-sales figures.

    I would say growth in exports is good as it rebalances the economy away from the building trade.

    Growth in retail sales is good as it drives expansion of shops and supermarkets and provides jobs.

    Growth in the economy in general leads to higher tax revenue and allows our government to raise social welfare payments, pensions, disability benefit and so on. it also allows us to spend on infrastructural programmes with greater confidence.
    Do you define growth differently to development?

    Why is big favourable to better?

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    Well, growth is part of development as it allows for deeper and more sophisticated things to happen. Look at areas of technology such as the internet and mobile telephony, the growth of uptake and the increase of size in these areas led to a much richer level of services and opportunities in these areas.

    Similarly, the growth of sectors of our economy allows us the space and possibility to do much more. What would not have been justified in a market of €1 billion and 100,000 customers becomes viable in a market of €3 billion and 300,000 customers. This means our economy becomes more broadly based and less exposed to sector-specific risks.

    On the topic of bigger being favourable to better, I am of the opinion that in most cases you can have both. I mean, our economy and population are larger than 20 years ago and haveecome better: the labour force is more educated, social mobility has improved, economic opportunity has widened, consistent and relative poverty have declined, life expectancy and public health have both improved and areas of discrimination once common are a thing of the past.
    Private profit for public gain!

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    More brightness about the Irish economy. The office market and the level of take-up in office space is a broadly accurate indicator of business confidence and activity. And what take-up! These two reports confirm the exceptional strength of Dublin's office market and underline the view that growth in the economy will be quite fast this year:

    http://www.myhome.ie/advice_news/articl ... ws_id=2220

    http://www.myhome.ie/advice_news/articl ... ws_id=2192
    Private profit for public gain!

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    Quote Originally Posted by Ard-Taoiseach
    Well, growth is part of development as it allows for deeper and more sophisticated things to happen. Look at areas of technology such as the internet and mobile telephony, the growth of uptake and the increase of size in these areas led to a much richer level of services and opportunities in these areas.
    What exactly does this mean? BTW, did you miss Motorola closing down?
    Quote Originally Posted by Ard-Taoiseach
    Similarly, the growth of sectors of our economy allows us the space and possibility to do much more. What would not have been justified in a market of €1 billion and 100,000 customers becomes viable in a market of €3 billion and 300,000 customers. This means our economy becomes more broadly based and less exposed to sector-specific risks.
    Our economy is based on transfer pricing and property. You mention below that commercial property is healthy. This is little consolation to homeowners saddled with huge debt. Are people like yourself trying to shift the hype over to commercial property? Should we all be getting in early and buying second offices in the sun? How about actually building real value that can be exported?
    The future saviour of the Irish Economy: Charles Darwin

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    There is no hype in commercial property. Its there, growth in take-up, rents and construction meaning that positive commentary is fully grounded. If the coverage was as positive as it is now, but with no growth, I would agree with you HanleyS and say it was hype, however, an awful lot of companies are buying up an awful lot of space and if that isn't an indicator of economic strength, I don't know what is.

    I am sad that Motorola closed down and take this opportunity commiserate with the 300 odd people who lost their jobs. However, Motorola's decision, like Pfizer's had much more to do with the deficiencies within the company and not with Ireland being an unattractive location.

    Look at Nokia's recent figures, they've ramped up market share and squeezed rivals like Motorola, if that didn't happen, we wouldn't be talking about this closure now.

    pfizer scaled back its plants because a blockbuster drug failed in its trials and led to €15 billion in future revenue pa being written off. With Lpitor, its bestselling $11billion drug coming out off patent protection Pfizer had to find savings fast. Again, if that drug sailed through FDA procedures we wouldn't be talking about this closure, in fact Pfizer was planning to produce 40% of the drug right here.
    Private profit for public gain!

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    Quote Originally Posted by CookieMonster
    P.ie doesn't tend to allow threads about individual posters.

    What on earth are you taking about? Its the economy stupid!

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