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Thread: Death spiral?

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    Default Death spiral?

    So it seems lending by our bankrupt banks keeps declining year after year.
    What's left of the domestic economy is imploding before our eyes.
    Taxes heaped upon taxes see people saving their money for the inevitable new taxes FG/Lab are dreaming up for the next budget.
    Consumption is falling and it looks like the country will slowly grind to a halt.

    Household lending continues to fall - The Irish Times - Thu, Jan 31, 2013


    What say you?

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    Quote Originally Posted by Fr.Ted Crilly View Post
    So it seems lending by our bankrupt banks keeps declining year after year.
    What's left of the domestic economy is imploding before our eyes.
    Taxes heaped upon taxes see people saving their money for the inevitable new taxes FG/Lab are dreaming up for the next budget.
    Consumption is falling and it looks like the country will slowly grind to a halt.

    Household lending continues to fall - The Irish Times - Thu, Jan 31, 2013


    What say you?
    Does that mean that Households are paying off more debt than they are taking on?

    The Irish are one of the most overborrowed nations in the World!

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    Doooooom!

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    Politics.ie Member EoinMag's Avatar
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    Quote Originally Posted by Bobcolebrooke View Post
    Does that mean that Households are paying off more debt than they are taking on?

    The Irish are one of the most overborrowed nations in the World!


    You're not with the narrative man, it's all the nasty banks fault.
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    Politics.ie Member statsman's Avatar
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    Quote Originally Posted by Fr.Ted Crilly View Post
    So it seems lending by our bankrupt banks keeps declining year after year.
    What's left of the domestic economy is imploding before our eyes.
    Taxes heaped upon taxes see people saving their money for the inevitable new taxes FG/Lab are dreaming up for the next budget.
    Consumption is falling and it looks like the country will slowly grind to a halt.

    Household lending continues to fall - The Irish Times - Thu, Jan 31, 2013


    What say you?
    Death spiral? A bit over-dramatic. Adjusting from an unsustainable bubble economy was never going to be pleasant. Or short.
    Put a thief among honest men and they will eventually relieve him of his watch. Flann O'Brien

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    Quote Originally Posted by statsman View Post
    Death spiral? A bit over-dramatic. Adjusting from an unsustainable bubble economy was never going to be pleasant. Or short.
    Yea, I know, a bit over dramatic ok.
    According to some reports though we're saving up to 14% of disposable income while the 'norm' in most other countries in the western world is around 8%.
    It's not good for the domestic economy.
    We need to get back to some type of a normally functioning economy.

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    Politics.ie Member Mr. Bumble's Avatar
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    Quote Originally Posted by Fr.Ted Crilly View Post
    According to some reports we're saving up to 14% of disposable income while the 'norm' in most other countries in the western world is around 8%.
    It's not good for the domestic economy.
    We need to get back to some type of a normally functioning economy.
    Wrt savings, perhaps impose a graduated tax on savings thus encouraging people to invest rather than save.
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    Quote Originally Posted by Fr.Ted Crilly View Post
    Yea, I know, a bit over dramatic ok.
    According to some reports though we're saving up to 14% of disposable income while the 'norm' in most other countries in the western world is around 8%.
    It's not good for the domestic economy.
    We need to get back to some type of a normally functioning economy.
    If we don't save how will we have adequate pensions?

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    Politics.ie Member statsman's Avatar
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    Quote Originally Posted by Fr.Ted Crilly View Post
    Yea, I know, a bit over dramatic ok.
    According to some reports though we're saving up to 14% of disposable income while the 'norm' in most other countries in the western world is around 8%.
    It's not good for the domestic economy.
    We need to get back to some type of a normally functioning economy.
    I'd agree that over-saving, however understandable, isn't a help. What we need first is some kind of agreement as to what a 'normally functioning economy' might look like.
    Put a thief among honest men and they will eventually relieve him of his watch. Flann O'Brien

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    Quote Originally Posted by curiousorange View Post
    Doooooom!
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