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Thread: Is the demise of "BIG" retail bad for Ireland

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    Politics.ie Member Disillusioned democrat's Avatar
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    Default Is the demise of "BIG" retail bad for Ireland

    There's been a lot of "bad" news about the difficulties in the retail sector of late and my feeling is that this is not necessarily a bad thing for Ireland as a whole. It would be devastating for those employed by or invested in the sector, but as a whole - given that 90% of the products shops like HMV, La Senza, etc., sell are imported lifestyle goods and not domestic necessities is this just not a re-balancing of the consumers priorities and an overdue realignment of incomes to outgoings.

    Is there any data out there to indicate if a reduction in this type of "lifestyle commodity" spend is actually bad for the economy as a whole given the fact that it means there's probably an associated reduction in personal debt and trade deficit.
    The more things change....

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    Politics.ie Member Clanrickard's Avatar
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    Quote Originally Posted by Disillusioned democrat View Post
    There's been a lot of "bad" news about the difficulties in the retail sector of late and my feeling is that this is not necessarily a bad thing for Ireland as a whole. It would be devastating for those employed by or invested in the sector, but as a whole - given that 90% of the products shops like HMV, La Senza, etc., sell are imported lifestyle goods and not domestic necessities is this just not a re-balancing of the consumers priorities and an overdue realignment of incomes to outgoings.

    Is there any data out there to indicate if a reduction in this type of "lifestyle commodity" spend is actually bad for the economy as a whole given the fact that it means there's probably an associated reduction in personal debt and trade deficit.
    It is good news. These foreign companies suck the life out of town centres and small family owned businesses. I am delighted to see the back of them.

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    Quote Originally Posted by Disillusioned democrat View Post
    There's been a lot of "bad" news about the difficulties in the retail sector of late and my feeling is that this is not necessarily a bad thing for Ireland as a whole. It would be devastating for those employed by or invested in the sector, but as a whole - given that 90% of the products shops like HMV, La Senza, etc., sell are imported lifestyle goods and not domestic necessities is this just not a re-balancing of the consumers priorities and an overdue realignment of incomes to outgoings.

    Is there any data out there to indicate if a reduction in this type of "lifestyle commodity" spend is actually bad for the economy as a whole given the fact that it means there's probably an associated reduction in personal debt and trade deficit.
    If people do not spend on one thing they will spend on some thing else or save!

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    If we want to turn the economy around then we need to start saving and investing in productive enterprises which will generate a long term income stream.


    But this is Ireland ........
    "Always do right. This will gratify some people and astonish the rest." Mark Twain

    “When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” Napoléon Bonaparte

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    Quote Originally Posted by Clanrickard View Post
    It is good news. These foreign companies suck the life out of town centres and small family owned businesses. I am delighted to see the back of them.

    Do you shop in Tesco or Aldi much ?

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    Politics.ie Member farnaby's Avatar
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    In the case of HMV it's likely that the consumer spend they used to get has shifted to itunes, amazon, netflix etc. - so it's still consumer spending on imports but without the sweetener of local jobs.

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    Quote Originally Posted by SPN View Post
    If we want to turn the economy around then we need to start saving and investing in productive enterprises which will generate a long term income stream.

    But this is Ireland ........
    Our increased savings rate is continuously reported as bad news as are the falling levels of unsecured private debt. It's painful in some ways but surely to the good over the long term.
    “I would rather be exposed to the inconveniences attending too much liberty, than those attending too small a degree of it." - Thomas Jefferson (yeah, I'm aware of the irony)

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    Quote Originally Posted by SPN View Post
    If we want to turn the economy around then we need to start saving ...
    Bullshlt !

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    Quote Originally Posted by Cato View Post
    Our increased savings rate is continuously reported as bad news as are the falling levels of unsecured private debt. It's painful in some ways but surely to the good over the long term.
    Our increased savings rate is an anomaly because included in the calculation is the nett new lending figure. In the current economy that figure is negative - more old lending is being paid down than new lending is being issued - so the paying down of debt to foreign lenders appears as increased domestic savings.
    "Always do right. This will gratify some people and astonish the rest." Mark Twain

    “When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” Napoléon Bonaparte

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    Quote Originally Posted by Bonsai Experiment View Post
    Quote Originally Posted by SPN View Post
    If we want to turn the economy around then we need to start saving and investing in productive enterprises which will generate a long term income stream.


    But this is Ireland ........
    Bullshlt !

    ........ and investing in productive enterprises which will generate a long term income stream.
    "Always do right. This will gratify some people and astonish the rest." Mark Twain

    “When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” Napoléon Bonaparte

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