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Thread: Irish economy still strong, apparently...

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    Politics.ie Member TheBear's Avatar
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    Default Irish economy still strong, apparently...

    From The Irish Times: (Subsrciption required, unfortunately)
    • The Irish economy is showing no signs of slowing down despite increased inflation, according to new figures published by the Central Statistics Office (CSO).

      Growth was powered by strong consumer spending - the personal consumption of goods and services - which increased by 6 per cent on the same period last year and by capital investment which was 11.1 per cent higher than in the first quarter of 2005.

      Today's figures show that Ireland's GDP rose by 5.8 per cent in the first quarter of the year while GNP increased by 7 per cent in the same period.

    When trying to find non-subscription sources for this story, I came across a story about ISME's calls for action on inflation on BreakingNews.ie. In this second story, ISME seems to either contradict the first report, or to simply ignore its findings.

    Is the end nigh? Are we due a soft landing? How do p.ie users interpret the differences between the two announcements, and what is the course of action the government should follow?
    Heavy words are so lightly thrown.

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    Initially i was sceptical of the ISME announcement as inflation is out of the hands of the government.

    there is only one way to combat inflation - contract the money supply.

    to achieve this you have to use:
    a) monetary policies - issue less money, purchase govt bonds, increase interest rates, none of which the irish govt can do.
    b) fiscal policies - use tax as a method of contracting the money supply.

    a) is out of the govts hands when i ceded monetary control to the ECB and b) is political suicide.

    however, it may be possible to reduce public spending to decrease inflation. this is similar to the US Republican policy of "starving the beast" (as apposed to the democrat policy of "taxing and spending"). however, i think our beast could do with some weight loss as it has grown fat from its bite of the celtictiger (i hate that term!). i would not like to see "starving" ala the US Neocons with the cutting of estate taxes and spending on medicare/medicaid. i would like our money was spent more efficiently, how much of (christ, i'm quoting enda now!) of taxpayers money was squandered on decentralisation, on benchmarking (benchmarking against percieved rather than actual private sector wages), on project overruns (port tunnel, luas, bertie bowl and now the metro), and on promising smartly uniformed dustbin men who bag your trash for you and even wash your car (see simpsons - trash of the titans, my favorite episode!)

    a certain amount if inflation is necessary, even good, for the economy. i take it the ISME would like their sales prices to rise at less than 3.9% as well as their costs.
    Not being able to govern events, I govern myself. -Michel de Montaigne, essayist (1533-1592)

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    Quote Originally Posted by zakalwe
    ...this is similar to the US Republican policy of "starving the beast" (as apposed to the democrat policy of "taxing and spending"). however, i think our beast could do with some weight loss as it has grown fat from its bite of the celtictiger (i hate that term!). i would not like to see "starving" ala the US Neocons with the cutting of estate taxes and ...
    What type of 'speak' is this: it's cool!!
    "Rats as big as Cats"

    J.H.R. and the Power of the Soundbite

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    There is a lot of good news out there thats just not filtering thru.

    See here and here and here and here and here

    There is a lot of decent good news underlaying all our pessimism.

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    Quote Originally Posted by hiker
    There is a lot of good news out there thats just not filtering thru.

    See here and here and here and here and here

    There is a lot of decent good news underlaying all our pessimism.
    We have the be one of the least optimistic nations on Earth. There was a woman in work the other day who was complaining that the water out of the tap was too hot; she said that she returned to Ireland after 15 years and the place was gone mad, and we never had water that hot before....
    "Rats as big as Cats"

    J.H.R. and the Power of the Soundbite

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    Quote Originally Posted by Jippo
    Quote Originally Posted by hiker
    There is a lot of good news out there thats just not filtering thru.

    See here and here and here and here and here

    There is a lot of decent good news underlaying all our pessimism.
    We have the be one of the least optimistic nations on Earth. There was a woman in work the other day who was complaining that the water out of the tap was too hot; she said that she returned to Ireland after 15 years and the place was gone mad, and we never had water that hot before....


    You know Jippo, it might explain our(the PDs) low figures in elections. We only have optimists in our party.

    All the whinging b*stards vote for Lab/SF/FG/FF etc etc

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    May I?

    Quote Originally Posted by hiker
    Quote Originally Posted by Jippo
    Quote Originally Posted by hiker
    There is a lot of good news out there thats just not filtering thru.

    See here and here and here and here and here

    There is a lot of decent good news underlaying all our pessimism.
    We have the be one of the least optimistic nations on Earth. There was a woman in work the other day who was complaining that the water out of the tap was too hot; she said that she returned to Ireland after 15 years and the place was gone mad, and we never had water that hot before....


    You know Jippo, it might explain our(the PDs) low figures in elections. We only have optimists in our party.

    All the whinging b*stards vote for Labour/SF/FG/FF etc etc
    "Rats as big as Cats"

    J.H.R. and the Power of the Soundbite

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    Hear hear. We are in a period of unprecedented prosperity and some fools still want to change the government. Kill the golden goose, why don't cha.
    That's complete nonsense. I disagree with you.

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    Hi gang,

    So some 96% of the population are b*stards (and by logical extension pessimists) then eh?

    Funny that, I wonder will that sentiment be in your election leaflets over the next 12 months or so? It's sure to win you loads of votes!

    Jeez, the self-congratulatory tone of this thread is hard to take - to quote Mayor Quimby, "I need a drink and a shower!"

    Regards,

    Opus.

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    Quote Originally Posted by Opus
    So some 96% of the population are b*stards (and by logical extension pessimists) then eh?
    I thought more of you Opus. The above is a perfectly rubbish statement.
    "Rats as big as Cats"

    J.H.R. and the Power of the Soundbite

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