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Ireland is getting closer to financial Armageddon.

Cassandra Syndrome

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Employment passes 2.3 million for first time
Numbers grow by 2.4% in third quarter

Employment in the Irish economy has surpassed 2.3 million for the first time.

According to the Central Statistics Office (CSO), the number of people employed here grew by 53,700 (2.4 per cent) to 2.32 million in the third quarter of 2019.

This is around 80,000 higher than the boom time high of 2.23 million recorded in the fourth quarter of 2007 and reflects the current strength of the economy.

However, the CSO cautioned that the State has a bigger population now and a larger workforce than in 2007 and that the employment rate – the proportion of adults with jobs – is still below the pre-crash level.


This is very much the sticking point, high immigration has allowed people to fill very low skilled jobs in the market, however we are still below pre 2007 levels for actual real jobs for the percentage of the economy.

Fine Gael has created a boom-bust situation that will see an Irish collapse like no other before.

Our Social Welfare spend is projected to be at a bursting 21 Billion next year

€21.2 billion to be spent on Social Welfare in 2020


And it gets worse!

More than half the council’s 24,400 tenants are behind on their rent, with 20 per cent more than six months in arrears.
The council is owed more than €32.8 million by tenants, the largest sum ever owed to any local authority in unpaid rents, and an increase of more than €10 million over the last decade with €19.5 million owed in 2009.



This is just 1 council who are unable to collect rent from their tenants.



Council tenants are facing rental increases of an average of €160 annually next year. Fine Gael councillor Danny Byrne, however, said these rent increases would not be needed if the council collected the rent it was already owed.
‘Grossly unfair’

“The rent arrears figure of almost €33 million is staggering. All the increases proposed in the budget – toll charges on hard-pressed motorists, parking charges, rent increases – none of these would be necessary if the council were competent in collecting rents as they fall due,” he said. “It is completely unfair to charge extra rent to people who are paying whilst others do not pay.”


Ireland is heading down a path of doom.
 

Olli Rehn

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Capitalism is an endless cycle of booms and busts. Has very little to do with FG.
What goes up, must come down.
I doubt that we are close to another bust.
People forecast the end of the Euro..."any day now"... for many years now- and we all still use the currency.
 

Tadhg Gaelach

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As long as the US economy stays out of recession and as long as the EU keeps printing money, the 26 country free state will be able to stay more or less as it is now. But, we are incredibly exposed to any of that happening. A spike in interest rates due to a liquidity shortage would kill us very fast. There's pretty much no risk of interest rates rising because of global growth, but the risk of a liquidity crisis is always there. The Fed was caught short about two months ago and US banks found themselves paying over 10% on repo for a few days.
 
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Ireland is 'Sweden in the rain'. Where scroungers vastly outnumber the productive elements in the economy.

And a scrounger may include Multinationals, corrupt politicians, long-term dole heads, career single mothers, runaway fathers, overpaid Civil Servants, NGO's, and everybody else who costs the State.
 
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