Is there a Recession going on at all?

[Orangemac]

There has been a downturn both in Ireland and UK for about 3/4 years now but how real is it?

Obviously gov revenues are down and deficits are up. Unemployment is up a lot in the South and a bit in the North but everywhere you look there are few signs of any real downturn.

For anyone who has lost their job the recession is real but there is no shortage of new cars about North and South, weddings are still as big as they were, everywhere you go people have IPhones/blackberries and every child in the country has the latest games/gadgets. The fleadh in Cavan recently had massive crowds and every major concert seems to be sold out.

Everyones income is down a bit but is this recession not really hitting people the way the one in the 1980s did?

[laoislad]

House cleaners are doing a roaring trade I hear.

[Tony Baloney]

House cleaners are doing a roaring trade I hear.

[screenexile]

There has been a downturn both in Ireland and UK for about 3/4 years now but how real is it?

Obviously gov revenues are down and deficits are up. Unemployment is up a lot in the South and a bit in the North but everywhere you look there are few signs of any real downturn.

For anyone who has lost their job the recession is real but there is no shortage of new cars about North and South, weddings are still as big as they were, everywhere you go people have IPhones/blackberries and every child in the country has the latest games/gadgets. The fleadh in Cavan recently had massive crowds and every major concert seems to be sold out.

Everyones income is down a bit but is this recession not really hitting people the way the one in the 1980s did?

Go chat to someone who has lost their job and their house and see how the recession is . . . people are getting it tight because you are a middle class person everyone you know is middle class and most likely affected but not hugely but you can be sure a number of people are feeling the pressure and it's unlikely to ease in the short term!

[Capt Pat]

Somethings you haven't taken into account are people don't like to boast about lising money or not having it. Also there are the haves and have nots, the haves dish out the good jobs business and resources amongst themselves and the have nots can fcuk off to London or Glasgow or go on the dole. The haves have always had money for big cars and foreign holidays etc. That is the way this country works recession or not.

It is an atrocious way to run a country but that is the way it is.

[nrico2006]

Two words - credit cards.

[Canalman]

About 60% of the population is only slightly affected by the recession (their house values might have fallen).
In Dublin for example, Saturday nights are still busy whereas the rest of the week is very quiet. Not so long ago it was a 7 night a week party town.

I'd say 25% of the population are rightly screwed with another 15% struggling.

The North imo is an oddity with its massive exchequer subsidies. Watching BBC last night and a section about military compulsory redundancies and I think there is a cold chill coming your way shortly.

[HiMucker]

Sky TV subscription is higher amongst the unemployed than it is amongst the working and middle class, go figure.  But there is difinetley and recession I just dont think it has hit rock bottom yet.  There is a whole generation of 17-20 year olds with no jobs to look forward to.

[Bingo]

House cleaners are doing a roaring trade I hear.

I came in to post that!

Retail spending is well down, easy to see, as is social spending ie pubs.

People are putting more value to what they spend money on, it was daft in a few years. They say the Pennys, Heatons, Dunnes etc will actually do better now in recessionery times as will Mcdonalds, Cinema's etc. People look for value for money again eg Car scrappage scheme has masked the number of new cars and also the fact that people hadn't changed cars in years.

I only see it worsening. Mind you had a client said he advertised for a sales job in Donegal and got 2 replies, not even worth interviewing. One of the big problems is that previously low paid employees now on the social get a taste for it and all its benefits and won't rejoin the labour force at low rates of pay.

[whiskeysteve]

We are a long way off the bottom.

The recession is deepening into a depression. Granted there will be peaks and troughs along the way but where is the soild source of growth and credit to pull us out?

What do people think will happen as the dollar continues to collapse in value, oil price rises and the eurozone collapses?

North and South there are fat public sectors which even seen a real trimming yet. The Croke park agreement will be torn up within a year.

There are thousands of people who are clinging onto their businesses and assets and putting a brave face on things is seen as essential.

Bottom line - there can be no recovery to the global economy (and certainly not to Irelands) until there is debt forgiveness on a massive scale. Until that time we will grind down into penury.

[Rossfan]

Jasus you're some profit of doom.
Debt forgiveness means that someone ( usually pension funds/taxpayers/bank depositors/other savers ) have to forego some of their money so that someone else doesnt have to pay what they owe.
The oul' right wing IBEC cliches about public sector fat and cuts have been tried for the last 3 years in the 26Cos and hasnt been a magic bullet.
Th Croke Park agreement won't be torn up.
The 26 Cos. is meeting its bail out targets and is on track .... to something ... hopefully better days when the "correction" of the stupidity visited on us by AhernHarneyMcCreevyBankersDevelopers has been completed.
Meanwhile exports are rising as we go back to what an economy should be doing .. producing stuff and selling it... not borrowing lorryloads of money to buy property at about 5 times what it should have been taking the economy and pay rates into account.
By the way I AM NOT A FG SUPPORTER    

[armaghniac]

Life goes on for most people. You hear of mortgages being in arrears, but 96% of houses either have no mortgage or people are payign their mortgage. Now some of these are getting it tight, but most people are not.
Likewise most people are working and in some sector like IT there is a shortage of people and salaries are rising, while in others like agri-business it is business as usual.

I was going to start a thread with this title after the Armagh Tyrone game in Omagh. This was well attended, yet I passed on shop (Spar) which closed its food counter and another chip shop that was turning away people. These "businessmen" were not bothered to get in a few students or have someone work another shift to cater to the extra demand that was passing their door. The staff might well have been glad of few extra hours.  This is not the first time I have noticed this type of thing, the entrepreneurial spirit is sadly lacking.

Meanwhile exports are rising as we go back to what an economy should be doing .. producing stuff and selling it... not borrowing lorryloads of money to buy property at about 5 times what it should have been taking the economy and pay rates into account.

Exactly.

[Bingo]

Posted this before on another thread.

Was at an expo show in local hotel about 3 months back. Had it in mind to do a few small jobs round house, specific enough stuff. Left my details with 3 companies/tradesmen and more or less agreed to details with 2 of them.

Have never heard from them since, despite completing their full contact sheets on the day.

Someone else done the work in the end.

[mayogodhelpus@gmail.com]

There has been a downturn both in Ireland and UK for about 3/4 years now but how real is it?

Obviously gov revenues are down and deficits are up. Unemployment is up a lot in the South and a bit in the North but everywhere you look there are few signs of any real downturn.

For anyone who has lost their job the recession is real but there is no shortage of new cars about North and South, weddings are still as big as they were, everywhere you go people have IPhones/blackberries and every child in the country has the latest games/gadgets. The fleadh in Cavan recently had massive crowds and every major concert seems to be sold out.

Everyones income is down a bit but is this recession not really hitting people the way the one in the 1980s did?

I think you must be living in cloud cuckooland, the recession is very real, have been feeling it and its effects for years.

[seafoid]

There has been a downturn both in Ireland and UK for about 3/4 years now but how real is it?

Obviously gov revenues are down and deficits are up. Unemployment is up a lot in the South and a bit in the North but everywhere you look there are few signs of any real downturn.

For anyone who has lost their job the recession is real but there is no shortage of new cars about North and South, weddings are still as big as they were, everywhere you go people have IPhones/blackberries and every child in the country has the latest games/gadgets. The fleadh in Cavan recently had massive crowds and every major concert seems to be sold out.

Everyones income is down a bit but is this recession not really hitting people the way the one in the 1980s did?

I think you must be living in cloud cuckooland, the recession is very real, have been feeling it and its effects for years.

I think the recession is really obvious in Ireland.  The special offers in the shops eg  biscuits with 100% extra free. The butchers offering 5 items for €15. Even if the weddings are still happening the costs have been slashed. 

The prices are down in restaurants. Closed shops and businesses. The property section in the Irish Times is down to half a page.
Emigration.
Of course many people are comfortable but an awful lot are suffering.