# Strange dream about devaluation.



## spreadsheet (9 Jul 2009)

I had a strange dream about devaluation last night! Obviously the financial problems of the economy have now seeped under the covers.

I dreamt that during the night, the government pulled on of those 'first in the word' strokes (like the bank guarantee) with no warning, and sent out a press release for us all to read in the papers in the morning.

The release was something like this:

"To deal with the worsening situation with the credit markets and Ireland's subsequent loss of competitiveness in international trade, the government have decided to devalue the currency. However, as this was not possible within the Euro, we have taken the unprecedented step of leaving the Euro at 2am, carrying out the devaluation on the Punt at 2:05 and joining the Euro again at 2:10"

...blah blah thats all I remember.

Quite strange isn't it?


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## Duke of Marmalade (9 Jul 2009)

Let's examine what that would actually mean.

The person with a €500k mortgage would waken to read that their mortgage was now €400k - sweet dreams indeed.

The person with €500k on deposit with the bank would wake up to read that it was now only worth €400K - nightmare.

And of course the problem would be that nobody would believe the latest figures - sure the same dream/nightmare could be repeated any time.  Irish sovereign debt would immediately achieve junk status.


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## so-crates (9 Jul 2009)

Step away from the national debt spreadsheet  you need to get out and find something else to dream about there


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## jhegarty (9 Jul 2009)

Is this how the government thinks up fiscal policy ?


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## spreadsheet (9 Jul 2009)

so-crates said:


> Step away from the national debt spreadsheet  you need to get out and find something else to dream about there



Thats it! I'm absolutely not going to watch Primetime for at least 2 weeks.

Actually when I told a friend about the dream he said 'all dreams are about the dreamer - you yourself are feeling devalued'. 

Makes sense. When I look at my bank account and the state of my own 'budget deficit' I think he's right!


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## wheeler (9 Jul 2009)

jhegarty said:


> Is this how the government thinks up fiscal policy ?


 

'Spreadsheet' is an alias for Brian Lenihan - he's looking for the pros and cons to this idea and what the sentiment of the population might be!


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## Caveat (9 Jul 2009)

wheeler said:


> 'Spreadsheet' is an alias for Brian Lenihan


 
...maybe because of the 'sheet' he spreads around like "We are in control of the economy"


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## Towger (9 Jul 2009)

jhegarty said:


> Is this how the government thinks up fiscal policy ?



No, they don't get the luxury of a good nights sleep do come up with policy. They just make it up on the fly....


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## onq (9 Jul 2009)

Spreadsheet - for some reason I'm reminded of the Eddie Izzard Bond sketch where he asks "Blofeld" where he's from because of his unusual accent.

It goes back and forth for a while, as conversations do in an imaginary car.

Somewhere Bond retorts with "F***ing nutter you are!"

It seemed apt.



http://www.youtube.com/watch?v=jWRBTFlXFCk&feature=related


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