Bertie gives "hard times ahead" warning

J

Jaid79

Guest
On the radio today, I heard a brief broadcast regarding Bertie Ahern give a hard times a head warning.

Can anybody shed some light on this, as I dont know the full details?

Jaid
 
Re: Bertie gives warning

Jaid79 said:
On the radio today, I heard a brief broadcast regarding Bertie Ahern give a hard times a head warning.

Can anybody shed some light on this, as I dont know the full details?

Jaid
Click to expand...

What's a "head warning"? Northside slang?

"Watch it there buds, I'm giving you a head warning ..."

The hard times won't know what hit them.
 
Re: Bertie gives warning

Jaid79 said:
On the radio today, I heard a brief broadcast regarding Bertie Ahern give a hard times a head warning.

Can anybody shed some light on this, as I dont know the full details?

Jaid
Click to expand...

All sarcasm aside, there has recently been a considerable drop in a *cough* particular class of asset into which the Irish, in general, are unusually heavily invested. They have typically borrowed high six digit sums to buy this particular class of asset, and the recent upwards bias of the ECB means that repayments on those loans are going to increase by about €250 per household per month. That's what's going to be pulled out of the Irish economy.

Taking a very modest guess on what this'll mean, it'll cause at least €50 million per month to be withdrawn from non-essential consumer spending.
 
Re: Bertie gives warning

Lads,

No northsider here I`m from Louth "Hey":D

Your a funny bunch in here, but a clever bunch I`d assume.

The consumer spending power will reduce greatly and that in its self will have an impact on the cashflow of the country, but if people (Excluding AAM members) where a bit better with managing there money they could of set this cost very easliy. Do you agree?

How much of an effect will Berties Warning have on the economy? We are a fickle lot.
 
Re: Bertie gives warning

Why would one need a warning for something so pleasurable?
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The `head warning` was form Bertie, maybe if it was from his daugher you might not need one :->
 
Re: Bertie gives warning

Jaid79 said:
Lads,

No northsider here I`m from Louth "Hey":D

Your a funny bunch in here, but a clever bunch I`d assume.

The consumer spending power will reduce greatly and that in its self will have an impact on the cashflow of the country, but if people (Excluding AAM members) where a bit better with managing there money they could of set this cost very easliy. Do you agree?
Click to expand...
What on earth makes you think AAM members are good with their money.
I'm more like a latin american country in the mid eighties myself!
 
Re: Bertie gives warning

This humourous little thread brings me back to the "heady" days of the "jazzy plates" episode!:D
 
Re: Bertie gives warning

rock3r said:
They have typically borrowed high six digit sums to buy this particular class of asset, and the recent upwards bias of the ECB means that repayments on those loans are going to increase by about €250 per household per month.
Click to expand...

Assuming a loan of €300,000 and an interest rate increase of 0.25% it's an additional €62.50 per month, not allowing for interest relief.

If rates go up to the previous peak of 4.75% from the low of 2% it will be a cumulative per month increase over the cycle of €687. That's about €100k worth of spending power or quarter of the value of a house.
 
Re: Bertie gives warning

he'll be gone in 6 weeks once he sets up the new government..and Mr Cowen(biffo) as the new boss
 
Re: Bertie gives warning

Given that most people were putting 250 a month into the SSIA for the past 5 years, won't the increases in interest rates be covered by this available money?
 
Re: Bertie gives warning

Also lots of people have fixed interest rate mortgages and it won't affect them.
 
Re: Bertie gives warning

Many peoples' fixed rate will be ending this year and they will be going on to a variable rate. I also read in the Sunday BPost yesterday that many people were stress tested to 4% back when the rates were 2%. Looks like the rates will exceed this!
 
Re: Bertie gives warning

Firefly said:
Given that most people were putting 250 a month into the SSIA for the past 5 years, won't the increases in interest rates be covered by this available money?
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Less than half of the 1.1 million people that joined up for the SSIA were putting the maximum amount of 254 EUR p/m into it. There's little to no wiggle room for the majority of people that were not in the SSIA or were only able to save small amounts in their SSIA accounts.
 
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