AIW
I wouldn't dream of implying that the CSO are anything but professional and I think they do an excellent job. But in the context of a discussion about personal finances, the quoted AIW is being bandied about as if everybody is earning 28K a year. If the standard Deviation was published with the AIW report then it would be pretty clear that there is a huge gap between the rich and the poor.
I realise that industrial wages are not just about production operatives but given the very large (though shrinking) number of these workers, who definitely don't earn much more than 16-17K tops, they are a section of society that cannot be ignored, particularly when it is this section of society who are most likely to develop the very debt problems we are discussing here. Add hotel workers, cinema employees, sandwich bar staff, and all the other badly paid service jobs to the mix and you have a very significant number of citizens who fall well below the AIW.
While I realise that anyone can get into debt, cash flow plays a significant part in getting out of it and cash flow is simply not available to low earners who are suffering from massive credit card debt, car payments and 100% mortgages (The CU "deposit" trick is practised widely) The 28K figure should not be used when discussing this particular type or earner as it has no relevance and will lead to incorrect conclusions about the individual's ability to service consumer debt.
And Skinflint, it was John Pilger, not Robert Fisk, but you had a valid point. I'm only telling as I see it around me. I personally think its time to start teaching financial responsibility in school, may be instead of Irish, I know which one I'd prefer my kids to learn.