Eurofan said:A great deal of subject mater in 'Great Financial Debates' seems very pessimistic on the potential future of the Celtic Tiger for a wealth of various and intertwined reasons from property bubbles to reliance on the construction sector, exports controled by foreign owned multinationals etc. etc.
For the purposes of this debate lets assume there's trouble ahead. How do you cope with it?
Other than the obvious things like paying down as much debt as possible now what would those who may have been through a recession before recommend? What kind of careers survive recessions? (other than public servants).
Would it be possible to make a good set of decisions now and not only survive a recession but be in a situation to thrive?
To quote the simpsons.. "..but it's a golden age for the repo-business.. one which will never end.."Afuera said:The repossession business might have a bright future
Eurofan said:What kind of careers survive recessions? (other than public servants).
evan said:if there is a serious recession, does anyone fear violence. What Im saying is does anyone fear that people who did well out of the celtic tiger and preserved their wealth might be targeted by people that got burned by it. The reason why I am asking this is that the celtic tiger has been a relatively recent phenomenon and people that started out at the same level 10 years ago maybe at very different levels today. It wasnt a slow process like before where people would have accepted how the person generated their wealth.
Much international business is being conducted in English. I know of a Spanish company importing cars from Germany that uses English as the common language to negotiate things. Another Spanish friend used to have dealings in Tokyo and this again was all through English.evan said:"No but i could see the youth of Ireland bailing out of here on an unprecedented scale. Options throughout the EU are plentiful and much better than the UK/US options of old."
where are those plentiful options? in germany!! france!! poland !!, I don't see them. Any opportunities that crop up there will be swiped up by the more hungry multi lingual eastern europeans than by the mono lingual irish. Irish people always had a great advantage in britain and the US but they don't have that advantage in european countries especially now that it is open to the new EU countries. There may be opportunities to invest in businesses there but that hardly applies to someone who has no capital and has already defaulted on debt in another country.
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