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The underlying problem is that we attracted those companies here by being a low-cost, low tax economy. Then for some bizarre reason thought that we could become a high cost economy and they would stay here. When did we forget that we took the jobs from people in the USA etc because they were paid more than us? Not those companies are leaving in exactly the same way they came and we have a problem with that. Why? We stole the jobs from someone else and now the next guy is stealing them from us.
The real tragedy is that we didn’t develop an indigenous high-tech manufacturing base (with a few notable exceptions like Trinity Biotech, Elan and smaller companies like Creganna Medical). There is no major economy in the world that does not have a strong high-tech engineering and science based manufacturing sector. Since the Second World War Germany, Japan, South Korea and China have all build their economy in this way. Why did we think offering cheap labour and stealing tax from Germans could was sustainable?
Spot on. I love the last bit!Yeah, this absolutely nails it. All of the competitive advantages we had 10 years ago are gone. And instead of making a concerted effort to maintain those advantages, the government seems to have instead believed their own bullsh1T about our "young educated workforce" and "knowledge economy". Anyone that couldn't see through this vain, self-flattering delusion is probably starting to see through it now.
A friend of my dad's (a doctor in his early 60's) said to me about 2 years ago that the multinationals would never leave because they are too afraid to p1ss off the Irish government. The moment I heard that from a smart, educated professional, I knew we were screwed.
Surely a global recession is going to have a bad impact on demand for oil? I don't see the ever rising prices for oil that you seem to suggest. In fact I would be surprised if oil stays above $100 throughout 2009.guys / gals to be honest oil is going no where but up. 141 dollars this morning and counting. the worlds economies are fallign into recession, we will have stagflation everywhere.
i understand that but the high tech companies wont be as badly affected as they were in 2001 when the dot coms collapsed. we survived that didnt we? and came back stronger
Surely a global recession is going to have a bad impact on demand for oil? I don't see the ever rising prices for oil that you seem to suggest. In fact I would be surprised if oil stays above $100 throughout 2009.
it will but it will take a global recession to kill that demand so it will be a while yet before the back of oil is broken
Wait till we get a few oil strikes on the Atlantic coast, then its happy days again so long as the crustys dont prevent us bringing it ashore.
As the price goes up the cost of extraction becomes less prohibitive.Not an expert on this but the Cost of Drilling and Licensing impediments have kept this scenario as (no pun intended) a pipedream!
Quote:
Originally Posted by ccbkd http://www.askaboutmoney.com/showthread.php?p=657275#post657275
Not an expert on this but the Cost of Drilling and Licensing impediments have kept this scenario as (no pun intended) a pipedream!
As the price goes up the cost of extraction becomes less prohibitive.
Wait till we get a few oil strikes on the Atlantic coast, then its happy days again so long as the crustys dont prevent us bringing it ashore.
Wait till we get a few oil strikes on the Atlantic coast, then its happy days again so long as the crustys dont prevent us bringing it ashore.
why does the government give tax breaks for companies drilling out there when surely the economic pressures involved from global lack of supplies will get companies out there taking a risk anyway ?
Is there any scientific basis for assuming theres nothing major out there to be discovered ? Would that not be the same as saying that every part of it had been drilled/explored ?
ps are we in a recession or not ?
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