bearishbull
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CCOVICH said:Is there anything new here? Aren't interest rates and our economy's dependency on construction/property been cited as the main threats to our prosperity by anyone who is bearish/realistic about the near/medium-term future of the Irish economy?
Rico said:We need capable management from people like Michael O' Leary build stability going forward.
More accurately, what the economy (or any economy) needs are (multiple) thriving sectors which generate long term employment & preferably a number of these sectors will be competive internationally and be strong exporters which will have a positive effect on the national balance of payments. Minor exceptions aside, this is not what Irish construction sector is about.Rico said:The economy needs drivers whether it is construction,pharmaceutical,IT.
Sure, only 200k work in construction, with countless others indirectly employed, and sure it only represents 60% of the books of the mortgage banks. A drop in the ocean really.Rico said:A slowdown in this sector would not be a catastrophe.
You're half-right.. interest rates are a "problem".. but ask yourself this.. Why are the lowest interest rates since World War II something to be concerned about in a "booming" economy..? Could it be perhaps that the economy is a paper tiger fueled by credit..Rico said:The main problem with our economy is interest rates which we have no control over.
Duplex said:An ERSI report released today suggests that the Irish property market is 'probably a bubble'. They suggest that at current prices an over valuation
of 15% exists. As prices continue to rise its likley that the size of the bubble will increase.
So what happens now?
http://www.bloomberg.com/apps/news?pid=10000085&sid=a0xF9Dyx1aaI&refer=europe
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