What a depressing day ....

R

RMCF

Registered User
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Listening to various radio and news reports today I have never been so worried about the state of this country.

It was doom and gloom in overdrive.

If its not tax, tax, tax, its 60days before going bust, or IMF this, ECB that.

If half of what I heard today comes to pass, this country is screwed for many years to come.
 
I used to listen to the Liveline podcasts

You'd want to slit your wrists after listening to them.

Such misery
 
Guys, this recession is a doddle compared to life here during the 50s,60s,70s,80s and even some of the 90s.

This is normal for Ireland. No need for the XXXXXXXXXXXXXXXXXXXX, slitting the wrist etc
 
And we have a storm coming today to cheer us up!

Seriously though, yeah it's all so depressing. But i'm now counting my blessings...I'm just so glad that I'm healthy and and daughter and my family are healthy. Lets try to look at the positives wherever we can! Otherwise we'd all go mad.
 
Console yourselves with this: I remember when I worked in Dublin around '93/'94 that a few people were losing their jobs. Things weren't great but people weren't panicking by any stretch as far as I remember. We all just got on with it - maybe there was mayhem and misery all around me that I was oblivious to but I don't think so.

Unemployment then, was actually nearing 16% - more than today.
 
I don't listen to the radio anymore, I only ever listened to it on the way and from work.

I now have Jedward on loop. It cheers me up.

DISCLAIMER: I don't have Jedward on Loop. Although, they do cheer me up.
 
Leper said:
Guys, this recession is a doddle compared to life here during the 50s,60s,70s,80s and even some of the 90s.
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I think the big difference this time around is that people have had a taste of a better life and will miss it a lot more than if they had never had it in the first place. In the 1980s things went from bad to really bad and people just got on with it. Now we are being dropped from thinking we were the richest people in Europe worthy of the big spending spree we went on - back to the reality that we've been stupid, overspent, lost the run of ourselves and got ideas above our station - we know it and the international community knows it - and it's not a very nice feeling.
 
IMO the difference is that we all have big mortgages hanging over us, in some cases requiring both partners to work to make ends meet. AFAIK this wasn't the case in the '80s, at least not to the same extent.
 
DB74 said:
IMO the difference is that we all have big mortgages hanging over us, in some cases requiring both partners to work to make ends meet. AFAIK this wasn't the case in the '80s, at least not to the same extent.
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+1.
Not just mortgages, its high levels of personal debt - the credit bubble we have experienced was not the case in the 80s.
 
DB74 said:
IMO the difference is that we all have big mortgages hanging over us, in some cases requiring both partners to work to make ends meet. AFAIK this wasn't the case in the '80s, at least not to the same extent.
Click to expand...

This also means that our children are being brought up by people in creches. At least in the 80s the young children got to see a lot more of their parents. The impact of this has yet to understood.
 

But the difference then was there was virtually no negative equity. People had relatively small mortgage repayments as the banks were alot more conservative in what they gave people. I bought my first house in '94 (for €55K) and it was a big struggle to get a loan!
 
Leper said:
Guys, this recession is a doddle compared to life here during the 50s,60s,70s,80s and even some of the 90s.

This is normal for Ireland. No need for the XXXXXXXXXXXXXXXXXXXX, slitting the wrist etc
Click to expand...

Agree with this. Its people constantly talking the country down that is making things even more depressing!
I may have more personal debt than I did in the 80's but at least I can still put food on the table!
 
Maggs065 said:
.. as the banks were alot more conservative in what they gave people.
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That's cos they couldn't sell bonds to Roman Abramovich to fund mortgage sales .

This attitude is generational. My father grew up in a poor part of a poor Ireland and had to work hard to get an education to get a job. As he was the eldest, he had to look after younger brothers when they came to Dublin for work.

He chose to pay off the mortgage on our family home in 10 years. Not cos he could easily afford to, but because he had a visceral distaste for debt.

That attitude is now part of my DNA. I became a customer of Access, later Mastercard, in 1987 and have yet to pay them any interest.
 
DB74 said:
IMO the difference is that we all have big mortgages hanging over us, in some cases requiring both partners to work to make ends meet. AFAIK this wasn't the case in the '80s, at least not to the same extent.
Click to expand...

Alot of our problem now is perception. People won't take certain jobs, don't want to let go of certain luxuries, and claim that things like cutting out Sky TV and bringing lunch to work are sacrifices.
My mother had to leave school at 14 to work and hand up her wages to help pay for her brothers education, my father had to leave at 13 to work at home because he was the youngest and the older boys had emigrated. Its not that long ago when people had very basic means, but would not consider themselves poor. Now we are all banging on about the dire straights we are in, but surely it's time for a reality check.
My parents enjoy talking about the past because they have alot of fond memories, and they are both positive about the future, it's not a case of moaning about what you had, it's time now to concentrate on building slowly again individually.
It might sound idealistic of me, but it sounds better than the alternative.
 
MrMan said:
Alot of our problem now is perception.
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My monthly mortgage, car loan, personal loan & childminder payments are very real.

And if I lose my job and have to stop paying one or other of the loans then the letters I receive from the bank will also be very real.
 
truthseeker said:
+1.
Not just mortgages, its high levels of personal debt - the credit bubble we have experienced was not the case in the 80s.
Click to expand...

I agree with this and DB74, things are a bit different now. People are under more pressure, 2 spouses working and higher mortgages.

Anyway just cos people got on with it and didnt have cafe lattes etc back then doesn't mean that it's fine and dandy to back in time to 80s style emigration, health service etc . ..what annoys me most is how our wealth was squandered. We could have improved our country instead of now going backwards. I don't accept that it's just the normal way of things that Ireland is going to have a bad economy and low standard of living .. . .we were as rich as hell and squandered it. Maybe because someone had that attitude and decided, 'may as well live in luxury and spend while we can' instead of actually having some kind of longer term vision for this country.
 
Caveat said:
No offence, but aside from the mortgage were they all necessary?
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No offence taken - I take your sanctimonious point on board

Childminder: essential - not allowed bring the kids into work unfortunately

Car Loan: necessary IMO. Finishing early 2011 though which is a relief. Won't be changing the car obviously.

Personal Loan: Have to hold my hand up and admit that I'm a bit annoyed at this one myself TBH.

I'm just glad that I don't have any credit card debt
 
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