The R Word

[mypost]

It is probably worse now than ever before but I wouldn't be convinced the opposition would change it if they were in power.

Whether they would or not is immaterial. If the current joblot are not performing up to scratch, you have a vote at election time, where you have the opportunity to punish them. The only thing they're afraid of.

Then we see if a change of government leads to a change of policy, which in turn leads to a change in fortune. The current government have been a disaster since taking office 18 months ago.

[pete]

I saw a bit of Q&A last night & attempt by Mary Hanafin to defend the government was woeful. She tried to suggest the government was acting to economic situation & that was external factors driving it down. Nell McCafferty destroyed her with biting comments.

[OneRedArmy]

Neil McCafferty destroyed her with biting comments.If it was Neil McCafferty it was more likely to be a poorly timed knee high tackle that destroyed her....

Suggest it was Nell McCafferty.

Both from Derry ;)

[NeilMcD]

Nell Mc Cafferty was a joke last night. Offered nothing. Was like a child who cannot understand what is going on and tries to make a joke of everything.

One of those moments that if you enter a debate with her, you both come out looking like fools. What do they say, never debate with a fool.

[pete]

I heard at the weekend suggestions that we heading for 7.5% unemployment. Can't find link but if true that is a massive turn around.

[NeilMcD]

I think I live in a little bubble as when the times were great according to everybody I did not know anybody who was making a fortune and now I don't know anybody who is stone broke.

So anecdotally in my mind there was never a boom and now there is no crash. :)

[Reality Bites]

If you are not Scared - You should be now!

[MOD EDIT: Read the rules (http://foot.ie/showpost.php?p=431900&postcount=2).]

[pete]

If you are not Scared - You should be now!


Please link source.



The report predicted that deficit will continue into 2009 and that stabilising it would require severe cuts in spending and tax increases, which will add to the downturn.

It predicts unemployment will soar to an average of 8% next year, compared with a figure of 6.1% estimated for 2008.

The body originally forecast GNP would grow by almost 2% next year but revised its estimate and is now predicting it will fall by 0.7%.


Apparently we are to go from 6% growth in 2007 to -1.3% in 2008. By any standards a massive turnaround. Last I heard budget deficit heading for 9 billion. Going to need a slash & burn approach to the budget. Seems the National Pay talks were premature as no sign of improved finances in the next 2 years now.

American survey (http://money.cnn.com/2008/10/06/news/economy/depression_poll/index.htm?postversion=2008100615) indicates massive pessimism over there.


Nearly six out of ten Americans believe another economic depression is likely, according to a poll released Monday.

The CNN/Opinion Research Corp. poll, which surveyed more than 1,000 Americans over the weekend, cited common measures of the economic pain of the 1930s:
* 25% unemployment rate;
* widespread bank failures; and
* millions of Americans homeless and unable to feed their families.

In response, 21% of those polled say that a depression is very likely and another 38% say it is somewhat likely. The poll also found that 29% feel a depression is not very likely, while 13% believe it is not likely at all.

[dfx-]

Then we see if a change of government leads to a change of policy, which in turn leads to a change in fortune.

To quote ORA, if only things were that simple..