Dublin metro has be put on hold until further notice 🥲
Well our economy has been an absolute powerhouse for years now. In Q1 of this year, we were 12% above pre-pandemic levels.
Some slight contraction wouldn’t be that surprising.
What will be interesting is to see the Gen Z’rs who think life is tough, difficult, expensive or unfair right now get their first taste of a full force dickslap in the face of what an actual recession, austerity and wide unemployment can really be like.
Hopefully they never have to deal with it on the scale of other generations, but it’d be interesting for them to have some context on how bad things were.
I think we were the only oecd economy that expanded during the pandemic thanks to the massive demand for biomed and pharma.
ELI5.
Good or bad thing?
Apparently we’re the richest country in the world almost.
And none of us in reality feel any of that. In any sense.
But yet
We’re about to have a recession now and every single one of us will feel the bite of that
How the fuck does this work ?
If this is based on GDP it is useless. Our GDP is pretty meaningless.
If our GNP (or the GNI+) is dropping that is more of an indication we many need to pay attention to.
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Dublin metro has be put on hold until further notice 🥲
Well our economy has been an absolute powerhouse for years now. In Q1 of this year, we were 12% above pre-pandemic levels.
Some slight contraction wouldn’t be that surprising.
What will be interesting is to see the Gen Z’rs who think life is tough, difficult, expensive or unfair right now get their first taste of a full force dickslap in the face of what an actual recession, austerity and wide unemployment can really be like.
Hopefully they never have to deal with it on the scale of other generations, but it’d be interesting for them to have some context on how bad things were.
I think we were the only oecd economy that expanded during the pandemic thanks to the massive demand for biomed and pharma.
ELI5.
Good or bad thing?
Apparently we’re the richest country in the world almost.
And none of us in reality feel any of that. In any sense.
But yet
We’re about to have a recession now and every single one of us will feel the bite of that
How the fuck does this work ?
If this is based on GDP it is useless. Our GDP is pretty meaningless.
If our GNP (or the GNI+) is dropping that is more of an indication we many need to pay attention to.