Hey, it’s Friday and all the Christmas stuff is up – let’s go get locked!
Not sure I can sesh like I used to, but I’m absolutely ready to find out
We’re fecked, sack everyone, pack for Australia.
The Daily Torygraph will probably run this as front page news with an opinion piece by Allison Pearson linking Irelands faultering economy with Varadkar/Martin saying something nuanced about Israel/Gaza.
Keep the recovery going
For those with Pension investments, this is a great time to go to cash for a while. The risk in equities isn’t with the potential reward at the moment.
We’ll session through the recession!
Can’t even get cheap booze, this recession is already less craic than the last one.
Sweden and Canada announced similar over the last couple of days
How fucked are we? What’s this going to be like compared to the last one?
>The economy, as measured by gross domestic product (GDP), fell by 1.9% in the three months to the end of September, according to the latest figures from the CSO.
>Modified Domestic Demand (MDD), which more closely tracks the domestic economy, was broadly unchanged over the same period.
>When the third quarter is compared to the same period in 2022, GDP is down 5.8% while MDD is down 0.4%.
As we should all know by now, GDP is very misleading in Ireland, as it’s skewed by large multinationals that offshore their profits. We shouldn’t pay too much attention to it.
Modified Domestic Demand is more widely used in Ireland. By that measure we’re broadly level or in very slight recession, but it’s not particularly worrying.
One of the reasons they provide for the contraction is a reduction in demand for COVID pharmaceuticals.
My bank accounts can tell you that
Is there anything to be said for another austerity?
This recession will probably have the same effect as the 15% growth a few years back. Just accountancy – not the real economy.
In a good economy, the rich win. In a bad economy, the rich win even more.
Sure look, we all partied.
Just bear in mind that our GDP figures are about as meaningless as it gets. You’re looking at the fluctuations of the flows of cash through multinationals really.
I’d be more worried if I see a sudden fall in consumer spending, employment or real economic activity.
Wow no way hasn’t a clue man
By definition its a recession, but its most likely not an actual recession since most areas outside one or two have had increases. You can thank the pandemic for it. There’s currently a huge downturn in pharmaceutical production of covid related products which have seen a drastic reduction in the last year near back to pre covid levels. Its more like its trying to rebalance.
Our GDP in general is a bad way to messure how things are going as its so scewed.
The sesh goblins are rousing from their slumber.
Deadly bring back the euro saver menu!
People here are quick to point out GDP in Ireland means nothing. Remember that. The article literally states that MDD was broadly unchanged.
Nope!! Reddit told me this is impossible. Also it’s impossible for property prices to fall. Think it’ll take the Troika back to change your minds.
It is in my hole. Life will go on the same for almost all of us.
25 comments
Merry Christmas everyone!
Oh well.
Hey, it’s Friday and all the Christmas stuff is up – let’s go get locked!
Not sure I can sesh like I used to, but I’m absolutely ready to find out
We’re fecked, sack everyone, pack for Australia.
The Daily Torygraph will probably run this as front page news with an opinion piece by Allison Pearson linking Irelands faultering economy with Varadkar/Martin saying something nuanced about Israel/Gaza.
Keep the recovery going
For those with Pension investments, this is a great time to go to cash for a while. The risk in equities isn’t with the potential reward at the moment.
We’ll session through the recession!
Can’t even get cheap booze, this recession is already less craic than the last one.
Sweden and Canada announced similar over the last couple of days
How fucked are we? What’s this going to be like compared to the last one?
>The economy, as measured by gross domestic product (GDP), fell by 1.9% in the three months to the end of September, according to the latest figures from the CSO.
>Modified Domestic Demand (MDD), which more closely tracks the domestic economy, was broadly unchanged over the same period.
>When the third quarter is compared to the same period in 2022, GDP is down 5.8% while MDD is down 0.4%.
As we should all know by now, GDP is very misleading in Ireland, as it’s skewed by large multinationals that offshore their profits. We shouldn’t pay too much attention to it.
Modified Domestic Demand is more widely used in Ireland. By that measure we’re broadly level or in very slight recession, but it’s not particularly worrying.
One of the reasons they provide for the contraction is a reduction in demand for COVID pharmaceuticals.
My bank accounts can tell you that
Is there anything to be said for another austerity?
This recession will probably have the same effect as the 15% growth a few years back. Just accountancy – not the real economy.
In a good economy, the rich win. In a bad economy, the rich win even more.
Sure look, we all partied.
Just bear in mind that our GDP figures are about as meaningless as it gets. You’re looking at the fluctuations of the flows of cash through multinationals really.
I’d be more worried if I see a sudden fall in consumer spending, employment or real economic activity.
Wow no way hasn’t a clue man
By definition its a recession, but its most likely not an actual recession since most areas outside one or two have had increases. You can thank the pandemic for it. There’s currently a huge downturn in pharmaceutical production of covid related products which have seen a drastic reduction in the last year near back to pre covid levels. Its more like its trying to rebalance.
Our GDP in general is a bad way to messure how things are going as its so scewed.
The sesh goblins are rousing from their slumber.
Deadly bring back the euro saver menu!
People here are quick to point out GDP in Ireland means nothing. Remember that. The article literally states that MDD was broadly unchanged.
Nope!! Reddit told me this is impossible. Also it’s impossible for property prices to fall. Think it’ll take the Troika back to change your minds.
It is in my hole. Life will go on the same for almost all of us.