700 billion euro

Hi lads

good to see someone had the initiative to continue the forum, well done all round

does anybody find it a tad ridiculous that irish property is worth the 700 bill mark

allowing for exchange ratess and the like irish property is worth half the uk private debt of 1.3 trillion pounds,

i dont think this 700 figure includes the value of farmland either which is selling for 10-20k an acre depending on what u read

so the question is this , is the island of ireland worth more than FRance, Japan and Russia combined? :question:

Hi Lord Vader, thanlks it was I who set this up after the following on from Duples irish-property-bubble.blogspot.com started (do check it out), what are there current, relative land/property values of japan & the rest?

Its intersting to note the follwoing from the CIA factbook on external debt,

1 World $ 38,540,000,000,000 2004 est.
2 United States $ 8,837,000,000,000 30 June 2005 est.
3 United Kingdom $ 7,107,000,000,000 30 June 2005
4 Germany $ 3,626,000,000,000 30 June 2005
5 France $ 2,826,000,000,000 30 June 2005
6 Italy $ 1,682,000,000,000 30 June 2005 est.
7 Netherlands $ 1,645,000,000,000 30 June 2005
8 Japan $ 1,545,000,000,000 31 December 2004
9 Spain $ 1,249,000,000,000 30 June 2005 est.
**10 Ireland $ 1,049,000,000,000 30 June 2005 /b]
11 Belgium $ 980,100,000,000 30 June 2005 est.
12 Switzerland $ 856,000,000,000 30 June 2005
13 Sweden $ 516,100,000,000 30 June 2005
14 Austria $ 510,600,000,000 30 June 2005 est.
15 Australia $ 509,600,000,000 30 June 2005 est.
16 Canada $ 439,800,000,000 30 November 2005

What can this mean, Ireland has a higher external debt than Japan? Higher than Canada!? Yet we only have a population of 4.5 million Vs Japans 120 million.

NOw depending on exactly what external debt is, my reading is our land nad property is SO ovrevalued, in world breaking terms that we need to borrow more than 129 million Japanese??

Is I reading this right?

Oh and who really owns the worlds debt eh? God? Budda?**

According to my bank 4 years ago, Irish Banks were borrowing from the European Central Bank, which was presumably borrowing from European banks.


Indeed but that is mostly US debt it has underwritten, but it probab;y all boils back to one guy in some office , off some non descript street in some no descript town… well now not to digress, but we seem to be up to our proverbials in Debt and I don’t see us doing anything else but expecting younger gnerations to happily accept even more debt to bail those out just ahead in the que.

Time will tell.

davidmcwilliams.ie/Articles/ … icleID=376 :open_mouth:

Mc WIlliams must have been reading my post since Christmas :wink:

I liked this comment from “Billy Waters”

To buy now is lunacy. There is no shortage of land. There
is only a perception that prices will rise.

But prices will rise.

10% at least this annum, at least in Dublin, Meath and Louth, possibly Kildare…

We’ll get the last of the SSIAs kicking in around March - May of next year so that’ll ensure buoyancy for a bit after, then everything will standstill with the election for a short period.

If FF were kicked out, the poor unfortunates who follow will probably be left to pick up the pieces!

Although FF will probably smarm in with Labour or something next time out in any case…