The mood of Irish consumers darkened once again in October, according to the latest edition of the IIB/ESRI Consumer Sentiment Index, out today.
IIB Bank’s chief economist Austin Hughes today questioned the grounds for such pessimism.
Denial is not just a river in Egypt.
Oil has rallied another 2.8% this afternoon and last traded at $96.60; the euro reached yet another all-time high again the dollar this morning; even the dogs on the street know that the house prices are falling.
You’d think that the average consumer just got out of the wrong side of bed the day they did the survey.
And the ISE is still heading downwards.“7,386.64 down 72.34 points”.
Holy Lord will this ever stop? 
Lack of faith in economists perhaps?
-Rd
Although facetious there might be something in your comment. By that I mean that VI economists have had a large role in fuelling people’s unrealistic expectations. Richest country in the world, 100 year boom etc etc. Now that the banks will no longer allow people to borrow their way to consumer paradise mass depression would appear to be beginning to set in. Or is that talking ourselves into a recession? Or even a self-fulfilling prophecy? I can never quite decide…