ESRI Gloom

independent.ie/national-news … 39874.html

These lot were cheerleading the madness. Where do they think they are going now?
I mean the bloody cheek of them now deciding things aren’t so rosy and in fact you can’t have a continous massive increase in property prices indefinitely.
They have no credability. They obvioulsy don’t do economic analysis. They simply listen to the man on the street and report his sentiment. Bunch of muppets.

They might be muppets Bertie but something tells me that they are right on the money this time.

Seriously, where are the jobs going to come from?

As far as I can tell all the ESRI do is look at last year and add a bit on to call it a projection for next year.

Inda & Gormless discussing this in a few mo’s on the Plank show.

To be fair. I’m not saying they are wrong this time. I’m simply saying they need to disband and shut up. If they are are right at any point in time it is purely luck.

in fairness they did publish morgan kelly. This though looks like a mandate for government to reduce public sector wages. Timely.

They do not have the balls to do this. It will never happen. As mentioned here before, they will wait for the IMF to do it for them.

I fn hate the spineless wnkers.

Permanent? WTF? How could anyone say that there’ll *never *be another boom?

Same way that the “Boom will never” backed up by report after report.
Remember your average semi-d was gong to be worth a cool 1 million :unamused: ROFL :frowning:

Has this lad been silenced? :nin

No I think he’s done his bit.
He’s not a fan of the limelight but felt compelled to speak out regarding the madness.
Its much worse than even he ever expected.

The cynic in me suggests that the ESRI is just there to promote the economic outlook the government wants the people to believe. It would make perfect sense to issue a few gloomy reports prior to starting the cuts post Lisbon.

The accuracy of your post is spot on, as long as they are in power we are doomed to mediocre attempts at government, lies and corruption. So how the fcuk can we see that and the rest of the nation cant? Its beyond me. XX

Cause they spend zero time thinking about it. In fact most people just don’t think full stop. If humans were thinking animals our world would be very very different.

General Mouthpiece throwing in a few Morgan Kelly’s to keep people of the scent (little did they know?)
I think the trend is clear and as you say not much more than the usual, content changed but same out of sync tell us something we didn’t know commentary.

I suppose Morgan summed it up best when he was misquoted by the Irish time, “*How come myself and a Bunch of amateurs saw thins coming what about the rest of you!” directed to those attendant, 200 or so economists. *(quote paraphrased by me here) *

*The Irish Times misquoted or paraphrased Morgan Kellys Comments at the UCD conference sometime back when he clearly referred to the propertypin.com printing only the word “amateur” in reference to the propertypin.com.

Methinks the editorial policy on the day is very clear :angry:

We must have the most pro-cyclical government, economists and banks of any nation in the world.

Who cares what these idiots say anymore?

rte.ie/business/2009/0515/esri.html

I have questions about the 2 bits of the report:

  1. The world economy recovering in 2010.
    How likely is this? From what I’ve read it seems unlikely.

  2. Given a world recovery, we grow at 5%.
    Again what is this based on? Surely house prices still have further to drop, taxes must rise, secondary construction related activity will fall and some transfer pricing will end, CAP ends, Kyoto kicks in shortly and someone has to pay for the banks.

I think they mean it is permanent in the sense that there will be no U or V-shaped recovery. Obviously it would be resonable to expect it to recover eventually. But years and possibly decades from now.

As regards the first point I don’t think it is t unreasonable. Other countries are having their “correction” much faster than us because of better government, better reporting in the media and real figures that are in the public domain that ensure the full gravity of the situation is more quickly appreciated and people adjust their behaviour accordingly. Because they’re getting through their denial phase so much more quickly it can be reasonably assumed that they’ll move through on to their other phases more quickly also.

As regards the second point - I think thats mostly based on wishful thinking and hope.