Foreign investors will remain - economist

That’s some grade A tripe you’re peddling there, Dr. Ron… :unamused:

Crikey. Surely he doesn’t believe any of that silliness.

I believe this is Tool’s first great release since being appointed at NIB and how wonderful it is… :unamused:

All the rubbish the media and VIs are currently spouting was being spouted in the US one year back. It is remarkable the way economys run the same patterns but it is even more remarkable that people say and do the same things in different markets. Judging by the things that have gone on so far I think it is fair to say if you want to see the situation in Ireland in a years time look at the US now.
Take builders in the US for example.
several months back they were refusing to drop their prices and offering the “extras” to attract the buyer. That didn’t work so they dropped prices a little then a little more.
Now they are having price wars with each other to attract buyers. The problem here is they have left it too late. Nobody will buy now at any price.
Builders here have generally not dropped prices. So they are approx 8 months behind the US.

Do Irish builders know anything about economics? It seems to me that the first builder here who drops their prices considerably might save their own arses to the detrement of all the others. That builder will be able to exit the market with less profit but probably without a loss and then they can sit on their land bank and wait 6 years for the recovery. This will allow them to escape the market before the market reachs the bad situation currently happening in the US market.
On the face of it you have to wonder about the intelligence of the builders. Since they don’t seem to learn from other markets where the same thing is occuring. Are most builders Ex bricklayers who started by building a house and ended running a building company. That would explain a lot.

Feeding Frenzy is the answer…every builder was expecting the other to give up their piece in case of a slowdown…

It’s a bit the same with the statement made in the media yesterday about businesses foreseeing a slowdown in the economy but not being able to see how it will affect them.

welcome to the united states of denial, we hope you have a pleasant stay. :unamused:

I said when there was a press release to announce that this guy was appointed ‘give him the benefit of the doubt’ but after today all the ‘Toole’ jibes can rock and roll.