IMF Article IV Report on Ireland

Damn! I knew I should have photoshopped the IMF report in - to try and fake on-topicness!

Well, I don’t really have an issue with anyone’s post. I’m just curious about peoples’ reactions. Sharper has answered my question, at least in the context of social partnership. I am certainly no great advocate of social partnership. I agree with Sharper that the Irish media’s kid gloves’ treatment of social partnership is silly.

If given proper coverage, this IMF report and especially the specifics regarding national debt, public service, and NAMA could just be the reality check that is so badly needed. So many still hang on to the notion that this is all a bad dream and everything will be fine as soon as dawn breaks, the whole country needs to realize that this is an Artic winter and dawn may not come for a long, long time but they do need to wake up and deal with the reality daily until the long awaited Spring.
While people are seeing the effects in daily life in terms of unemployment, negative equity, increased taxes, wage cuts, businesses closing down, banks refusing credit, etc., it seems to me that people have not absorbed the national reality of a bankrupt nation where NAMA is but an added farcical fairytale.

this seems still alas to be the reaction of people

If by proper coverage you mean Prime Time specials, VB, THe Hook etc, forget it. What we need is a developer to ring Joe Duffy in tears, or a NAMA storyline in Fair City, then the sheeple might take notice.

Or people can try to explain it to their friends with what they know as best they can using simple cause & effect scenario painting.

Tell them to check out this website.

To look at the years of commentary on this website.

That exemplifies the power of the ordinary, the people who have been more effective at explainign what are difficult issues than any media outlet. Issues essentially orbiting the supernova that is the property bubble and thus once this is grasped as a universal context it becomes very easy to understand and compute onwards.

The sacred cows of welfare, health, education and pensions will have to be cut.

It’s as clear as day.

It’s because the pin has an unofficial glee policy.

Unfortunately OW this presupposes that most people actually want to, or can be persuaded to, seek out and absorb information. We on the pin and similar forums are in this respect an exception, rather than the rule IMHO.

Years of soundbytes, and lacklusture analytical reporting have left the majority of the populace either enable or unwilling to even attempt to absorb serious detailled information, even when it directly affects them. Actually, this may be a chicken & egg situation now that I think of it, possibly modern reporting methods are a response to the unwillingness of the populace to absorb detailed coverage.

Either way, the problem remains, I understand where you’re coming from, it would be great if that untapped power could be harnessed, but I ain’t gonna hold my breath.

Have read report and am listening to the most appropriate song track I could think of - Metallica One.

I’ll be ok having lived through the 80’s when we hadn’t got a pot to piss in.

I’m thinking about the little urchins next door to me who have been raised with no respect for money -
I specifically remember the Confirmation and his pocket stuffed full of fifties.
There was me proffering my measly tenner.
It was shown no respect whatsoever.

This generation of school leavers has no respect for money.
So you will forgive me if I experience some schadenfreude.

This is the smoking gun for just how total the economic mismanagement has been by FF…

With a 2% potential growth rate how long will it take the Irish economy to return to any kind of health? A decade? Longer?

The charts on pages 4, 11,12 and 22 are equally damning.

Almost as grim as some of the most pessimistic scenarios discussed on the pin over the last few years…

Jesus H Christ! I hate this sort of sour glibness.

The predictions on the Pin have real authority. Over the last 3 years the general consensus has easily beaten any IMF, OECD or ESRI ‘analysis’. They are all late to the party. Sorry. Forget this ‘lets all be positive’ bullshit. The sooner the reality is known by the majority; The sooner we can start the real recovery.

Amen to that.

Ah recovery… Sweet recovery… 12 steps is it…

I don’t know why anyone is paying any attention to an IMF report, these are the same dudes who came out with gems like property overpriced by maybe 15%, 2 years ago… And were shopping our example around to numerous accession state countries…

IMF don’t have the foggiest either… They’re just waxing lyrical… Which is what they are best at…

Even so, there is more truth in that one report from the IMF than everything we’ve heard from the government in the last 5 years.

I remember at the time that our Gubberment Felt that the IMF were talking Sh*#e and there was no bubble, Twas all Lies, Damn lies and Statistics to Bertie.

Because the IMF report is the optimistic and politically finessed take on the data presented to them.

If this is the ‘spun’ bowdlerise version, what must the current raw data really look like?

I take it dissent and the idea that the IMF might - as usual - be overegging the pudding along with looking at things through their jaundiced ideological eyes is unwelcome in this thread, then?

The IMF is a slash and burn operator. They also require headlines.

I’m not sure you can overegg one of the biggest economic collapses of the last 100 years.

Look at the historical graphs. The text was trying very very hard to be diplomatic and positive despite the grim tale of utter incompetence that the historical data illustrated.

I also got a sense of an undertow of exasperation from the IMF people. Could it have anything to do with the utter lack of economic and financial expertise at the Dept of Finance? Or the thoroughly fourth rate people they met in the government.