Newstalk: Jim Power reporting live from Damascus

Jim Power on newstalk this morning;

The 40% already figure annoyed me a bit but then I thought about it, valuations is the key word. His view is property is down 40% based on valuations.
He also tried to get a mention in of Morgan Kelly’s 80% prediction but was interupted by that blonde harpy.

Too late Jim … way too late.

Its akin to a life-long smoker, now lung cancer patient, being told by a cigarette company about the dangers of its products.

Interesting analogy Mr A seeing as how Jim is currently working for Ash 8)

A more interesting line of questioning would have been:

What about those people who bought in the last few years on the basis of your “predictions”

Should you not do the honourable thing Jim and resign from your position at Friends First?

I heard both herself and Ger Gilroy talking about buying in the last few years the other day, and she actually said “I don’t think I’ll ever get back what I paid for it”

I did not know that. :laughing:
But the real reason I chose that analogy was, like credit, we all know the dangers involved with smoking … and yet so many continue to (voluntarily) get hooked.

The housing bubble may well and truly have popped, yet you can be guaranteed that another bubble is forming elsewhere and, perhaps in 20 years or so, it will be propertys time once again.

Like with the effects of smoking, people refuse to learn !

Both presenters of that programme bought within the last two years!

Who were they bought by? :smiling_imp:

I thought Claire used to write in her column that she was happily renting?
She must have bought recently.

Wasn’t Gilroy “followed” by some newspaper as an example of an FTB trying to get on the ladder?

June 17 2008 … 12061.html

Did she deffo buy after that article?

Fair play to Jim.

A few months back he seemed to be rewriting his role in all of this to make it look like he was on the
good side of the debate all along. That was never going to wash, not in an age when peoples articles
and soundbites are at our fingertips forever.

After Obama’s election it seemed like every damn advertising campaign seemed to use “Yes you can” as it’s
tag line. Now after Obama’s apology we’re going to see “I screwed up”.

Jim is a clever guy to realise that given everything that’s happened “I screwed up” is just about the only way to
come out of this with any sort of reputation.

Compare it to Cowan’s feeble defence of his time as finance minister “I was acting on the best available advice.”

Now that he’s converted I’d love to hear a really detailed explaination from Jim about how he ever thought there
could be a soft landing. It seems to me the more experienced and qualified you were in the ways of economics
the more likely you were to be wrong.

Anyone who has ever run a household budget could see the problem we were creating as a nation. But economists for the most part couldn’t.

Jim, how about a book?

Dancing at the disco bumper to bumper
wait a minute…where’s me soft landing?

It’s not a catchy title, I’ll grant you that.


St Paul would be proud:

Good for him, He’s straight out with it, no nonsense. It is great that he’s stood up and was counted about what we did wrong and how we should fix it. We need a few more people to make the same journey and then we might just get out of this.

A very positive recent trend is a new simplicity of language in media statements. Every smart media person now knows that spin is dead, just look at GM chiefs Wagoners resignation statement. Long may it continue.

It is all a bit late Jim . Isn’t it :frowning:

And you should know that taxing cigarettes any further will lead to greater profits for serious criminals.

Read up on 'diminishing marginal returns ’ please before you do any more ASH lobbying !

Yup, he’s a great man to have around after the collapse of a property bubble.


Apparently, there was lots of doomers hanging around “talking” - which caused “Soft Landing” to bolt.

Worst part of that “Soft Landing” story was the reports of a loud bang being heard shortly after his escape.

A snatched photo, taken with a mobile, is the only clue the Gardaí (who are said to be stuck) have to go on:

:laughing: :laughing:

Yeah. I heard her giving out about having only paid her Stamp Duty a couple of weeks before they changed it on her. Which means she bought within 3 months of that point in time. Going by that article it would have been the latter half of 08 so she did not buy at the top of the market at least.