We’re the most exposed in Europe!
How the mighty have fallen…
On a separate point, if as suggested in the above article, not all housing markets are so exposed to a crash as ourselves and a few other notables, could RoboPaddy emerge relatively unscathed from his escapades in Eastern Europe and elsewhere?
No, RoboPaddy will be stung. You see, people in the former Eastern Bloc countries are put to the pin of their collar to feed and clothe their communist influenced apostate populations. The Aged Demographics are even worse than they are in mainland Europe. Speculation in property is just not considered; they have more immediate uses for their money. RoboPaddy and his borrowed money was a Godsend! You see, Paddy was cornered from all directions because the notion of discussing falling birth rates and its likely repercussions, when considering investments was a no go area. You know the “Prices always Goes Up” mentality, fitted in very nicely with the holy grail of capitalism GROWTH.
RoboPaddy did very little investigation at all. It is very easy to part a fool from his money. Paddy’s biggest problem is that he had not got it in the first place; however our Banking Industry and historically ignorant politicians combined to leave Paddy with the greatest Debt burden per head of population in the whole world. Paddy the politician has not yet copped on to the uselessness of the very expensive lessons that he choose to take, to replace the teachings of the Church. Yea, we are now starting to borrow to get us out of difficulty as if the Celtic Tiger was just a Mirage. Where, will it all lead?
I wonder what the missing link is?
Our politicians and bankers have not found it yet; they are all running around like headless chickens and cofusing all the other animals down on the farm!
You’re certainly “cofusing” me…
Confusus he say *He who will not economize will have to agonize. *
Everyone is looking for leadership and salvation in these turbulent times. It’s out there if we look hard enough. It just will not walk in the front door and come to the rescue. When there is NEED, it will be earnestly sought. The question is the degree of Need. My hope was this need which surfaced years ago, does not get any worse before we really need it. The earlier we call for it, the wiser the decision we can make. The later we call for it, the more of a consoling influence it will have; all will be lost by then and its uphill all the way!
Give it a rest, will ya?
Salvation, eh? Financial or spiritual?
Let me guess both are intertwined…
The need for leadership is itself a problem. We evolved that big gray lump of slime behond our eyes because relying on it is superior to blindly obeying the whims of alpha males.
I’m in a country right now where people are still paying an immense price for disregarding that advice and slavishly worshipping Peron and his gaggle of uniformed successors.
for any one whos intereested…
look at your GDP, pretty small…esp when inflation is taken into a/c with gdp deflator
Dec. 6 (Bloomberg) -- Following is a summary of projections
2009 2008 2007 2006 2005 2004
- % changes, volume (2005 prices) - EUR Bln
Private consumption 3.8% 4.7% 6.4% 5.3% 7.4% 67.8
Government consumption 4.5% 5.2% 6.3% 6.4% 4.1% 23.2
Gross fixed investment 4.2% -1.9% 3.5% 3.0% 12.0% 35.1
Final domestic demand 4.1% 2.9% 5.5% 4.8% 8.1% 126.1
Stockbuilding 0.0% -0.2% -1.8% 0.7% -0.1% 0.1
Total domestic demand 4.1% 2.7% 3.4% 5.7% 8.0% 126.2
Exports of goods and services 5.3% 5.4% 7.4% 4.5% 5.2% 124.8
Imports of goods and services 5.3% 5.2% 5.4% 4.4% 7.7% 102.4
Net exports 0.6% 0.8% 2.2% 0.6% -1.0% 22.4
2009 2008 2007 2006 2005 2004
------------- Memorandum Items --------------
Consumer price index 2.0% 2.5% 2.8% 2.7% 2.2% n/a
Private consumption deflator 2.1% 2.5% 2.8% 2.5% 1.4% n/a
Unemployment rate 5.4% 5.6% 4.8% 4.4% 4.4% n/a
General Gov’t financial balance* 0.2% 1.0% 2.2% 2.9% 1.2% n/a
Current account balance* -2.8% -3.0% -4.0% -4.2% -3.5% n/a
Note: Levels are in current prices.
Percentages for stockbuilding and net exports refer to
contributions to changes in real GDP (percentage of real
GDP in previous year).
* = as a percentage of GDP.
RoboPaddys in trouble so?
Is this Pin mushroom day???
Fun-o-rama eh, great commentary!
Barrel of gun, chloroformed and dropped into the Mar del Plata, 20,000 people at the very least!
As the EAs said of the Pin, a year ago!
Yea! I will take the hint until the next time that I feel strongly enough that a piece of writing needs a little bit of further enlightenment.