Primetime tonight 17/04

They just had an ad on before the 9.00pm news. It was to have been given over to the Neary case but now part of it is looking at the property market.
“Does anyone know where the property market is going tonight we look for the missing pieces in the property puzzle”
I think that was the wrap line

I wonder if this will be the VI’s/Goverments attempt to blunt the effect of Future Shock.

Jim Power must have some vested interest in the property market. How can he say market is fundamentally sound? He goes on about the overreliance on construction and public sector and poorly performing export sector yet says housing market is fine. Bet he has a few properties or his company have some interest that needs defending. I have lost respect for him as an economist.

Jim Power is economist at Friends First, doesn’t get more vested interest than that!

friendsfirst.ie/economiccommentary.shtml

Ouch, that will have frightened a lot of people. A very clear message that you should rent and not buy now (those words were used).

I’m unsure about who came across better. O’Kelly makes more sense to me obviously as I agree with him, but he came across as slightly nervous (if you’re reading Morgan, go get some beta blockers from your doc :wink: ). With the open shirt and arms waving he looked like every inch the earnest professor type.

Jim Power looked the smart suited banker type and was obviously more versed in TV presenting. His arguments were the usual “we’re different” and so on, which mean nothing to me but may mean more to others.

Personally I think Irish people would be more likely to listen to someone like O’Kelly in the above situation, but I’m not sure.

The most perfidious way of harming a cause consists of defending it deliberately with faulty arguments.
**Friedrich Nietzsche
**

Power was dreadful tonight, if I was a VI I would have been really p*ssed off with his performance. I was actually looking forward to seeing comical, I was looking forward to a good laugh. Prof Kelly was superb, hadn’t seen him before. He wiped the floor with Power.

Kelly was given more time and a freer rein on Today fm and had some really scary views. He also has a very short time line for a major crash, I think he said tonight and certainly on the radio that we would see a big jump in unemployment by late autumn and basically we were all going to hell in a handcart.
Interestingly he said that it will not need any external shock, oil price dollar exchange etc, that we are shagged regardless
My worry is that he is correct, but I would also have a worry that he would be wrong in his time line and his whole argument could be discreditted by Christmas.

kelly was very good, but there are bigger guns out there…
would love to see someone like neary out in ucd or ruane in tcd…they are probably a bit slicker/media savvy and big in these international trade/globalisation areas…, not to take away from kelly who is an excellent lecturer and academic and has a set of balls…

wonder where the rest of these economists will stand up and analyze this issue.

ball seems to be starting to move now.

Absolutely.

Powers overuse of the word “fundamentally” brought a smile to my face.

I dont think so - the market is stagnant a long time now, sentiment has turned, very few were buying before these programmes were shown.
The next few reports will start to paint a picture of decreasing prices in the property market. It will be impossible to hide it now. Soon people will be on Joe Duffy saying they cant sell and are crippled with interest rate rises and are in a one bed apartment expecting children yada yada yada.

The ECB will meet in Dublin in May - the fact that its in Dublin wont help when they raise rates!!

Trying to discuss over in the Central Bank forum about job losses and the construction industry. Remember all the hundreds of job losses around the country lately - well I suspect that the Construction industry indirectly absorded these losses by hiring more staff to rush finish developments. Hence the live register has actually decreased in March this year. I could be wrong but either way new starts are down 25 - 30% approx and this WILL translate into job losses. And before Christmas.

So in a climate of decreasing prices and increasing interest rates and increasing job losses all before Christmas I reckon he could be spot on with his timing.

But the whole mess in its entirety will probably drag on for years.

Lets hope we find oil and lots of it off the West Coast!! :exclamation:

Question, you are a tenured professor of economics working away in Academia why raise your head above the parapet??
Cant be financial, you might get the offer of writing an article or a column in a national newspaper,but you open yourself up to ridicule from a very powerful grouping in our society.
I would love to think that it was for truth justice and the American sorry Irish way but I am not convinced

In a years time the rest of them will look like planks but he wont

He will have credibility they wont

Was I smoking pot or did Jim Power use the words “Irrational exuberance” Heard that somewhere before!

Imagine Jim Power actually lectures on an MBA course, what kind of f**kwits must DCU be churning out!

Don’t be insulting us DCU grads! I thought he was lecturing in UCD anyway? Just because he is towing the party line on tv/radio does’nt mean he is’nt a competent lecturer.

Do you know what’s shocking?

It’s shocking that DUPLEX stole my old signature…

It’s still on my personal emails, Open Window can confirm!!! :stuck_out_tongue: :wink:

EDIT: And on the DCU thang, or any university thang… Did anyone actually agree with their professors??? Don’t tar students with the brush just cos the capitalism of university foists these personalities on them…

George W. Bush has a Harvard MBA. Nuff said…

He strikes me as a genuinely decent man. He might just be interested in telling the truth, plain and simple.

The truth of course, is a somewhat alien concept in this political and economic sewer pipe that we live in at the moment.

I’d managed to repress most of my memories of UCD up until now, thanks TUG :imp:

I did Commerce. There was economics one guy, Norton I think, he knew what he was talking about. And an econometrics professor, Thom something IIRC, he was fairly good.

Every single one of the others over the 3 years was a vacuous moron barely capable of summarising a chapter of the textbook in their oh-so-insightful “lectures”. Complete waste of time.