WTTR, I’m surprised you’re not dating it at the 1999 securitisation law. To my mind that kicked off the property bubble. It could also be from when McCreevy was forced to roll back on removing interest relief for specuvestors.
Gentlemen (and laddies) you are somewhat missing my point.
I am not asking “when” the Celtic Tiger stopped roaring, or “if” there was ever one.
There is always a tipping point, a time when public sentiment turns. I am of the opinion that, despite the turmoil for the last few months, Irish people had viewed house price drops and financial markets conditions as a temporary blip, not as longer term reality.
What I am saying is the turmoil in the last few days may have changed this “accepted wisdom”. Certainly, from reading the IT and Indo in the last two days, it’s more gloomy than a wet day in Sneem.
I am not talking about politicians, economists, lawyers etc - I am talking about your average fella on the streets.
Oh and Ireland losing to England today may not have helped the national mood …
In that case, it will take a “name” to go bust.
Either a poster boy company or a big company.
I have a feeling you are right, but that is more the dead knell. A Dell or an Intel to go and god knows what will happen …
I think people will only realize the situation we are in when a major Irish bank goes to the wall (and people lose savings) or a few big name foreign employers pull out. Until most people know someone who has been left destitute by the downturn, a lot of people will think it is a blip.
Yup, the boom didnt last for too long afterwards.
for all those who really know nothing about nothing, the celtic tiger was around long before Bertie became taoiseach.