The Economic Impact of Covid 19

coronavirus

#226

Could really do with 10-60 million more tax paying peeps right now.


#227

It’s terrifying. Then add on all the personal debt, mortgages, SMEs etc a lot of which may have run into financial problems over the last year as well…


#228

It’s ok the Central Bank can just keep printing money. It’s only paper. There’s no body on the other end. Read it on the back of the cornflakes box there. Sure be grand


#229

we are seeing some real slowness in supply chains at work causing large delays in shipping our product, in our case its flash drives not chips. some threats from customers to go elsewhere but this is an industry wide problem.

we got notice that we are tentatively allowed back in the office in Ireland for Sept, that is unless we are in the 5th wave…:roll_eyes:


#230

#231

Looking like a potential cap on public service recruitment for 2022.

Departments are scared and launching competitions now just in case


#232


#234

The National Association of Realtors said in its statement that roughly half of all housing providers “are mom-and-pop operators” and without rental income, “they cannot pay their own bills or maintain their properties.”

It comes as roughly 6.5 million households are behind on rental payments, according to the Consumer Financial Protection Bureau. There are nearly 110 million Americans living in rental households and 19 million to 23 million of them are at risk of eviction by Sept. 30, according to a study by the Aspen Financial Security Program.

In June, the moratorium was extended for a further 30 days, with officials saying it would be the final extension. That extension expired on Saturday.

The Supreme Court ruled in late June that Congress must approve any extension to the moratorium. Last month, a federal court later ruled that the CDC had exceeded its authority in halting evictions.

Hadn’t realised the US rental market was in a jocker nearly as bad as here


#235

A landlord reportedly shot his tenants to death over a dispute regarding rent early Tuesday morning, according to Las Vegas Metropolitan Police.


#236

The rise in wealth is in contrast to the impact of the pandemic on many households.

On aggregate, the Central Bank said households experienced a fall in pay in the first three months of the year compared to the first quarter of 2020.

The figures show that household debt fell by €1.5bn over the quarter, continuing the downward trend, to stand at €128bn in the first quarter.

Total debt now equates to €25,717 per capita.

Household debt has decreased by 36% since the first quarter of 2009.

An average Irish person now owes almost twice in public debt (48k) what they do in private debt (26k)…


#237

#238

The Chief Executive of the National Treasury Management Agency Conor O’Kelly said that the Rainy Day Fund stood at €1.5 billion at its peak.

However, all of the money was used during the Covid-19 pandemic.

“There is no funds in the Rainy Day Fund as we speak,” Mr O’Kelly told the PAC today.

Mr O’Kelly also said the NTMA oversaw loans to Aer Lingus of €150m during the pandemic, and is in talks with the airline to see if it needs more assistance.

The NTMA also loaned the the Dublin and Cork airports operator Daa €40m, he added.

Mr O’Kelly told the committee that Ireland borrowed just under €36 billion since the start of the pandemic at an average interest rate of 0.16%.

Seamus McCarthy, the Comptroller and Auditor General, told the committee that the national debt in 2020 was €219.5 billion, up €12.75 billion, or 6%, on the end 2019 due to the pandemic.

However, the cost of servicing the debt continued to fall in 2020, due to refinancing.

It cost €4.7 billion, half a billion euro less than in 2019, he added.


#239

Remember the Grand Theft Auto memes back in '06-08 or thereabouts, or was it Grand Theft Nama or something like that? :thinking:


#240


#241

Giving money to a country where corruption is more rampant than COVID and expecting to see legitimate accounting from the people on the ground, so naive it’s shameful.


#242

How many funds when missing in that paragon of principles, the U.K.? Or overspent? Although the amount of money spent on track and trace is more plausible if they are making an entire social credit system,

We had a bunch on money spent on useless stuff too mind.


#243

Only 3 billion quid. Chicken feed.

How about $11 billion with a probably $20 billion more. And thats just one state.


#244

Nancy needs to pay for her hairdresser somehow :woman_shrugging:


#245

Per CSO, total cost of COVID supports so far

2020: 14.8bn
2021 Q1: 3.7bn
2021 Q2: 3.6bn

https://www.cso.ie/en/releasesandpublications/er/gfsa/governmentfinancestatisticsoctober2021/
https://www.cso.ie/en/releasesandpublications/er/gfsq/governmentfinancestatisticsquarter12021/
https://www.cso.ie/en/releasesandpublications/er/gfsq/governmentfinancestatisticsquarter22021/