The Recession in Ireland?

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Orla C

I wrote answer to this or a similar question yesterday and I can't find it.

What we are going through is not a recession. You don't know what a recession is unless you have lived in Ireland in the 1970s and 1980s - then we were piss poor in monetary terms, it was a big deal to own one car, now college students are finding it tough to finance their cars - in the 1980s very few college students had their own cars, the ones that did were from wealthy families.

Economies fluctuate, this is not a recession by any means, it's a downward loop of the fluctuation. The immediate effect is that we have to stop spending the way we were - no bad thing, considering the eyesores of houses that have gone up around the country over the past 15 years , and the mad, testosterone-fuelled young yahoos driving around their hyped up cars - and consider more carefully what we do with our money. Living on credit got the US into serious trouble, and luckily we are in a position to learn from their mistakes. It's my understanding there was no Financial Regulator like there was in Ireland?

The money-making place? The thing is coins and notes have no value except the value we give them. Money is an artificial concept, it's just paper and bits of metal, and you can't eat those or put them on you to stay warm. The valuable things are those things we genuinely need - food, clothing, shelter - and the things that help keep our spirits up - music, art, stories. In these difficult times these things require more money to get them, because we value them more.

Podge and Rodge Tribute Band

The Nazis tried to do that during the war. It doesn't work. It devalues the currency if there's too much of it sloshing about the place.

Priscilla Duck

And while they're at it they should make new jobs in the job-making place, and new hospitals in the hospital-making place. And then we'll buy in some sunshine from the sunshine-making place and I'll make a clone of myself with my clone-making machine and send it out to work so that I can lie out on my lawn, lighting cigars with my freshly minted moola sipping cocktails and generally pretending its 2001 again. Hoorah.

Excellent series of videos explaining how banks created all this cr@p in the first place:
http://www.youtube.com/watch?v=cy-fD78zyvI

Wolfgirl

Babs, it's got nothing to do with you being Irish or whatever. You can't just make money out of nothing, it has to be worth something. Watch the videolink on Priscilla's answer, it's quite good.

Jas B

If you take that idea to it's extreme then what happened in Germany prior to WW2 would happen where people were taking wheelbarrows full of money to buy food as the money became almost worthless. The banks would go bankrupt and the whole economy would collapse.

Misty Blue

Because that would be inflationary.

aislingthequeen

Was there any money in the first place ?,we have no hospitals ,no good roads (if you go out side dublin)no proper public transport ,again outside dublin and no schools .What difference does it make

xxxxxxxxx

cause the government are retards!!
im living in ireland and even the jobs are going down.
.. so many places have gone bust, its unreal..
f*ck it, if they wanna be a*sshole,s let them
x

david d

Give the points to Orla, spoken like a poet.

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