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Bord Gáis warns of 'big social recession'




grainne whale

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May 2, 2007
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556
You better get used to this, we have a 3rd World economy. More and more of our income is used up just trying to survive. The final straw will be when no food is provided in our hospitals, it's up to relatives to provide your food when you are a patient, as is the norm in Africa.
 

gijoe

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Jul 26, 2010
Messages
15,366
You better get used to this, we have a 3rd World economy. More and more of our income is used up just trying to survive. The final straw will be when no food is provided in our hospitals, it's up to relatives to provide your food when you are a patient, as is the norm in Africa.
Ireland really is a lower income EU country living the high life paying for itself on the never never. A tax base of €30-40billion must be regarded as the norm rather than the exception in which case spending €55billion needs to be slashed to measure.
 

the_rebubblican

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Mar 24, 2010
Messages
344
This is a very serious development. If Bord Gais are coming out publicy using these terns then we could be heading for real trouble. Other posters have debated NAMA 2.0 with mortgage defaults, thankfully rate hikes are a way off (good for Trackers) but a tipping point may arise where widespread domestic bankruptcy could happen due to the reduced disposable income with increased taxes, job losses and reduced welfare spend. Even if we avoid a double dip, it will feel like one. I hope this government has a plan.
 

captainwillard

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Mar 2, 2010
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2,897
Did you read where they say they can continue to give discounts? Surely they are charging market rate.
 

Mitsui2

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Nov 13, 2009
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33,328
I hope this government has a plan.
Odd - that's exactly what frightens the daylights out of me - that the government has a plan.

But then you're probably talking about a plan that would be of some use to the general public, and that's not the kind of plan I'm frightened of.
 

Mister men

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May 9, 2010
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2,887
Bord Gais point out the obvious shocker.
 

Asparagus

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Apr 7, 2010
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4,882
FF bring you "The Big Switch 2- Emigrate Please"
 

Catch 22

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Sep 11, 2010
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184
60/5*24*365=105120

105120 customers in trouble with their gas in a full year?

Shocking
 

Tom245

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Jun 11, 2004
Messages
495
Everybody I speak to is struggling to pay off last winter's gas bills. They are delighted we had a warm summer but are dreading the possibility of another cold winter. All say they will not be putting on the heating to the same extent this year even if it's as cold. Going to be a cold winter for many, many people.
 

slx

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Oct 13, 2008
Messages
883
Yet the Organic Vegetable Party is forcing the price up via carbon taxes that nobody can afford.
Do they not realise that people will actually die of hypothermia this winter?!

@gijoe : I wouldn't say that Ireland's a low income EU country that put everything on the never-never. What we've seen is a system which basically hoovered-up all the high incomes via a property / banking pyramid scheme. It's the single biggest transfer of wealth from the productive sector to the non-productive / speculative / landlord/banker sector in the history of the state. This is pretty much the 1800s all over again! Just replace the term "landed gentry" with "property developer" or "banker".

A large % of our population basically transferred all of their earnings, and their future earnings (via mortgage commitments) directly to the back pockets of these socioeconomic parasites.
 

jacko

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Mar 6, 2009
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agreed - and watch them lump on more excise and levies in the budget
 

slx

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Oct 13, 2008
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883
If we get a really cold snap this winter, there will be huge problems.
There are a lot of people holding on by their finger nails.

However, *EVERYTHING* goes back to property. High mortgages, high rents, all of those costs feeding into generally high prices and now high taxes to pay for the gamblers' who need to be baled out.

The whole situation is just utterly nuts! Seriously, I don't think there is any way out of it anymore other than to emigrate.

Could we possibly declare Ireland 2.0 and the Republic of Ireland could be the IFSC. Throw in the bankers, the developers and most of FF and build a large electric fence!
 

captainwillard

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2,897
Everybody I speak to is struggling to pay off last winter's gas bills. They are delighted we had a warm summer but are dreading the possibility of another cold winter. All say they will not be putting on the heating to the same extent this year even if it's as cold. Going to be a cold winter for many, many people.
Turn heat down. Wear more clothes. It reminds me of the good old days when people used to mind their pennies.
 

politicaldonations

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Joined
Sep 28, 2006
Messages
682
Dont worry boys, the lads in ESB and Bord Gais have great salaries and pensions and even got pay rises this year. Im alrite Jack O'Connor says let the poor get public sector jobs if they want a good life in 2010 Ireland.
 

muffin

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Joined
Sep 12, 2010
Messages
1,969
@gijoe : I wouldn't say that Ireland's a low income EU country that put everything on the never-never. What we've seen is a system which basically hoovered-up all the high incomes via a property / banking pyramid scheme. It's the single biggest transfer of wealth from the productive sector to the non-productive / speculative / landlord/banker sector in the history of the state. This is pretty much the 1800s all over again! Just replace the term "landed gentry" with "property developer" or "banker".QUOTE]

Want to let you know that is not true. The last recession in 80's was due to lack of demand and reduced levels of imports/exports in those days. This recession is due to the bad banking system and burst of construction industry. The reckless lending of money and massive debts the banks have has been dragging the economy down. The fact is the economy is not going to get back to its feet until the banks are healthy again. Pretty crap since all our taxpayers money is going into their banks and they get to keep their jobs at the top. I like to see complete new staff across the board in all the banks that has been nationlised plus the finantial regulator, central bank and certain top public sectors that are supposed to be involved with regulation.
 

slx

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Oct 13, 2008
Messages
883
Dont worry boys, the lads in ESB and Bord Gais have great salaries and pensions and even got pay rises this year. Im alrite Jack O'Connor says let the poor get public sector jobs if they want a good life in 2010 Ireland.
They won't be too "alright" if either company has a massive cash flow crisis and the state has no money to bale them out.

Anyway, I would strongly suspect that ESB and BGE are going to be sold off. The state needs the cash.
 

captainwillard

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Mar 2, 2010
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2,897
ESB has a massive pension deficit. This will hinder sell off by the state. I would htink their employees are actually in a very precarious position.
 

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