Lenihan: Difficult to judge the economy on one quarter

DCon

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Good old Lenihan said something akin to the thread title on TV3 News.

Yet, the same Lenihan uttered the following with relation to Q1 data

Wednesday, 7 July 2010

Last week, the Central Statistics Office confirmed this is the case. GDP increased by 2.7% in the first quarter. As I have already stated, that is the fastest pace of increase in the EU. As a result, this evening my Department has revised its budget day forecast for GDP growth this year from -1.3% to positive growth of 1%, tangible evidence that the economic plan which the party opposite calls for us to abandon, is bearing fruit.
Economic Issues: Motion (Resumed): 7 Jul 2010: Dáil debates (KildareStreet.com)


Tuesday, 6 July 2010

Last week’s CSO national accounts figures for the first quarter of 2010 show that gross domestic product expanded by 2.7% between the final quarter of last year and the first quarter of this year. This provides concrete evidence that the co-ordinated measures taken by Government to address competitiveness, the public finances and the banking system are paying off, with improved confidence and clear evidence of a return to growth in output.
Central Bank Reform Bill 2010:...: 6 Jul 2010: Seanad debates (KildareStreet.com)
 
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HanleyS

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As I said at the time, the technical definition of entering a recession needs to apply on the recovery. It was a bit rich of Fianna Fail to claim we'd started the recovery based on a single quarter's results when they had been so sticky on the definition of a recession when it suited them.
 

johnfás

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Just heard Megan Green, of the Economist's Intelligent Unit, on BBC Radio 4's The World Tonight predict with a degree of certainty on her part, that Ireland will resort to the IMF before long. These are the people Lenihan told us supported us... whoops...
 

SideysGhost

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Twould be great if we actually educated people so that they could tell when some insane snakeoil salesman was trying to bully therm into buying some steaming pile of crap.

Unfortuately we;ve decided instead to educate our young how to suck and lick up any steaming pile of crap as long as "Authority" has told you it's a good idea.

So many things go right back to the Murder Machine. The blatant subversion of that revolution is a shocking disgrace for any true Irish man or woman.
 

Mushroom

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Nov 27, 2009
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I'm about to change my signature to "Yet more spinning and/or u-turning from Bozo" which, I reckon, will save me a lot of typing from now on.

I wonder will he wheel out some medical expert who will solemly declare that it's his medication that causes him to lie so regularly - his late father tried that trick some years ago.
 

TonyBird

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Ah sure hes only the finance minister . Lay off him ye bullies !
We are no longer in control of our own destiny .
 

HanleyS

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Joined
Jan 11, 2007
Messages
815
Twould be great if we actually educated people so that they could tell when some insane snakeoil salesman was trying to bully therm into buying some steaming pile of crap.

Unfortuately we;ve decided instead to educate our young how to suck and lick up any steaming pile of crap as long as "Authority" has told you it's a good idea.
I'm amazed at colleagues and friends who are completely void of critical thinking and suck up whatever they are told without question, especially by government. These include people working in high finance who actually sneer at the opinions of people from outside their professional circle because it conflicts with Bloomberg or whatever other media organ suits their favoured message.
 


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