Ostrich Land

hammer

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Jul 6, 2009
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58,180
Wake up and smell the coffee. Are we entirely deluded after 3 years of Fianna FAIL spin. We have 2/3 independents keeping this shower in Government only because they demand and get what they want from Fianna FAIL.

Our bond rate could touch 8% today
Our banks are bankrupt, what are they borrowing at ? Who will repay it. Mortgage rates will go through the roof in 2011
We have 429,000 on the live register + 100,000 in "training" and a further unquantifiable amount of self employed not qualifying for assistance.
We have 30,000 emigrating
SMEs are struggling
We have 100,000 not meeting mortgage commitments
We have interest only mortgages that need to convert to capital repayment
We have SVP swamped
We have a €6 billion adjustment
We have further €9 billion adjustment to look forward to
We have a huge increase in suicides
We have huge waiting lists in hospitals
We have an ISEQ down 80%+
We need to repay €30 billion re Anglo + interest of an additional €15 billion :(
We have 300,000 empty houses
We have no leadership
We have a belief that a SMART economy can save us
We have crap weather :)
We have a generation in negative equity
We have a public service that needs to be "hammered" numbers wise and maybe even wage wise




Wake up
 


hammer

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According to Brian Lucey 8% has been hit.

Sean Whelan, Lendahands lieutenant will again state that all is ok in Ostrich Land as we will not be borrowing until sometime next year :) :)
 

Black Cat

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I can see all of your points but what can we do? Emigrate - I don't have a degree to emigrate and if I spend my savings on doing a degree then I won't have any money to emigrate. Trapped in all this ************************ you describe like lots of others here I'm sure!
 

hammer

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If we had proper politicians we could recover. We have a DAIL that are clueless and a DOF that have no idea as to the working of the real economy.

FFS there was disagreement as to introducing a car scrappage scheme and they believed that by increasing Vat to 21.5% they would collect MORE VAT :) :) :)

They probably thought the travel tax would result in extra tourists :) :) Gombeen taxation.
 

Nemi_

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If we had proper politicians we could recover. We have a DAIL that are clueless
Unfortunately, that's a product of having an electorate that's clueless.
and a DOF that have no idea as to the working of the real economy.
You may be right, I just wonder a little at one of your examples.
there was disagreement as to introducing a car scrappage scheme
I'd say justifiable disagreement. We're hardly going to have an import-led recovery.

What do you have in mind when you say 'real economy'?
 

hammer

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How business works and what needs to be done for SMEs to recruit people.

If you are losing customers you dont jack up your prices unless you are a State Sponsored Monopoly

A blindman could tell them we need to get people working.
 

Nemi_

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How business works and what needs to be done for SMEs to recruit people.

If you are losing customers you dont jack up your prices unless you are a State Sponsored Monopoly

A blindman could tell them we need to get people working.
Yeah, but we don't need to get them working selling imported cars. We need to get them working in export-oriented firms.

The bulk of Irish SMEs are not export-oriented.

Now, clearly the lower costs are the better. But I'm still not really clear at what you mean by 'how business works'. Recent experience in the building industry suggests quite a lot of the Irish private sector don't know how business works.

Are we talking Underpants Gnome's business plan here? Can you be more precise about what you mean?
 

hammer

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You need to incentivise employers to recruit people. Employers PRSI exemption ofr two years like in the 80s or a €50 per week grant. We need to get people back working.

Export based business would be ideal but what % of firms export. Very small.

We moan & groan about prices and yet we cannot see that the restaurant, the Spar, the pharmacy need a margin to create enough gross profit to pay all those costs that are astronomical in Ireland compared to elsewhere in Europe.

Small business
Wages - Rent - Rates - Water Rates - Insurance - ESB - Phone - Waste - Audit fee - Software Support - Legal fee etc..........

We moan that a business may make a margin and yet most people have no idea as to the difference between margin & mark up. Gross profit & net profit.

WE NEED TO CUT COSTS TO BUSINESS TO HAVE ANY CHANCE OF SURVIVAL.

But then again that needs brains !!!

I agree with the imported cars, but at least people are employed generating income tax, levies, prsi, employers prsi and not on the dole costing €10,000 per annum.

It also generates VAT & Excise for the exchequer.
 

Nemi_

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You need to incentivise employers to recruit people. Employers PRSI exemption ofr two years like in the 80s or a €50 per week grant. We need to get people back working.
I don't agree, particularly with idea of a subsidy - it would end up being abused.

I've no problem with cutting the minimum wage or any other measure to do with labour market mobility. But its either worthwhile employing someone or it isn't.

Putting it another way - if we find that there's a need for incentives, its a hint that something more fundamental is wrong.
Export based business would be ideal but what % of firms export. Very small.
That's sort of the problem.
We moan & groan about prices and yet we cannot see that the restaurant, the Spar, the pharmacy need a margin to create enough gross profit to pay all those costs that are astronomical in Ireland compared to elsewhere in Europe.
I agree completely. I was talking to someone a couple of days ago who works in an FDI manufacturer. They'd a visitor from their US parent recently, who was astounded that the Irish plant pays five times as much for its electricity. Told them frankly "you guys are fecked". (OK, he didn't say "fecked").
I agree with the imported cars, but at least people are employed generating income tax, levies, prsi, employers prsi and not on the dole costing €10,000 per annum.

It also generates VAT & Excise for the exchequer.
Nothwithstanding the tax, I just don't see it as a useful use of people. I'd far rather Bill Cullen went out flogging something to French people than selling their stuff to us.

I'm not at all choosy about what export-oriented work we get - any old tosh, even if its call centres, is grand. But I think we do have to be choosy about stuff that's pointless. Like, Brian Cowen was out in Naas the other day opening a new Tesco. I've nothing against Tesco - I shop there every week, I've no problem with Tescofication at all. But what's Brian Cowen doing opening their shops for them, mouthing off about this being 300 jobs or whatever as if it mattered.

The same Brian Cowen who cancelled a trade mission to China, FFS.

Anyway, I'd guess you see where I'm coming from - I'd guess we probably don't disagree substantially (I just felt a great need to type it all out;)).
 

hammer

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I only wish the DOF would get some businessmen if from all sectors and listen to their concerns.

My belief is that entrepeneurs "stung" in this depression will give up. Credit rating destroyed and the possibility of employing people again slim.

Thanks for the discussion :)
 

ManOfReason

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For me, this is the only thing keeping the night-sweats at bay:

 


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