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Q3 National Accounts


Taxi Driver

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If there was bad news we can be sure that these would be posted well before now. From Table 3 we can see that compared to Q3 2011, GDP is up 0.8% and GNP is up 3.7%. Consumption is even slightly up on last year with Investment up by 8.8%. Exports are up on the year, as are imports, with an overall rise on Net Exports. Only Government is down.

It will take a bit of effort to knock these so here is your opportunity.

http://www.cso.ie/en/media/csoie/releasespublications/documents/economy/2012/qna_q32012.pdf
 
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hammer

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You know that it is bad form posting good news. Watch how this thread is avoided :)

We are getting there............not as fast as we would like............but DELUDED FF left some hole behind.
 

potholedogger

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You know that it is bad form posting good news. Watch how this thread is avoided :)

We are getting there............not as fast as we would like............but DELUDED FF left some hole behind.
But these figures cannot be right!

Peadar Tóbín said that Austerity cannot work.

He reckoned the Government should spend more money it has not got to support the economy and maintain 40,000 jobs that are dependent on borrowing money annually to sustain them.


Most of the Lefties reckoned Peadar is right.

Could it be that balancing the books gradually stimulating private investment can actually make the economy grow Peadar?

Some one should tell Peadar that Gerry Adams wanted to send back all the bailout money only a while back, all €85 billion of it! That would have cost hundreds of thousands of jobs.

The big lefty lie that needs to be nailed is that what they call Austerity will work. Real Austerity is what would have if Gerry had his way and sent back the €85 billion.
 

hammer

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When did you listen to a SF financial spokesperson and not laugh out loud ?

They have a magic money tree somewhere, or access to a rainbow :)
 

hammer

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I`m also hearing that gadgets for Xmas are selling out, spending is higher than last year and the charities cannot believe the level of support they are getting this Xmas from ordinary individuals.

Happy Xmas to one and all ( bar a few notable exceptions !!! )
 

clearmurk

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D

Dylan2010

The national debt is still compounding faster than any income growth calculations, nothing has changed.
 

Kevin Doyle

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But these figures cannot be right!

Peadar Tóbín said that Austerity cannot work.

He reckoned the Government should spend more money it has not got to support the economy and maintain 40,000 jobs that are dependent on borrowing money annually to sustain them.
Not knocking the figures but you do know the Government is still spending and borrowing?


Most of the Lefties reckoned Peadar is right.

Could it be that balancing the books gradually stimulating private investment can actually make the economy grow Peadar?
Lefties? Its the RWers who want to gut spending, as fast as possible, not gradually. You must be left of centre so?

Also what stimulus for private investment are you talking about?
 

Analyzer

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We are borrowing how much per week to make this look this good ?

And it only works, because we are seeing a massive contraction in imports (with a large proportion of this due to declining motor sales).

Our debts are becomming increasingly unsustainable.
 

Analyzer

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We are borrowing from tomorrow to make today look good.

I would term that "Bertonomics"
 

H.R. Haldeman

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We are borrowing from tomorrow to make today look good.

That's true, but I for one don't know whether spending €1b+ of borrowed money per month is big enough as a %age of the entire economy to shift the numbers in OP from unfavourable to favourable. Would be good if one of the economists in our midst could comment.
 

Kevin Doyle

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Analyzer

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That's true, but I for one don't know whether spending €1b+ of borrowed money per month is big enough as a %age of the entire economy to shift the numbers in OP from unfavourable to favourable. Would be good if one of the economists in our midst could comment.
Lets see what Constantin Gurdgiev has to say.

True Economics

"Domestic demand has continued deterioration over the first 9 months of 2012, so domestic economy is still contracting overall:".

My interpretation of what we are seeing.

The main element of the current shift, is a decline in imports relative to exports. Despite a rise in GNP, domestic demand is still decreasing.

And the largest domestic element in consumer imports, motor car sales. The main factor here is a retraction in credit for auto sales, and declining incomes feeding into reduced sales. In effect, we might be seeing a postponement of purchasing. At a micro level, consumers are not buying new cars, or as much motor fuel. Some element of this may be due to the high level of unemployment in the economy. But mostly it is in an effort t sort out personal finances.

Effectively, the Irish people are trading themselves down, to get through tough times. And also to sort out their own balance sheets. This is what is showing in the statistics. Nothing to do with government policy.

Overall this reduces the statistics for domestic demand and imports.

Full analysis will follow later tonight, on Constantin's website.
 
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Analyzer

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GNP is more accurate than GDP for most Irish people, because GNP takes account of the role of transfer pricing in the MNC sector.
 

Kevin Doyle

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Lets see what Constantin Gurdgiev has to say.

True Economics

"Domestic demand has continued deterioration over the first 9 months of 2012, so domestic economy is still contracting overall:".
So is Gurdgiev one of these 'left wingers' cited above that claims Austerity doesn't work?
 

Kevin Doyle

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GNP is more accurate than GNP for most Irish people, because GNP takes account of the role of transfer pricing in the MNC sector.
You might need to edit that post Analyzer.
 

daveL

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our debt is growing faster than our economy

ergo unsustainable
 
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