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Questions for the media on their failure during the Celtic tiger period


shiel

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Feb 14, 2011
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16,893
Why did the prevailing narrative in the newspapers and TV current affairs of the Celtic tiger period miss one of the biggest stories since independence i.e. the bankrupting of the country by the decisions of some of its most powerful citizens?

In fact the prevailing narrative in the newspapers and TV current affairs of the Celtic tiger period seemed to be one of satisfaction with the status quo.

Most of the media seemed to be happy that one political group was going to be in power ad infinitum.

There did not seem to be any concern in the media that an ordinary semi-detached somewhere in suburbia was selling for more than a chateau in a salubrious part of France.

The findings of tribunals cast a non-flattering light on the doings of the great and the good. Despite that back then much of the media were conducting a campaign against the mere existence of tribunals.

Have any lessons been learned or are we destined to repeat the mistakes?
 
B

Boggle

They will do it all over again with the next fad that drives their advertising revenue.
 

eoghanacht

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Apr 18, 2006
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33,340
You mean you had faith in the Irish media?
 

Dublin 4

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Feb 6, 2011
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Those "Mistakes" are repeated in the Sindo ad nauesem.
 

Schomberg

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Jul 6, 2009
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Yes yes, the media, the government, the banks...but what about the people? Seeing a cou0le loading a hot tube on top of their Megane outside Woodies in Cork summed up the whole thing to me. The people were loving it. Borrowing money like no tomorrow and now everyones complaining that no one stopped them?

Ireland's biggest problem is our refusal to face reality and the constant search for scapegoats. And the lack of any social responsibility. These are cultural problems so to answer your question are we destined to repeat the same mistakes, then definitely YES.
 

eoghanacht

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33,340
Yes yes, the media, the government, the banks...but what about the people? Seeing a cou0le loading a hot tube on top of their Megane outside Woodies in Cork summed up the whole thing to me. The people were loving it. Borrowing money like no tomorrow and now everyones complaining that no one stopped them?

Ireland's biggest problem is our refusal to face reality and the constant search for scapegoats. And the lack of any social responsibility. These are cultural problems so to answer your question are we destined to repeat the same mistakes, then definitely YES.

You really hate us Irish don't you, Hate the Irish love sweeping generalisations.
 
D

Dylan2010

newspapers just reflect public opinion, why credit them with a job they dont have? Essentially a newspaper is just like the shopping channel with some news attached. I'm sure in 99 they were telling you how great tech stocks were.
 

Schomberg

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You really hate us Irish don't you
ah go away you eejit. You saying the people didn't borrow money like no tomorrow and then complained no one stopped them? Did I mention the refusal to accept reality? ;)
 

eoghanacht

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ah go away you eejit. You saying the people didn't borrow money like no tomorrow and then complained no one stopped them? Did I mention the refusal to accept reality? ;)
And so easy to wind up.

Did I mention your fondness for sweeping generalisations, so who are these people that complained that no body 'stopped' them.
 

Spanner Island

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Feb 22, 2011
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24,203
Really?

You don't know?

This has been done to death...

Most of the media in Ireland isn't really objective or independent. And most of it benefited from the property madness which is why they cheered it on relentlessly...

Print benefited from advertising and by making huge wads of cash from their property supplements.

TV benefited from advertising and from being able to spew copious amounts of cheap to produce property programmes...

Radio benefited from advertising...

Have lessons been learned?

Nah... I honestly don't believe they have...

I believe the tossers who fueled it all are simply waiting in the wings and gagging to get it all kick started again. And because very few of those who wrecked this country have suffered any appropriate consequences, the potential is there to do it all over again...

The shambolic value based property tax our idiot riddled government are pursuing will help too...
 

Schomberg

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And so easy to wind up.

Did I mention your fondness for sweeping generalisations,
What sweeping generalisations do you disagree with?

so who are these people that complained that no body 'stopped' them.
:shock:

Are we reading the same forum?
 

skiii

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Nov 27, 2010
Messages
3,912
Whenever the property circus threatens to revive, they'll be salivating again. They are absolute whores and they follow the money, or what they see as the money, everytime. And they're not the only ones- it was sickening to watch the staff in local authority offices licking the bottoms of developers throughout the tiger years.
 
B

Boggle

Yes yes, the media, the government, the banks...but what about the people? Seeing a cou0le loading a hot tube on top of their Megane outside Woodies in Cork summed up the whole thing to me. The people were loving it. Borrowing money like no tomorrow and now everyones complaining that no one stopped them?

Ireland's biggest problem is our refusal to face reality and the constant search for scapegoats. And the lack of any social responsibility. These are cultural problems so to answer your question are we destined to repeat the same mistakes, then definitely YES.

The big problem in this country was the lack of counterbalance.

We were bombarded with advertising which has an effect on peoples behavior and neither the media nor the govt provided any sort of counterbalance to this. In fact, they were cheerleaders in chief so people had no chance.

I would suggest that, as part of the recovery, we should place a levy on all advertisements. I'd say there is good money t
 

eoghanacht

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Apr 18, 2006
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33,340
What sweeping generalisations do you disagree with?
The 'We all partied' bollix

:shock:

Are we reading the same forum?
I'm reading P.ie you're probably reading The Failed State Formerly Known as West Britain.ie :lol:

I have yet to see anyone use an excuse that 'nobody stopped me' when it came to talking about their debts.
 

Analyzer

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Feb 14, 2011
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46,201
Now is the time for the Ballsy guys to get into property....

Oh...hold on a minute.
 

JacquesHughes

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Feb 16, 2013
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1,124
There did not seem to be any concern in the media that an ordinary semi-detached somewhere in suburbia was selling for more than a chateau in a salubrious part of France.

The findings of tribunals cast a non-flattering light on the doings of the great and the good. Despite that back then much of the media were conducting a campaign against the mere existence of tribunals.
The Tribunals were part of the problem. They were looking at the wrong things, and looking at events, usually trivia, that took place some time ago, and paying lawyers a fortune to engage in adversarial jousting, and long lunch breaks, to get at the 'truth' [ ie the least efficient and most expensive way to get at anything].
Meanwhile real-time decisons involving billions of euros were being made by Government and banks in pursuit of high-risk, unfamiliar policies ALMOST WITHOUT ANY CRITICAL COMMENT, from the media or from opposition TDs.

One can only conclude, there has been an enormous failure of Ireland's political system and of Irish civil society in the noughties.
 

RichardDeClare

Active member
Joined
Feb 23, 2010
Messages
126
ah go away you eejit. You saying the people didn't borrow money like no tomorrow and then complained no one stopped them? Did I mention the refusal to accept reality? ;)
Not all the people did this, but all the people have to pay for it!!
 

Astral Peaks

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Joined
Nov 9, 2010
Messages
25,986
When you have headlines like this: House prices 'could fall another 20%' - The Irish Times - Tue, Jan 08, 2013
It shows nothing has been learned.
Look at the relationship between rental figures and purchase price and you will see that house prices still have a way to go.

The question which house buyers need to consider is why a prospective purchaser should pay 14 times an uncertain annual rental income for a residential property and face increasing restrictions on their ability to deduct interest expense against taxation plus the imminent arrival of water charges and residential property taxes? Especially when the same investor could invest in a property fund able to buy well-located commercial property let to high quality tenants for 10.4 times annual rent with unrestricted ability to deduct interest expenses against rental income.
Cormac Lucey

Commercial seems to have bottomed out though.
 
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