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Post by Papa C. on Jun 24, 2008 10:29:43 GMT
Ireland facing first economic recession since 1983
24/06/2008 - 07:18:59
The Economic and Social Research Institute has warned that Ireland is facing into its first economic recession since 1983.
In its latest assessment, the ESRI says it now expects GNP to fall by 0.4% this year, with unemployment set to hit 7% by next year.
It is also predicting a return to net emigration, with 20,000 people expected to leave the country next year in search of work abroad.
The ESRI says the difficulties are emanating from the housing sector, but will affect all sectors of the economy.
Labour Party TD Joan Burton says the Government must take the blame for the situation due to its mismanagement of the housing market in recent years.
"They took the brakes off, they encouraged speculation and they encouraged a housing boom that was both unrealistic and unsustainable," she says.
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Post by Papa C. on Jun 24, 2008 11:02:48 GMT
Ireland's 'tiger boom' (a boom of which only some have benefited) was built by an increase in construction and an increase in cheap labourers coming into Ireland and spending money on rent, mortgages, living costs and everything else involved. If there are no jobs in construction. Many will leave and this could lead to a spiraling drop in the economy.
The UK is going through a similar economic downturn and they are very worried. This happened in the 1990s and many white collar workers including those who's jobs were dependent on the construction industry, such as solicitors, lost their jobs and homes over it.
There are a lot of people who are dependent on the construction industry including carpenters, plumbers, brikies, electricians who may have watched their companies grow only to have them start to lose a lot of business in the next year or two. Unsure times ahead, maybe people might start looking into the idea of a workers republic. When capitalism goes through hard times the working class are first to suffer. I don't think TDs will be taking any pay cuts just yet. Do you?
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Post by Papa C. on Jun 24, 2008 11:11:50 GMT
This has been in all the mainstream (Government funded) news papers (the same ones that called the 1916 rising a criminal act and called for the execution of it's leaders) so I'm just thinking this might be a ploy to get people to vote 'yes' on the second Lisbon treaty - 'for jobs and the economy'. Getting an early head start like the British Government with the GFA.
If people think they're going to lose their job, they might vote 'yes' in order to help the economy so it has less of a bang after the boom. Clever politicians pulling strings to get their preferred result perhaps?
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Post by anticapitalist on Jun 24, 2008 22:18:13 GMT
Great posts and analisis of the situation, i never looked at it like that, they might be using this so called economic crisis to scare monger, into forcing the yes vote.
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Post by Papa C. on Jun 24, 2008 22:37:02 GMT
I find that there's always an alternative motive when it comes to big breaking stories that have the power to change working class spending or voting habits. The ESRI is a Government organisation so I'm sure Brian Cowan and his cronies have their hand firmly on the shoulder of those in the ESRI.
I find it funny when the media call these organisations 'independent government organisations'. If they're government organisations (paid by the government) then they're not independent. It's a good excersise in brainwashing though - building the belief that the Government are independent when really they are at war with working people in defense of the business class.
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Post by Stallit 2 de Halfo on Jun 25, 2008 1:40:11 GMT
Scary times ahead... Things can only go drastically down hill in the next 10 years. The Trucker and fishermen strikes are just the beginning of a system waking up to the reality of ever increasing oil prices. Modern industrial civilization revolves around oil. I often wonder (probably well too early for me to be thinking such things) where and what situation ill be in in my 60s or 70s. I look at how old people are treated now, how they have foreign carers looking after them in newly constructed and furnished homes or what not. How there is plentifull of medicine and food. Or how the elderly can drive to their local supermarket or doctor, or use an electric 'buggy'. I cant see any of this being here when im older, nor do i think ill see any sort of socialism in my time. God knows what is in store for us. Mass starvation, poverty, war and barbarism is what I see coming in the next 30-40 years or so in Ireland. And thats leaving aside global warming or what will occur elsewhere. How lucky a time our parents live, or that we live now. They can go fly off to spain or australia, or retire in a villa someplace hot. Again, none of this will exist very soon. Some form of socialism is the solution, but nature dosnt have a conscience, and it really dosnt have to happen. Misery can be never ending. How depessing, and what a rant  |
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Post by Papa C. on Jun 25, 2008 10:35:02 GMT
Sweet jesus C1916 that's a very bleak view for a commie to have. First of all there is always going to be some sort of fuel to replace Oil. Do you think the capitalists are going to give up their oil power because it disappears? They will find other ways to control us through new forms of energy. We should be building support for some sort of revolution and making sure it takes place within our lifetime. Did James Connolly sit around and wait for the people to liberate themselves? No, he got up off his big Scotish arshe and made things happen. Education, activism. Working people take notice when activists educate and it is because working people don't have access to this sort of education in their daily lives. Call it ignorance, call it closed minds or closed eyes. Call it what you want but for us to reach and preach to the mass public is important. We are in small groups now but we should make sure that those groups grow and that we can reach the working people in some way.
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Post by Stallit 2 de Halfo on Jun 25, 2008 13:07:17 GMT
Im speaking technology wise. Yeah its bleak ;D but I dont see much change regarding it.
Thats the thing you know, there dosnt have to be an alternative to oil.
Unless they can turn the entire agricultural and distribution process to run on electricity or hydrogen, then where will we get our food?....sweating it out with a sickle and ox drawn plough is an option, but a serious regression.
The thing is that we really dont know whether electricity or other energy sources can practically replace the powerful diesel engine of a tractor or a truck. Even if we did it would require very radical changes in power production and massive advances in technology.
Regarding technology, we really just dont know what is or what is not possible, but holding out for imaginary undescovered technology is science fiction.
If there is no oil, then yes, of course the capitalists will have to give it up.
I agree entirely with you.
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Post by anticapitalist on Jun 25, 2008 19:27:39 GMT
Excelent stuff
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Post by Stallit 2 de Halfo on Jun 25, 2008 19:35:13 GMT
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Post by anticapitalist on Jun 25, 2008 23:51:31 GMT
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Post by Papa C. on Jun 26, 2008 9:48:12 GMT
Link didn't come down properly bud. Interesting site though. Especially these parts: www.thirdworldtraveler.com/Foreign_Policy/US_ForeignPolicy.htmlThird world traveler - 'an alternative to the mainstream media' - this is what we should be doing. We can do it but we need a large number of people administering the site. Daily news updates, articles, photos, videos, discussion etcetera... |
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