Good news for Ireland, US exits recession!

ei.sdraob

http://www.irishtimes.com/newspaper/breaking/2009/1029/breaking43.htm

and

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4broHt1tufU



US is a bigger trading partner for exports than UK&NI

http://www.cso.ie/statistics/botmaintrpartners.htm


this is good news for the country (and my own US exporting enterprise)

jimmmy

I hate to be a pessimist - and look on the negative side , as I am usually a positive thinker / person - but the reality is that oil and interest rates will go up when the rest of the world economy recovers sufficiently. That will have a big impact on our economy ; methinks more than any benefit from an increase in our exports , but I hope I am wrong.

ei.sdraob

i agree but lets be optimistic for once

if when interest rates rise people/institutions in debt get screwed

tho exporting externally is the only way for a small economy to earn money, any increase in exports would be good

the alternative is to continue borrowing money and "stimulate" the dole and PS recipients to be more productive, something thats not happening

The Monkey Pump

jimmmy wrote: »

I hate to be a pessimist - and look on the negative side

:rolleyes:

jimmmy

The Monkey Pump wrote: »

:rolleyes:

Interest rates now in Europe are at historically low levels....if / when interest rates double - as they probably will , how do you think that will affect things ? Are many people now claiming to be in difficulties with their mortgages as it is ? Not to mention the cost of borrowing the 25 billion a year we currently are ? And if oil goes back well over 100 dollars a barrell ?

population

This is purely because of the stimulus packages. 2 successive quarters means coming out of recession. This is just one quarter so I do not understand why this is being put out as coming out of recession?

I expect a double dip in the next few months

bauderline

Just goes to show... if you throw enough money at something....

ei.sdraob

bauderline wrote: »

Just goes to show... if you throw enough money at something....

you mean if you print enough money

west101

population wrote: »

This is purely because of the stimulus packages. 2 successive quarters means coming out of recession. This is just one quarter so I do not understand why this is being put out as coming out of recession?

I expect a double dip in the next few months

3.3% growth is an awfull big jump especially coming out of recession, if it dips to negative growth in the next quater that really would be catatroshic

AARRRGH

I'm sorry to be all negative, but didn't the US government pump hundreds of billions into the economy between July and September?

I bet you that is the reason for the growth, and there will be an unexpected return to the recession next quarter due to them no longer inflating their economy.

When it turns out I am correct, ask yourself how an IT guy knows more than nearly every other economist.

Heroditas

Let's see what happens over the Thanksgiving weekend, usually the busiest shopping weekend of the year in the US.
That should be a very good indicator as to consumer confidence. GDP figures based on stimulus packages can be massaged, till receipts can't!

AARRRGH

population wrote: »

This is purely because of the stimulus packages.

Oops, you beat me to it. :pac:

puffdragon

west101 wrote: »

3.3% growth is an awfull big jump especially coming out of recession, if it dips to negative growth in the next quater that really would be catatroshic

Hold up there cowboy! 1.7% of this is directly the result of the" cash for clunkers" scrappage scheme the rest is money printing!!

AARRRGH

puffdragon wrote: »

Hold up there cowboy! 1.7% of this is directly the result of the" cash for clunkers" scrappage scheme the rest is money printing!!

And I believe the "cash for clunkers" scheme has just ended? Uh oh...

puffdragon

I wonder how long It'l be before the Americans get sick of Obama ,after propping up the economy the dole queues are still as long as ever,the worrying thing about America is that they carry personal weapons,

After fighting a pointless war for oil fields that are about to run out of oil.

And faced with promises to keep on carbon reduction which would necessitate buying cars from the Chinese who have bought up all the rights to the lithium mines to produce batteries needed for those cars and with china being so far ahead in the technology in that field which would decimate the American car industry anyway, how long before a revolution over there, good choice though (if your a conspiracy theorist) to have a black president to keep the most potentially violent at bay!

The only good news for Ireland is that we live in a country where we can grow our own food if we're stuck!!

Sand

It is good news for Ireland. Anyone with a bit of ambition and looking for a job will know where they need to go to get a job..

Meanwhile the cold war between the Irish labour cartels and the PAYE taxpayers will continue.

puffdragon

Sand wrote: »

It is good news for Ireland. Anyone with a bit of ambition and looking for a job will know where they need to go to get a job..

Meanwhile the cold war between the Irish labour cartels and the PAYE taxpayers will continue.

Its fair to assume that there is no real advantage to be gained from emigrating to America at the moment as there are no lower skilled construction jobs on the market there and the next level engineering jobs are also hard to get ,
So lets move on to IT jobs , as far as I can see if you want a job in computing or software development then your probably better off staying at home ,thanks to the nature of the business itself it doesn't matter what part of the world your in!

So it boils down to which country makes you pay the less tax and I suppose on that scale we dont fare very well! Also thers the "standard of living" to consider.

Captain Furball

ei.sdraob wrote: »

http://www.irishtimes.com/newspaper/breaking/2009/1029/breaking43.htm

and

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4broHt1tufU



US is a bigger trading partner for exports than UK&NI

http://www.cso.ie/statistics/botmaintrpartners.htm


this is good news for the country (and my own US exporting enterprise)

Lol sure it does...................

omahaid

Looking good for the U.S - "US economy in fastest growth rate for six years"

http://news.bbc.co.uk/2/hi/business/8487611.stm