We're saving €61m a day (that's €500 for every adult)

highdef

"We're saving €61m a day (that's €500 for every adult)"

Well that's a very confusing title that initially led me to believe that every adult was somehow saving €500 a day!

dmigsy

JustAThought wrote: »

Don’t worry. Many many middle class hardworking people are already broken. Our male suicide rates are through the roof - men young and old who walk in despair down to sheds and rivers and kill themselves because they no longer have any hope. And our government dosn’t even bother to measure despairing Irish youth and families abandoning his country for a less crucifying regime elsewhere - one where half your salary and more isn’t taken in tax and stealth charges every month and where trying to pay a mortgage a basic house with a 2 or 3 hour daily round trip commute into work will bleed your bones dry ona managers salary.

I wonder who has saved this e500? People now getting double their normal working wage on the pup scheme? Or people living beside their mammies claiming they’re homeless getting 1000 dile a month plus benefits and paying twenty quid rent a week for a 3 bed house they will live in forever and shriek about their entitlements on the back of crucifying committed fathers & families working to pay their own way and not be a burden on society and the working poor paying 50% tax on every pound.

If by saying male suicide rates are 'through the roof' you mean 'generally declining year on year', you'd be right. Suicide is an important and sensitive topic. There's no detailed, reliable data available for 2020 yet. Claiming that rates are through the roof without any evidence is poor posting.

Actual numbers up to 2019 (report from Jan 21)


Source:
https://www.hse.ie/eng/services/list/4/mental-health-services/connecting-for-life/publications/nosp-briefing-jan-2021.pdf

Good piece on pandemic suicide increase claims:
https://www.thejournal.ie/suicide-ireland-august-claim-33-deaths-factcheck-5192698-Sep2020/

Rodin

dmigsy wrote: »

If by saying male suicide rates are 'through the roof' you mean 'generally declining year on year', you'd be right. Suicide is an important and sensitive topic. There's no detailed, reliable data available for 2020 yet. Claiming that rates are through the roof without any evidence is poor posting.

Actual numbers up to 2019 (report from Jan 21)


Source:
https://www.hse.ie/eng/services/list/4/mental-health-services/connecting-for-life/publications/nosp-briefing-jan-2021.pdf

Good piece on pandemic suicide increase claims:
https://www.thejournal.ie/suicide-ireland-august-claim-33-deaths-factcheck-5192698-Sep2020/

We hear all the time that suicide is increasing when really we're just hearing more about each case because of social media.
Too many people with an opinion don't back it up with evidence.
It's great that suicide is decreasing.

Gael23

Buddy Bubs wrote: »

In what way?

Construction closed for 5 months and cash ready buyers chasing scarce supply

Strumms

titan18 wrote: »

They can fcuk right off if they try to tax or take my savings.

If they tried that the sale of these would go through the roof...



Bank accounts would be practically emptied....

You get taxed on the money you earn, so what you get to keep and save would be taxed again too ?

869.87 million in overseas aid was spent by the government in 2019

Over 1.3 billion over 20 years was spent facilitating the arrival, welfare etc of people entering the asylum system here...

IF the pot is not sufficient enough to provide Irish people, Irish taxpayers with the revenue they need and the services and help demanded... we simply cut our cloth to meet our measure...

- limit or suspend overseas aid.

- limit or suspend the number of asylum applications that are processed here, so a person on arrival is told... “ we cannot accept your application, we are not in a position to...I’m sorry, here is a one way ticket back to your country of origin “

Mrcaramelchoc

Kivaro wrote: »

That money will be badly needed in order to pay the huge Covid bill when it becomes due. We are a highly indebted country, one of the most indebted countries in the world actually, and with our public spending going through the roof and projected to get a good deal worse, something has to break.

Thanks buzz

Wanderer78

coinop wrote:

Thanks for proving my point that the average Paddy is clueless about the stock market. Kindly see

Haha, my stocks are doing very well thanks, ive been involved for many years now. Again you'll find many average Joe's and Mary's aren't involved because they're already struggling to keep a roof over their head, similar story in the states

MadYaker

Kivaro wrote: »

That money will be badly needed in order to pay the huge Covid bill when it becomes due. We are a highly indebted country, one of the most indebted countries in the world actually, and with our public spending going through the roof and projected to get a good deal worse, something has to break.

Do people really think this is actually going to happen? Our government borrowing from a central bank is not the same as you or I borrowing from a credit union. There isn't going to be a bill. Go read about international economics.

But yeah I've never saved money in my life at the rate I've been saving in the last year or so, it's a good thing, all that pent up spending will help the economy.

Wanderer78

MadYaker wrote:

Do people really think this is actually going to happen? Our government borrowing from a central bank is not the same as you or I borrowing from a credit union. There isn't going to be a bill. Go read about international economics.

....Oh I wouldn't be getting too excited there, fiscal conservatives are in government, and they just love balancing their budgets, so....

lisasimpson

The will be a boom of some sorts after all this. Certain sectors will be dependant on the savers spending all this money hotels, resturants, beauty industry,car dealership etc. Should also go someway in reviving some of our towns and villages in rural ireland as people will be drawn to get more bang for their buck when buying a home outside the large cities esp if their employer allows for hybrid work situations.

coinop

MadYaker wrote: »

Do people really think this is actually going to happen? Our government borrowing from a central bank is not the same as you or I borrowing from a credit union. There isn't going to be a bill. Go read about international economics.

You're wasting your time trying to have a meaningful discussion about economics on Boards.ie. In my experience, very few understand the topic at all. The type to pat themselves on the back over their 50,000 euro tucked away in a Credit Union savings account, not realizing that the value of their money is being chipped away by inflation everyday. If you're not investing in the market, you're losing money. A poster above doesn't understand the difference between investing in individual stocks and index funds.

coinop

coinop wrote: »

You're wasting your time trying to have a meaningful discussion about economics on Boards.ie. In my experience, very few understand the topic at all. The type to pat themselves on the back over their 50,000 euro tucked away in a Credit Union savings account, not realizing that the value of their money is being chipped away by inflation everyday. If you're not investing in the market, you're losing money. A poster above doesn't understand the difference between investing in individual stocks and index funds.

And when you take your money out of the market, the Government will take half your profit in tax.

Geuze

MadYaker wrote: »

Do people really think this is actually going to happen? Our government borrowing from a central bank is not the same as you or I borrowing from a credit union.

The ECB does not lend to Govts. That does not happen.

You may be referring to QE, where the ECB buy Govt bonds in the secondary market.

Kivaro

MadYaker wrote: »

Do people really think this is actually going to happen? Our government borrowing from a central bank is not the same as you or I borrowing from a credit union. There isn't going to be a bill. Go read about international economics.

Well, that is a weird opinion. No bill?
From our Finance Minister today:

“The idea that deficits don’t matter, especially for a small economy without the possibility to print its own currency, is so far off the mark as to be dangerous in evaluating policy options in the future,” Mr Donohoe told an event organised by the Economic and Social Research Institute (ESRI).

Sounds like he was preparing us for tax increases in order to pay for the Covid bill, just like the Chancellor in the UK said yesterday.

Timistry

But hey, if you are earning and saving, they want to know where you got every penny you lodge. what a joke

Kid Charlemagne

titan18 wrote: »

They can fcuk right off if they try to tax or take my savings.

Even the Shinners woundnt be brazen enough to pull a stroke like this?

The Blueshirts raided our pension pots a few years ago mind so nothing would surprise me.

the Minister for Finance introduced a temporary Pension Levy of 0.6% of pension fund assets, payable for each of the 4 years 2011 - 2014 and an additional levy of 0.15% for 2014 and 2015. ... Therefore, in 2014 the levy increased to 0.75% and in 2015, the levy was 0.15%

https://www.pensionsauthority.ie/en/lifecycle/tax/tax_on_pension_assets/#:~:text=However%2C%20the%20Minister%20for%20Finance,%2C%20the%20levy%20was%200.15%25.

Kid Charlemagne

Timistry wrote: »

But hey, if you are earning and saving, they want to know where you got every penny you lodge. what a joke

Well to be fair I think thats more got to do with money laundering and tax evasion. As a paye worker (sucker) without any opportunity to pull a stroke ive never had any queries.

The One Doctor

Lucky to have no debt here, savings have risen in the last year, have a bit of a buffer in case of emergencies.

And, even luckier, we've already had coronavirus with mild or no symptoms. We live in a nice quiet rural area so lockdown isn't stifling, but I'd love to see my family more often.

zell12

titan18 wrote: »

They can fcuk right off if they try to tax or take my savings.

They already tax it, caller.

DIRT is charged at 33% on all interest payments
2019 the rate was 35%
2018 37%
2017 39%
2014-2016 41%
2013 33%

Govt will want people to spend their hoarded money in Ireland to boost economy.

zell12

TheJournal.ie commissioned a survey of saver or spender
Red C interviewed a random sample of 1000+ adults online 4-10 March 2021.
22% of people say income is down
65% say income the same
13% say income is up

68% of people saved their cash rather than spending it

Economists expect the unwinding of these built-up savings to contribute to a consumer boom towards the end of 2021 and into 2022, which could be a key factor in Ireland’s economic recovery.
“If a relatively large share of the 18-34 age category is saving, it means that some of that money may go towards the property market which may in turn lead to a pick-up in house price inflation.”

Bubbaclaus

It's going to get boomy out there lads

coinop

coinop wrote: »

For some inexplicable reason, the Irish are averse to investing in the stock market.

Probably due to the outrageous taxes on capital gains, while pension contributions are effectively untaxed.

Eric Cartman

Bubbaclaus wrote: »

It's going to get boomy out there lads

Travel and hospitality going to have a serious 12 month boom when all this is over , itll be short lived though

FlubberJones

Spent a big chunk of accumulated (not saved, I just never spent it, I was never trying to save) on a car this week,