Is it me??

Pussyhands

This is what flooding everywhere with money does.

Inflation.

NSAman

Pussyhands wrote: »

This is what flooding everywhere with money does.

Inflation.

Problems come when it all has to be paid for...and that is coming in my humble opinion on a fast track way

carrollsno1

NSAman wrote: »

Problems come when it all has to be paid for...and that is coming in my humble opinion on a fast track way

How is it going to be paid for do ye reckon? Higher taxes for all or higher taxes for some?

wrangler

carrollsno1 wrote: »

How is it going to be paid for do ye reckon? Higher taxes for all or higher taxes for some?

Politicians aren't going to tax themselves out of a a job, they haven't dealt with the recession, they just kept borrowing, we've made no impression on paying for the Celtic tiger years.
Until someone shouts stop, this'll probably be the same

timple23

wrangler wrote: »

Politicians aren't going to tax themselves out of a a job, they haven't dealt with the recession, they just kept borrowing, we've made no impression on paying for the Celtic tiger years.
Until someone shouts stop, this'll probably be the same

Nearly 41 billion owed from bailout, small money compared to the cost covid has had on the countries finances.

https://www.irishtimes.com/business/economy/state-makes-final-payment-on-3-2bn-bailout-loan-from-britain-1.4520919

wrangler

timple23 wrote: »

Nearly 41 billion owed from bailout, small money compared to the cost covid has had on the countries finances.

https://www.irishtimes.com/business/economy/state-makes-final-payment-on-3-2bn-bailout-loan-from-britain-1.4520919

Pachal Donoghue said a couple months ago that our national debt was €220 bn.
That equates to about €40000 per person

carrollsno1

wrangler wrote: »

Pachal Donoghue said a couple months ago that our national debt was €220 bn.
That equates to about €40000 per person

Best way to get on is to get out so by the looks of it.

richie123

By the end of 2021 our national deot will be close to 240 billion euros.
Let me put it another way..its basically a quarter of a trillion euro.

One quarter of a trillion.

All it will take is for interest rates to rise just a small bit.

patsy_mccabe

Its amazing how countries get themselves in to more and more debt, yet the politicians who make these decisions retire on pensions worth millions, passing the buck on to the next generation to pay off.

NSAman

Borrowing is easy, repaying is damned difficult.

Politicians are ruining the futures of all, passing debts to children and their children’s children, spending money recklessly when anyone with sense would know you spend carefully.

If WE ran our own finances the way our governments are running finances we would be living on the streets. What ever happened to cautious spending and accountability?

Sorry for the rant, but seeing prices skyrocketed where I live and back at home, is worrying in the extreme.

farawaygrass

Politicians are caught in a very tricky place regarding finances. If a government in the morning spent very frugally they would be voted out the next time as Mary, pat and joe would be angry at lack of spending. Majority don’t care about the national debt once their needs as met.
Look at how ff bought elections down through the years with tax cut and spending increases.
If half the waste was stopped alone it would be a good start.
Other thing is is that nearly every nation on the planet is deeply in debt. Ireland is 25th in the list of most in debt countries, and when you look at the countries around the same, Ireland seems to have a better standard of living.
New Zealand has actually very low debt.
Take America-the powerhouse in the world. Their debt is colossal.
What I can’t understand is who is lending all the money? Is it countries lending to each other trying to make money on interest?

wrangler

patsy_mccabe wrote: »

Its amazing how countries get themselves in to more and more debt, yet the politicians who make these decisions retire on pensions worth millions, passing the buck on to the next generation to pay off.

Like wise the civil servants, the government has to have them in on this willfull waste. there was a good program about the waste in the Office of Public works last week and it was bordering on fraud. there's billion being ''mislaid ' every day.
That's the reason contractors can do what they're doing in the National Childrens Hospital. The government are only passing through, they'll never have to be responsible for the cockups........ all they have to do is apologise for previous government and pay out any compensation applicable from our tax money

jaymla627

farawaygrass wrote: »

Politicians are caught in a very tricky place regarding finances. If a government in the morning spent very frugally they would be voted out the next time as Mary, pat and joe would be angry at lack of spending. Majority don’t care about the national debt once their needs as met.
Look at how ff bought elections down through the years with tax cut and spending increases.
If half the waste was stopped alone it would be a good start.
Other thing is is that nearly every nation on the planet is deeply in debt. Ireland is 25th in the list of most in debt countries, and when you look at the countries around the same, Ireland seems to have a better standard of living.
New Zealand has actually very low debt.
Take America-the powerhouse in the world. Their debt is colossal.
What I can’t understand is who is lending all the money? Is it countries lending to each other trying to make money on interest?

We are the third most indebted country worldwide only behind America and Japan on a per capita basis, the america fed is simply just printing money at the minute their is nothing backing it only market sentiment

farawaygrass

jaymla627 wrote: »

We are the third most indebted country worldwide only behind America and Japan on a per capita basis, the america fed is simply just printing money at the minute their is nothing backing it only market sentiment

I don’t believe that is correct but I’m only going on my own google search. We aren’t in the top 20 even

richie123

Back in the recession economist colm Mccarthy was brought in to a new quango, an bord snip nua.
The one and only quango worth having.
It should have being continued and its findings implemented every year.
Democracy is flawed ina sense because politicians are constantly looking over there shoulders.
Therefore its pretty much impossible to do the right thing.
Then you have devious ****ers like bertie ahern who bought 3 elections with our taxes through social partnership.
Were still paying for that to this day.
It stinks to high heaven.

richie123

richie123 wrote: »

Back in the recession economist colm Mccarthy was brought in to a new quango, an bord snip nua.
The one and only quango worth having.
It should have being continued and its findings implemented every year.
Democracy is flawed ina sense because politicians are constantly looking over there shoulders.
Therefore its pretty much impossible to do the right thing.
Then you have devious ****ers like bertie ahern who bought 3 elections with our taxes through social partnership.
Were still paying for that to this day.
It stinks to high heaven.

You'd love this guy

kerryjack

Great tread guys and some interesting stuff, not an educated lad but I watch alot of documentarys,I love history, love WW2 stuff and what went on. Not so long ago as well, mad stuff what did happen and could happen again. It amazing me how everything was put back together in a short space of time, like Europe was in ruins must have been a massive building boom back than, out of that war came great technologys and engineering and they reckon out of this covid will come advancement in medicine that the world will ever see. We will be taking a tablet shortly with our cornflakes that will tell us what's going on in our bodies and if they is anything wrong with you they will be another tablet to fix, simple as that. Interesting stuff, like plugging the car into the computer.

roosterman71

Ye should listen to Futureproof. This weekend the programme was about medicine and medical advancements and what the future holds. We're very close to being able to have personal medical care instead of the one size fits all approach we have today. Ya'll probably get it on Newstalk as a podcast. Always an interesting show.

Back on topic and the huge price rises and debt mountain. It was only Friday evening that the 1980 episode of Reeling in the Years was on. And the first clip is Haughey giving his address about us "living way beyond our means". 40 years ago now and we're still doing it. Debts have gone up but we're still chugging away. I wouldn't worry about it

NSAman

Just came back from the DIY store here... if any further proof was require of inflation...

Sub-Flooring boards, pre-Covid $14.99-$15.99 .. today... $52.57

All timber has gone through the roof price wise. Needed An 8ft 4x4 usually $9 or so, today $22.35

Needless to say, DIY on hold with those prices.

Stihl waters

NSAman wrote: »

Just came back from the DIY store here... if any further proof was require of inflation...

Sub-Flooring boards, pre-Covid $14.99-$15.99 .. today... $52.57

All timber has gone through the roof price wise. Needed An 8ft 4x4 usually $9 or so, today $22.35

Needless to say, DIY on hold with those prices.

Same here in Ireland, all steel gone up by 30 percent since xmas and most building supplies gone up as well not to mention the price of fert and machinery, it's a bad sign when you see the price of horses and machinery rocket in the space of a few months

patsy_mccabe

Chadwicks are mad busy buying out hardware stores in the Limerick Clare area. That's not good.

French Toast

Talking to a man today that says blocks are gone up a good percent as well. Anyone going to build a house in the next while would need to re-do the sums.

timple23

I wonder will gold prices keep dropping, then shoot up when recession hits. Might be worth investing.

SuperTortoise

Gold is always the go to when a recession is looming, been meaning to start investing for years, might try a bit soon.

lab man

patsy_mccabe wrote: »

Chadwicks are mad busy buying out hardware stores in the Limerick Clare area. That's not good.

Where have they bought I know they have market hardware with a few years patsy

patsy_mccabe

lab man wrote: »

Where have they bought I know they have market hardware with a few years patsy

They bought Heiton Buckleys in Limerick. Just heard today that the other place they supposedly bought , was only a rumour. Maybe an April's Folo joke. Ooops. :rolleyes:

kollegeknight

A mate that’s a carpenter was saying that the material for a roof was around 10k 6months and is now 14k. He was planning on building a house but materials gone mental on him.

kerryjack

It's gone back to the good ould days again when lads are pricing work, Think of a number and add a couple of noughts on to it. Greed and gluttony, Thinted windows Range rovers,ccocaine and hoores and horses are all back God help us all.

NSAman

kerryjack wrote: »

It's gone back to the good ould days again when lads are pricing work, Think of a number and add a couple of noughts on to it. Greed and gluttony, Thinted windows Range rovers,ccocaine and hoores and horses are all back God help us all.

Jaysus Nothing wrong with Range Rovers...;)

wrangler

NSAman wrote: »

Jaysus Nothing wrong with Range Rovers...;)

Have you a Range Rover, I wouldn't mind treating myself to one,
Huge depreciation from new but not bad value at 7 or 8 year old.

anheneti

patsy_mccabe wrote: »

They bought Heiton Buckleys in Limerick. Just heard today that the other place they supposedly bought , was only a rumour. Maybe an April's Folo joke. Ooops. :rolleyes:

They both belong to the Grafton group and have been the same company for nearly 20 years

SuperTortoise

The local Heaton buckley was rebranded to Chadwicks about 16 months ago, i heard they bought out the heaton group.

Stihl waters

kerryjack wrote: »

It's gone back to the good ould days again when lads are pricing work, Think of a number and add a couple of noughts on to it. Greed and gluttony, Thinted windows Range rovers,ccocaine and hoores and horses are all back God help us all.

You needn't go as far as the lad pricing the work, the cost of tractors and machinery is gone mental as well, lads buying livestock for silly money, lads in dealer boots and the gelled hair with the navy sleeveless jackets starting to call around again looking to buy machinery, I'm in the market for a jcb 2cx or farm special and they've gone through the roof with the last 12 months, I'll leave it a while until they become better value

timple23

Stihl waters wrote: »

You needn't go as far as the lad pricing the work, the cost of tractors and machinery is gone mental as well, lads buying livestock for silly money, lads in dealer boots and the gelled hair with the navy sleeveless jackets starting to call around again looking to buy machinery, I'm in the market for a jcb 2cx or farm special and they've gone through the roof with the last 12 months, I'll leave it a while until they become better value

Was tempted about buying a tedder, approx 9.5k, maybe 100ac/yr, decided against it. Would only do two 10ft swards, new plan is to get another haybob. Have the tractors and the manpower, I'd be fairly sour looking at a machine that would only be used 6/7days every year..

jimmy G M

timple23 wrote: »

Was tempted about buying a tedder, approx 9.5k, maybe 100ac/yr, decided against it. Would only do two 10ft swards, new plan is to get another haybob. Have the tractors and the manpower, I'd be fairly sour looking at a machine that would only be used 6/7days every year..[/Quote

Would you consider a good second hand one @ circa €3.5k ? There's little enough to go wrong with them as long as they are not abused. As you say only used 6 or 7 days in the year but silage making is one of the biggest costs on any farm so important to get as good as possible...... On my radar to get a 4 rotor one next year.....

timple23

timple23 wrote: »

I'd be fairly sour looking at a machine that would only be used 6/7days every year..

I should never have bought that lidl chainsaw

ruwithme

timple23 wrote: »

Was tempted about buying a tedder, approx 9.5k, maybe 100ac/yr, decided against it. Would only do two 10ft swards, new plan is to get another haybob. Have the tractors and the manpower, I'd be fairly sour looking at a machine that would only be used 6/7days every year..

That's the reason you will find out the hay bobs after getting a bit dearer too.

The biggest deja vu moment for me has been the "we back brave" and "begin" advertisements by the major banks.

Like compulsive gamblers that understand they can slip in to the overdraft of state bail outs to fund their gambling the major banks are at it again.

[Deleted User]

[Deleted User] wrote: »

The biggest deja vu moment for me has been the "we back brave" and "begin" advertisements by the major banks.

Like compulsive gamblers that understand they can slip in to the overdraft of state bail outs to fund their gambling the major banks are at it again.

Credit unions are giving out unsecured loans to farmers upto 50K over 7 years.....you dont even need to be a member



Utter maddness,thankfully my local one isnt doing this scheme

duffysfarm

try getting a loan from BOI. Would be quicker going in and robbing the place

Deleted User wrote: »

The biggest deja vu moment for me has been the "we back brave" and "begin" advertisements by the major banks.

Like compulsive gamblers that understand they can slip in to the overdraft of state bail outs to fund their gambling the major banks are at it again.

funkey_monkey

Looked into building a shed onto the side of an existing one. Got a bit of a fright when the price came in.
We'll do without until prices drop or it becomes an absolute necessity.
I just wonder how much will they drop when the economy kicks back into gear again after Covid.

wrangler

funkey_monkey wrote: »

Looked into building a shed onto the side of an existing one. Got a bit of a fright when the price came in.
We'll do without until prices drop or it becomes an absolute necessity.
I just wonder how much will they drop when the economy kicks back into gear again after Covid.

You'll be waiting a while for prices to drop, huge demand now for Tams work.
A neighbor is trying to get quotes at the moment with little success,

Nekarsulm

Deleted User wrote: »

Credit unions are giving out unsecured loans to farmers upto 50K over 7 years.....you dont even need to be a member



Utter maddness,thankfully my local one isnt doing this scheme

Our local Credit Union had limited deposits to something like €20,000.
They now have a sign up at the hatch saying you cannot lodge more than €500 a week.
When I asked why, the lady told me that they have so much money on deposit in the AIB, at a negative interest rate, it costs them a lot of money every month.
As a result of this they don't want any more money on their books...

amacca

Nekarsulm wrote: »

Our local Credit Union had limited deposits to something like €20,000.
They now have a sign up at the hatch saying you cannot lodge more than €500 a week.
When I asked why, the lady told me that they have so much money on deposit in the AIB, at a negative interest rate, it costs them a lot of money every month.
As a result of this they don't want any more money on their books...

That's been the case for quite some time. I personally find it frightening.....i understand that deposits cost them and the only real asset on the books now is the loan but ffs

What happens when those loans become non performing in the event of things going south

I wish we could get back to stable boring old low growth style economics where bankers are boring bastards instead of Jordan belfort early days wannabes and having money on deposit is an asset as it can be invested instead of this cyclical house of cards bull**** that's going on.

From my point of view things are going mad and it's going to end in tears again, wish the cycle could be broken

Stocks and shares are crazy over valued too imo.

There seems to be a fever on people to pay way too much for things beyond their value or even a very hopeful estimate of what the asset might realise and at the same time money seems to be worth less and less nearly weekly ....the pace doesn't bode well imo

funkey_monkey

wrangler wrote: »

You'll be waiting a while for prices to drop, huge demand now for Tams work.
A neighbor is trying to get quotes at the moment with little success,

We can wait. We are in NI and the price of steel has rocketed here due to a 25% import tax:
https://industryeurope.com/sectors/metals-mining/northern-irish-steel-imports-will-carry-25pc-post-brexit-tax/

Dinzee Conlee

Nekarsulm wrote: »

Our local Credit Union had limited deposits to something like €20,000.
They now have a sign up at the hatch saying you cannot lodge more than €500 a week.
When I asked why, the lady told me that they have so much money on deposit in the AIB, at a negative interest rate, it costs them a lot of money every month.
As a result of this they don't want any more money on their books...

I know there probably isn't a simple answer to this, but I'm going to ask anyways

What cures negative interest rates? Is it inflation? Deflation? Recession? What?

amacca

Dinzee Conlee wrote: »

I know there probably isn't a simple answer to this, but I'm going to ask anyways

What cures negative interest rates? Is it inflation? Deflation? Recession? What?

Uneducated opinion but I think what cures this situation is a collapse and people having to deal with reality.

Nekarsulm

Nekarsulm wrote: »

Our local Credit Union had limited deposits to something like €20,000.
They now have a sign up at the hatch saying you cannot lodge more than €500 a week.
When I asked why, the lady told me that they have so much money on deposit in the AIB, at a negative interest rate, it costs them a lot of money every month.
As a result of this they don't want any more money on their books...

May have to start burying money or the mattress again over this

Nekarsulm

Nekarsulm wrote: »

Our local Credit Union had limited deposits to something like €20,000.
They now have a sign up at the hatch saying you cannot lodge more than €500 a week.
When I asked why, the lady told me that they have so much money on deposit in the AIB, at a negative interest rate, it costs them a lot of money every month.
As a result of this they don't want any more money on their books...

got a letter out limiting to e100K or something


Gonna be alot of burgularies againest old people again over next few years,if banks etc start charging negative interest rates,.....

The government would want to step in and put a stop to the banks here,or set up a state scheme for deposits......it was attacking old people,around changeover to the euro,was what the dundons in limerick started at......

lads wont be long cottoning on to fact people have large sums of cash in their houses again

NSAman

Dinzee Conlee wrote: »

I know there probably isn't a simple answer to this, but I'm going to ask anyways

What cures negative interest rates? Is it inflation? Deflation? Recession? What?

Unfortunately the choices available to central banks are limited.

Simple analysis.. negative interest rates are cured by simply raising interest rates through the Fed or ECB.

Impacts.. are huge at the moment.

If they don’t raise interest rates you get inflation.

Where once interest rates were used to calm economies, the 0% interest rates mean that option cannot be used.

Add the fiscal stimulus world wide to this....you get inflation.

A very simple analysis from an untrained observer.