A global recession is on the horizon - please read OP for mod warning

Jonnyc135

https://www.boards.ie/discussion/comment/119622492#Comment_119622492

So Electric Ireland are allowed to lie about their increases and the mainstream media are allowed to publish 'fake news' - certainly sounds like because my Elec unit price %increase was a hell of a lot more than they said too, and that's without their **** standing charges.

fliball123

https://www.boards.ie/discussion/comment/119622141#Comment_119622141

This is crazy stuff we will be spending 90.3Billion next year we have a little over 5.1 Million people living here and less than half of that working. This is absolutely crazy stuff. The FF/G lads are definitely lining up the shinners for a hospital pass. What will they do if our taxes take a nose dive? Talk about no planning its as clear as day SMEs are going to be cleared out in the next 12 months.

charlie14

https://www.boards.ie/discussion/comment/119611192#Comment_119611192

I never saw it as a runner anyway.

The only way to make up the shortage from Russian gas is LNG. Put a price cap on that and it would just be shipped to other countries outside the E.U. The only way they are going to get electricity prices down is to remove the marginal pricing policy and cap renewable prices. Those companies have been creaming it for years under both the E.U. marginal pricing and taxonomy policies.

timmyntc

https://www.boards.ie/discussion/comment/119621977#Comment_119621977

It will be a very polarising issue and could see the currency crumble, or else certain member states drop the Euro in favour of something new.

https://www.boards.ie/discussion/comment/119622285#Comment_119622285

That may well be what they do. Raise rates and print magic money to buy Italian bonds. Makes a mockery of the whole financial system. It will not be without side-effects though.

https://www.boards.ie/discussion/comment/119622480#Comment_119622480

So much energy is wasted by people who have money to speculate and piss it around. That in turn makes energy more expensive for the people who really need it - people who need it to heat their homes and cook their food. Low interest rates reward speculators and waste

AlmightyCushion

https://www.boards.ie/discussion/comment/119621787#Comment_119621787

Even with interest rates increasing we can still lower our overall interest payments. Some of the debt we will be rolling over this year and next year will be from debt raised 10 years ago when we were paying 5% or so. Rolling that over at 2% is worse than a year ago when it would have been closed to 0% but it is still better than the 5% we were paying.

fliball123

https://www.boards.ie/discussion/comment/119622714#Comment_119622714

This year we may get away with it but next year I think we will be close to 5% IR

Wolf359f

https://www.boards.ie/discussion/comment/119622492#Comment_119622492

They are quite sneeky, they say an average customers bill will increase by 26.7%. so they include the standing charges etc... In that calculation. So anyone using over the average will see a bigger increase. The energy companies really need to be more transparent with their pricing. We've had similar crap with dual pricing by insurance companies.

Yurt2

https://www.boards.ie/discussion/comment/119621337#Comment_119621337

The last Swedish government went full term, no collapse in government.

The British government is mid-term, no collapse in government.

Italy is Italy. Same sh*t for the last 30 years.

You don't have a rattlers about European politics and resort to Kremlinite swill.

I'll repeat, how many governments will collapse over the winter like you said, and which ones?

You made Billy big balls claims that Macron and Scholz will dissapear. Explain to us all the mechanism how that will happen?

Put it up. Cocks on the block.

Yurt2

https://www.boards.ie/discussion/comment/119621418#Comment_119621418

Newsflash: the ECB are raising interest rates.

Car99

https://www.boards.ie/discussion/comment/119622538#Comment_119622538

I did a bit more reading and what they said in their press release was the average bill would increase by roughly 27% from October which is true because while the unit price goes up 38.25% when you calculate the increase as a percentage of the total bill including service charge, pso levy and vat it works out at 27% which is what hits us in the pocket . But yea they are increasing unit price by 38.25% .

Here's what they said.

https://esb.ie/media-centre-news/press-releases/article/2022/09/01/electric-ireland-announces-energy-price-increases-effective-from-1st-october-202

Car99

Snap

EOQRTL

Speaking to a work colleagues husband there today who owns 2 restaurants in Dublin one in the city and one in Ranelagh. He's just had his slowest month since the return after the pandemic by some distance saying business is down by almost half. Combined with the rise in energy bills he thinks he'll be shutting his city centre business down before Xmas unless there is something drastic done in the budget. Apparently a lot of restaurants and pubs are now holding on until then before making a decision to stay open or not.

This is the engine of the economy beginning to collapse. SME's are in real trouble.

https://www.boards.ie/discussion/comment/119622944#Comment_119622944

They can keep going but markets ant euro doesn't react because ECB keep printing.Doctor simply treating drugs users by heroin.

So what the point killing Europe economy bringing rates up and keep printing supporting Italy and Co creating inflation?

The rate of euro didn't even fart after second lift.

Yurt2

https://www.boards.ie/discussion/comment/119622997#Comment_119622997

Do you understand what interest rates are?

Serious question. Because everything you've posted points to you not having a bean. You're embarrassing yourself.

You're obviously posting here day-after-day trying to convince people of something. How do you intend to convince anyone with relentless a-factual idiocy?

And I'll go back to the other question that other posters deserve and answer to, how many governments will collapse and which ones?

Car99

There is only one government with one monetary policy in the EU. It doesn't matter what governments collapse , Brussels pulls the strings.

dollylama

https://www.boards.ie/discussion/comment/119622968#Comment_119622968

We're in a different industry, the built up demand is as high as ever yet sales have collapsed since the builders holidays at the end of August! Many still want to build and spend but with the fear of the unknown between now and Christmas... people are left wondering do I spend this free cash I have now or should I hold it incase I get an insane electricity bill next week.

SME's in every industry are F*CKED and there's no one to turn to. Even the fittest companies are carrying debts with lenders and warehoused liabilities with Revenue from 2 years of OTT lockdowns and it's all gonna rear it's head with a bang over the next 6 months. And that's without even looking at the inflationary pressures choking them.. electric bills that may as well come with locks for the door, fuel at rates unseen and still not acknowledged in the supply chain, part shortages, Brexit fallout.

The EU / the State would want to be sitting with the lenders and the Revenue commissioners - yesterday - and saying leave the SME's alone for the next 12 months and we'll guarantee it.. otherwise there's going to be widespread carnage... a welfare bill that'll bankrupt us, bank books that'll bankrupt them and no working people left in the country to pick up the pieces when it's all over

https://www.reuters.com/world/europe/eu-chief-vows-halt-funding-democracy-offenders-2022-09-14/

The new parliament of Sweden were nationalists won gona put veto on this Ursula decision.

https://nationalinterest.org/blog/buzz/will-hungary-block-finland-and-swedens-nato-membership-bids-203413

Will Hungary hit back to Ursula supporting Sweden nationalists for neutral status of Sweden ?Who know but Sweden nationalists already against Sweden NATO membership

https://www.government.se/government-policy/swedens-eu-presidency-2023/

In 2023 Sweden nationalists government gona hold EU presidency of Council of the EU.

It's took around 14 years for Sweden nationalists to come to power.Thanks to Sweden government Russophobe and liberal "values" they did it well.Who is next ?

https://www.tvpworld.com/62761783/polish-sejm-passes-resolution-calling-on-germany-to-accept-responsibility-for-wwii

Poland seeking reparations from Germany.Not much,only 1.3 trillions euros.

The Fun in EU starting! Let's wait when people will start come on streets! Governments will falling like leaves of trees.

I don't think EU left much time before it will collapse.

Yurt2

https://www.boards.ie/discussion/comment/119623091#Comment_119623091

Put it up, when will the EU collapse Nostradamus? Give us a month, a year. You're so confident it's imminent, you shouldn't be shy about telling us when.

Infinitely more likely: by the time of the spring thaw on the Don, a certain Russian creep finds himself in the basement of the Lubyanka building in shackles. And his creep supporters in the West weeping into their keyboards.

Yurt2

@Revolution 1917

And by the way, it's actually more likely the Sweden Democrats will be sitting outside government with a minority government formed by the Moderates and Centre Right.

So you can cool your salivating on that front also.

Wolf359f

https://www.boards.ie/discussion/comment/119623091#Comment_119623091

How will Sweden veto it when it's a majority decision?

Yurt2

https://www.boards.ie/discussion/comment/119623187#Comment_119623187

He doesn't understand European politics.

He's a self confessed consumer of utter boll*cks on Twitter. The above is lost on him.

He thinks he's "in the know' but displays a grasp on facts of a paraquet.

brickster69

Bloody hell ! Comrade Scholtz going full communism now. Another 2 utility companies going to be possibly nationalised.

Difficult to see any gas producers doing business with him after he cancelled a pipeline just as it was completed.

https://twitter.com/JavierBlas/status/1570451902093205505

Tonesjones

Working hard and constantly improving in my field but year on year quality of life seems to get lower.

Housing too expensive

Savings eroded

Bills inflating

Running in the endless rat race. See empty expressions of fellow worker drones on the bus ,train and street everyday

Etc

At this stage I don't think I'd be too bothered to see the whole thing come apart at the seams.

SuperTortoise

https://www.boards.ie/discussion/comment/119621031#Comment_119621031

Global finances is just one giant pyramid scheme, at some stage it will collapse, the only reason it's still going is because people don't know about it/don't want to know about it.

This recession will be different to the one in 2008, in 2008 energy prices were stable, input costs for farmers were stable and it was largely farming that kept things ticking over, this time you have a perfect storm, run-away inflation, energy prices, net-zero, war, food supply shortages to name a few.

We are the second most indebited country in the entire world, second.

Spending our way out just is'nt an option, even if it were an option the resulting inflation would cripple us for a generation.

https://www.boards.ie/discussion/comment/119622968#Comment_119622968

Was permanently buying great kebab from local take a way in town for 5 euros.Since mess with inflation started the owner of the spot brought price up to 6.50.

The last time I bought it the quality were s.t ! Cold chips,tea spoon of souce and small piece of something which reminded me lettuce.

Since that day I stopped buy there and forgot that place.We are now cooking at home because no more alternative food left in take a ways.

We also stoped buy pica from place with very sound name in Ireland for same reason.The only place were we still buying food for kids is McDonald.

The Happy Meal went up by 20 cents when kebab place went by 1.50 in one go.

This could be a reason.Also many of us remember how quickly prices started rising in cafe and other places straight after COVID,when there was no a single sign of any Inflation but plenty hungry owners.

Also same again ! Government Must help us ! But for some reasons McDonald doesn't cry,same as Lidle or Aldi and they doesn't asking for any support!

enricoh

https://www.boards.ie/discussion/comment/119622548#Comment_119622548

I wonder if Ff n Fg will decide to have an almighty row in the near future n hand Sinn Fein the reins!

A lad that moved here 10 years ago dropped a bottle into me yesterday, thanking me for a few bits n bobs of work I done over the years. They've just sold up n heading to Spain. Him n missus are both at computers and can work remotely. She'll be back for a week every couple of months. Said there is a lot of colleagues moving abroad and he wasn't sticking around for the bang n tax the rich aftermath.

Good value in Spain at the mo with retired Brits heading back to blighty as the Spanish don't have to shell out for them anymore with Brexit. He reckons he cashed out at the top here n it was hard to disagree with him. Ireland got too dear for them n they are exactly the type of people we need here. Forgot to ask him but it's probably 50/50 that the council/ charities bought his gaff around here!

https://www.boards.ie/discussion/comment/119623290#Comment_119623290

I was listening David McWilliams podcast on Spotify one day.He was telling about people like you.

People are saving for buying property and them money come to nothing due with rising cost of property.They are keep working and still the same.Finaly they give up.

One my mates family from Lithuania went home to Lithuania.They were saving for property in Ireland last 10 years and decided back home Because couldn't afford buy property here in Ireland.They simply didn't want stay on street in Ireland due with shortage of rental property when day will come.

Shauna677

https://www.boards.ie/discussion/comment/119623582#Comment_119623582

You dead right there...100%. i heard the owner of fast food food outlet few months ago trying to.justify the huge increases in his fast food premises. On the radio he said sun flower.oil is going up by such and such an amount next week. Damn him, i thought to myself, he shoved up the prices before ever sunflower oil went up. It was complete price gouging.

Its true, Mcdonalds have barely.increased their prices, so its definitely a rip off with some of the other fast food outlets.

Danye

Genuine question for those more knowledgeable on economics than me, where do you see the construction industry in this country going over the next months?

fliball123

https://www.boards.ie/discussion/comment/119623813#Comment_119623813

Well the gouging is going to come back an bite. I mean if you look at a restaurant or hotel now as apposed to 6 - 12 months ago.

VAT is up

Minimum wage is up

Energy bills up

raw materials for food/cleaning etc up

Covid supports gone

Cost of transport petrol etc, up

Its hard now to listen to them when they cry wolf even do the wolf is really at the door, there will be very few seeing sympathy for establishments who took the p1ss