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

brickster69

https://www.boards.ie/discussion/comment/121603135#Comment_121603135

That was the price excluding shipping you are just presuming. But for a small amount it is very little as you say.

Ubbquittious

The recession following even a tiny detonation of a nuclear bomb by the Rooskies will be very severe altogether.

Podge_irl

https://www.boards.ie/discussion/comment/121603557#Comment_121603557

I'm not assuming. Customs data is a landed price. That is the definition of it.

brickster69

https://www.boards.ie/discussion/comment/121604249#Comment_121604249

What does CIF mean on customs data ? You only pay import duties on the cost of the goods not shipping, what type of idiot would include shipping costs with the cost of the goods, you would have to pay more tax without a need to do so.

lbunnae

interesting this thread started a year and. Half a go. What does on the horizon mean haha, I mean uz will eventually be correct I guess.

Podge_irl

https://www.boards.ie/discussion/comment/121605278#Comment_121605278

CIF means Cost, Insurance and Freight - the freight cost is by definition part of the value. You pay import duties on the landed cost of the goods, not including freight would in fact be fraud.

herbalplants

American banking institution Citigroup, which employs more than 2,500 people in Ireland, said it will axe 20,000 jobs.

Wanderer78

https://www.boards.ie/discussion/comment/121609332#Comment_121609332

rates must be starting to bite now, rocky road ahead.....

brickster69

https://www.boards.ie/discussion/comment/121609852#Comment_121609852

What was that video about the guy who was on about the US gas prices tied to derivatives Wanderer. Can you remember where it was from ?

Wanderer78

https://www.boards.ie/discussion/comment/121609954#Comment_121609954

jesus you have me now, no idea, but that sounds interesting.....

aidanodr

NOT a world recession by any means but still, slow growth ( 3rd year in a row ) coupled with geopolitical situation may make it seem like one

https://twitter.com/WorldBank/status/1745202354218254836

brickster69

https://www.boards.ie/discussion/comment/121611219#Comment_121611219

And if someone decides to attack Iran then 30% of he worlds LNG and 20% of Crude oil supply will be off the market for a good while.

Europe as a whole and a lot of the world won't be worrying about delays in it arriving it will be trying to figure out how to replace it which they can't.

Worst case scenario of course, but not as crazy as it may of sounded a few months ago.

That projection would do a 180 in a couple of months.

Timing belt

https://www.boards.ie/discussion/comment/121609852#Comment_121609852

Increasing rates means more profit for well run banks which improve cost to income ratio and as a result less pressure on staffing costs

Timing belt

https://www.boards.ie/discussion/comment/121609961#Comment_121609961

Or maybe it’s just someone that doesn’t understand that heard derivatives and gas in the same sentence which wouldn’t be unusual as oil swaps, forwards are all derivatives that are traded OTC whilst futures and options on gas are the derivatives that are traded in the regulated markets.

rob316

Ireland is already into a recession, the local economy is going belly up but we measure our economy on the profits of multinational companies.

brickster69

Tesla halting most production at it's German factory due to parts shortages.

https://twitter.com/Reuters/status/1745714730398863776

Ubbquittious

Tesla China probably picking up the slack

Wanderer78

https://www.boards.ie/discussion/comment/121611826#Comment_121611826

...jesus, you really have swallowed the banking cool aid, havent you!

irish banks have not been passing on the gains from increased rates, particular towards depositors....

increased rates is currently squeezing indebted entities in our economies, from households to businesses, and beyond....

this in turn is increasing the likelihood of defaults within all of these entities, i.e. increasing the likelihood of business failures, job loss etc etc, which is actually starting to occur now....

...pushing this to its limits, this potential could cause financial crisis within these heavily indebted entities, so......

...increasing rates only truly benefits certain entities in our societies, i.e. not everyone gains, many in fact lose....

increasing rates also reduces the available money for spending in our economies, as more and more is required to keep up the increasing debt repayments, ultimately slowing them...

...and in a growing uncertain economy, spending tends to slow, and saving tends to increase, further slowing our economies, again, this undermines the functionality of our economies, i.e. slowing velocity of the money supply....

so our banks might be gaining from this, but if everything else is in trouble, are our banks truly benefiting....

Danzy

https://www.boards.ie/discussion/comment/121611411#Comment_121611411

Iran might be looking for an excuse to cut it off.

Everything they and their proxies have done to date is to carry out such extreme provocation or attacks that it leaves no choice but to respond.

The houthis are determined to leave no peaceful option on the table, at Iran's behest.

Danzy

https://www.boards.ie/discussion/comment/121612048#Comment_121612048

Problem is that the governing parties are very far removed from small businesses and the part of the economy where most people work and live in.

Golf events with multi national CEOs is all they are interested in.

brickster69

https://www.boards.ie/discussion/comment/121613461#Comment_121613461

Why would they wish to destroy the global economy. It's ok attacking a few goatherders in the Red sea so things don't get delayed a week or so, but could you imagine attacking Iran for a few months.

You remember when Saudi cut production 1 million barrels, people started panicking. This is 20 million, and that's just the oil. Can you imagine all those bankers in Wall Street and the City of London getting all those margin calls, due to betting on things going up and down with money the don't have ? They will be jumping out of windows and all sorts of chaos.

Danzy

https://www.boards.ie/discussion/comment/121613646#Comment_121613646

Iran are the ones driving this. Iran are the ones that want an excuse to drive oil to several hundred dollars a barrel and they'll keep escalating till they get the result they want.

They will continue to open up new fronts and new attacks.

Iran sees this as a chance to upend the world to it's own advantage.

Timing belt

https://www.boards.ie/discussion/comment/121613381#Comment_121613381

original post - banks cutting jobs due to increasing rates

my post - banks benefit from increasing rates and less pressure to cut jobs.

your last post - I drank banking cool aid and yes banks may benefit but not society plus a lot of incoherent waffle.

So in summary banks benefit from increasing rates…thanks for confirming.

combat14

https://www.boards.ie/discussion/comment/121612048#Comment_121612048

looks like cork city is struggling with a wave of long established popular restaurants closing down

aidanodr

https://www.boards.ie/discussion/comment/121613932#Comment_121613932

To be honest I think, in Cork anyway and maybe elsewhere in hospitality it is a RESET. Downsizing. Full service restaurants are in trouble but smaller, more manageable enterprises might be the way forward as indicated by most recent cork restaurant closure

“After nine years it has been a difficult decision to make but, as with other restaurants that have recently announced closures, the costs involved in running a full service restaurant have become impossible to absorb.”

They added that their outlet in Marina Market and White Rabbit Deli on Princes Street will continue to operate as usual, and that they plan to expand their offerings in both venues.

The team also said that the venue on MacCurtain St “will return in the near future with a different offering.” 

So it looks like a reset, reassessment of size of operation and better off with a more lean mean outfit instead which is what the Marina Market is ( a stall there just like the Chinese Tung Sing who closed on Patrick street recently ).

In fact I would say its peoples changing tastes in what they want. Fast food, reasonable etc. It would appear the full service restaurant will become less and less.

This is all good, shows business is responding to needs of customers

https://www.echolive.ie/corknews/arid-41308276.html

timmyntc

https://www.boards.ie/discussion/comment/121613975#Comment_121613975

Are you suggesting there is no demand for full service restaurants?

There very clearly is - the issue is costs and pricing. Extreme cost inflation is making full service unviable, it does not mean customer's priorities have changed.

Timing belt

https://www.boards.ie/discussion/comment/121614151#Comment_121614151

It’s not just issues with cost and pricing that are putting people off. It’s also how junkies are coming into the middle of restaurants begging while you’re trying to enjoy your meal.

herbalplants

Good news:

Staff at Zendesk’s Irish office are in line for tens of millions in payouts as a result of the €10 billion sale of the company.

Ozark707

Shipping rates have dropped the most since 2008

https://twitter.com/AlessioUrban/status/1746588417457008906

lumphammer2

https://www.boards.ie/discussion/comment/121613708#Comment_121613708

As I always say ... this is all one big game ... oil companies only want one thing ... for their product to climb to as high a price as possible ... Iran's 'leadership' is told exactly what to do by the powers that be ... and big oil make a killing ... their execs live on yachts ... far from the Red Sea! ... and live lives of luxury ...