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

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    #752
    Sweet.Science
    Registered Users Posts: 2,848 ✭✭✭Sweet.Science


    https://www.boards.ie/discussion/comment/119201821#Comment_119201821

    Pearse Doherty screamed the same weekly for years aswel.



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    #753
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119205473#Comment_119205473

    Biden will be in Saudi Arabia soon. Can't wait for his visit results.Hope he will lucky.

    As far I remember Saudi prince which is King now was shouting on Blinken not much time ago and didn't answer to Biden phone calls.

    When Putin during his last visit was meet there as King.

    Saudi Arabia also get rid of the dollar in oil trade with China.

    This gonna be very very interesting Biden visit there.

    Also please don't forget that Biden gona meet person " involved" to journalist killing in Saudi Arabia embassy in Turkey :)))

    Negotiations about Biden visit to Saudi Arabia took over month because if Biden will not bring cheaper oil out there this will serious hit to Biden and democrats rating before Congress elections in November and showing that Saudi Arabia King cleaned his shoes to USA face

    Looks like negotiations didn't gone well because Biden visiting Israel and at same time Saudi Arabia also.

    Results of the Biden visit gona be very interesting!

    Post edited by [Deleted User] on


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    #754
    enricoh
    Registered Users Posts: 4,890 ✭✭✭enricoh


    https://www.boards.ie/discussion/comment/119205244#Comment_119205244

    One of my in-laws got a job with one of the big MNCs with a great starting salary.

    Was thrown in at the deep end n floundering- stressed out+ roaring at the kids, sleeping tablets n counselling on the go. Just got a new motor 60k+ as they old yoke didn't look professional in the car park. Absolute lunacy n now has to stay in the job to pay it off.

    Sometimes less is more!



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    #755
    rob316
    Registered Users Posts: 18,042 ✭✭✭✭rob316


    The good times are definitely coming to an end. Inflation is here into 2024 and possibly beyond, the ECB have been stupidly slow at doing anything to temper it. We had a decade of low prices and cheap money and our investment into public infrastructure and facilities has been non existent. Housing is worse than ever, healthcare still unacceptable, main cities gone to **** through lack of investment in policing.



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    #756
    MacronvFrugals
    Registered Users Posts: 1,020 ✭✭✭MacronvFrugals



    Reminiscent of super Mario's "whatever it takes" comments from 2012


    2.PNG




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    #757
    markodaly
    Registered Users Posts: 14,412 ✭✭✭✭markodaly


    https://www.boards.ie/discussion/comment/119205968#Comment_119205968

    So, 5% ECB rates and debt forgiveness to the PIIGS.... :)



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    #758
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    People need to look at the states at what's coming down the tracks here.

    Demand for mortgages is dropping bigly. Companies freezing hiring or laying off. They're looking to cut costs.

    I think the everyday person isn't really aware of what's coming. They see the inflation but not what the impacts of rising rates will have. My old man turned to me in almost shock to say that Eddie Hobbs had said Ireland will be in recession in the autumn.



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    #759
    brickster69
    Registered Users Posts: 5,548 ✭✭✭brickster69


    https://www.boards.ie/discussion/comment/119205206#Comment_119205206

    Greece and Italy won't give a ****, they know they are going to get pumped full of cash. The people who have to worry is the people holding the ****. If you owe the bank 100K and can't pay you have a big problem. If you owe the bank 20 billion and can't pay who has the problem, and that is where all the **** is held.

    Unlike Japan the Italian's do not buy it's own debt and international investors don't. They do not even keep savings in Italian banks they put it in Switzerland or Germany.

    Question is who holds the debt and how much Tier 1 capital has been used up for it. You will be totally gobsmacked

    “The earth is littered with the ruins of empires that believed they were eternal.”

    - Camille Paglia



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    #760
    Sammy2012
    Registered Users Posts: 1,240 ✭✭✭Sammy2012


    https://www.boards.ie/discussion/comment/119206153#Comment_119206153

    This is so very true. I know a few people who live like this. Buying things on the never never, paying interest only on their mortgage and lecturing people on how they should be living more and not worrying about paying their mortgage. But each to their own. I'd rather a more cautious approach myself.



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    #761
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119206216#Comment_119206216

    Very strange see people which coming back to country were Putin do so terrible things.



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    #762
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119206672#Comment_119206672

    Yeh, I really don’t understand why 1917 doesn’t just go home



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    #763
    Amadan Dubh
    Registered Users Posts: 1,604 ✭✭✭Amadan Dubh


    "More QE, that's our best solution?"

    "Fire up the magic money printers and think of a new name for this QE".

    And thus the ECB decided it only cared about markets and investors, not the Eurozone citizens and their impoverishing inflation concerns. The ECB is corrupt and we would be better served abandoning the euro.

    https://www.cnbc.com/2022/06/15/emergency-meeting-european-central-bank-to-create-new-tool-to-address-fragmentation-risk-.html




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    #764
    Juran
    Registered Users Posts: 794 ✭✭✭Juran


    We are planning to buy a winter home in Spain with cash savings. Think we'll hold off to see if prices drop off in the next 6 to 12 months.



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    #765
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    https://www.boards.ie/discussion/comment/119206764#Comment_119206764

    The ECB don't have full control unfortunately for them. The US is raising rates and the Eur is getting weaker. It's hovering around lows similar to that of 5 and 19 years ago.



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    #766
    Sierra Oscar
    Moderators, Category Moderators, Computer Games Moderators, Society & Culture Moderators Posts: 8,482 CMod ✭✭✭✭Sierra Oscar


    https://www.boards.ie/discussion/comment/119206206#Comment_119206206

    Who in 2022 is getting an interest only mortgage to fund their purchase?

    The Central Bank's own figures show that interest only mortgages accounted for only 0.15% of new lending in 2012 and related solely to BTL purchases. They've fallen even lower since. Even within the BTL category, interest only lending accounts for around 3% of new mortgage lending.



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    #767
    brickster69
    Registered Users Posts: 5,548 ✭✭✭brickster69


    https://www.boards.ie/discussion/comment/119206764#Comment_119206764

    So the ECB's mandate has now changed to supporting bond yields as opposed to getting inflation to 2%. Beforehand it was bond yields are not the job of the ECB.

    Sure as hell i know the problems but do not have a clue to the solution, i don't think there is one.

    “The earth is littered with the ruins of empires that believed they were eternal.”

    - Camille Paglia



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    #768
    freemickey
    Registered Users Posts: 134 ✭✭freemickey


    It's less a recession beginning, which implies we are on the correct track and just taking a step back, and more a global realignment that's about to happen.

    The last decade, maybe even two decades, have been balls to the wall insanity. Nothing about it, socially, culturally or economically, was ever realistic.

    Big kahuna is coming.



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    #769
    MacronvFrugals
    Registered Users Posts: 1,020 ✭✭✭MacronvFrugals



    👀👀


    Canadian home prices dropped for a second straight month


    https://www.bloomberg.com/news/articles/2022-06-15/home-prices-in-canada-fall-for-second-month-with-rates-rising?cmpid%3D=socialflow-twitter-billionaires




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    #770
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    https://www.boards.ie/discussion/comment/119207119#Comment_119207119

    Irish prices could well have dropped in April - May. Month on Month growth was only 0.1% in March - April.



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    #771
    BattleCorp
    Registered Users Posts: 11,774 ✭✭✭✭BattleCorp


    https://www.boards.ie/discussion/comment/119206834#Comment_119206834

    While house prices may drop, the value of your money will also drop. I wonder which will drop the most?



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    #772
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119207160#Comment_119207160

    If Black Friday in September will come to USA markets then coockoos and investment funds will start property Christmas sale in Ireland.

    The coockoos and investment funds are the biggest landlords in Ireland at the moment.

    Sites are slow down already the renting market will be hit in September when many foreigners from them will lose jobs and will leave rental properties.Then small landlords will start Sell of.

    The new build will fall around 10-15 per cent next year I think .Because energy prices will be high and there will be shortage of builders buyers will chose new build with better BER.The old houses will fall up to 25 per cent by the end of next year.The amount of houses for sale in my town is rising at the moment.

    Would be very interesting what situation on short term renting market did all gone into long term trying survive during pandemic ?



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    #773
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119207177#Comment_119207177

    Gold and other metals price not growing on market so I don't worry about value of my cash for example.Also many traders moving to cash.Gold cost 1780 before war on Ukraine then nearly 2000 at highest point now its cost 1822.So if we have inflation and bags of printed useless cash why value of gold falling ? I tell you why Because people doesn't have money to buy gold .

    Why builders hurry to sell and why timber frame factories work overtime if money will worth nothing ?

    The more people will spend on them bills the less they will have money to buy houses.



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    #774
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Big changes in the world after Biden trip to East ! Results of it will be interesting !



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    #775
    Subzero3
    Registered Users Posts: 687 ✭✭✭Subzero3


    https://www.boards.ie/discussion/comment/119207603#Comment_119207603

    Why would a builder go back home of he can go on rent supplement and jobseekers be benefit. If anything the social housing demand will skyrocket when people can't afford rent.



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    #776
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119207863#Comment_119207863

    War on Ukraine will be ended this year there will be plenty jobs rebuild the country.

    Nobody can get any rent supplement or HAP if he has property abroad.Also many lads left families at home.

    Job seeker benefit will not enough for man which can earn more or similar at home.

    Also there is 2 private companies Seatec and Jobpath in Ireland.They getting money from government employing people.After 7 months unemployed person will be send there and if person doesn't take job offered his social welfare will be canceled or reduced by 50 per cent.I had personal experience dealing with them and I know that very well.That how government created "low unemployment" before and after pandemic.



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    #777
    onrail
    Registered Users Posts: 1,033 ✭✭✭onrail


    Del.



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    #778
    Count Dracula
    Registered Users Posts: 1,297 ✭✭✭Count Dracula


    Mortals, please understand and listen to my advice. I have lived through many many recessions. I have seen the rise and fall of many empires.

    Until you fathom and comprehend the plight and effort of your ancestors, you are all doomed to not become as rich, powerful and successful as your greedy neighbours. Your Grandmother or her mother never enjoyed the luxury of a drive thru McDonalds or frozen ice cream. Communication took weeks not seconds. Your Grandmothers' grandmother could not buy chocolate at the shop, or date at the cinema.

    Recessions were invented by an english economist, John Maynard something or other, they did not exist before then. Go ask the Bourgeoisie of 17th Century France about their thoughts on le Terreur.... getting kidnapped, bound and gagged by an angry mob, prior to being guillotined in front of thousands of hysterical French townie knackers is a sight I doubt I will ever again witness for some time. Now that is what I call a foooooking recession....

    Ha ha ha ha ha ha ha ha ha ha ha haaaaaaaaa.



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    #779
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/119207739#Comment_119207739

    The thing is that Biden can't make anything anymore.Same as USA.The results of his trip will show how world falling on parts .He has nothing to give to Crown Prince Mohamed bin Zayed the real ruler of Saudi Arabia and Biden has not much time to elections to Congress in November left.USA created plenty problems for Saudi Arabia also left mess in region leaving Afganistan ( Saudi Arabia mad about it )

    During the Hussites attacks from Yemen which are supported by Iran USA took them Patriot anti rocket systems out of the main Saudi Arabia oil factories and airport.Also USA didn't gave hands to Saudi Arabia in war against Yemen .

    Also Obama ( democrats ) didn't kept his Pinky promises help Saudi Arabia create hi tech industry.

    Also USA couldn't put Russia on knees using sanctions and Saudi Arabia lost trust to USA power.

    Saudi Arabia took Russia China and India side ,more Saudi Arabia gona eliminate US dollar from oil trade with China what will hit dollar position in the world.

    So the only way for Biden is put pressure on Saudi Arabia,the Crown Prince are " involved" in killing of USA citizen journalist in Saudi Arabia embassy in Turkey also Saudi Arabia has around 800 billions of investment s in USA. Don't forget September 11 cases in USA also.

    So options will be 2. Or Biden will be kicked out ( highly likely ) and world will keep falling on parts quicker with big oil prices and Europe in mess

    Or Saudi Arabia will put head on Biden knees ( highly unlikely ) with smaller oil prices and world will falling on parts slightly slower with Europe economy stabilization .

    Saudi Arabia are more interested in dealing with republicans because Tramp are big Saudi Arabia friend since 80s ! And Saudis not interested in Biden wining elections.

    If Biden will not bring cheaper oil from Saudi Arabia this will badly hit democrats ratings before Congress elections and will support Tramp republicans.

    Many things will change after Biden visit.



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    #780
    brickster69
    Registered Users Posts: 5,548 ✭✭✭brickster69


    Euro heading to parity with the dollar


    https://twitter.com/economics/status/1537133467431014402


    “The earth is littered with the ruins of empires that believed they were eternal.”

    - Camille Paglia



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    #781
    [Deleted User]
    Posts: 0 ✭ [Deleted User]



    https://www.irishtimes.com/business/economy/2022/06/15/irish-house-price-inflation-cools-for-first-time-in-nearly-two-years/


    Who said useless printed cash will worth less ?


    Would be great see pound and euro 1 to 1 again .



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