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

08-08-2022 9:03pm

https://www.boards.ie/discussion/comment/119446814#Comment_119446814

Exactly! Multinationals now is ticking bomb in Ireland.

AdamD · 08-08-2022 9:03pm

Meta and Paypal, lol. Two outdated companies doing badly.

NSAman · 08-08-2022 9:14pm

https://www.boards.ie/discussion/comment/119444738#Comment_119444738

I live there!

Pussyhands · 08-08-2022 9:43pm

The market can stay irrational longer than you can stay solvent. That's a common saying when people are betting against a bubble etc.

If something looks unsustainable, it probably is.

I was thinking for ages that crypto can't keep going up yet it did. Then I feel like it will always keep going up. Same thing with stocks. I'm on other stocks fora and everyone was like "where else are people going to put their money?" yet the market tanked this year.

Once the tide turns, psychology will kick in and play a huge part in things.

Right now people are seeing high prices but they're still not really acting much different to before.

It takes a while for increased interest rates really take affect. They say its one to two years before the full impact is felt.

08-08-2022 9:55pm

https://www.boards.ie/discussion/comment/119447028#Comment_119447028

Markets were rising because been inflated with COVID money checks which American were getting into them letter boxes and because every person from around the world could invest to markets even from mobile phone apps .We can't even imagine how many people burned all them savings on crypto.All this are behind the screen when on screen we see how great invest money to stocks.

Let's wait when those who sold in May and went away will back in September.

Let's wait until those who invested will pull them money back from investment funds, coockoos,because lost them job or due with FED activity doesn't have money to pay mortgage.

Money stopped come to markets.

People not acting ? 50 take a ways closed down on North per last month ! Because people acting .

Cluedo Monopoly · 08-08-2022 10:16pm

https://www.boards.ie/discussion/comment/119446758#Comment_119446758

What are you doing to prepare for this?

08-08-2022 10:53pm

https://www.boards.ie/discussion/comment/119447182#Comment_119447182

Working overtime because any day could be my last at work and cutting fire wood for this winter.

Same as people couldn't do anything on "Titanic",same we can't do anything about it.

But once you understand what is coming you are prepared to meet it.

NSAman · 09-08-2022 1:10am

As a rebuttal to some,posters who seem to think america is not in recession:

why then is current administration sending out MORE checks (cheques) to people? If economy is so healthy why would the government bother to send out$ 1500 to tax payers?

unfortunately, some areas see the blight of closed stores. Other areas (Florida) have vast influx of New Yorkers pushing prices up, 300k have moved into Florida. Try New York and see if it’s booming again. Stores closed everywhere. Try Chicago, try Madison Wisconsin, try Los Angeles or San Francisco with no homeless.

when families cannot afford to put gas in the car to get to work, when the shopping bills have doubled tell me that family is part of the economic boom that is evident??

it is easy to be lead into unrealistic comments if you are in hotels in wealthy areas, move out and see what’s going on in ordinary peoples lives.

real estate price declines have already started. Miami is seeing declines for the first time in years. I know I have been looking. The interest rate hikes, the over valuation, the lack of clear confidence in the economy has started. Tell me that is a boom?

Darth Putin · 09-08-2022 4:19am

https://www.boards.ie/discussion/comment/119447635#Comment_119447635

You just contradicted yourself in same post, ranting about house prices going up AND down in Florida

aside; the migration to the sunbelt ain’t a new thing

Darth Putin · 09-08-2022 4:37am

https://www.boards.ie/discussion/comment/119446979#Comment_119446979

Lol, if that was the case then I would not be able to form a sentence, for example like yourself after your self proclaimed 15+ years here.

As for Russia and Russians, I am revolted by the ongoing barbarism, rape, murder and looting carried out by your country men. Russians are also busy waging a propaganda war against us in the civilised world, case in point your posts in this thread.

What is yet unclear is if you honestly believe the regurgitations from RT/Rossiya24 you post or there is a more sinister purpose. The purpose of Putin’s propaganda is not to increase support for his criminal regime but to drag the rest of the world into the gutter with them and make Russians not question why their lives are getting worse and worse.

What better way to do that but by doom mongering, while you worry (we’ll make appearances) about a recession some of us worry that your dear leader will carry out his daily nuclear threats

NSAman · 09-08-2022 5:51am

https://www.boards.ie/discussion/comment/119447689#Comment_119447689

sheezzz it’s called the Housing Market for a reason!

09-08-2022 7:06am

https://www.boards.ie/discussion/comment/119447692#Comment_119447692

I don't care about your "religion".I will better listen and watch Russian Propaganda than will be like you.Without respect to opponent , without logic, without critical thinking.

In Putin words I see more logic than in your.

brickster69 · 09-08-2022 8:05am

Moody's rating agency on Friday changed its outlook on the economies of Italy, the Czech Republic and Slovakia from stable to negative ( Baa3 status )

If they are downgraded once more to non-investment grade ( junk ), institutions managing trillions of euros would need to sell their bonds and not be allowed to invest in them until they were upgraded.

One guess who the largest holder of Italian bonds is.

09-08-2022 8:08am

https://www.boards.ie/discussion/comment/119447818#Comment_119447818

This winter will bring many countries to junk area.

We didn't even started yet said Putin number of weeks ago.

The only one turbine from 7 pumping gas at Nord Stream at the moment.6 turbines has to be serviced.The only matter of time when last turbine will be stopped.

Mr. teddywinkles · 09-08-2022 9:10am

Whatever about recession I think the whole system just seems to be severely prop up.

timmyntc · 09-08-2022 9:46am

https://www.boards.ie/discussion/comment/119446849#Comment_119446849

Outdated? Meta employs over 3k people directly and 6000 odd indirectly (contracting & services). They pay an enormous amount of corporate tax here also.

If they are outdated then we are in big trouble, as we are very exposed to the likes of Meta and Paypal performance.

09-08-2022 10:48am

Something tells me that to reduce energy consumption and keep manufacturing alive this winter governments will organise COVID lockdown.

Also sending countries to lockdown they will reduce number of protests on streets.

Otherwise factories and businesses will die and many unemployed people will come on streets protesting.

Wanderer78 · 09-08-2022 10:55am

https://www.boards.ie/discussion/comment/119448445#Comment_119448445

'organise a covid lockdown', in order to reduce energy consumption, say wha?

...and also to reduce protests, say wha?

fliball123 · 09-08-2022 11:36am

https://www.boards.ie/discussion/comment/119447028#Comment_119447028

Well I think you have to understand that we have had 2/3 years of lockdowns and we are Irish of course people were going to come out of the traps splurging, going on the tear, people had put off things like 21st , weddings and even funeral dos to celebrate the person who passed. The government also set it up like this with borrowing 40Billion to keep going during the pandemic, Irish savings rocketed to the highest ever recorded. So we were always going to have a nice bump for the first 6/9 months when covid was over. Yet what cannot be ignored is rumors of a .75% increase in interest rates from the ECB, coming in September, the .5 rise in July did feck all for the Euro value and inflation (it will be at least .5%) and that I believe that this rise will be the death knell for a lot of our small to medium businesses who will be unable to afford costs if the likes of oil and gas remain high. This is where the likes of income tax coming in vs what we pay for welfare will tip the other way with people losing jobs and having to be paid redundancies and the dole. If one or two of our top tax contributing MNCs hit a wall Ireland will be in the passenger seat without a seat belt. Also with working from home and the advances in tech we could see workers heading to other countries and Ireland losing that income tax. It is starting to smell like 2006 again. Property prices flying up, Ireland's political class basing our expenditure on a money stream that could disappear. The next 6/12 months are crucial and the government need to get the budget right. My feeling is there are going to chase inflation and that is just going to leave an even bigger mess to fix in a few years time and IMO its not a coincidence that the Shinners will probably be in with the job of trying to fix it which they wont be able to do with their outlandish commitments they have been making to get traction from voters.

markodaly · 09-08-2022 11:47am

https://www.boards.ie/discussion/comment/119446758#Comment_119446758

1001 per cent EU will fall apart untill 2030 !

When I hear grand pronouncements like this I think the person making them doesn't have a notion or a clue.

markodaly · 09-08-2022 11:49am

https://www.boards.ie/discussion/comment/119447343#Comment_119447343

Why arent you shorting tech stocks if you are so sure of them collapsing in the next few months?

brickster69 · 09-08-2022 11:55am

Russian company Transneft said that Ukranian company Ukrtransnafta has totally stopped the transit of oil via the southern branch of Druzhba pipeline to Hungary, the Czech Republic and Slovakia, as Transneft cannot pay for the services due to EU sanctions.

Those three countries are landlocked and that pipeline the only source of oil.

09-08-2022 12:38pm

https://www.boards.ie/discussion/comment/119448744#Comment_119448744

Look to last conflict of Brussels with Poland :

https://www.politico.eu/article/kaczynski-accuse-eu-trying-break-poland-pis-leyen-democracy-pandemic-coronavirus/

Look to Hungary conflict with Brussel:

https://www.aljazeera.com/news/2022/7/23/hungarys-orban-says-eu-sanctions-on-russia-have-failed

Germany economy was pooling all poorest EU states.Germany economy will be dead next year because Germany economy are standing on 2 legs Cheap Gas from Russia and cheap labour from Eastern Europe.The poor states of EU will have looking for another money tap.

PIIGS defaults on the way.

How long EU will survive?

When there will be no food on table the quests will stand up and go home !

markodaly · 09-08-2022 12:45pm

https://www.boards.ie/discussion/comment/119448977#Comment_119448977

As I said, you dont have a clue.

Darth Putin · 09-08-2022 1:00pm

https://www.boards.ie/discussion/comment/119447823#Comment_119447823

Yes comrade, Russians gdp down 6.5% gdp according to Russians themselves already

https://twitter.com/jakluge/status/1555620195087048706?s=20&t=_TkH-6YYWmRkJz8A7ugRMA

09-08-2022 1:10pm

https://www.boards.ie/discussion/comment/119449001#Comment_119449001

Ok, explain me please then.

Jonnyc135 · 09-08-2022 1:43pm

https://www.boards.ie/discussion/comment/119449093#Comment_119449093

You have became a very active user since your first post here less than a month ago. You seek very pro US and western policies. I am in no way in favour of Russia but I really do believe the era of negative interest rates, chasing GPD at all costs, unlimited QE and Globilisation have been the seeds to its own destruction since the mid 80s. These are Western ideologies and society is now turning nationalistic and far right wing as a result of the social divides caused by the above.

We need a full overhaul and reset of the way economies are supposed to function. This Green agenda is all about claiming the rights to agricultural land so they can use the carbon credits in order to ensure the big buisness can continue the high growth whilst being ESG friendly - total horse manure.

Big buisness are pushing agendas and this is what happens when they run the Western world.

Jonnyc135 · 09-08-2022 2:54pm

https://www.boards.ie/discussion/comment/119449244#Comment_119449244

The claiming of carbon credits is not a conspiracy unfortunately. Don't get me wrong I'm not having a go at you and you may be legit, as could Revolution 1917 but its hard to know who the bots are on boards nowadays.

On the topic of a global recession, it is inevitable policies of sustained growth and chasing of GDP by having negative real interest rates was never ever sustainable.

09-08-2022 7:19pm

ECB brought rate up but euro didn't even fart about it.Why ? Because of Italy with them internal political problems and external debt.

ECB will bring rates up in September again ? So what ? In 6 months Moody's and Standard & Poor's will bring Italy ratings to negative or junk !

So here I have question folks,why people in Ireland will have pay higher mortgages in euros when ECB will buying Italy government bonds and will not buy Ireland bonds and at same time euro will not give a fart about it same as did this time ?

We talking just about Italy,there is Spain , Greece, Portugal also folks.

And how euro will be stronger if ECB will keep printing money to buy PIGS bonds ? And weak euro will continue importing inflation?

The whole system are collapsed!

That is not all ! There is queue from about 53 countries for defaults in nearest future!

Somebody think that once war on Ukraine will be over, sanctions will be taken off and Russia will back to Europe? No !

Huge Russian ship now turning to Asian markets which are booming and growing,Russia creating new supply and trade chains.The 50 per cent of Nord Stream 2 already connected to supply gas to Russia North regions and Putin already said that even in NS2 will be used for gas export to Germany there will be only 50 per cent of capacity.You think once sanctions will be gone business will be as usual ? No.

Brussels saying they will get gas ? But each time they staying quiet about How Much this gas will cost !

EU declared that will not buy oil from December ? Now they pumping oil from Russia to storages in amounts they never did before getting 30 dollars per barrel discount from Russia.Does anybody in EU saying that ? No.

enricoh · 09-08-2022 7:25pm

Oh dear, Sinn Fein are gonna stick it to the multinationals as well as the landlords when they get in. Food for thought for the MNCs and their future plans. Hopefully some senior civil servants will whisper in their ear!

https://www.irishexaminer.com/news/politics/arid-40935920.html

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

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