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

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  • Registered Users Posts: 6,142 ✭✭✭screamer


    If the gas supply has been weaponised, then it’s our own fault for putting that weapon into Putins hands, and depending on him for gas, and building our whole way of life around that gas. Idiot politicians that we have throughout Europe.

    as I said before co operation will be all well and good till there’s not enough to go around and watch the EU implode.

    I still worry more about a world war than a recession to be honest. I’ll take recession over war any day.



  • Registered Users Posts: 687 ✭✭✭Subzero3


    Right now its a recession until concessions. Other option is the EU and the West convince enough fools to die in a war that may or may not grab Russia's energy supplies.



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    And how exactly do you envisage “Europe” forcing Ukraines hand for “territory concessions in current conflict” ?

    Go on please spell it out how exactly you think that would work

    You see Germany/France dropping sanctions and risking sanctions themselves from half of the EU states for whom Russia is an existential threat? In the process destroying EU itself…

    I mean how exactly do the geniuses on this thread think the “bending over for Putin” actually would work out and NOT destroy EU itself in process

    And why wouldn’t likes of Germany instead opt in to develop own gas resources (2030bcm there accessible with fracking, that’s 20-30 years of gas in Germany alone) and switch renewables faster



  • Registered Users Posts: 687 ✭✭✭Subzero3


    Europe need's its own policy thats not run from Washington. If we can deal with Bin Sal in Arabia we can makes deals with Russia in Europe's interested. As Victoria Nuland said F the EU, well its time to say F to America and Ukriane.



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    Half of European countries very existence is threatened (again) by Russia and populations and politicians are anti Russia and pro sanctions

    If the EU drops sanctions you think these countries will just say “this is fine” and not break up the EU into two and/or impose secondary sanctions with US and UK on side

    What so you think breakup of EU and sanctions by USA would do to let’s say German industry

    Once again, spell out how exactly you envisage the “dropping of pants, and bending over for Putin” to work out in Europe, go on

    Why would European countries chose Putin and collapse of the EU over extracting own resources?



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  • Registered Users Posts: 687 ✭✭✭Subzero3


    The EU is collapsing buddy. Wake up, in 6 months time millions of people will be out of work across the EU. Because the EU has no alternative.



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    EU (and other European countries) has plenty of alternatives already outlined multiple times

    so are you predicting the death of EU within six months?



  • Registered Users Posts: 1,274 ✭✭✭EOQRTL


    Darth Bertie.



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    Do you want to explain how exactly you envisage that Russian gas would start flowing again?

    Or you rather driveby shoot one liners and failing to engage in civilised debate (how very Russian of you)



  • Registered Users Posts: 9,172 ✭✭✭Cluedo Monopoly


    Darth has a point. He seems to be completely out-debating you and you are getting petty.

    What are they doing in the Hyacinth House?



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  • Registered Users Posts: 7,036 ✭✭✭timmyntc


    What is his point other than everything is great and Putin is bad?

    European industry is in real danger here - the level of money required to bail out energy companies and either subsidize energy or subsidize heavy industry directly, is going to be astounding. We may possibly see the currency sliding much much further, which will make oil & gas even more expensive and could cause an inflationary spiral due to money printing & business subsidies.

    Or we may see recession chosen as the least worst option, some businesses let fall and more rate increases from ECB in an attempt to save the currency. This puts several eurozone economies at great risk instead, Italy in particular.

    No amount of flag-waving and sticking it to Putin makes a difference to these economic trains bearing down on the union. But anyone suggesting Europe goes back cap in hand asking for cheap energy again is also wrong. That option no longer exists. Whether sanctions are there or not energy has now been weaponized, we have crossed the rubicon.



  • Registered Users Posts: 5,553 ✭✭✭brickster69


    Leaders of Europe's metal industry warn of an existential threat to itself.


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

    - Camille Paglia



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    Please explain why there is not an energy crisis in US but there is one in Europe?

    Hint: European countries chose to not extract the gas available in their own countries and rely on Russian gas instead of becoming energy independent.

    And there lies the solution to this “crisis” that does not involve bending over to Putin and in process collapsing EU where many members states are more worried about their very existence.

    short term: financial support similar to Covid ones on back of low interest rates as money is trying to find a home away from shithole economies. Plus simply getting gas elsewhere and filling storage as is being done

    medium term: start extracting gas in Europe, 70 years in Spain, 30 in Germany, 15 in Ireland and so on

    long term: replace gas with renewables, storage and nuclear


    none of this involves:

    1. destruction of EU
    2. giving in to Russian criminal blackmail
    3. throwing half of Europe under the Russian boot (again)

    and results in:

    1. energy independence
    2. jobs and prosperity
    3. transition to low carbon
    4. destruction of Russia


  • Registered Users Posts: 1,274 ✭✭✭EOQRTL


    "Out-debating" lol

    The eurozone is entering the worst crisis it has seen in a generation and Darth Bertie thinks everything is rosy. He concludes we are all putinbots just for even raising concerns about the current situation.

    He's from the im alright Jack/Jane mindset because he's minted and can take the pain.



  • Registered Users Posts: 13,826 ✭✭✭✭Danzy


    I don't think many here support Putin, outside of a few radical Socialist types like Clare Daly etc, few offer succour.


    Putin has doused both Europe and Russia's economy in petrol and is lighting matches.


    He has had a lot of help in that from people like Merkel, and unpaid unhelp from those who went along with Green Energy absolutism rather than keeping alternatives backing up.


    Add in the highly successful war on agriculture in Europe.


    The absolute chaos and weight crushing businesses in Europe cannot be overestimated.



  • Posts: 0 [Deleted User]


    The metals industry are saying this could be existential now too..And when you look at what these do to the rest of the economy, like, if the cost of steel is doubled, what happens the cost of cars etc?..

    Darth and all his other bot friends will just disappear as quickly as the emerged..

    (90% of bots are pushing the Ukrainian angle according to this study..)




  • Registered Users Posts: 644 ✭✭✭Darth Putin


    This crisis is not even in the same room as euro or covid crises which EU survived quite fine and came out stronger

    I outlined in excruciating detail how this will be solved

    But you rather throw your hands in air, give up and polish your Z swastika in preparation for liberation by Dear Leader’s murdering and raping troops who you cheer for in this and parallel threads.

    BTW notice how I am capable of writing more than a sentence, if English is not your first language that is understandable



  • Registered Users Posts: 1,274 ✭✭✭EOQRTL


    That's the frustrating thing, the likes of Darth Bertie will be nowhere to be seen when things get really bad. It's always the way with his sort.



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    When will that be? You are also going for six months??



  • Registered Users Posts: 3,066 ✭✭✭coolbeans


    Tell us, what is it that attracts you to Russian fascism? You've been in here for countless hours hating on the West so I wonder what attracts you to their way of thinking? Is it cos you're not minted and you're angry?



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  • Registered Users Posts: 10,377 ✭✭✭✭tom1ie


    Darth, you say countries have their own indigenous supplies of fossil fuels that they can use instead of Russian gas- for example Germany can use fracking.

    However is there the political will and or the domestic expertise to actually extract and use these fossil fuels?

    For example in Ireland there’s not a hope we will extract the oil and gas from barryroe because of Eamon Ryan, same reason we won’t build an LNG plant, so what do we do?

    Will germanys political establishment actually allow fracking?

    For these reasons maybe the EU won’t save itself?



  • Registered Users Posts: 1,274 ✭✭✭EOQRTL


    Ah there you go with the insults. You obviously have trouble counting if you think several lines is one.

    Have you tried using an abacus Bertie it may help in your future efforts to back up your "points" in excruciating detail.

    It's amazing because ive read how you presume this will be solved and it seems you should inform the worlds foremost experts in economics who are struggling to come to a conclusion on the matter. Have you thought of maybe going into some kind of advisory role within Brussels inner circle to save us all from this disaster?

    Honestly your talents are wasted here on us mere mortals.



  • Registered Users Posts: 1,274 ✭✭✭EOQRTL


    Go ahead and point out were i am attracted to Russian fascism?



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    there are two choices in front of European politicians right now:

    1. Bend over to Putin and collapse EU and potentially endup in trade war with US and half of European states whose very existence is threatened by Russia
    2. Unban fracking and become energy independent like US did

    number 1 would destroy industries much faster than temporarily high energy prices

    some posters here would like people to think there are no choices and Putin is a genius, but that’s wishful thinking at best, cheerleading for neo nazis at worst



  • Registered Users Posts: 1,274 ✭✭✭EOQRTL


    Point out one poster who has said Putin is a genius? We'll wait.



  • Registered Users Posts: 13,826 ✭✭✭✭Danzy


    It's going beyond those crises now and at a faster rate.

    Circa 200bn in Britain alone to cap energy at a rate that is already a problem for businesses, 5% of Gdp, replicated all across Europe and that is excluding covering positions.


    The EU will survive,the Euro will probably but it is going to be a hard stretch. I suspect that the high point of the EU is past and that countries will do their own thing more.


    Over 6% of jobs in Europe are in car manufacturing alone. That and other sectors are facing an existential threat as key parts of the chain are wipes out .


    Long term the Euro is expected to fall back in to the 80s to the dollar. The impact of that on inflation alone.

    Not for the first time I suspect your obsession with Putin is not genuine



  • Registered Users Posts: 644 ✭✭✭Darth Putin


    Do I need to point at the timeline of the posts in last few pages where it was you who chose to not engage in debate and posted a one liner insult?



  • Registered Users Posts: 5,553 ✭✭✭brickster69


    Time to flatten the curve lads i reckon. 🤦‍♂️


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

    - Camille Paglia



  • Registered Users Posts: 9,172 ✭✭✭Cluedo Monopoly


    I am well aware of the perils facing us but name calling posts are petty and offer nothing. They make you look weak. If you don't agree with him, take his posts apart line by line.

    Post edited by Cluedo Monopoly on

    What are they doing in the Hyacinth House?



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  • Registered Users Posts: 7,036 ✭✭✭timmyntc


    If Germany turned around now and said we're going all in on fracking and are going to be gas independent - nothing would change for almost a decade. 5 years before they start to get their own gas onto the grid. There is 0 momentum for new gas extraction in Germany, negative momentum even, the car is rolling backwards on the autobahn. thats where gas drilling is at in Germany.

    It simply is not a viable option for short or medium term.

    You say we can simply get gas elsewhere and print money - no we cannot. LNG will make up some shortfall, but the amount of gas needed to compensate for that lost to russia is quite large, and even if we get that much in LNG, the cost will be several times higher than what it was before. The era of cheap energy in europe is over, it is not coming back anytime soon.

    Printing money to subsidise businesses is not sustainable. printing money to subsidise electricity bills is more sustainable but still not something that can be done long term. And unless that money is printed out of thin air (inflation++), then it will be taken elsewhere from exchequer spending, meaning cutbacks are needed.



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