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

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  • Registered Users Posts: 993 ✭✭✭greenfield21


    No, because we need to play our part in decreasing demand and reducing inflation.



  • Registered Users Posts: 29,404 ✭✭✭✭Wanderer78


    hahaha, yea lets completely fcuk our economy up, causing many businesses to shut and unemployment to rise, again, this is not demand lead inflation but largely supply side lead.....



  • Registered Users Posts: 4,500 ✭✭✭An Ri rua




  • Registered Users Posts: 1,018 ✭✭✭Jonnyc135


    Asking the wrong person I think, I know nothing or have never mentioned about roubles or trading them

    Post edited by Jonnyc135 on


  • Registered Users Posts: 1,454 ✭✭✭rodge123


    Same way they didn’t sweep in to save the banks? Same way they didn’t sweep in to save people and businesss during the covid pandemic? Same way the UK haven’t swept in to cap prices? Same way various EU countries haven’t swept in to offer varying levels of support?


    These are real life decisions made and will be made again if needed.

    Less of the sensationalist scaremongering and more logical thinking. Or maybe you’re simply stating what you wish would happen to further another agenda.



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


    MNCs will always be the smaller tax payer overall, always be the smaller employer, compared to SMEs.

    This is laid out clearly from the Dept of Finance, from the CSO etc.

    That's a given and is down to basic economics.


    The real concern, as recently outlined by the finance Dept is how Corp tax intake is artificially inflated at the moment, due to external circumstances.


    Both are vital but there is no economy or functioning State without SMEs, there can be a poor State without MNCs.



  • Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Price caps don't do anything though. All it means is that your electricity bill is capped. But the actual cost of the electricity you're getting just builds up a big tax bill, that people pay for when there's less investment in certain areas.



  • Registered Users Posts: 1,454 ✭✭✭rodge123


    Yes it means the government pick up the full cost over the cap and we will all pay for that with extra tax or less services spread over years. I’m not arguing otherwise, just saying I think the government will intervene further if things get really bad with bills. Will start seeing around Nov/Dec Id imagine when the first proper bills come in. You can be 100% sure it will be getting huge media coverage and all sorts of opposition politicians screaming for caps or further payments if there are large numbers of constituents reporting trouble paying the bills.

    What I think and hope they do not do is start taking about easing restrictions on Russia so that we can all have our cheap gas back. Don’t think that type of sentiment will gather too much support in Ireland, in other countries…who knows.



  • Registered Users Posts: 1,609 ✭✭✭Tonesjones


    Sensationalist scaremongering?

    Agendas?

    This isn't Twitter.

    Leo Varadkar won't be paying for your electricity and Michael Martin won't be buying you new underpants.

    Bail outs and hand outs end up with Ireland being the third most indebted country on the planet and the latest handouts lit the fuse for decades high inflation.

    Are you a bank? The government bailed our speculators with tax payers money. You do realise that don't you?

    Do you not remember 2008? The country was boarded up. How many left for Australia.

    The government didn't save anyone.

    Get real. You are only a pps number



  • Registered Users Posts: 5,827 ✭✭✭Wolf359f


    That's incorrect, the price cap in the UK meant the suppliers cannot charge you more than x amount per unit. So the suppliers are the ones fitting the bill if they are buying energy for more than they can sell it to the consumers. Now the mini budget that was announced the other day changes it. But up until then, the suppliers and not the tax payer were on the hook.

    You are wrong as per the link posted above, various counties are stepping in to help the public deal with higher energy bills.



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  • Registered Users Posts: 1,735 ✭✭✭lalababa


    Jeasus wept, fertiliser has rocketed, fuel is up, electric and gas are up. Agriculture..ie food production uses fertiliser and diesel , cooking uses gas and electric. Are you fecking serious about whingeing about your chicken and chips going up a euro? What planet are you on?



  • Registered Users Posts: 1,454 ✭✭✭rodge123


    What you think should happen and what is likely to happen are two very different things. I’ll repeat myself, read it slower this time and let it sink in, maybe even read it back a few times.

    They bailed out the banks, they bailed out business across the country for pandemic (employees indirectly) and I’ve already posted link to what UK and EU countries are doing this winter.

    Recent history and precedent indicate they are more likely to bail people out for energy bills than not.



  • Registered Users Posts: 1,609 ✭✭✭Tonesjones


    Ireland and Europe are going into a recession. Leo giving you some quick cash to pay a small percentage of one of your bills is not going to stop the incoming tide.

    You can stick your fingers in your ears, close your eyes and chant " the government will save me" until the cows come all you want.

    Handouts have the potential to further fuel inflation.

    The ECB control monetary policy

    Putin controls the energy

    The Euro is tanking against the dollar, the world's reserve.

    Leo and Michael won't stop a global slow down and recession.

    "They bailed out the banks" is not the gotcha you seem to think it is



  • Registered Users Posts: 1,454 ✭✭✭rodge123


    ……….



  • Registered Users Posts: 1,454 ✭✭✭rodge123


    You really need to properly read posts.

    Where in my posts did I indicate I want the government to bail us out? Read back though my posts and you’ll see I’m simply saying what I think they will do.

    Is English your first language? (Not a sarcastic question) 

    As for the “They bailed out the banks” is not a catch all. 

    It is one example of three that I gave - the other two which you are conveniently choosing to ignore in order to fit your narrative. Bailed out business/people for covid and other EU countries having energy supports lined up.



  • Registered Users Posts: 4,585 ✭✭✭jackboy


    Is that true? I thought in the UK that the government are going to pay the difference to the suppliers.



  • Registered Users Posts: 5,827 ✭✭✭Wolf359f


    So you've gone from governments won't step in to help people to it make make a bit of difference etc....

    Can you not just accept your original statement was wrong rather than keep digging?



  • Registered Users Posts: 9,381 ✭✭✭Yurt2


    This is correct. It will cost 60 billion pounds to the exchequer in the first six months (much more now with Sterling sh*tting itself).

    And the fun part is how they are going to fund it. Wait for it...hang on in there...they plan to fund it with...tax cuts on the rich.

    The UK is in trouble.



  • Registered Users Posts: 5,827 ✭✭✭Wolf359f


    Up untill their mini budget, the suppliers had to pocket the difference, hence why so many energy suppliers went bust. Paying the difference is crazy as suppliers would just be charging 10x the price, the customer pays to the cap and then the government pay the supplier the 9x markup etc...

    (Their previous price cap was 52p per kwh. When gas was the highest a few months ago it was working out at 33c per kwh, so there's profiteering a plenty going on)

    I haven't looked at their budget in detail to see if that's changed, but I think all that's changed is the government will guarantee any loans given to energy suppliers to keep the going.



  • Registered Users Posts: 4,585 ✭✭✭jackboy


    Sounds like getting the Russian gas pumping again fast is the only way out of this. All other policies are economic suicide.



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  • Registered Users Posts: 1,609 ✭✭✭Tonesjones


    Thread is about a global recession not Leo Varadkar giving you santy money.

    Anyway-


    Another sell off on Friday as confidence plummets.

    And in Europe :

    "European stocks fell just as sharply or more after preliminary data there suggested business activity had its worst monthly contraction since the start of 2021"



  • Registered Users Posts: 493 ✭✭Shauna677


    If you read my comment, the fast food outlet owner was on about the cost of sun flower oil rocketing when in actual fact it went up 10 cents a litre since last year. Look at Lidl/Aldi, one liter of sunflower oil currently 1.49, it used to be 1.39 6 months back.



  • Registered Users Posts: 1,244 ✭✭✭Sammy2012


    We have a long term investment that we don't plan on cashing in for another 10 years. So in the longer term do people think stocks will rise again or is this going to be a permanent problem?


    I know noone can tell the future but based on what goes up, must come down, what goes down, must also go up. Or are things going to get very rough for the next few years for the ordinary person.



  • Registered Users Posts: 1,609 ✭✭✭Tonesjones


    The global economy relies on growth to function. In time we will boom again. Could be 1 year or 2 or more or much less but these boom and busts are cyclical.

    This bust cycle could be a big one because of the energy squeeze, the inflation, the pandemic hangover, the eyewatering bail outs and handouts ,the uncertainty, the war etc

    A perfect storm perhaps .

    But all storms pass eventually



  • Registered Users Posts: 435 ✭✭Psychedelic Hedgehog


    I certainly wouldn’t be listening to people on the internet for investment advice.



  • Registered Users Posts: 1,244 ✭✭✭Sammy2012


    Not looking for advice. Just opinions. There are many on here!!



  • Registered Users Posts: 6,901 ✭✭✭amacca


    Think about what has true value and utility and you won't go far wrong


    If you can afford to hang on to it and not be forced to liquidate/sell what will people always need/want


    If you can and have the luxury spread your investments around/don't put all your eggs in one basket is generally sound advice (you will find some that scoff that got lucky on a moonshot but for every one of them there are countless others that bet the house on red and regret it)



  • Registered Users Posts: 5,625 ✭✭✭brickster69


    I think with the West talking about increasing sanctions that bird has flown. Mainland Europe is not going to have the cheap natural gas that it's industries rely on to operate.

    This winter could be a catastrophe and demand will have to be cut simple as that. First to go is energy intensive businesses and the jobs that go with it.

    Heading into Winter i fear a few counter sanctions will be getting launched from Mr. Putin soon enough.


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

    - Camille Paglia



  • Registered Users Posts: 883 ✭✭✭mun1


    Been looking to invest a significant sum of money which is in prize bonds , so bloodbath = every cloud has a silver lining and all that. Just need to figure out the timing, where the bottom might end up etc.



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  • Registered Users Posts: 5,625 ✭✭✭brickster69


    Election day in Italy today and looking like a landslide for the Centre right coalition. Should be interesting to see how markets react during the week ahead.


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

    - Camille Paglia



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