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

US oil company starts legal proceedings over windfall taxes.

So the basis of their claim is that it will hinder investment. Seems bit of a weak argument. What's next suing that the minimum corporation tax will hinder investment?

Agree with main point of post (that country is not doing too bad overall despite the problems) and am probably being pedantic responding (!) but...have to disagree with some of it as regards the corporation tax and Intel...

Ireland did not "give away" the 12.5 %. It was over. The only EU country that has carried on opposing the OECD corporation tax changes is basically a (edit semi/quasi) dictatorship run by a little Putin mini-me that does Russia's bidding as a gremlin and spoiler inside the EU. I don't think keeping them company by fighting to the death for the 12.5 % was really a good idea for Ireland.

I don't believe there was any chance of that Intel plant being built here even if every Irish worker was a genius that did 90 hrs work a week for birdseed (+ we also had the bestest infrastruture, and the 12.5 % rate etc). It is a big geopolitics thing, a strategic investment for the entire continent. The EU is trying to ensure that it is less exposed to dependencies on others (Asia, US) as regards their IC/semiconductor manufacturing needs because this it is so key to everything else now.

They want new infrastructure related to this built in the EU, and the logical place (when the motivations go beyond making most profit) is near the industrial core where these chips will be used. There's already huge Intel plants here that are not going anywhere, there is no way even more eggs were going to be put in same basket in Ireland by building all this new stuff here as well. It is off the coast of the "mainland", quite a distance from where the ICs/memory etc will mostly be used + requiring inputs and outputs to go by sea, leaving supply chains open to disruption.

Money has been completely devalued when it comes to eating out/hospitality.

I reckon your 40 above only has the purchasing power 15 to 20 used to have a decade or two ago.

And I'm afraid it will get worse or there will be a huge collapse such is the rate they've been "printing" it with f all underlying assets to back it in that decade or two.

The pcp bubble has been bursting for years at this rate. If they can’t make the ballon payment the car goes back and the debt is paid.

Nearly all motor companies are not even making diesel cars anymore, it's either petrol hybrid, plug in hybrid or EV, some cities won't even let diesel cars be driven round them.

Down the line it will be even worse, how does VW Bank phase out or write off the book stock of billions of diesel cars that they have ear marked a predicted market value with every PCP given out.

Look I hope your right, but I see this as a super credit cycle that has too bust and the longer rates stay elevated or go higher the higher the probability of this happening.

Us stock markets, S&P and tech heavey Nasdaq are in a bear market down 20% and over 30% respectively. That's only driven by interest rates hikes, when their earning start taking a hit come Q1,Q2 2023, we will see them finally price from a earnings recession and things will plunge alot deeper into the red. Especially in the likes of Tech companies that are already down over 70%, they will chop jobs (white collar) left right and centre inorder to passify shareholder's. That's the name of the game.

Big high wage paying tech, SME sector, and tourism sector in Ireland will probally be the worst affected.

I see what you did there....

😀😀

jesus, i wouldnt like to be a supplier....

I'll go for a debt / banking crisis which unfortunately will affect everything again. Hopefully WW3 does not come into play for health reasons.

Rose bikes in Germany are in a worse spot. The Chinese company that had been supplying them with parts has disappeared into a void of thin air and left the company with a mass supply of bike frames they can not assemble. I think China is well are truly up the creek regardless of what their PR departments keep saying. Thousands of factories over there [China] could be closed never to reopen! Bike parts in general are in very short supply everywhere.

Payment in 45 days would be considered quick in Ireland unfortunately

Well they are in a very cyclical industry

Deceleration increasing in the US

https://twitter.com/WallStreetSilv/status/1609052781981143041