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Ireland. What does all of this babble really MEAN? (Thank you.)
Max- I would suggest that it means that you should stop watching CNBC and spend that time reading decent news sources such as the Wall Street Journal (just don't look at their editorial pages) or the Economist.
Reply to @Ted: Could be... could be. Thanks much for the follow-up article.
Our Irish neighbors (Irish citizens) returned from a trip back there recently, and inform us that the housing "estates" disaster is far from over. He, being an engineer and contractor, thinks that a lot of the speculative stuff built will either fall down or need to be torn down before that market actually recovers.
Seriously Max, listen to Old Joe. If I had to choose between listening between those guys, fox news or any tv reality(???) show I'd opt for just twisting my cork screw in my eyes.
"The cars are being left in both the long-term and short-term car parks by people who have not even bothered to contact their banks or insurance companies to inform them that they will not be continuing with their repayments.
With over 18,000 cars occupying Dublin car parks every day, the cars often go unnoticed for some time before they come to the attention of the authorities."
Ireland's mess is not over. Poverty struck for 900 years, the country will continue poor forever. Investors' dream of its becoming a financial gem is a losing fantasy, as soft as the bog which covers much of the country. Ireland's 14 years of economic boom were fuelled by debt and lunacy. Tourism and agriculture, not finance, are its wealth. The Irish will be damaged by the banks' debts and its dependence on German lenders for decades, not months.
and yet, haasentab made money by buying irish debt at very discounted prices. same with the u.s... many people left the workplace, lots of pessimism, deleveraging still going strong, and yet.. financial markets are forward looking creatures and discount the future, which seems a bit brighter by the month... there is no return without taking risk -- that's for sure.
Comments
You're welcome... have a great Christmas!
Regards- OJ
Regards,
Ted
http://www.economist.com/blogs/freeexchange/2013/12/irish-bailout-exit
Our Irish neighbors (Irish citizens) returned from a trip back there recently, and inform us that the housing "estates" disaster is far from over. He, being an engineer and contractor, thinks that a lot of the speculative stuff built will either fall down or need to be torn down before that market actually recovers.
Regards- OJ
"The cars are being left in both the long-term and short-term car parks by people who have not even bothered to contact their banks or insurance companies to inform them that they will not be continuing with their repayments.
With over 18,000 cars occupying Dublin car parks every day, the cars often go unnoticed for some time before they come to the attention of the authorities."
Many European laborer just drove to the airport left their bills behind...amazing:
emigrants-abandoning-luxury-cars-at-airport