"The Irish were all living on borrowed money..snouts in the swill..good time charlies. This new found 'richness' was built on what?? construction, construction and construction...nothing else..."
Have to agree with you there...first time I saw the writing on the wall was mid 2006 when the lady serving me behind the deli corner of the local Centra was telling me about the NEW BeeMW Coupe she was about to buy...nothing wrong with someone looking for a bit up upwards mobility but that just shocked me to the core...
I used to hate that palaver..Oh my house is worth a million oh well mine is worth two million and the same houses were like glorified rabbit hutches some of them stuck in the ar-e hole of Ireland.
That day is well and truly gone and of that I am truly grateful. The Irish were all living on borrowed money..snouts in the swill..good time charlies. This new found 'richness' was built on what?? construction, construction and construction...nothing else...The arrogance of it all used to make my blood boil. I bought a house when they were not too expensive but nothing else. I got stung with these bank shares...never though they would become quasi worthless one day though.
It is nice to be missed and yes I have got a sore head sometimes - most often when I reflect on the last forty years or so and Ireland in particular.
When Ireland reached "the promised land" and was voted the best country in which to live because its citizens were the richest in europe I knew the writing was on the wall and I don't mean graffiti.
What Ireland enjoyed briefly was well deserved and was not easily achieved but had been invested in by all its people who were heavily taxed in order that the necessary investment could be made in education,tourism and new businesses which had the magic ingredient - intellectual property - the fruit of that investment. What a long sentence.
The introduction of big league economics and the explosion of debt and its consequences will take some digesting but I feel much happier about Irelands prospects when compared with this country so long as it attends to its seed capital - people - and does not slide unwittingly into the mess that this country has achieved.
This is turning into another RANT but I think my sentiments will be understood in the light of what has happened here amongst what almost amounts to a lost generation.
Just to lighten the mood a little it was good to see the size of the uncrossing trade and that it was positive.
Finally there is a report that all is not well in that other world - it is claimed that Lucifer has complained about the new lady who recently took up residence in that kingdom of fire.
He is reported as saying " She has only been here a couple of weeks and already she has shut down two furnaces".
One thing for sure, is that we just can be sure of market reaction to an event. I felt certain today would be a down day, that with all the tracker mortgages out there .... NY and Dub/Lon have taken the broader view that what is good for the EU shall be good for the banks. Hsbc is up too despite their diversification globally. Glad Torquay is back - even tho sometimes he seems to have a sore head!
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