Re: Re: The Building Boom Is Over!
As long as your builder mates don’t get their way and get tax payers to prop them up we shouldn’t get more mediocrity and there’ll be pause to consider things…and time to get back to fair value. I 100% agree with Jimg above, sharp analysis.
Great analysis from Alan Aherne in today’s Irish Times, he’s the man advising the Minister for Finance
Courage to say No to vested interests is crucial for economy
http://www.irishtimes.com/newspaper/opinion/2008/0916/1221430255118.html
ALAN AHEARNE
ANALYSIS : What did I tell yesterday’s Fianna Fáil meeting? If you weren’t there, read on. . .
HOW PAINFUL will the economic downturn be and long will it last? The simple and honest answer is that the slump will be severe and will probably last longer than most people think. The consensus among economic forecasters is for a moderate decline in real GDP this year, followed by a pick-up to low positive growth in 2009. A robust recovery, with growth of roughly 4 per cent, is pencilled in for 2010.
This projected path for economic activity looks implausible. Weak incoming data, a deteriorating outlook for growth abroad and the scale of adjustment in the housing market that has still to take place point to significant contractions in GDP both this year and next. The economy may stabilise in 2010 as the drag from new homebuilding fades, but we will probably have to wait until 2011 for a rebound to strong growth.
If the government take the weak option I’ll go mad 😡
