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Ireland's Economy In Surprise Contraction

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http://www.telegraph.co.uk/finance/financialcrisis/10696166/Irelands-economy-in-surprise-contraction.html

Ireland's economy contracted by a shock 2.3pc in the fourth quarter, data showed on Thursday, denting a recovery that picked up steam elsewhere as the country made a successful return to regular bond auctions and sold at record-low yields.

Ireland raised €1bn (£836m) from 10-year debt in its first auction since September 2010 - before it was locked out of bond markets and hurtled towards an EU/IMF bailout after a property crash led to a deep recession and austerity.

Recovery!!!

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And to think that this has happened despite all the hype on the British State Broadcasting Company about Ireland exiting the EU bailout plan.

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We'll show the Irish how to do it post the election. The borrowed "recovery" is going to collapse as much need cuts finally start.

The housing market has taken fright at Carnages "six fold increase in rates" statement.

All those headline grabbing HPI figures just can't be maintained. Market confidence is sliding even now.

When our crash comes the lunacy of HTB and FLS plus never ending QE will be shown to be nothing more than tinder use to stoke the City's vanity.

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We'll show the Irish how to do it post the election. The borrowed "recovery" is going to collapse as much need cuts finally start.

The housing market has taken fright at Carnages "six fold increase in rates" statement.

All those headline grabbing HPI figures just can't be maintained. Market confidence is sliding even now.

When our crash comes the lunacy of HTB and FLS plus never ending QE will be shown to be nothing more than tinder use to stoke the City's vanity.

+1

I was looking for a house and almost bought one 300 from 330 and nobody wanted it.... 2 years later 395/450 and going in a week. Only thing that changed was FFL + HTB and London taking off again.

The recovery I see is the market becoming used to these low rates and surely a increase from 300-400 in a couple of years can go 400-300 in the same period if the supports are removed.

Edited by Fromage Frais

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+1

I was looking for a house and almost bought one 300 from 330 and nobody wanted it.... 2 years later 395/450 and going in a week. Only thing that changed was FFL + HTB and London taking off again.

The recovery I see is the market becoming used to these low rates and surely a increase from 300-400 in a couple of years can go 400-300 in the same period if the supports are removed.

It's gone too far now I think, only total collapse brought about by an outside force will bring the UK market down.

How can it drop to a sensible level?

If it does, then all the major banks are bankrupt as their property loans go bad. If they are bailed again by the state, the UK is bankrupt and will have to be bailed by the IMF with money they don't have.

It's printing, inflation and devaluation of the pound all the way now.

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It's gone too far now I think, only total collapse brought about by an outside force will bring the UK market down.

How can it drop to a sensible level?

If it does, then all the major banks are bankrupt as their property loans go bad. If they are bailed again by the state, the UK is bankrupt and will have to be bailed by the IMF with money they don't have.

It's printing, inflation and devaluation of the pound all the way now.

I still have a horrible feeling that the stage after 30 years of falling interest rates is high inflation caused by money printing in an attempt to lower the cost of money further. How long that lasts before total loss of confidence in currencies is anyone guess - I would think 15% yoy inflation would be a substantial trigger point.

I suppose you do have to look at how the VI's/'elites' are positioning themselves to guess what comes next. From the reports I have read the east is positioning in Gold and real estate and the west is positioning in real estate. From looking at that perspective the VI's are sheltered from high inflation.

I do believe that the central banks have been trying to cause high inflation, but have failed primarily due to globalization absorbing their efforts.

Not sure what happens next, but I haven't seen people rearranging the chairs just yet.

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Grumpy_Cat-Good.jpg

:)

Well, I know what you mean, but unless you're already living in a bunker with kalashnikovs stashed in the cupboard I think a global banking failure would, er, significantly affect everyone.

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