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Ireland's Economy Grows 26% In 1 Year.

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House prices have started to rise again

Wasn't it a property bubble that ruined the last "Celtic Tiger" economy?

And isn't it a property bubble that is largely responsible for the moribund state of the UK economy now?

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Something fishy with accounting gimmicks of depreciation ?

from a comment on Zerohedge :

[irish accounts] are quite astonishing this year, even more so then the normal extreme. Provision for depreciation has doubled in one year!!!! Quite unprecedented and most likely a hidden accountancy trick that is used at the appropriate moment of time. (depreciation is perversely added to Gdp) Y2013: 28, 452 million euros Y2014: 29,715 million Y2015: 61, 558 million!!!!!!! Net factor income from rest of the world. Y 2013: - 28,310 million Y2014: - 29,715 million Y2015: - 53,173 million This is profit, interest and remittance outflow. Ireland Gdp is now over double net national product. This is simply unprecedented. Gdp: 255,815 million Nnp: 121, 658 million


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Are the Irish 26% happier with life?

I also doubt that any additional tax take is being received or of any benefit to the people.

Read that as tax haven revenue is up 26%.

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Ahh, the Celtic Tiger is growing some whiskers eh?


Mind, Dublin got really burned and is still reeling. Still plenty of empty properties and ghost estates dotted about.

That includes family & friends of mine trapped in serious negative equity for nearly a decade when their property bubble went arseways.

Faith and Begorrah, and all that good stuff.

Edited by cashinmattress

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