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Realistbear

Dramatic Levels Of Irish Borrowing "not A Problem"

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http://www.rte.ie/business/2006/0407/property.html

Borrowing levels 'no problem' - Ahern

April 07, 2006 13:35
Taoiseach Bertie Ahern has said there 'is not a great problem' with the levels of borrowing made by people to buy property.
Mr Ahern also said those who followed the advice of people who predicted substantial falls in the value of Irish property in the past year would have lost a lot of money.
Speaking at the IMI management conference in Co Wicklow, the Taoiseach also criticised companies which had been winning contracts on the basis of employing people on less than the minimum wage.

Using the same logic the high prices of gold are not a problem either, nor are the huge gains made on the stockmarkets around the world. In the immortal words of Tautologous Tim: "Nothing is a problem until it becomes one."

I wonder how all those Irish employees are buying homes on less than minimum wage? Accomodative lending practices no doubt at all, at all. <_<

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Taoiseach Bertie Ahern has said there 'is not a great problem' with the levels of borrowing made by people to buy property.

There 'is not a great problem' TODAY. But tomorrow is another day.

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Mr Ahern also said those who followed the advice of people who predicted substantial falls in the value of Irish property in the past year would have lost a lot of money.

'Not making' is not the same as 'losing'.

And 'unrealised capital appreciation of an illiquid and hugely overpriced asset (according to The Economist, the IMF and the OECD)' is not the same as 'money'.

On that basis why are people not crying out about the scandal of all the money they've lost not investing in gold :)

Bertie, why didn't you tell us? Don't you know everything? You stole our 46% gains! Off with your head.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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