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Realistbear

Ireland Receive Recession Warning "no Soft Landing"

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http://www.businessworld.ie/livenews.htm?a...rollingnews.htm

Economist warns of possible recession
Thursday, September 13 07:14:08
(BizWorld)
A leading Irish economist has warned that Ireland's economy could experience no growth next year and could even go into recession.
NUI Galway lecturer Dr Alan Ahearne, said Ireland is facing a period of
"serious downward adjustment"
rather than a "soft landing".

As goes HPI so goes the economy. We are next.

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http://www.businessworld.ie/livenews.htm?a...rollingnews.htm
Economist warns of possible recession
Thursday, September 13 07:14:08
(BizWorld)
A leading Irish economist has warned that Ireland's economy could experience no growth next year and could even go into recession.
NUI Galway lecturer Dr Alan Ahearne, said Ireland is facing a period of
"serious downward adjustment"
rather than a "soft landing".

As goes HPI so goes the economy. We are next.

No shiiit Shrelock! I'm not an economist but I'm predicting the same - do I get a badge?!

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With Spain and Ireland the first of the EU countries to feel the winds of Great Crash 2 I wonder how long it will be before the currency speculators decide the Euro is not a safe haven?

Looks like the Lereahean* theory is now debunked for Ireland.

____________

* That a "soft landing" can follow on from years of hyperinflatiopn.

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http://www.independent.ie/business/irish/h...nd-1078738.html

Hold tight as we prepare to land
The property market has hit a slump, a global credit crunch is hurting business, and now our employment employment statistics, across many sectors make for uncomfortable reading.
As the storm clouds gather overhead
, Ailish O’Hora assesses the mood among economists and outlines the challenges and and hard choices facing the economy at a time of international uncertainty
Thursday September 13 2007
SOFT landing
has become a term which is being applied to the slump in the property market, albeit perhaps a slightly optimistic one. It could also be applied to the jobs market with the same approach, although the reality is that a raft of recent statistics and surveys on the Irish employment scene have made for uncomfortable reading indeed.
Plot this against internal growing concerns about our competitiveness and high labour costs and external forces like the credit crunch led by the US, and the mood is not good.

Not much denial left in Ireland these days. After today's news it may soon dissappear here too. Funny though--the LR Index just this week claimed HPI was torrid and going up at the fastest pace in 2 years and then, today, its the opposite. All this fibbing just makes one a bit cross.

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