PowerSwitch

I am hearing rumours across the ether that IRELAND (as in Eire) has now gone bust.

Anyone else heard anything about this?!

Stop stirring things up Andy! You'll find yourself on LATOC next.

Rather worrying, they are a bit nearer home than Iceland, and I suspect have a much larger economy too.

Do you have a link or source for this?

Andy Hunt wrote:I am hearing rumours across the ether that IRELAND (as in Eire) has now gone bust.

Iceland/Ireland... Might just be a spelling mistake.

Erik wrote:

Andy Hunt wrote:I am hearing rumours across the ether that IRELAND (as in Eire) has now gone bust.

Iceland/Ireland... Might just be a spelling mistake.

It's a guy I know who's a computer programmer, he says that people in his office are talking about it, and he has checked they don't mean Iceland, and apparently no, they mean Ireland now.

Will try to find out more.

Nothing on Google.

Ireland has just extended its guarantee scheme, that's all.

This Web thing is so full of sh*t ... rumours such as the US is going down the toilet, mass financial disasters, whole countries going bust ... preposterous.

Still can't find anything . . . could be Chinese whispers.

Oh no - not China now?!

They're definitely in trouble - a budget deficit of 7 billion a month ago was a disaster and prompted an early budget (next Tuesday). Since then, Ireland has committed its taxpayers to a potential 550billion euro liability (guaranteeeing all debts, loans and balances of main irish banks) and the deficit has surpassed 9 billion euro.

20% of economy direcety involved in construction sector (probably a lot have indirect involvement). Officially in recession. Unemployment over 6% and predicted to be 8%+ by next year. Rate of unemployment growth is still rising.



On the bright side, I might be able to afford a house in another year or so...

I heard an even more serious rumour - apparently we are nearing peak oil!!!!

Vortex wrote:My best mate's cousin's dentist's cleaner's friend has also heard that a Chinese battle fleet is on its way to Japan!

Not true, Japan has rented the US 6th Fleet which is on course for China.
A friend who used to work for Avis heard this.

Ireland? Down the tubes? Not at all. Give us yer feckin' money.

The whole world is going bust, country by country - the most indebted (except America) first, then everyone else.

This is exactly what POers were predicting years ago, so why the surprise? The whole world economy depends on credit and that means we're all bust, just some buster than others.

Britain will be among the bustest because we haven't been producing anything really useful for decades.

Ludwig wrote:The whole world is going bust, country by country - the most indebted (except America) first, then everyone else.

This is exactly what POers were predicting years ago, so why the surprise? The whole world economy depends on credit and that means we're all bust, just some buster than others.

Britain will be among the bustest because we haven't been producing anything really useful for decades.

No prizes for being right for the wrong reasons. Peak oilers did not predict the current form of the economic crisis. I'm pretty sure that the economic crisis would be playing out almost identically had oil production increased over the last three years to say 90mbpd and the price not exceeded say $50.

Total global energy supply is still increasing - we haven't got to the collapse by failure of growth that POers predict yet, the credit crunch won the race. There is a very really possibility that demand for energy will fall significantly with a global depression kicking PO issues into the long grass for a few years. Of course PO will still be there, and energy decline will have the final say - we just aren't there yet.