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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 8:22 am 
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spqr64 wrote:
The inability of people to accept the fact that we are in the current economic and that property is only worth about a third of the price they thought it was.


Surely, a this stage, in peoples hierarchy of concerns, the jobs crisis is vastly more important than the price of one's home. Even if you are in negative equity youre main concern would be staying in a job so you can pay the mortgage.

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Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.- JK Galbraith

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 10:02 am 
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Got a hand written note in the door listing different types of smokes for sale, guy put his name and mobile number on the thing! :shock:
Also went to view a big detached house for rent, the landlord was living rough in the place! He looked like shit and he had not even bother to clean it up.... one of those 2007 MacSavvies. Felt very sad as I'm sure he's a possible suicide case :shock:


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 11:26 am 
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A bloke with a van and a powerwasher in a layby in Old Bawn offering €8 car washes on Sunday.

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 11:29 am 
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Mrs Howitzer came into the house yesterday and said that 20K had been taken from her business account. Turns out her sister's husband was making a cash lodgement for her before Xmas and "accidentally" lodged the money into his account. His business is in real trouble and he had been suicidal at the time.

They'd been unable to secure a personal loan or remortgage the house to cover the transaction before Mrs H's meeting with the accountants next week and had to come clean.

People make irrational decisions under pressure.


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 11:37 am 
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Location: Over Macho Grande? I don't think I'll ever be over Macho Grande...
Yikes Howitzer, yikes!

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 11:42 am 
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Rick Flair wrote:
Even if you are in negative equity youre main concern would be staying in a job so you can pay the mortgage.


I would think that anyone in negative equity would be refusing to pay their mortgage and working with their solicitor on arranging a loan write-down on the basis that the bank missold them a mortgage. There must be many thousands with a better than arguable legal case.

Certainly that's what I would be doing in that situation. The job is a separate matter. I would be using the income to build up as much savings as possible so that I could reduce my tax liability.

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:26 pm 
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Rick Flair wrote:
http://www.irishtimes.com/newspaper/weekend/2010/0327/1224267157093.html

Quote:
NIALL McALLISTER (43)

Former managing director

When you’re on €196 a week, that goes very quickly.

Not wanting to make light of the man's situation but if he was a managing director employing 20 people did he not put some money by?

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:28 pm 
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rebelbuttmunch wrote:
A bloke with a van and a powerwasher in a layby in Old Bawn offering €8 car washes on Sunday.


I used a power washer on the car a few years back.
But only once.
It took a lot of the surface paint off!! and left it looking at least five years older


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:34 pm 
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Bigby wrote:
Not wanting to make light of the man's situation but if he was a managing director employing 20 people did he not put some money by?

Tax efficient method is to use a pension. Pension money is not available to him for another twenty years... kinda pointless having jam tomorrow if you're starving today.

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:41 pm 
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taken on 26th march: lord edward street dublin
via http://www.dublinopinion.com


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:47 pm 
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Bigby wrote:
Not wanting to make light of the man's situation but if he was a managing director employing 20 people did he not put some money by?

I know a few people who blew every bit of easy money they made during the madness keeping crews employed in the expectation of the FF promised recovery. Easy come, easy go. It's not until you've lost something do you realise what you had.

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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:47 pm 
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eeekkk wrote:
Image

taken on 26th march: lord edward street dublin
via http://www.dublinopinion.com


:shock:

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Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.- JK Galbraith

Taxes are what we pay for civilized society. -- Oliver Wendell Homes.


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 12:49 pm 
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Rick Flair wrote:
eeekkk wrote:
Image

taken on 26th march: lord edward street dublin
via http://www.dublinopinion.com


:shock:

Jobs are clearly flying out the door so fast that they just cannot keep up with the demand, the recovery is here.................. 8DD


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 1:12 pm 
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Bigby wrote:
Not wanting to make light of the man's situation but if he was a managing director employing 20 people did he not put some money by?
I'm guessing this is the same Niall McAllister (43), former managing director of 20 employees


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 Post subject: Re: Signs of the Depression
PostPosted: Mon Mar 29, 2010 2:17 pm 
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done&dusted wrote:
Bigby wrote:
Not wanting to make light of the man's situation but if he was a managing director employing 20 people did he not put some money by?
I'm guessing this is the same Niall McAllister (43), former managing director of 20 employees


Jesus, Mary and Joeseph.

Can the papers not source a single valid sob story for these pieces.
The family on the dole, the idiot in negative equity and this guy.


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