Are you worried about the state of Irish economy at the moment?

Question

More job losses announced in Shannon today, Kielys Electrical gone into liquidation- another 100 jobs gone there. Rising oil prices etc etc etc.

Its worrying me, but how do ye all feel about it?

Answer 1

Yes and people need to cop on to it.  I said it months ago that it was starting and people laughed.  They aint laughing now.  I have a job that I wont lose but it is still worrying.  Its all down to the oil prices.  The dollar being so weak isn't helping us at all...

Answer 2

The economy around the world seems to be fluctuating. I shall as always remember Ireland in my daily devotionals. Peace&Love be with you...~M~

Answer 3

Its not only Ireland. The UK is reeling too as is all of the EU as percentage rates go up and up. The EU is trying to curb inflation by doing so but it makes it seem worse than it is. The US is the main cause of it, they decrease the value of the dollar so nobody there wants to buy expensive European products. The US itself is reeling from mortage repayments. Anyone in the US that would consider investing in Ireland is being put off by the situation in their own country. The direct result of this is that companies such as Kielys don't have any money and they go bankrupt. This was what happened during the wall street crash as well. American investors pull out and everything comes tumbling for a short while. It'll pick up again in a few years (very short few).

If you have any spare money it would be a really good investment to buy government bonds as they give money to a cash strapped government and the government sells them cheap because they are cash strapped. When things pick up again the price of them will soar.

Oil... the current prices is because oil is priced in the dollar and the dollar is sliding. Added to that is that India and China are catching up fast and demanding fuel. There really is no alternative for Ireland, oil prices is something we must bear. If the National Development plan stays on course, we should be less dependant on oil for energy as renewable sources take off, but we'll still need to import oil (or energy) to supply our needs. Either way we're going to pay over the next few years.

Answer 4

Yeah it's worring me a little. I'm looking for a new job and it's not looking good. But it's what you would expect after the so-called "celtic tiger"... I just hope that the damage will be limited and Ireland won't turn into another Italy.

Answer 5

the rising of gas will effect everything that has to do with living.

Answer 6

No, i live in the U.S.