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Cinnamon patrol

Mr and Mrs Lili Wedding

 

49,000 people made redundant in Ireland in 2009 (so far)

From http://www.independent.ie/breaking-news/national-news/49000-people-made-redundant-in-ireland-in-2009-1852322.html:

New figures from the Department of Enterprise Trade and Employment show that 49,009 people have been made redundant so far this year. Over 6,350 were laid off last month alone.

The rate of increase for the year to date is 142%.

Director of the Small Firms Association Patricia Callan says that urgent government action is now needed to stem the rise in job losses.

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When economies go bad...

More bemoaning the Irish economy, this time from a new report by the IMF.

From http://www.independent.ie/business/irish/long-painful-road-to-recovery-lies-ahead-1789196.html:

The IMF says: "The economy is in the midst of an unprecedented correction. The stress exceeds that being faced currently by any other advanced economy and matches episodes of the most severe economic distress in post-World War II history."

The report also warns that Ireland has become the most expensive place to do business in the eurozone.

Even if action is taken, there will be no early return to growth. "The correction of distortions induced by the nexus of property and financial developments will further pull down potential growth in the immediate future, before it rises back to a 2pc range by the close of the forecast period in 2014," it says.

Emphasis mine.

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Warning – your investment may go up as well as down

Thanks to David McWilliams' column for pointing me to a brilliant Irish blog on economics.

This guy blogs about the kind of stuff that I want to read. Actually the kind of stuff I would like to write. If you're at all interested in economics I strongly encourage you to read it.

And to tempt you further, here is a selection of things to read:
Great stuff Ronan!

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Economy bad but we found a great waffle place

See: Ireland and Italy least competitive of EU states.

The 2009 European Growth and Jobs Indicator due to be published today shows Ireland has slipped from fourth to 13th place in a single year. It notes that economic growth, productivity and the public finances have all “deteriorated precipitously”, driving the country’s overall score downwards below every EU country surveyed, bar Italy.
Just more bad news, but it gives you an idea of what's going on here.

On the positive side, there are lots of indicators where I'd like to be next to Italy: The 2009 Espresso Quality Indicator, The 2009 Neopolitan Pizza Deliciousness Indicator and The 2009 Cities like Florence because Florence is so cool Indicator to name a few. On the negative side, Dublin wouldn't rate too highly on these indexes either.

But we're always top of the Craic Indicator, so who cares.

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Economics with Laura: Lesson 2

The necessities of life

Everyone's idea of the necessities of life are different. Presumably because we're all different. I mean, apart from the biological necessities of life (air, water, food, etc.) there are some pretty diverse opinions on what you need to survive.

Me? Well, I need David (duh), a spacious apartment, white bread-based items, regular sleep, very high speed Internet access, the ability to travel, books to read, a tv to watch, and knitting materials.

(Oh, and the promise of Guinness, chocolate, and yummy goat's cheese.)

Julie has an interesting post on her blog about knitting and thrift, and how knitting is not generally a cheap hobby. Which is all true: knitting is not cheap.

But I'd much rather have knitting than a fancy phone or iGadget or swish car. My priorities mean that while I kind of need a cellphone and car, and my iPod nano is nice, I don't spend loads of money on them, because they are less of a priority.

Which is fine. Even my knitting has some financial constraints, and I am slowly but surely making it my business to discover viable alternatives for many lovely but expensive brand-name yarns.

And if push came to shove and we had no money, I'd put food & lodging ahead of knitting. It pains me to say it, but I would. Because when it comes to the crunch, you have to be realistic and prioritise.


So I get fairly peeved when I hear people - and this is not just in Ireland, it's everywhere - saying how "poor" they are, in their fancy new designer clothes, with all their gadgets. You aren't poor, you just spent your cash on stuff and ran out before you got everything that you wanted.

And while I'm all for social welfare initiatives, I sometimes wonder at what some recipients are spending their cash on. I don't agree with someone spending their benefit on a state-of-the-art tv, or cigarettes, or loads of booze, then saying it's difficult to feed and clothe their family.

It doesn't help that kids are all into getting stuff. For example, do ten-year-olds really need cellphones? And if they do, do they need the latest ones? Wouldn't they be better off with old Nokias, which are far sturdier, and cheaper to replace when they get lost/dropped or whatever?

Everyone seems so caught up in a whirl of consumption that the goalposts on the necessities of life have been dramatically shifted. It isn't about the real necessities, it's about what used to be luxuries.

And so, the lesson in brief: if it isn't water, food, shelter, medical care or love - it probably isn't a necessity of life. And the more the person protests, the less essential it probably is!

(Apart from yarn, that is an addiction. Really.)

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Economics with Laura: Lesson 1

Discounts; or, "It's almost free"

If an item is half price or less, it is "almost free".

If an item is 40% off or more, it is "almost almost free".

You can safely buy a few more items that you would normally buy when they are almost free, or almost almost free.


In related yet unrelated matters, food and beverages given away freely at a conference are truly free. (Even more so if you aren't personally paying the registration fee.)

If they are non-perishable, like, say, a bottle of diet Coke, it is ok to take said item with the intent to consume it... and then to not consume it that day, but at a later date. Especially if you have to get up very early to go to Swindon the next day, since caffeine keeps you awake.

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