The Big Yogurt.
Ok I have been resisting the urge to talk about the big "D" in the economy mainly because I subscribe to the view that it is a self fulfilling prophesy and if we keep talking about a "d" then it will eventually happen. So instead of talking about a "d" in the economy or an economic "d" I am proposing that we use the word Yogurt for the rest of this post. Why Yogurt you may ask, well because a)its funny to think of an Economic Yogurt and b) A Yogurt is made in a specific way of blending a series of ingredients in order to get the consistency right.
So what evidence is there to support the argument that the Republic is in the beginnings of an economic Yogurt? Well since the start of 2008, we have seen a decline in the number of houses being built, a couple of hundred jobs shed around the country and a currency exchange rate go up against the dollar which affects our imports and exports. So we are screwed right? I disagree and I'm not an economist or anything remotely associated with the Financial Sector. I am a typical Irish citizen who has benefited from the growth rates of 10-14% over the early 2000s which was great. I have not known a time when I have solely needed to rely on the state. I have been lucky that I have always got what I needed and sometimes more. I appreciate that and I am thankful for it. So whilst I don't believe we will continue to enjoy those growth rates for a long
time to come, because I think that is just unattainable to have that continually, a growth rate of some 4-5% is much more manageable.
So what has prompted this post? Well this afternoon, the Examiner's breakingnews reported that there was a 0.6% drop in Retail sales in February in the U.S. . Ok whilst I am sure it is a potential loss of Revenue in the retail companies in general, there is no way you can sustain the spending which was being drolled out by Consumers over the last couple of years. So what has this to do with Ireland and its potential "yogurt". Well its' simple if the US catches a sneezes, we apparently get a cold if you are to believe the rhetoric of what George Lee, RTE's economic editor, has been saying for the last 4 years. And since the apparent makings of the yogurt last summer, George was assigned off in China. Why? Well he made a good documentary out there but the Lee Prophsesy of Doom and Gloom was coming through in Ireland.
However what I find interesting about the language of the Heading of that report is "Retail Sales Plunge by 0.6 Percent". Ok now seriously? a plunge? at 0.6 percent? I honestly do not think it is a plunge per se. Coupled with the drop over xmas and january, it may constitute a drop in retail sales but a plunge? I disagree. Like I said earlier we are talking ourselves into a bleeding yogurt at this stage!
The problem with yogurt is that it can go off if it is not eaten before its sell by date-pretty obvious. How do you get a good balance. I don't know, But talking negatively does not help anybody. Time to get up and get on with it...
Oh and I will have a Hazlenut Yogurt if anybody is offering.
So what evidence is there to support the argument that the Republic is in the beginnings of an economic Yogurt? Well since the start of 2008, we have seen a decline in the number of houses being built, a couple of hundred jobs shed around the country and a currency exchange rate go up against the dollar which affects our imports and exports. So we are screwed right? I disagree and I'm not an economist or anything remotely associated with the Financial Sector. I am a typical Irish citizen who has benefited from the growth rates of 10-14% over the early 2000s which was great. I have not known a time when I have solely needed to rely on the state. I have been lucky that I have always got what I needed and sometimes more. I appreciate that and I am thankful for it. So whilst I don't believe we will continue to enjoy those growth rates for a long
time to come, because I think that is just unattainable to have that continually, a growth rate of some 4-5% is much more manageable.
So what has prompted this post? Well this afternoon, the Examiner's breakingnews reported that there was a 0.6% drop in Retail sales in February in the U.S. . Ok whilst I am sure it is a potential loss of Revenue in the retail companies in general, there is no way you can sustain the spending which was being drolled out by Consumers over the last couple of years. So what has this to do with Ireland and its potential "yogurt". Well its' simple if the US catches a sneezes, we apparently get a cold if you are to believe the rhetoric of what George Lee, RTE's economic editor, has been saying for the last 4 years. And since the apparent makings of the yogurt last summer, George was assigned off in China. Why? Well he made a good documentary out there but the Lee Prophsesy of Doom and Gloom was coming through in Ireland.
However what I find interesting about the language of the Heading of that report is "Retail Sales Plunge by 0.6 Percent". Ok now seriously? a plunge? at 0.6 percent? I honestly do not think it is a plunge per se. Coupled with the drop over xmas and january, it may constitute a drop in retail sales but a plunge? I disagree. Like I said earlier we are talking ourselves into a bleeding yogurt at this stage!
The problem with yogurt is that it can go off if it is not eaten before its sell by date-pretty obvious. How do you get a good balance. I don't know, But talking negatively does not help anybody. Time to get up and get on with it...
Oh and I will have a Hazlenut Yogurt if anybody is offering.
Labels: Economic Yogurt, Economy, Examiner, George Lee
posted by John James at
4:49 PM
1 Comments:
Your optimism is encouraging! Whatever kind of "yogurt" is on the way I hope it passes us by. 4-5% growth isn't manageable, it is nearly impossible now, anything above 1% will be tasty, if not Hazelnut then my favourite...Vanilla. :)
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