25 thoughts on “For The Times We Live In

  1. Kolmo

    All these economic recoveries rely heavily on a delusion – if enough people buy into the delusion being pumped out by certain elements of the media – they spend, and by spend, they overextend themselves financially to get on a rigged property ladder or a 2015 car – et voila – an economic recovery (temporary pyramid).
    The Media cannot be trusted (almost entirely)
    The Government sure as sh*t cannot be trusted.
    Common sense and logic needs to be applied by those stung by the previous economic recovery ignoring all the noise.

  2. andyourpointiswhatexactly

    Well it says under the photo of the shoppers on the Irish Times that GDP grew by 0.1%.

  3. zynks

    So GDP figures were distorted by the pharma sector? Just goes to prove that GDP\GNP figures have absolutely nothing to do with how people are being affected by the economy. We need a new set of indicators…
    As for the IT’s economic lipstick, well….

  4. Owen

    At a guess….Overall growth vs Growth rate.

    3.5% overall growth at a rate of 0.1%, which is a lot slower then the 2nd quarter.

  5. louislefronde

    Well the Irish Times is in the business of selling property advertising. Remember this is the paper that sold its offices on D’Olier Street for €50 million and bought….. a website?

  6. Mark

    Its 0.1% for the quater, or 3.5% annually.

    The FT always reports the Ireland negatively. If it was a story on the UK, their 0.1% would magically be reported as 3.5%

    1. Willie Banjo

      Eh, to be fair, the FT has an excellent record on objective financial reporting. On the other hand, the Irish Times sold us a housing boom.

    2. Chris

      Idiotic comment, the FT is one of the most respected financial news-sources out there.

      To say they have a “grudge” or something against Ireland is ludicrous. Grow up. There are plenty of negative stories on the UK especially in relation to regulation in the City etc

      1. Atlas

        They had a major hate-boner for Ireland after the bank guarantee scheme f*cked over all their mates in the City, I remember that much.

        No news source is totally objective.

    3. Xena

      Sure, I’ll believe the inbreds over at the Irish Times over the experts in the Financial Times. Sure. I’ll do that.

  7. Conor Humphries

    Irish GDP in July-Sept 2014 was 0.1 pct bigger than April-June 2014, but 3.5 pct bigger than It was in July-Sept 2013. One is quarter on quarter growth, the other year on year. Both are right.
    It’s glass half full/glass half empty stuff. Figures yesterday werent dramatic, so journos take a line

  8. Eddie

    Due to the small readership base Irish newspapers and now world known broadsheets are being destroyed off any sort of impartiality due to how revenue streams are generated.
    Irish Times Trust like most Broadsheet\Tabloid print and online media is devoting more to a new type of reporting i.e. content driven by native advertising. ( https://www.youtube.com/watch?v=E_F5GxCwizc )
    Irish Times get’s massive amounts from Property Advertising so it’s no surprise they report economy statistics differently to say the Financial Times. If Property is generating revenue they will hype it as much as possible as then they get more cash from advertising.

    it’s a shame but i think it’s save to declare the days of non biased reporting are a thing of the past.
    money talks

  9. Ger Nalist

    Irish Times is going growth so far this year, Financial Times just for the last quarter

    Nothing to see there. Especially not a media conspiracy

  10. Artemis

    And more specifically.. here –

    Now, we’ve heard about ‘strange’ practices of outsourcing production by the MNCs, the pharma companies beefing up cost base shifting and other polite society’s ways to create activity where none exists. May be the discrepancy is down to that. Or may be not. May be someone forgot the abacus and decided to count things using Mayan ‘alphabet’… I do not know. But EUR6 billion unexplained ‘gaps’ are a bit too much for confidence building when it comes to reading GDP figures.

    Still, let us soldier on.

    As you would have noticed from the previous post, our ‘recovery’ ain’t doing too well when it comes to people actually having much cash to spend. But we do have, at least officially, a recovery in exports. Let’s chart the two:

    All in, we have, as the first chart above shows, a robust ‘exports-led’ recovery. But, per discussion earlier, this recovery is suspect as it cannot be confirmed even remotely by the official trade statistics coming out of trade accounts. As Bill Gross says: “Something’s fishy.”

    And we have 0 comments at Constantly’s place to hash it all out… Hmmm.

  11. Zynks

    The day we figure out the difference between investment and speculation our house of cards may come tumbling down quite dramatically.

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