The Celtic Tiger Savaged the Irish

[brown9ja]

The Irish have to understand there is nothing like a free lunch..the Day of Reconning has arrived,the Euro is not working Ireland is trapped,cant devalue,cant move forward...

[TheDerekdub]

A bubble economy, yea tell me something i don't know.

[Seano71]

In the early 90s we had real economic growth with many corporations setting up here thanks to many factors. One being our low corporation tax.

[KyotoMartyn]

@Seano71 True - back then. But, the amount of taxpayers money being spent by the Irish state to rescue Anglo Irish Bank / its creditors alone is likely to be around 20% of Ireland's GDP. A stunning amount.

Alas, the future is a) low economic growth (say 2-3% pa) , lower wages, much higher taxes and a resumption of emigration.

[Seano71]

@KyotoMartyn yeah, we're looking at a lost decade to pay off all the banks debts. Its tragic and I can't understand why people are putting up with it. My bet is people here are too stupid to figure out we've been conned and screwed up the arse. However, I still think we'll have another boom after the lost decade and it will be sustainable.

[stupidjunk978]

He's mad after his 18 year cycles

[15peter2015peter20]

I've just finished reading Ricardo's Law. Fred Harrison should be the Chancellor of the Exchequer! Bloody brilliant book.

Jim Rogers advises Brits to LEAVE, says that Sterling and the British economy are FINISHED. I think he's right. The ONLY way house prices won't collapse is if the currency does first: then houses will be worth £300k, because a bag of sugar will cost £100....

[quee1605]

I rather wish you'd have uploaded the entire lecture.

[justjacqueline2004]

I am sure your Trinity audience,home of cronyism and nepotism,would have loved to vote for the property tax.Like rats voting for vovisection.

[soulwam]

Thanks Fred. Eighteen years? That's news!