End of the Celtic Tiger

[peppersdog1]

ny beloved ireland is fucked

[conjoly]

@peppersdog1 It's not. Don't get carried away by the hype.

[breda83]

The most stupid race of people on the planet

[ruawow]

there was no celtic tiger the fekking banker scum flooded the country with worthless paper and the dumb down irish took the worthless paper in exchange for all the real wealth the land, oil, gas, etc about time the irish people woke up

[Skoda123Driver]

fuck you celtic tiger, fuck you right now with the zentralabitur

[D3volutionz]

Someone in this room sucks tha magestic balls of the tiger, truely.

[D3volutionz]

Hurensohntiger

[DJSchmalzkuchen]

Scheiß Schwuchteltiger!!!

[Arepsi]

Der schwule Tiger stinkt!

[tiger5455]

celtic tiger was the biggest joke ever,an fecking dog on the street knew that building houses was a false economy,then we have the people trying to keep up with the jones living off credit and now turning around whingeing its the banks fault for it,ok it was in some parts,but nobody forced you to take out a credit card with 20 grand on it,,ha i dont even see the bimbos in their builders husbands suv on road now

[NearAbbeyRoad]

@tiger5455

The problem and the solution, was that land "values" were not taxed. That keeps land prices in check and eliminates income tax.

[cloverfield911]

The Celtic Tiger was the worst thing to happen to Ireland. It turned us all into arrogant snobby assholes!!! There was a time when you would pass people on the road and wave. Not now.

[selldomvideomaker]

To be honest I don't care how and why it happened. I want to know when and how it will be fixed.

[itierney]

You have to understand how it happened in order to fix it and to ensure it doesn't happen again.

[selldomvideomaker]

Well we're going to have to fix it first. Then worry about it not happening again.

[NearAbbeyRoad]

@itierney

You need to know the problem, which Fred Identified and the solution, which Fred identified.

[yocanbanconit]

I remember in '91 seeing young Irish people working all over Europe and in the States. They all seemed to accept their country's plight with a smile. I was happy to see Ireland's recent economic boom, but it was so short lived. If any people have the inner strength to cope and overcome adversity, it's the Irish. The Emerald Island will be back!

[Andre2010]

That rings awfully close to the situation of my country, Portugal. Except we havent had an economic boom with such extent like the one you´ve had in the 90s. And the conformity to the plight is the same in here. The 00s were our dark decade, 3 recessions since 2000. Not to mention we´re the champions on sazonal migrant workers in the EU.

[shellyriver]

Ireland has had a property boom before this last one. What a simplistic take on the demise of Celtic Tiger.

[o10ciano]

In July 2005, Mr. Dunne paid 379 million euros for a seven-acre plot in the exclusive Ballsbridge neighborhood of Dublin and promptly announced that he would tear down the two luxury hotels on the site to build a high-end commercial and residential development.

[ourearthhome]

The removal of property taxation from residential property in the US took place to a large extent by the infamous Prop 13 in California in the late 1970s and the same mistake is being made in Indiana and Florida. The property tax is under attack elsewhere. If the US ever recovers from the current real estate, i.e. land, speculation bubble, there will be a new round of property value run up because of low taxes on land value and too much money spuriously pumped into the economy by the Fed.

[BubbFromGEI]

"Ireland reemoved the tax from residential property... unprecedented in the world." And now after 18 years, the "mother of property booms" is ending.  Harrison wants to see Ireland change its tax policies, or it may face another mass exodus, as the economy crashes.

It will be interesting to see whether the UK or Ireland suffers the most in the years to come. Both will suffer greatly as the excesses of their property booms are corrected.

[NearAbbeyRoad]

@BubbFromGEI

Separate the house (the bricks) from the land. Tax only the land value - the current value of the land, not the house on it. That is what Fred is saying. Those with an acre of land in he wilds pay little as the value is low, those with an acre in central Dublin pay more. Assessed every year.