From an interesting article that Eric Janszen wrote for Harpers:
Because all asset hyperinflations revert to the mean, we can expect housing prices to decline roughly 38 percent from their peak as they return to something closer to the historical rate of monetary inflation. If the rate of decline stabilizes at between 6 and 7 percent each year, the correction has about six years to go before things stabilize, leaving the FIRE economy in need of $12 trillion.
[Emphasis mine]. He was talking about the US and I can’t see why Ireland will be any different – obviously the total â‚¬ amount to pull our FIRE economy will be different but ‘de fundamentals’ are just not sound any more. His suggestion that alternate energy research could be the next big(ger) bubble seems to ring through, necessity is the mother of invention and invention these days is an expensive business.
(Wired also have an interesting interview with Janszen)
dollar, economy, housing, ireland, us
I’ve just realized I can’t make it to/speak at Creative Camp this coming Saturday as I am already booked into a pre-marital course in Dublin on the same day. I had, for some reason only know to me, thought Creative Camp was on Sunday and in my own little plan it was going to tie in nicely with an overnight visit to the home town to congratulate my brother on his recent engagement.
Doh! Apologies to Ken and Keith for the late notice. Next time, I swear…
Pat Phelan: Irish taken as fools as O2 Ireland iPhone package comes with attached â€œPaddy Tax”
Irish company Cubic Telecom today blasted the prices that people will have to pay for the iPhone when itâ€™s introduced in Ireland on March 14th. Cubic Telecom CEO Pat Phelan, speaking on the packages said:
â€œThere is no excuse for paying such high prices and getting so little in return. The minutes, the text bundles and the data package are completely inappropriate for Irish people and the massive difference in what Irish and UK and Northern people get for the same price suggests that theyâ€™ll throw any old scraps at the stupid Paddys. â€
Phelan is calling for a boycott of the phone until o2 rethinks their charges. â€œItâ€™s time for us Irish to tell O2 weâ€™re not going to accept this. We have Appleâ€™s European HQ here in Ireland, the iPhone itself is fantastic but thereâ€™s no way we should buy this phone until O2 cops on and looks after their very loyal customers here. We should get the equivalent package theyâ€™re getting in the UK and Northern Ireland
Too fucking right. I don’t even want an iPhone – I just want affordable mobile internet access. Irish consumers are and have been gouged by a mobile network oligopoly in this country for years. It is the giant elephant in the room that everyone knows is there but nobody in power has the balls to do anything about. O2’s latest ‘product’ is yet another “up yours” to us stupid Paddies, our inept government and communications regulator. Hey, we’ve put up with with it for so long, why would anything change now?
A boycott of high end packages like the iPhone plans or broadband dongles won’t work. You’d need to get every soul in the country to stop sending SMS messages in order to get attention of these boyos.
iphone, ireland, irish, o2