Ireland and the American economic crisis

republic of me

Ok i know things are very bad in america with debt and you may all think me selfish to just be worrying about my own patch of ground and not care less about the rest of the planet but most people dont expect Ireland to be out of recession within the next 10 years and seen as most of our foreign direct investment comes form America and a lot of our tourists (second only to the UK) come from America. I just want to know what everyone thinks the knock on effect will be on Ireland and other European countries.

L Ron Howard

I don't now if there is a solution, I just know you guys have been suffering over there with an even worse economy. I hear all the time of all the young, employable people leaving the country en masse to go to another country where they might find work, usually to England as it's the easiest.
Maybe some background information and figures would be more relevant.

Chanus

It's kind of intertwined... as it's not just America dragging the world economy down at the moment, but a fun combination of us, Italy, Greece. Spain, and now Switzerland chipping in by devaluing their currency.

So, basically, we're all in this together.

If the Euro falls apart, it's going to be a shitstorm, but I think America is going to come out after a slow, plodding recovery (barring any unforeseen bad times), and so long as things don't go wrong, here, we won't have much negative impact elsewhere. Like, we're kind of in a position where us doing better means things don't get worse on account of us, but if we fall apart, we're going to drag a lot down with us.

Ireland has its own problems to sort out, though. Going from essentially a Third World country to booming economy in about two decades means a lot of bad decisions were made.

republic of me

I know a lot of bad decisions were made there was neither sense nor meaning to the amount of big roads projects that underwent here. the tunnel under the shannon river is costing us 10,000 a day because it isnt caring enough traffic for the private company that put up the toll. the Irish health service costs as much per year as it costs to run NASA for 2 years and our Prime Minister earns 3 times what barak obama earns. Its a bit like winning the lotto and blowing the lot on a gold plated Ferrari and living off of tinned beans for the rest of your life

JihadJesus

And don't forget, China is supposedly tossing around slowing growth rates. That oughta help global demand in a big way, right?