Skip to main content

Doom Gloom Nation...

We are a nation of brooding pessimists, research finds...


MAYBE IT’S our gloomy weather, 800 years of colonial oppression, or just listening to George Lee for too long.

Whichever, it is official: we’re a nation of brooding pessimists.

New international research shows Irish people have the darkest outlook on the economy and believe the current crisis will last longer here than anywhere else.

That’s according to a poll of 19 countries on economic confidence. The Irish survey of almost 1,000 adults was undertaken by Behaviour Attitudes last month. A majority of Irish adults believe the situation is the worst it has ever been in their lifetime, while about half believe things will get worse in six months.

When asked about the inevitable upturn, it seems the Irish habit of finding a dark cloud in every silver lining continues: most feel it will last well beyond two years.

In contrast, people in the US are positively upbeat, with a majority expecting their personal circumstances will improve over the next six months. Even the Russians, not known for their sunny disposition, are more optimistic on this front than the Irish.

In most polls you can expect the odd discordant voice, someone who for reasons of bias, ignorance or just pure devilment takes an opposing view from the majority. Not this one. How many people feel the economy in Ireland is getting stronger, or even a little stronger? Zero per cent.

Despite the overwhelming sense of gloom at home, we seem a little reluctant to change our spending ways. We’re less likely than other countries to cut back on food or clothing, and we’re less likely to work longer hours to make up for lost income. Irish people are making some sacrifices, though. When asked – theoretically – what would be the first thing you would cut back on, holidays topped the list.

The extent of the national depression is likely to take many by surprise. It seems like only a few short months ago we were the most optimistic people in the world, living for the moment, seeing a sun-lit upland where others only saw gloom and privation. All that has changed.

There is one reassuring constant, though: the Government is always to blame. In fact, people are more likely to blame the Government for the economic crisis than either the banks, financial institutions, the Central Bank or the culture of corporate greed combined.

Some 39 per cent in Ireland blame the Government, compared with just 5 per cent in Germany.

But even in these parlous times, it’s good to see someone has a sense of humour. When asked about the Government’s response to the crisis, 1 per cent said it was doing “too much”.



Report by CARL O'BRIEN - Irish Times.

Popular posts from this blog

The State is about to create another housing bubble...

The Irish economy is set to repeat its old mistake of excess mortgage-lending... The run-up to Christmas is always a good time for burying bad news and this year was no different. On the Friday before Christmas, Bank of Ireland announced it was going to have to put more money aside to absorb possible losses on Irish residential mortgages. Just how much more money was not very clear but it would appear to run into several hundred million euro. The statement was extremely technical and did not actually talk about losses or defaults. But the point is clear. The bank had already put aside some money to absorb losses that might occur as a result of people not being able to pay their mortgages. It now seems that more people than expected are going to default and the bank has had to put some extra money aside. It is as timely a reminder as you could hope for that the Irish banks are still broken and still fighting their way through a mountain of problem mortgages as a result of their rec

Ireland's Celtic Tiger Excesses...

'Bang twins' may never get to run a business again... POST-boom Ireland is awash with cautionary tales of Celtic Tiger excesses, as a rattle around the carcasses of fallen property developers and entrepreneurs will show. Few can compete with the so-called Bang twins for youth, glamour and tasteful extravagance. Simon and Christian Stokes, the 35-year-old identical twins behind Bang Cafe and exclusive private members club, Residence, saw their entire business go bust with debts of €9m, €3m of which is owed to the tax man. The debt may be in the ha'penny place compared with the eye-watering billions owed by some of their former customers. But their fall has been arguably steeper and more damning than some of the country's richest tycoons. Last week, further humiliation was heaped on them with revelations that even as their businesses were going under, the twins spent €146,000 of company money in 18 months on designer shopping sprees, five star holidays and sumptu

Top property sales 2016 – who bought and sold...

The year saw a shift from D4 to D6 while the country market slowed on the previous year... DUBLIN... Dublin 6 dominated top-end sales this year and, in particular, Dartry. Whereas in other years coastal south Co Dublin and Shrewsbury and Ailesbury Roads have dominated, Dublin 6 and the area around Temple Road have become hot property. Top of the list was the purchase in May of Alston at 19 Temple Road for a whopping €10.225 million when former Paddy Power boss Patrick Kennedy traded up from his home on nearby Palmerston Road. In a quiet off-market deal, the Victorian property, on one acre, was sold by barrister Vincent Foley and his wife, Helen, who have lived there since the late 1980s. Around the corner at 5 Temple Gardens, €6.5 million exchanged hands when the detached redbrick house on a third of an acre owned by the late barrister and former attorney general, Rory Brady, sold in another off-market deal. Not long after Subiaco at 1 Temple Gardens sold for €5.85 million shortly a