Friday, 14 August 2009

Irish Economic Recovery, Dead Cat Bounces and Ex-Parrots

There are tentative signs of economic recovery in France and Germany, as both economies showed growth of 0.3% in the second quarter of last year, it seems.

But before our discredited economic cheerleaders take the dais to speak up the prospects of the Irish economy, it might be worth considering that neither of those countries distorted their domestic economies through tax breaks and shelters, and reckless lending.

Therefore, rather than looking to the economists for guidance – and seeing how they got it so wrong for so long in the past – maybe we should look to science instead? Namely Newton, a man who wasn't afraid to look the sun in the face and write about it later.

Newton's Third Law states that “for every action, there is an equal and opposite reaction”. Applied to the Irish economy, that means that we can expect a slump of intensity and duration to equal that of the Government/Bank generated boom which preceeded it.

Or maybe we can look to zoology, and swap Monty Python’s dead parrot for the Irish Economy? “It has expired and gone to meet its maker!…. It is an EX-PARROT!”.

Whatever about parrots, we'll be lucky if we even get to see a dead cat bounce.

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