NiallOK’s Blog

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Those people in the bank who predict the future today decided that the future was bleaker than they thought, that the economy went wallop faster than they thought, that the situation is more worrying and drastic than they thought, and that our belts are going to have to tighten significantly as the world recession kicks in. Here’s looking forward (?) to working harder and spending less… I guess (especially now that Social Welfare aren’t going to help me with going back to college and I’ll have to work part time… bah!).

One of Bank of Ireland’s Economic Analysts (and if anyone should know, they should) said on the radio today that their original prediction of the economy enjoying a minimal 3% growth in 2008 has now been revised and they expect growth in 2008 to be approximately ZERO, with the potential for 1.5% growth in 2009. Along with that, they do still expect the cost of living to increase - with electricity bills jumping up by a quarter and other fuel bills going up significantly. Bleak times ahead, indeed. Sucks, doesn’t it?