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Sunday Independent Stupid Statement of the Week November 3, 2013

Posted by Garibaldy in Sunday Independent Stupid Statement of the Week.

Carol Hunt has an interesting piece about how the recession has affected some people a great deal more than others. Or at least it would be, if it weren’t for this.

Who are these people? Well, we know – depending on which analysis is used – public sector workers earn on average between 20 and 50 per cent more than their private counterparts, but our recession-proof people are not solely made up of those who work for the State; though the ones with secure jobs, guaranteed pensions and annual increments do tend to feature most prominently.

There’s also the Google generation – the young ones who have good jobs and a lot of disposable income to throw about. They have few, if any, debts. They have no dependants or loans or financial obligations. Ditto those older people who have their mortgage paid off and now own their property, particularly those wily public sector workers who had the cop to take early retirement and can now cocoon themselves with a pension their replacements can sing for.

She then goes on to explain to her public sector friends how austerity is affecting people like her, chastising them for not knowing how the recession is affecting people. One wonders if it has ever dawned on her that public sector workers might just be suffering cuts in living standards. I suspect not.

First prize to Marc Coleman.

But we need to go further. If fundamentals point to the potential for price rises, whether that process will be smooth and well-managed or a stop-start joyride depends not on fundamentals but on a very different set of influencers: market fundamentals – income and demand – determine where prices should settle.

And a prize to anyone who can make sense of that nonsense.

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1. Dr. X - November 4, 2013

To quote Marx, “Any resemblance between these characters and any living persons is purely coincidental”.

2. 6to5against - November 4, 2013

Lest we forget though, that this craziness really has an effect, I heard an otherwise sensible friend of mine go off a rant recently which was clearly an amalgam of many of these indo/It pieces, including all the usual ‘facts’ – that ps workers have been protected, that they havent taken any hits, that they have gold-plated pensions, that they dont pay for their pension, that they write the rules to suit themselves…

ejh - November 4, 2013

It’s when people use the clichés that you know they’re just regurgitating without thinking (e.g. “gold-plated pensions”). Unfortunately, the nature of regurgitating without thinking is that you can’t argue with it.

crocodileshoes - November 4, 2013

The one sector of the workforce in which literally every single worker has taken a demonstrable and quantifiable series of hits is the public sector. Whoever is buying the champagne mentioned in Ms Hunt’s article, it isn’t nurses or teachers.
Of course, she’s so blinded by the ‘public bad/ private good’ dichotomy that she can’t admit the existence of a thriving cohort in the private sector and the professions – of which the young IT crowd is but a small fraction – that has come through the slump with very little damage ( perhaps a prolonged pay freeze at worst).

3. irishelectionliterature - November 4, 2013

The Indo delighted with itself today …
A FAMILY could be €4,000 a year better off on social welfare than with one parent working full time in a minimum-wage job…

Not a word about increasing the minimum wage though!

4. John Cunningham - November 4, 2013

In the latest volume of his autobiography, Tony Benn writes: “If I’m a national treasure in the Telegraph, something’s gone wrong.”

Should Joe Higgins not be concerned about his canonisation, more or less, in yesterday’s Sunday Independent?

Dr. X - November 4, 2013

Well, I don’t have time to read the piece, but I assume it’s really saying “I, Shane Ross, am also a maverick people’s champion who thinks outside the box”.

Got to keep putting those “songs in the key of me” on the jukebox.

5. Gewerkschaftler - November 4, 2013

Coleman’s quasi-sentence is not meant to convey information, much less concepts. It’s a ritual incantation of randomly thrown together elements from the neo-classical spellbook.

If you repeat them often enough while gyrating widdershins the magic market-fairy appears and sprinkles you with perfect rationality and symmetric information.

RosencrantzisDead - November 4, 2013

It appears that reality has intruded on Marc Coleman and he has learned that his past behaviour at prediction is about on par with Irish Psychics Live. Why else would Coleman congratulate himself for ‘predicting’ these events:

1. after a credit bubble, credit tends to become scarcer;

2. after a housing bubble, the price of houses tends to fall; and,

3. the population of Ireland will rise over time?

He is claiming that we are heading towards ’2005 levels of employment’ although he neglects to provide a time frame. he also claims there is a housing shortage and we need to build more houses now. He does not seem to factor in the fact that, in a depressed market, people will withdraw properties from the market, hoping that they can wait until it rises.

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