Enda Kennys “We All Partied” Moment ?

Among the many things that spelt the death knell for the last government was Brian Lenihans statement

“Let’s be fair about this – we all partied”

Viewable here

Then we had this today from Enda Kenny

Taoiseach Enda Kenny has blamed Ireland’s “spectacular” economic crash on a “mad borrowing” frenzy.

“What happened in our country was that people simply went mad borrowing,” Mr Kenny told a meeting at the World Economic Forum meeting in Davos, Switzerland.

“The extent of personal credit, personal wealth created on credit was done between people and banks – a system that spawned greed to a point where it just went out of control completely with a spectacular crash.”

He gives the impression that the whole country went mad borrowing for the sake of it.
But like many of you I had to borrow to buy an overpriced home. It may have been ‘mad’ but we had to have somewhere to live.
Like the vast majority I didn’t buy an investment property either. I didn’t drive a new car (Indeed we’re a one car family) , go on mad holidays , have flat screen televisions in every room and so on.

At least I’m in Dublin (close to family) , unlike some of my friends and relatives stuck down the country with a big mortgage and a property worth less than half what they paid for it.

Needless to say its those that got little or nothing from the boom that are amongst those now suffering the most from the “austerity”.