April 28, 2010

Silent Observer

Posted in Your Ideas ·
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Hi David,
I have been following your web site for the last year or more, and watched the program last night. I don\’t work in any sector related to finance or property. I\’m sure there are a lot of “hack economists” like myself that follow your site, but without the technical knowledge in the field, and therefore don\’t post comments. Well I hope I speak for these by saying a heartfelt thankyou for your site, and expertise in the field. As far as I can see you were one of the few principled visible experts to fully and persistently predict the outcome of the dire road we as a country were travelling on economically. I like many, even without technical expertise or knowledge, instinctly thought that since about 2000, there was a sense of extreme unreality in the economic development and the apparent casting off of previous economic tenants, such as saving, and always borrow with caution etc.
Also like many, I know the pressure being put on my generation to buy overinflated housing, and have sympathy for those that did. Several times I nearly succumbed to this pressure, but fortunately held out. My fear is that with NAMA, our government now has another vested interest in returning over inflated property (along with stamp duty), potentially putting the next generation into the same mess.
Please, please keep publicising your opinions, until the public, and people in positions of power listen to what you have to say, and hopefully find fairer means of resolving the country\’s economic woes. Even if it means losing my savings, I feel that letting banks collapse, and others replace them is the only fair ending to what has happened. This may also help make Ireland more competitive again by reducing labour costs, and costs of living.
Thanks for your “voice in the wilderness”, and hope by knowing that many are sitting up and listening to you, even though not always giving feed back, inspires you to keep voicing your opinion; you have had to take a lot of criticism from ignorant vested interests over the years, and ultimately have shown these people up for what they are.