Irish Exports Down 8% in February

[Cassandra Syndrome]

The Government and ESRI predicted a bumper year for exports. They claim we can reduce wages and export our way to recovery. Fiddlesticks.

February is normally a bumper month and is 15% from its peak. The ESRI thinks we can export over 80 Billion Euro of goods. This suggests the low 70 Billion. Imports are down 14% and a whopping 35% from peak as consumption collapses.

Chemicals and Pharmaceuticals now represent 62% of our exports.

http://www.cso.ie/releasespublications/documents/external_trade/current/extrade.pdf

[Xray]

Well if this happens we are absolutely finished, we have nothing else at all left to tax. This is the only part of the economy that did not collapse.

I suspect that international companies are not going to want to be based here if we are an economic and social basket case. They like stability in social, economic and political terms when investing. We have our best running for the plane and huge uncertainty over the next few years. Our business class is virtually wiped out financially and we have no banking system really. That is not good.

Most of the boxed we ticked we now do not tick. They were not here for cheap wages, if they were they left long ago. People making expensive drugs want high quality QA and the best of staff. They want education that is well funded and happy unstressed people. I would not invest here now, I cannot see why anyone else would. Everything from drinking water and power supply to class sizes, broadband and transport links is going to get worse for years. Nobody is going to make expensive IT components at the end of a potholed road or near an airport with no flights to their base.