What will the next generation think of us? Taking the other side of IMF forecast bets.
The Irish government has released its latest assessment of where the economy is heading. It looks like. a forlorn attempt to dampen expectations ahead of another giveaway budget in a few months time. The last before the general election.The golden goose will someday stop laying its eggs. What will future generations think of us, what we did the largesses generously donated by the multinational tax boom? Will we be 'grateful Norwegians', now rich because they saved their windfall taxes (from oil). Or will we resemble the 'morose British' who blew all their windfall oil taxes on what?Is there much more capacity for extra housebuilding than is conventionally thought?Will house prices ever fall to 'affordable' levels, even with extra supply. Or were houses just 'the wrong price' a generation ago?Chris takes the other side of the IMF forecast bets: we are approaching peak short term growth optimism and the IMF is way too pessimistic about the medium term At least Ireland has a fiscal debate grounded in arithmetic. The UK's fiscal conversation is total hokum.And all the latest economic data Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns. Hosted on Acast. See acast.com/privacy for more information.