Pulling on a Bandage called The Recession

In my opinion the second half of the recession kicked off today. After a brief rally in confidence on the day the banks get bailed out by the Government (they need €22 billion to cover losses on property!), Quinn Direct and Quinn Health Care were appointed a administrator on the back of an application from the Financial regulator. Basically public confidence went down as fast as the bank shares did today.

With prices in property still being held up by the hope that they could ride out the down turn and banks increasing their charges to normal people on stupid things like current account fee’s to circumvent the income from not issuing enough new loans, things are looking grim. Think of it like after pulling on a bandage called the recession since 2008, today they finally just ripped the last bit of bandage in one fast pull and although there will be more stinging in the coming weeks and months. It’ll soon be done with and things can finally return to normality.

So whats does this mean to Joe Public?

Well a few people have been heard that they wouldn’t be receiving their wages on time from businesses who are struggling to meet payroll, other SME owners are telling horrendous stories about selling family treasures to meet payroll things look fairly bleak for some businesses of yesteryear success. Business like all living creatures die naturally or get eaten, if they didn’t the appreciation of living wouldn’t be matter so much and people would expect rather than enjoy or earn success.

But there was always going to be a rally before the final drop, this is fairly standard graphing on stock market trends. People see the light and run for it, others pull back with rational and take some of the capital off the table and catch out the short term gamble investors.

Its unfortunate but things are going to get a lot worse in the coming 6 months, many businesses will close, more jobs will be lost, I hate to say it but increases of suicides from people who’s personal measurement of worth was measured in Euros and cents, but not sense. While all this is happening however the buds from the flowers that never had the opportunity to take control of their destiny and launch a business will begin to emerge and with it once again an age of adding value in exchange for reasonable compensation.

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