nice one, that's what I have been thinking about last week....we will probably see a bit smaller gains in IRE than BIR... :-(
Psychological analysis of Ghart suggests that he has limiting beliefs about his own intellectual capacity. Not a comment goes buy where he does not refer to his intelligence. What it really shows is his lack of confidence in himself.
Finance Minister Michael Noonan has said the economy may grow by as much as 4.5% this year.
The minister made his comments after the CSO estimated that the economy grew by 1.5% in the second quarter of this year - the second successive quarter of strong growth.
Ireland is now recording the strongest economic growth in the European Union.
Mr Noonan said instant estimates by his officials suggested a much stronger growth level than previously estimated by the department.
He said the key budget target of getting the deficit below 3% of GDP next year could now be hit without further spending cuts or tax rises.
Mr Noonan said he was now looking at a fiscally neutral Budget next month, with changes intended to boost employment levels and support continued further growth in the economy.
But he said it would not be a giveaway Budget, as the country still faced an enormous debt burden.
Last week, the minister revised the growth estimate up to 3%. The last official estimate was published in April and was for growth of 2.4%.
Mr Noonan also said the very strong growth meant that the budget deficit would come in well below 4% of GDP, and he thought it could be as low as 3.5%.
Given the outlook for economic growth averaging 3% a year for the next five years, all budget targets can be met, he added.
Commenting on the CSO figures, Tánaiste Joan Burton described them as "quite striking".
Speaking in the Dáil today, the Tánaiste said the great thing about the figures is that they show the economy is "seriously in recovery".
She said with GDP growth of 5.8% in the first half of the year and GNP at 9% annually "it really means we have left the worst difficulties of the collapse behind and it is not a credit-fuelled bubble."
Ms Burton also responded to calls for the Christmas Bonus for those on social welfare to be restored.
She said as conditions improve it would be nice to see certain areas addressed but that she could make any commitments.
There was a little bit of extra leeway, Ms Burton said, but “we can't lose the run of our ourselves”.
She said no decisions had been made, and that all of the areas of expenditure would be looked at.
Today's preliminary Quarterly National Accounts data from the Central Statistics shows GDP growth of 1.5% and GNP growth of 0.6%.
and in January 2002 was 0.87, ie the euro was worth less than the dollar.
If the euro manages to drop to 1.20, that would really help the export sectors and boost employment and create some lovely inflation. Crazy world !
good luck :)
I am assuming that you are unaware of the fact that HALF of Bank of Ireland's business is done in the UK.
(UK post office serves as their bank branches)
Don't count your blessings too soon.... lol
G you and I have been posting here about the effect of the Euro on the US Dollar based investor in this ADR. I agree 100% with your post but as you will find out, most likely already know, the mental midgets will counter your finding with zero facts to back their position. Math is math and there is no countering the numbers by an intelligent person. I wonder if they realize the Euro was priced at 1.60 in 2008?
Assume the share ie bkir/bir gets to 0.36 euros by the end of the year from the current 0.32 (about 13% higher), and that the dollar rises to $1.20 per euro.
So what does that do to the tracker IRE price ?
0.36 * 40 * 1.20 = $ 17.28 or about 4% higher than the last closing price of $16.59.
So for a dollar investor, something to think about.
good luck :)
And today a strong buy rating was issued by several Irish brokerages.
The bank is now massively undervalued. True value on the ADR is $30.45
So, i don't want to ignore Russia/Ukraine or Scottish independence or any other macro view. Seems to me heavy lifting in Ireland has been done. The irish public has taken it on the chin for 6 yrs. Austerity & policy
friendly to international investment has won! Dublin Real Estae is through the roof. Newly formed REIT'S
like Hibernia are very attractive. How many Bio-tech & Hi Tech Co's now call Ireland home! It's huge! Rent, mortgages, Retail Plaza's. Old unattractive property that were seen as, "Barrio" property with no value will
or already have rocketed as valuable inner city property. So, unless this bank did to much damage with it's foreclosure process! damaging it's abiliity to make new loans, what roadblocks are there?
Thanks for the thumbs up my friends. I can see people like optimism, reality and hope unlike comments from our manic depressive Ghart. Lets don't ate some cash so we can get him some Prozac.
What do you know Ghart the apocalypse you are praying for never happened. People like you make most people vomit. Talking down the economy bashing the Dow. That type of talk costs people money and jobs. You call yourself American? Very unpatriotic!