Friday 9 December 2016

Why are we so afraid to speak of the recovery?

It is verboten in Ireland to suggest that things might be getting better, even when the evidence suggests they are

Published 30/08/2015 | 02:30

SHOPPING THE WAY TO RECOVERY: Retail sales had their highest jump in 10 years last month and retail in general is up 10pc on the year
SHOPPING THE WAY TO RECOVERY: Retail sales had their highest jump in 10 years last month and retail in general is up 10pc on the year

Why is it that we dare not speak of a recovery? Part of it is, of course, because we have been burnt quite recently. We have been largely conditioned to believe now that the last boom experienced in Ireland was an illusion, a chimera that we were wrong to ever buy into. And it ended so disastrously, and we paid such a terrible price for it, that we almost fear any signs of success now.

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Just as there was a time where we became very adept at filtering out and ignoring any negative signs of the economy, now we seem to have developed the opposite trait, where we are able to ignore any good news.

In the past week we have seen stunningly good news on the economy. On jobs, which are central to a real recovery, a grass-roots recovery that people feel in their pockets, there were 20,000 more people employed in the second quarter of the year than in the first quarter.

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