Saturday 21 October 2017

Come crash or conflict, we're pretty well padded against the worst of it

Despite collapsing oil prices, market crashes and the threat of terrorism, our economy should remain slump-free. A woman walks past an ad featuring the currency symbol for the Chinese yuan in Hong Kong, as shares fall in China. Photo: Xaume Olleros/Bloomberg
Despite collapsing oil prices, market crashes and the threat of terrorism, our economy should remain slump-free. A woman walks past an ad featuring the currency symbol for the Chinese yuan in Hong Kong, as shares fall in China. Photo: Xaume Olleros/Bloomberg
Dan O'Brien

Dan O'Brien

The sky is about to fall on our heads. That, according to the growing ranks of gloomsters in the economic forecasting business, is our imminent fate.

As most indicators in the first two weeks of 2016 continue to point to good times ahead for the Irish economy, concerns have been growing since the start of the year that the world economy is heading in the opposite direction, and heading there fast.

Turmoil in many financial markets across the globe is one reason why fears are growing for the real economy of the world.

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