Monday 19 February 2018

Short-term threats exist, but fears of an overheating economy are premature

There are dark clouds on the horizon such as Brexit, Trump and higher interest rates - but another crash isn't something to worry about
'Last week, there was again talk of the potential negative effects of the economy growing too fast. That came about because a new report by the Economic and Social Research Institute (ESRI) said, among many other things, that the economy was at risk of overheating' Stock photo: Depositphotos
'Last week, there was again talk of the potential negative effects of the economy growing too fast. That came about because a new report by the Economic and Social Research Institute (ESRI) said, among many other things, that the economy was at risk of overheating' Stock photo: Depositphotos
Dan O'Brien

Dan O'Brien

Don't fight the last battle. This is a lesson that soldiers the world over are taught. So traumatising is combat, it is said, that it leaves an indelible mark on those who engage in it.

The natural tendency when going into battle again is to believe that events will play out in the same way as in one's previous experience. Military types say that this can be a fatal mistake.

Ireland's property crash was a traumatic event. It has left an indelible mark. It is only natural to fear that it will happen again. When signs appear that trigger memories of the period before 2008, the alarm is quickly raised.

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