I thought I'd step back from commentating and reflect a little more on where things are going.
The result: a sort of "What's Hot, What's Not" review for the next 2-3 weeks/months/years (he said optimistically ...)
Things we'll be hearing much more often:
'This is just like Nostradamus predicted ...'
'Cash only, bank drafts will be refused ...'
'Here's €5 now, I'll pay the rest later ...'
'We're saying prayers for an end to the recession soon, dear Lord ...'
'Special offer: buy one apartment, get one free ...'
'Closing down sale: everything must go, emigrating to Australia ...'
And the things we'll be hearing much less often:
'The biggest issue facing Ireland right now is climate change ...'
'Sorry, we're full up ...'
'Keep your job, I'm off to find myself ...'
'That's the price, take it or leave it ...'
'There has been a lot of interest in this property recently ...'
'Profits are at an all time high ...'
Meanwhile for a somewhat less flippant assessment of where things are check out this Merrill Lynch presentation (they used to be a Wall Street bank) via Stephen Kinsella. I love the line on slide 74: 'Fear and Greed are stronger than long term resolve'. Explains a lot that: though not nearly as much as slide 39, oh boy.