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David McWilliams in Carrick-on-Shannon

This post was published 3 years 3 months 6 days ago which may make it a bit inaccurate or irrelevant today. Things change and I cant keep checking old posts for validity. I wont be held responsible for any misunderstanding. Leon - Reverb Studios

Went to a very interesting talk in The Landmark Hotel, Carrick-on-Shannon today by economist David McWilliams in which he “explained” the recession and outlined some possible solutions for getting out of it. Here are some of the main points I remember.

Stop blaming everyone else including government etc and start forgiving and getting on with fixing the problem.
We must all blame ourselves as well for over spending.
Clear out the existing bank owners and execs and start afresh with “Clean” banking.
The Irish must use their “Tribe” or diaspora more effectively instead of breaking links with and ridiculing ex-pats.
The economic future will be knowledge and network based, venture capital will be very important.
People must show initiative to drag ourselves back out of the recession.
The housing market will continue to devalue.
Bank bailouts are not the way forward as banks may use the money to pay off debt instead of loaning it to businesses, house buyers, etc..
Ireland should focus on “Green Tech” and creating multiple “Silicon valleys” here, making us the place to come and setup.
Its time for change and fresh thinking, old ways are dead.

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Posted in General on February 14th, 2009
Tags: david mcwilliams, economist, recession
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