Screams in the suburbs
Ireland’s indebted professional classes are far worse off than the bust developers – and in a lot more trouble, writes David McWilliams.
Ireland is about to move into the Repo Man phase of its credit and debt cycle. This phase is not pretty, because when the repossessor comes to get you, things can turn very nasty very quickly.
If you saw the 1984 movie Repo Man with Emilio Estevez, you’ll know what I mean. Now the Repo Man is coming for the professional classes. Houses and assets will be seized, causing a massive dislocation in the higher,...
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