We must stand strong to survive our own Mayweather moment

GETTING up at 3.50am to present the early Newstalk radio show means my body clock doesn’t understand bank holiday weekends.

The side benefit a few weeks ago was being up to watch the Floyd Mayweather world title bout against Shane Mosley. Boxing fans claim Mayweather is the best pound for pound fighter ever. In 40 previous contests he has never been defeated. His family acts as his promotion company. He makes no apology for his motivation, financial gain, calling himself, “Money” Mayweather. Pundits predicted the only way he would be defeated was by being floored to the canvas. In round 2, veteran Mosley, 38, connected with a shuddering uppercut to his chin. His whole body shook. His legs turned to jelly. Excited commentators pronounced this had never happened before and expressed alarm at imminent defeat. What happened next? (You’ll have to go to the end of this piece to find out …)

Mayweather’s most perilous moment encapsulates our current national mood. In the 50 years of my lifetime, I have never detected such a deep sense of despair across the country. Previously, individual groups or sectors have gone through tough times. Now, no one is being spared. Taxi drivers, teachers, farmers, school-leavers, bank tellers, publicans and the jobless are enduring quiet misery. Previously well-to-do are in the vice grip of personal and corporate debts. Elderly pensioners have lost their life savings. Assets and incomes have been decimated.

In my daily routine I am fortunate to encounter a wide range and cross section of Irish society. Friends and contacts from the worlds of politics, business and media all relay tales of unending economic woe. Revenues for 2010 continue to be lower on a like for like basis than last year, as opposed to budget variance. This decline covers diverse enterprises such as public transport, advertising, retail and services. Two years of economising on payroll and other costs has not been sufficient to turn around company fortunes.

Many senior business people whom I would have regarded as mentors over the years shake their heads wearily when asked if they’ve detected an uplift or turnaround. Each day, four commercial operations are shutting their doors. This rationalisation and withdrawal of capacity is the only basis of others surviving.

Fate has conspired against us. The past several months have seen unbelievable flood damage, homes evacuated and permanent damage right across the Shannon basin and beyond. This was followed by snow and bitterly cold periods. Footpaths were unpassable. Water shortages were endemic. Just when we thought the summer season and longer day would bring some respite, what next appears? Volcanic ash plumes from Iceland. Unprecedented air traffic restrictions are costing Irish tourism over 17,000 visitors and €20m a week.

Lest we take the view that our troubles are only financial, there is ample evidence of a deeper malaise in our society. Last week’s funeral of the “Don” Eamon Dunne, in Finglas provided newspaper photographs of his alleged four “lieutenants”. Credible crime correspondents have relayed they will now run his former illegal drug and crime empire. Why is there no public outrage about their reputed organised crime while they are still at large, freely operating in the community? Young people outside head shops queue for mind altering products on a 24-hour daily basis. When proprietors are confronted, they ambivalently tell us they are selling bath salts. Our apathetic tolerance seems inexplicable.

The scenes described during the Central Criminal Court trial of David Curran, convicted of the murder of two Polish men in Drimnagh in 2008, are unbelievable. A localised frenzy led to the two men being killed by a screwdriver penetrating the temple of their heads. What type of family circumstances engenders this hatred and violence?

Meanwhile, official Ireland can congratulate itself in the banning and removal of the Hunky Dory advertising and billboard campaign. This had the affront to show attractive models in rugby gear with cleavage (not nudity). This “incitement to rape” was an easy target. In previous troubled times, people have obtained private personal consolation from religion. This pillar of our society is a busted flush. Priests, brothers and other members of religious congregations have provided a constant hooded parade in and out of the courts. The unspeakable violation of children and teenagers has been laid bare. Those who preached morality furtively practiced the most appalling abominable intimidation and physical abuse. The brand of the church has become embedded within the sordid images portrayed by various commissions and reports.

The other bastion of leadership in a democracy should come from our politicians. Our Taoiseach neither leads, entertains, amuses nor enlightens. Cowen has the demeanour of a man who would rather be anywhere else than in his present job. Like the country he has all the symptoms of clinical depression. A majority of the media, fairly or unfairly, have concluded that the prospect of Enda Kenny is even worse. British election night highlighted the quality of their members of parliament from all parties. This is in sharp contrast with our array of glorified county councillors. Will our brightest and best really be interested in joining a profession that are ridiculed as door mats?

After we were told “the worst was over” last December, we find the euro is convulsed with unprecedented problems. Government deficits and national sovereign debts have enveloped our currency to the extent that previous rules of no expulsion/no bailout have had to be completely rewritten. They are making it up as they go along.

The wolf pack of speculative markets shows these euro emperors have no clothes. The end game of this hiatus will be debt defaults resulting in less credit and more costly money. Fiscal correction has to depress demand. Higher interest rates will choke economic development. Our economic vulnerability to international markets has been ruthlessly exposed.

If evidence was required as to the prevailing national sense of fear, it can be observed in our savings ratio. This has risen from 2% to 12% of national income. People expect our current black clouds will turn to future rainy days of even greater financial decline.

We are seeking profound escapism from these travails. The media orgy surrounding the late Gerry Ryan’s untimely passing provided melancholy relief from a diet of more regular bad news. These are the worst of times. Survival is at a premium. This is in itself our greatest source of hope. And so it was with Money Mayweather. He wrapped his elbows so tightly around Mosley that he just clung on for dear life to buy time. He was out cold until the bell chimed. Thereafter, he regained his composure and used his superior ringcraft to completely out box his opponent. He won convincingly on points. The only certainty from our deepest dilemma is that individual creativity, commitment and entrepreneurship will grow our way out of this distress. Our Mayweather moment requires the utmost resilience, so that this too will pass.