The paradox of national thriftiness

I recently attended a talk given by economist David McWilliams and one of the main points he made was that we need to define where exactly we are at, before we can start think about arriving at a solution.

Spurred on by David’s advice, I think it’s worthwhile examining the Irish Central Bank’s quarterly bulletin.

There’s no excitement in these reports, it’s business as usual, or should that be “lack of business as usual”.