David McWilliams: Where is the slowdown experts warned us about?

Year in Review: Forecasters underestimated the success of the Irish economy in 2019

In 2020, if people want to see lower rents and more homes built, they should vote for the parties they believe will make those choices for them. Photograph: Getty Images

In 2020, if people want to see lower rents and more homes built, they should vote for the parties they believe will make those choices for them. Photograph: Getty Images

When examining what is going on in any economy it is essential to have a framework to understand how the economy works and where it sits in the global scheme.

One of the reasons I was so agitated by the credit/housing boom of the 2000-2008 period is that in any framework the economy was bound for meltdown. You could go so far as to say that that economy was set up to fail. Yet all the official economic forecasting institutes missed it, preaching the soft landing mantra.

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