Extremes & Contradictions

I don’t have much time for blogging these days. I’m just about keeping up with the news. That’s what I’m doing right now – reading the Irish Times online.

Something that caught my eye:

On the one hand, the number of rich people in the country is getting richer.  In 2009, an additional 1,800 people in Ireland joined the ranks of the HNWIs (the High Net Worth Individuals). This represents an increase of 10% over the previous year.  In the “ultra-HNWIs” (those having investable assets of $30 million or more) also increased last year, up 18 members to 181.  The report goes on to say that our figures in Ireland drag behind larger increases in these categories than is found for other countries. It seems the recession has passed by some people. Or are these people in some unique position to be able to benefit from a recession. I wonder what industry they work in?

On the other hand, 29% of Irish households could struggle to pay bills or buy food and other important items in the next 12 months.  15% of Irish households couldn’t pay for essentials, 35% of Irish households have difficulties paying healthcare for their families.  It’s not pretty.

The rich get richer and the poor get poorer. The gap widens. Is this typical fallout from a recession?  If so, when does the situation begin to rectify itself.  Economists feel free to jump in with the answers.  Do economists have the answers?  Like all experts they too disagree with each other.

It could be worse.  In the UK, the royal head has spent a whopping £1.2m on entertainment. Then again, she is entertaining 500,000 people annually. How much would you spend on entertaining 500 people, or even 50 people?

It’s now nearly 1am and my insomnia is not going to vanish with such thoughts of extremes and contradictions.  Sometimes, all we need is a comfortable bed, our health and the knowledge that we can get by on what we modest income we have.



Posted on June 22, 2010, in Uncategorized and tagged , , , . Bookmark the permalink. Leave a comment.

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