In a particularly strange and positive framing of the economic situation today, the Irish Times website reports:
1.18 Million adults have E50 left after bills paid
Note the omission of the word ‘only’ before the number of 50 euro a month. And just in case you weren’t sure of the positive framing, it adds the sub-heading:
Financial position improving for many, credit union study finds.
In fact in the Print edition of the newspaper the subhead is the headline – leaving out the 1.18 million adults and their fistfulls of 50 euro notes. In the print edition we are greeted with the news that where there was 600,000 with nothing left at the end of the month, now there’s only half a million (where’s those emigration figures again?). While average disposable income has increased a whopping nine euros a month from 163 to 172 euro a month!
We are told that the number of people with nothing left to spend after bills are paid are falling drastically and now that we are in the happy position of having an extra tenner a week to spend. Overall the position on disposable income is ‘continuing to stabalise’, this is due we are informed due to citizen consumers cutting back on luxuries such as food. Other luxuries like a single visit to a GP, half a school uniform, smiling at a dentist or two thirds of a school book will also have to be avoided. Finally we are reminded that of course this is all mainly an issue of confidence, indeed the Times is doing its bit on that front. On a brighter note it means that’s another 50 euro begging to go into that pit they call the private banking system via water charges, broadcast charges and sure maybe another pay cut or two, and this news should be the final nail in the coffin for all those strategic defaulters cheating their banks and bondholders out of pocket for frivolous luxuries like light and heat.