William H.A. Willbond MSM, CD
Coffin Ship Irish people left many starving folks behind
When England’s Trevellian were cruel and unkind
Departing the coasts off Paddy’s green shore
Because of the hunger – returning no more!
To the West of Quebec these Irish did go
The winter ground was coved with blankets of snow
In the Ottawa Valley far down below
the land was rich and flat and potatoes would grow!
They settled in Dunrobin and on the Harbour at Fitzroy
They worked hard and prospered – they sang songs of joy
Back in auld Ireland, the free state was declared
The Irish were freed from Tierney and Despair
The computer revolution and the Irish smart young turks
Brought wealth into Ireland and with it more work
Real estate values, these have continued to rise,
And the Irish saved money because they are wise
The only people whose livelihood is richer than these
Are those wily Asian businessmen, the Rich Japanese
The Irish no longer immigrate, to round the world roam
Because those greener pastures, are found now at home!
©Copyright August 5, 2007 by William H.A. Willbond, MSM, CD
Author’s Note: On the Occasion of the visit of my Cousins Jim and Irene Cody, who immigrated to Australia from my Dad’s home town of Lismore, Co Waterford, Southern Ireland. Also dedicated to the McCaffreys, the Dolan’s, The O’Rourkes, the Smiths, the Kavanaughs, the Hogans, the McQuillans, the Cassidys the Brennans, the Gannons, the Quinns, the Coyles, the O’Hallorans, and any other McCaffrey side cousins I might have missed
Ireland Heads List of Richest Countries
The Irish are the wealthiest people in Europe and the second richest in the world, thanks to exceptional gains in property values and aggressive savings rates, the Bank of Ireland reported yesterday.
The bank’s annual Wealth of the Nation report estimated that Ireland has at least 33,000 millionaires in the country of 4.2 million people, up 10 per cent from 2005. It said the average individual net wealth of Irish people rose 19 per cent to €196,000 in 2006.
In terms of wealth per capita, Ireland remained ahead of the UK, the US, Italy, France, Germany and Canada but lagged behind Japan.
The report said the past 13 years of rapid economic growth had been of greatest benefit to Ireland’s wealthiest people, with the top 1 per cent of people holding 20 per cent of the nation’s wealth, and the top 5 per cent about 40 per cent.
The report’s author, Pat O’Sullivan, senior economist at the bank’s Private Banking unit, said a 20 per cent growth in the value of residential property underpinned last year’s surge.
While household debt rose 20 per cent to €161 billion, this was more than offset by 1 15 per cent gain in cash savings, a 20 per cent gain in privately held stocks, and an 11 percent gain in the value of pensions.
Mr O’Sullivan said the Irish were saving about 14 per cent of their disposable income, the highest rate in Europe with Germans coming second on 10 percent. By comparison, the British saved just 5 percent and the Americans just 1 percent.
But Mr O’Sullivan said the dominating factor in calculating Ireland’s wealth was the rapidly escalating value of family homes and, in many cases, investors’ other rented-out properties.
While the Irish housing market has dipped this year following more than a decade of rapid gains, the value of property accounted for 72 per cent of average household wealth last year.
The report forecast that this percentage would fall in coming years as Irish people diversify their investments into stocks and bonds.
House prices have fallen 2.1 per cent this year, a downward trend unheard of in Ireland since the 1980s.
This month, John Hurley, the governor of the Central Bank of Ireland, described the recent falls as “more consistent with stability” than the accelerating prices of a year ago.
Most agree Ireland’s building boom is over, with projections that house completions will fall by 25 per cent next year.
About 88,000 new homes were built in the Republic last year, about half the number built in the UK for a population 12 times larger.
But Mr O’Sullivan forecast a soft landing for the Irish property market, with low single-digit rises continuing towards 2010.
AP, The Times
- ISLE OF GREEN
- Wealth per head increased to €196,000 last year (€168,000 in 2005)
- Ireland’s net wealth grew by 19 per cent to €805 billion
- Forecast to increase to €928 billion in 2010 and €1.2 trillion in 2015
- Ireland now has 33,000 millionaires — an increase of 10 per cent
- Retains its position as second-wealthiest nation, behind Japan and ahead of Britain, US, Italy, France, Germany and Canada