What is Craggy Island?
1.
A fictional island off the west coast of Ireland. It is where the Channel 4 sitcom Father Ted is mainly set. They say if you're heading away from the island, you're heading in the right direction.
"Father Ted, Father Dougal and Father Jack live on Craggy Island."
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1.
A phenomenonin economics in which too much loose cash finds its way into an area of the market, e.g., stocks, housing, dot-com, etc., re..