41 responses to “Is The Ship Sinking Captain Thompson?”

1. 

   FACTS

   February 3, 2010 at 11:02 pm

   
   

   The Barbados economy is, like many others (apart from China) experiencing its share of the Global recession.

   However, this submission is openly and amusingly one-sided.

   One doesn’t have to read too far into the above contribution to sense that it reeks of political propaganda.

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2. 

   David

   February 3, 2010 at 11:16 pm

   
   

   @FACTS

   What about this blog that is one sides?

   one, Moody has threatened to downgrade the US?
   two, the DLP is an inexperience government battling in an economic recessionary climate with key economic indicators all bending upwards.
   three, going public on wage freeze talk does not run counter to the protocol which the social partnership embodies?

   tell please!

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3. 

   Crusoe

   February 4, 2010 at 4:55 am

   
   

   ‘the Barbados economy headed for the rocks’.

   What is new about this? Has this not been evident for a few years now?

   What were people expecting, that there would be a rain dance and money would flow?

   Really, it is mind-boggling that neither the American media (though they have their own agenda) and public, now some in Barbados, did not see just how bad things would be.

   Certainly and sadly, things are about to get a whole lot worse i.e. our lag is about to hit.

   A few things.

   Instead of punishing Barbadians with a raise freeze, ostensibly to reduce consumption while preventing inflation and keeping overseas debt down, why has VAT not been raised to 17.5%, which would achieve a similar effect, but put revenue into Government coffers?

   Secondly, why has Government not implemented a Capital gains tax on real estate and shares, so which is a worldwide common tax, such that those income earners may be taxed, like the rest of the middle income group who are carrying the main tax burden?

   This again, will give the Government much needed funds and be fair and equitable (as it taxes income, as all other income is taxed), one of the cornerstones of a tax system.

   Thirdly, with difficult times ahead, why has Government, if it for the people, not implemented urgent measures to protect those homeowners who come under strife, by legislating the protection of ownership of houses under mortgages, such that a bank cannot foreclose without specific efforts to assist the homeowner to keep their house in times of trouble i.e. refinancinf at specific minimum rates, legislated payment holidays etc. This is easy to implement, all it needs is a tribunal or Court order to asses if the individual really cannot pay and if so, then the measures come into play. This will avaoid anyone deliberately not paying and abusing the special measures.

   This homeowner protection will also prevent a system collapse, in the event of widespread inability to pay mortgages, for a time.

   Why has the Government not legislated protection for those who are unable to pay debts, such that a person who is unable to pay debts, will have some form of debt rescheduling/ write-off and not go to prison for debts.

   Is is morally abhorrent, not to mention completely without sense, that a person could currently be sent to prison for inability to pay debts.

   Re-schedule or write-off such debts, that is what the the modern western society does, the same economy that we follow in all other matters. Why not this?

   If the Government is really for the people and not the few, such measures need to be implemented urgently.

   Finally, Government needs to asses what further eases can be given to the tourism sector, indeed other sectors, to assist in keeping jobs alive.

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4. 

   freewilly

   February 4, 2010 at 6:08 am

   
   

   Thompson rules on the grounds that he knows democracy does not work in favour of the masses..only the ruling elite…for instance here in Barbados we have the greedy Williams brothers(and others like them) who were out to own the whole of Barbados,black politicians that sell their people for plenty coppers and outside influences that want to steer our ship right into uncertain waters…why shouldn’t we be happy????

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5. 

   David

   February 4, 2010 at 7:08 am

   
   

   @Crusoe

   Some useful suggestions.

   The capital gains tax you have been advocating if implemented would erode and or dismantle the system of covert corruption which the party faithful from BOTH parties currently enjoy.

   Prime Minister Thompson promised change, we remain hopeful.

   The outgoing Chief Justice when Attorney General promised a multiplicity of reforms; penal reform at the top of the list. He subsequently was afforded the opportunity to continue his work as CCJ, based on the tributes pouring in he seems to have achieved what he promised. It begs the question how do we measure success. We hear our journalists who should know better giving people a passing grade, giving the BL&P a passing grade, what scorecard are they using. Yet we hear the same people lamenting the need to grow productivity, then we need to measure right?

   Frankly BU is confused.

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6. 

   Anonymous

   February 4, 2010 at 7:36 am

   
   

   The question should be: Captain, can you re-float the ship (or do we need a new ship)?

   I think the captain’s answer may be: I gwine try to be a submariner!

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7. 

   Terence M. Blackett

   February 4, 2010 at 8:53 am

   
   

   @DAVID

   As was discussed months ago – “is this the harbinger of possible devaluation of the Barbados dollar?”

   And if not, then what is the answer to Barbados’ economic woes?

   Again, as I have been discussing here in Britain – the answer to our plight is to adopt the Singapore model of the late 80’s but these “knuckleheads” are NOT* listening because as “FREEWILLY” suggests – there are controlling interests in my country who want to rule at the behest of the ‘elite’ class…

   This stranglehold must be toppled and dismantled by any means necessary…

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8. Global Voices Online » Bermuda, Barbados: Indebted

   February 4, 2010 at 9:27 am

   
   

   […] and its size, institute rigorous budgets and controls, and get a grip on its finances”; Barbados Underground, meanwhile, is afraid that “the Barbados economy appears to be headed for the rocks.” […]

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9. Bermuda, Barbados: Indebted

   February 4, 2010 at 9:32 am

   
   

   […] and its size, institute rigorous budgets and controls, and get a grip on its finances”; Barbados Underground, meanwhile, is afraid that “the Barbados economy appears to be headed for the […]

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10. 

    Alex Fergusson

    February 4, 2010 at 10:05 am

    
    

    STATEMENT FROM
    THE HON. MIA AMOR MOTTLEY Q.C., M.P.
    THE LEADER OF THE OPPOSITION AND
    POLITICAL LEADER, BARBADOS LABOUR PARTY
    RE: WAGE FREEZE IN BARBADOS

    What needs freezing is David Eswick’s talk.

    The public servants of Barbados have already effectively taken a cut in salary over the last 2 years where their wage increases were wiped out by rising inflation.

    To have a wage freeze on top of this is to take more money out of their pockets especially given the known increases in the prices for water, electricity, telephone, energy products and other rates and fees, like road taxes.

    And let us not forget that it was the Prime Minister who has led the charge in this arena of price hikes.

    The public must not be fooled that by failing to agree to a wage freeze that there will inevitably be layoffs.

    The Government has options even now without putting in peril their fiscal situation.

    No one expects large increases but they must be able to live. It is a question of options.

    Yet again here is a Government that is prepared to ask the public servants, just like in 1991, to pay the price for their incompetence over the last two years.

    We will address this matter on Sunday night in St Patricks and lay bare the facts.

    On the issue of divestment, this Government is all over the place except leading.

    One minute they want to buy BNB and Sam Lords. Now they want to sell Government assets.

    There is nothing known to us today that was not known to the Government last year when they were making the opposite sounds.

    This is truly symptomatic of a Government in trouble.

    3rd February, 2010

    +++++++++++++++++

    The above was released last yesterday by the Leader of the Opposition of Barbados – The. Hon. Mia Amor Mottley, Q.C., M.P.,.

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11. 

    Alex Fergusson

    February 4, 2010 at 10:14 am

    
    

    “On the weekend Minister David Estwick announced at a constituency meeting his concern at the ailing economy and indicated he would recommend a wage freeze to Prime Minister David Thompson.

    Prime Minister David Thompson has subsequently been reported in the media as supporting Minister Estwick’s call.”

    +++++++++++++++++

    The above – though an accurate account of what happened – shows why the incompetent DLP is also dishonest and why Barbadians still cannot and do not trust the inconpetent DLP.

    Now David, (Moderator)

    Do you remembers when Linsay Holder, Senator Arthur Holder, Craigwell from the UWI, and Darcy Boyce went on Brass tacks Sunday?

    You should, the discussion was about the IMF Article 1V Consultation recommendations. Senator Arthur Holder correctly said that all of this will happen.

    Why is the incompetent DLP now giving the impression that the IMF policies are DLP policies?

    Could it be because Thompson said then that: we know what they want us to do and when and they know what we are prepared to do and when?

    In my next post I will tell you why (despite the fancy foot dancing by Walter Maloney) this matter is a: “DONE DEAL.”

    The NUPW or no union will ever be able to save jobs.

    Here is a tip, even with Derek Alleyne – the NUPW’s Deputy General Secretary – now the Director at the UDC – the NUPW is not able to save jobs at the UDC.

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12. 

    Hopi

    February 4, 2010 at 11:18 am

    
    

    Most ships are sinking because of DESIGN…they were built to sink. When you lock every economy into that of the rapers and pillagers, you must expect to be raped and pillaged.

    You set up an education system where everyone is programmed to think alike…All these so called highly qualified ‘brilliant’ economists and none of em’ have the balls or the foresight to advise the government to get off this capitalists [looter-takes-it-all] grid. Economists deals with figures [which are usu. manipulated] they don’t deal with fact or hard core reality. Will any of them ever do a comprehensive analysis of the factual CAUSE of this problem? I doubt it. And this cause won’t be found in figures that they play around with, it will be found in policy and idealism. Simple!

    Buck this eurocentric system and blaze your own trail. Form bonds, ties, pacts, treaties with those who have the real RESOURCES that you will need for development and in exchange you can offer them good, honest human RESOURCES.

    Turn away from the parasitic World Bank and IMF. Screw the UN.

    Change your education system from one of a servitude-sector to one of idea and solution generating sector.

    What’s going on in the world today is controlled demolition. Its part of a global plan and none of those political pimps in Barbados will/can change it…simply because they don’t answer to the populace, they answer to a ‘higher’ authority.

    If you are truly about building a productive, sustainable economy which will stand the test of time, Barbados has to get off this damn ebb and flow grid, stop watching and waiting on the ‘white’ world.

    They are the problem NOT the solution.

    If the global economy were to recover today, just watch and see how all these ‘leaders’ would jump right back on the same bandwagon and we’ll be back at sq 1 until another man-made crisis erupts. And yet again they would be looking for their arses…which by now should be on fire!

    @David…….”To accentuate the problem is the fact Barbados has a new government which has to acclimatize to the workings of government operating in a complex global environment.”

    How long has the present government been in power and are they all neophytes to this game called politics? Betwixt that lot, can’t you find any with a modicum of wisdom, knowledge or understanding coupled with intestinal fortitude? David you gotta stop making excuses for Thompson and that whole bunch. They were given the realms by the people, because the people ‘believed’ that they were qualified for the task at hand. So their time in office is moot. They either get the job done or go home.

    Financial turmoil, fake terrorism, man-made disasters, war…ALL are a plan of a sinsiter plan of deception.

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13. 

    The People’s Democratic Congress

    February 4, 2010 at 11:58 am

    
    

    “What is evident, the Barbados economy appears to be headed for the rocks.”

    “Captain Thompson is the ship sinking?”

    Two quotes taken from the above BU blog.

    Notwithstanding these two cliche-tinged excerpts suggesting two wholly different imageries: in the first case, that the ship ( the economy ) is apparently heading for the rocks, and in the second case, that the ship (the economy ) may well be sinking in the waters of the sea – two muchly intra-conflicting imageries when placed in the one context of the understanding of the mind of the careful reader, and another two greatly inter- conflicting scenarios as DRAWN FROM OUT OF the entire blog – with the writer NOT SURE that the ship’s captain is to be blamed for the possible oncoming crash/the ship’s possible sinking, or BUT DEFINITELY sure that the turbulent waters are to be blamed for the ship’s fate, there are still at least a few common themes that the writer is certain about: that there is a ship ( the economy), that this ship is out of control, and that the ship is obviously in dangerous waters ( reading the tenor of the entire blog itself).

    But some more historical and contemporary analysis is needed to show that, yes, this ship ( MV Barbados) did have an old reckless incompetent captain ( who WAS really suited NOT suited for captain BUT for a deputy ) at the helm of the ship ( not properly controlling the ship though ) for 14 years from 1994 to 2008, and who and his half manageable/half disciplined self and others of the crew caused or allowed tremendous damage to be done to the ship’s bow, hull, stern, and almost every thing else, by deliberately imprudently taking it, say, into many violent storms ( greater debt, fiscal deficits, massive local and foreign borrowings, chronic imbalances in trade and payments) and, say, by carelessly foolishly overloading it with too many passengers ( further unnecessary and reckless swelling of the public sector ranks – many square pegs in round holes – serious inefficiency) and some of whom along with some of the same crew caused many leaks and holes in many parts of the vessel ( thus a rain/rein of corruption at the UDC, GEMS, Hardwood Housing Factory Inc, etc), he rather than sensibly taking it into safe harbour esp when the seas and atmospheres became relatively placid and navigable ( even with little growth in the international economy ) which ironically were these ways when he took it over, and for it to be repaired and refitted ( rationalization and streamlining of the structure and size of government, with the government really playing essentially an enabling, regulatory, facilitative, administrative security role etc,), which incidentially was done so by his immediate predecessor, who himself was NOT so competent a captain, and who too had to seek the help of some local and foreign crews of some other vessels after MV Barbados had run aground and had to be towed back into the harbour in 1991-1992 for repairs (DLP/IMF structural and stabilization program), and that at that juncture for many of the passengers of MV Barbados and the crews of different foreign vessels to be altogether seen seriously helping in those repair efforts at the time ( the Social Partners assistance in eventually accepting certain programs, the fundamental restructuring and repositioning of the productive sectors as the major engines of growth in the economy, based on many innovative ideas and solutions (partial), etc., he ( brilliant captain OWING) instead took MV Barbados further out into the deep blue sea and with little fuel, food and money and material for the crew and passengers to utilize for themselves, and with little concrete plans on how to return to port safely.

    But with things getting unbearably worse for so many of the passengers, with so many false messages and information being fed to the passengers by the crew, and with fights and scuffles constantly breaking out among them and the crew over pay, material, work and cabin conditions along the increasingly treacherous high seas ( say, outright lies that World Cup Cricket would be a resounding success, that tourism would be so bright under the BLP – particularly with OWING more than ever, that a Hospital Board would make management of the hospital better, and, say, wranglings and impasses between government, some businesses within the private sector and the unions and government and the private sectors over many national and subnational economic industrial issues including worsening and deteriorating pay and work and living conditions throughout the country in the mid 2000s ), but with the captain at one stage taking out his sight gauges and meters and radar and seeing the signals of another violently raging gathering storm ahead ( this present international recession – the worst international recession since the 1930s, precipitated by record global oil and commodity prices, the sub-prime mortgage, housing and credit crises which first severely affected the USA and then mushroomed to all other major industrialized countries and other countries of the world ) but of whose future baleful effects on the ship, its passengers and its contents were only being seen by a few of the crew and passengers, decided to show how anxious he was about the future interests of the MV Barbados saying some strange things – defending his utterances that all kinds of other foreign crews were welcome on board at any price, that some of the passengers were akin to a ship of complainers, and that he would NOT like to see some other crews take over the reins of the vessel.

    But with many of the passengers, esp those who were originally registered with the vessel, getting increasingly restless and fed up with OWING’s no man’s land journey and his stewardship of the ship, he decided to have a contest on board on January 15, 2008, involving his faction and other factions, to see who the majority of passengers really would want to take over the wheels of MV Barbados.

    And so the results of that contest were that the majority of passengers went for a different captain – though not a better one, DAVY, to simply lead the ship of state, based on his messages, et al, of patching some of the leaks and holes on the vessels ( dealing with corruption at the UDC, 3S, Hardwood Housing Factory Inc.) promises to put off some alien passengers at the next port of call (his expelling so-called illegal immigrants after an amnesty was over ), and his promises of doing a few repairs at sea to the vessel ( promises to make more money available to them by reducing the cost of living and doing business through out the country, exercising fiscal prudence, etc. whatever that is), rather than going for him based on messages that included a firm contingency plan that he would in fact quickly turn around the old beat up ill-maintained vessel from its entry into the storm, and, but, on the basis of a new tracking direction and fresh coordinates, head out of the way of the storm as much as possible.

    This, DAVY, starkly failed to do.

    For, as the storm continued to gather and as the waters and rain became very raging and intense, and as the thunder and lighting PELT down at that time, causing the vessel to rock and rock and shake ( foreign direct investment dramatically falls, remittances dramatically fall, exports fall ) and as the yet green captain foolishly believed that this old philosophy of putting more passengers and cargo to one side of the ship as it rocked and rocked and rocked to a point where it almost capsized, and that such and other techniques would work to stabilize MV Barbados during the worst of this raging storm, which seems to some of the passengers on board that it would NOT be dying out so soon, while he waited too on the storm to end, it would have been clearly being seen by many of the passengers that such techniques would later be proving to be ineffective and disastrous and would beyond a shadow of a doubt be making things worse for the ship, esp at a time when there was a earth of material and equipment on board.

    But, at that stage what would have been important to realize is that there was little meaningful communication between the crew and the passengers on where the ship would have been really and where it would have been heading – far from Barbados though.

    There were no other ships in sight even to get help from except one or two ( MV Trinidad and Tobago – financial lending to Barbados – the IMF – draw down of its special drawing rights ). Most that were passing through this storm were damaged by it too. However, most of the passengers did know that they were suffering terribly from the effects of the storm and moreso from the inept policies of the captain and his crew.

    So, in truth and in fact, Mr. Thompson and this DLP Government grossly recklessly would have went and imposed in 2008 and allowed to remain in 2009 just over $ 150 millions dollars in planned TAXATION INCREASES and furthermore would have inflicted draconian fuel and water rates increases on the backs of the masses and middle classes, and would have at the same time been borrowing tremendously from local and foreign sources to help finance the deficit and to top up on the foreign reserves, government expenditure by 14.1% and in 2009 by 3.4% in 2009 – on free bus fares to school children, useless Constituency Councils, big entertainment fetes and the like. Squandermania, too, if you please.

    And so, at the present moment, as unemploment rises to about 13 %, the fiscal deficit according to Dr. David Estwick balloons to $ 900 Million, or about 11 % of GDP ( our calculation ), and the Government debt according to the same Dr. Estwick has reached 120%,), it is must be patently clear to the PDC and many others that the ship fo state is in serious trouble itself. IT HAS BROKEN DOWN SOME DISTANCE AWAY FROM LAND AND, QUITE EXPECTEDLY, SOME TIME AFTER THE WORST OF THE STORM HAS PASSED. So, it is really clear to us that the economy is NOT heading for the rocks nor it is sinking. It (THE ECONOMY) has already broken down and has to be restructured and redeveloped. Not even successsfully restarting it ( the vessel) is going to work at this stage given that it has very little on which to run and the distance away from port.

    Finally, even as this international storm subsides, it shows that the ship of state was never built to withstand the strongest winds and rains of storms – only minor storms, and neither was it built to be overloaded with passengers, cargo etc – much to the unsatisfactory desires of captains.

    Right now the ship must be again towed back into safe harbour to be repaired and retrofitted. That is what is needed right now. But what is also needed right now is for there to be an entire changing of the DLP/BLP crews during this process of retrofitting in order for the ship to successfully go through this process. Any short of this means failure of the entire restructuring remodelling rebuilding process.

    For, it is clear that the former captain and his crew must be greatly blamed and held responsible for NOT taking the ship into harbour and properly repairing and maintaining it when it was needed – knowing full well that the ship went through a minor storm in 2001.

    And the present captain and his DLP crew must be blamed and held responsible for taking the ship right into the storm at a time when the ship was badly in need of serious repairs and maintenance to its equipment and its body in its own harbour and the re-orienting of attitudes and programs of the crew and passengers, altogether without which it could have broken down at anytime far out into the ocean or close to the bay or just a few meters away from the harbour.

    So, Down with the damned DLP and the blasted BLP!!!!!

    PDC

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14. 

    John Da Silva

    February 4, 2010 at 1:01 pm

    
    

    Politics is killing this country. Rather than focusing on running the country and doing what’s best to improve the lives of all Barbadians, politicians spend far too much time attacking each other and trying to gain political mileage in preparation for the next general election.

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15. 

    Enuff

    February 4, 2010 at 1:44 pm

    
    

    The apparent state of disbelief of some here is in of itself utterly astounding. What did you expect?

    It was obvious from the policies outlined in the DLP’s manifesto that they were simply not ready even if it was felt that it was time for the BLP to go. The electorate faced with two scenarios chose the latter and it is shaping up to have been the wrong decision.

    Winning an election and governing are not the same.

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16. 

    Alex Fergusson

    February 4, 2010 at 2:32 pm

    
    

    BARBADOS UNDERGROUND allowed Looking Glass to put nonsense on ITS blog – THOUGH recklessly telling lies about the Barbados national debt.

    Had anyone even bothered to check page 37 and 42 of our wait-and-see Prime Minister’s 2009 Budget, they would have realised the extent of Looking Glass’ folly – as it relates to the national debt.

    It is certainly not what Looking Glass of the incompetent DLP said it is.

    Even Thompson said that the debt at 2008-2009 was $6, 198.2 billion.

    Here is another way to look at it Looking Glass:

    Debt/GDP ratio – 2008-2009 82.2% ($6, 198.2 billion) The Central Bank now says it is 110%, but it is more like 120%.

    Estwick says the deficit is 8.4%, the DLP’s norm. The highest it ever went under the BLP was 5.4%.

    But since the incompetent DLP took over it went from 3.7% 2007-2008, 5.1% 2008-2009. Now 8.4%. (The bad norm)

    As regards the Debt/GDP ration, it went from 77% under the BLP to 120% and climbing under DLP rule.

    In short, everything is trending in the wrong direction under the rule of this incompetent DLP – what should be down is up and what should be up is down.

    In 14 years the BLP increase the national debt by $2.8 billion with a lot to show.

    In 2 years, the incompetent DLP has increased it by $1.7 billion but with nothing to show.

    The incompetent DLP is now borrowing money to finance consumption. It is like spending all of your weekly pay to buy ice.

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17. 

    X-man

    February 4, 2010 at 4:53 pm

    
    

    @Hopi

    Buck this eurocentric system and blaze your own trail.
    Beautiful rhetoric!

    Time to wake up Afro-Bajan. Shake off those chains and move on up! Brother Hopi implored you to take ownership of your mind, soul, spirit and your country.

    His message is positive. Just what is it, that’s holding you back?

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18. 

    B4 DAWN

    February 4, 2010 at 7:36 pm

    
    

    ——SOS , SOS-
    —THOMPSON is the wrong captain at the wrong time on the wrong ship and he is lost and cant find his way and probably wont do so.
    —–SOS
    —–SOS

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19. 

    David

    February 4, 2010 at 7:43 pm

    
    

    It has been said all along, we need some leadership to bear but the realization is sinking in that Thompson wants to nurse the current economic model which is unsustainable. The PDC was a long read but hit the nail head squarely.

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20. 

    Crusoe

    February 4, 2010 at 7:53 pm

    
    

    Just one clarification to my comment.

    For those balking at capital gains tax, note that there should be and indeed usually is, exemption for one’s primary residence.

    There will thus be no capital gains tax on one’s primary residence when sold, to buy a new primary residence, or when one bequeaths same to one’s children.

    In addition, exemptions can be in place for those who acquire a piece of real estate for their child, say one per child.

    It is when one has multiple real estate holdings, or is in the practice of ‘flipping’ real estate, that capital gains will become relevant.

    That should allay some fears.

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21. 

    Adrian Hinds

    February 4, 2010 at 8:50 pm

    
    

    No fan of politicians. Obama is facing one terms. Yes the current economics you did not caused, but no Jobs means no one is safe. Not even John McCain.

    David Thompson Barbados dislike of Mia Mottley will not save you or your DLP. No Jobs for Bajans means that you also will not be safe.

    McCain Feeling Primary Heat From His Right Flank
    http://online.wsj.com/article/SB10001424052748704343104575033181531964738.html?mod=WSJ_hp_editorsPicks

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22. 

    Terence M. Blackett

    February 4, 2010 at 8:52 pm

    
    

    The news hot off the press in the EUROZONE is that Greece is in trouble…

    The tsunami could very well affect Portugal, Germany, Spain & France with possible fall-out effects in the UK…

    The prediction is that if something is not done quickly – we could be witnessing by the summer another financial meltdown on the scale we saw in 2007-2008…

    Here is what commentator had to say about the potential scenario:

    “The forces at work inside European Monetary Union are like tectonic plates; slow but very powerful. 10 years of inappropriate Eurozone interest rate have opened up a wide competitiveness gap between countries that drove their costs down (Germany, Netherlands, etc.) and those that borrowed and spent and inflated (Greece, Ireland, etc.). There won’t be any quick fix to a problem that has been 10 years in the making and it certainly won’t be as simple as a speech from a politician. In the long-term there are only four ways out; (i) Greece not only matches Teutonic rigour over the next decade, but outdoes Germany with a decade of Irish-style deflation to make up for the past decade of over-borrowing, (ii) Germany abandons anti-inflation discipline and the entire Eurozone devalues to restore competitiveness to Greek, Spanish, Irish workers with the long-term inflationary consequence being that German workers loses out to China in the global market for its manufactured goods, (iii) Greece defaults and Germany and France bail it out, (iv) Greece leaves the Euro, devalues and lowers interest rates to restore its own growth without impacting the remainder of the Eurozone…”

    “What we are witnessing at the moment is only minor tremors, but the tectonic plates of European monetary union continue to grind away, building up pressure that cannot be relieved inside the Eurozone’s one-size-fits-all interest and exchange rate regime. The UK should be glad it can watch the pyrotechnics from a distance rather than have its economy crushed by these forces as it would have been had we been foolish enough to listen to the Cassandra voices that urged us to join 10 years ago….”

    As this story develops it will be interesting to see how with the mounting DEBT* problems in BIM*, if “the captain” will be forced by the IMF to make a dramatic dollar DEVALUATION*, plunging the Barbados economy in freefall….

    Whatever happens in the Eurozone does not bode well for Barbados in any shape, form or fashion…

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23. 

    Christopher Halsall

    February 4, 2010 at 9:17 pm

    
    

    @TMB: “Whatever happens in the Eurozone does not bode well for Barbados in any shape, form or fashion…

    Wow. Scary…

    But then that is the whole point.

    Is it not?

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24. 

    Pearl

    February 4, 2010 at 11:06 pm

    
    

    John Da Silva raised a good point in that politicians spend to much time attacking each other rather than running the country.

    It’s the same with the people. Blaming BLP or DLP at this point in time is no help to any of us. Ms Mottley said there were alternatives to freezing public sector wages. What are they?

    What we need to know now is how we are going to get out of this mess, and how we can all work together to get the country back on track, regardless to political persuasion.

    I personally hope we do not go to 17.5% on VAT, that would be the final nail in the coffin for many a person.

    One thing the Government could do is to stop messing around with fuel prices. What’s the point in reducing the cost of petrol by 1 Cent?. Why not keep that 1 cent per litre and put it into the economy. Every little helps.

    Can anybody else suggest other methods of increasing revenue to the Government in little ways i.e. 1 cent $1.00 where it doesn’t hurt our pockets too much?

    Another thing that worries me is this drought and it’s affect on our agriculture and economy…..not looking too good all round!

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25. 

    Young Bajan

    February 4, 2010 at 11:16 pm

    
    

    Alex you sure about this number $6, 198.2 billion and where the point is, cause that looking more like American debt than small country debt. That is on the scale of trillions, so make sure you are publishing the right figures. LOL
    BIM debt in the trillions, hahhhahahahahahahhahahahahah. good joke

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26. 

    freewilly

    February 5, 2010 at 1:05 am

    
    

    Thompson will end up like Obama… only difference is Obama can carry out a false flag attack to save his presidency and get the backing of the people..Bajans already know Thompson lied to get power..a lot of talk about locking up BLP thieves and blah blah blah and doing nothing about the corruption and integrity legislation has already sunk his ship..in comes Mia Mottley…Lord help us.

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27. 

    freewilly

    February 5, 2010 at 1:29 am

    
    

    There is no hope because Thompson is following orders like a nice choir boy..America is finished…and we are pegged to their dollar..that means back to the good old days…lets welcome them people.
    http://www.infowars.com/whos-left-a-few-ultra-rich-and-us-the-tapped-out-masses/

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28. 

    The People’s Democratic Congress

    February 5, 2010 at 9:00 am

    
    

    Thanks for the comment, BU.

    Good substance, Hopi!!

    The United States economy went into recession in December, 2007, so said the National Bureau of Economic Research ( a group of mainly private economists in the US that tells when recessions in the US started and when they ended).

    The Barbados economy went into recession in the 2 nd half of 2008.

    The United States’ recession ended in the middle of 2009. Well, at least most so-called economists who have been surveyed by different groups in the US think so – e.g. the National Association of Business Economics surveying of 34 out of 43 so-called economists who said the recession was over in the States ( Google CBS news ). The said National Bureau of Economic Reseach has NOT yet made a determination on whether it has ended or NOT.

    The US was able to end it recession mainly through the Federal government’s massive stimulus packages – through so-called TXATION credits and rebates, increased government spending – and bank and other bail outs/ the easing of credit flows by the Fed.

    Meanwhile, the Barbados economy has sunken into a depression.

    The Governor of the Central Bank of Barbados, Dr. Delisle Worrell, has already gone on record as opposing any stimulus packages primarily because of what he says would be lethal consequences for the Balance of Payments of the country.

    This DLP Government is on record as being for and against stimulus packages for Barbados, depending on what the Prime Minister is reported to have said at different times in the past.

    Our party is NOT against stimulus packages in any form or fashion, BUT our party is against TAXATION, INTERESTS RATES, MOTOR VEHICLE INSURANCE, REPAYABLE, MORTGAGES, INSTITUTIONAL PRODUCTIVE LOANS, EXCHANGE RATES PARITIES WITH THE BARBADOS DOLLAR, THE
    IMPORTATION OF
    FOREIGN “PRICES”
    OF
    GOODS AND SERVICES, THE EXPORTATION OF OUR GOODS AND SERVICES TO FETCH FOREIGN “PRICES”/VALUE, and all such things that help to lead to long term recession/depression in the so-called Barbados economy.

    Now, there is much national discussion in Barbados going on over what Dr. David Estwick said at last Sunday’s DLP Constituency Conference, that he will be recommending to the Prime Minister a wages freeze for the public sector.

    Dr. Estwick, the Minister of Economic Affairs, says that there is a need to cut government expenditure, so something has to give.

    But only after this said inept DLP Government would have gone and imposed and got for one year at least BDS $ 150 Million in Taxation starting in July, 2008 and having kept those same rates for 2009/10 achieved for another 8 months at least BDS $ 80 Million so far, and imposed draconian fuel prices in April of 2008, and water rates increases to the tune of 60 % in July last year; and would have gone and increased government expenditures by 14.1 per cent in 2008 and increased
    government expenditures by 3.4 last year, in the face of falling TAXATION thefts across those periods.

    Meanwhile, the fiscal deficit has reached a staggering BDS $ 900 million dollars, according him. Our calulation makes that 11 % of GDP. Furthermore, the Minister goes on to say that the government’s debt has reached 120% of GDP.

    But, what is so so patently clear from the the US rebound and from many of the disgraceful fiscal policies of this DLP Government, is that TAXATION, INTEREST RATES, MORTGAGE, REPAYABLE INSTITUTIONAL LOANS REGIMES, in addition to the IMPORTATION OF FOREIGN “PRICES” OF GOODS AND SERVICES, THE EXPORTATION OF GOODS AND SERVICES TO FETCH FOREIGN PRICES/VALUE, EXCHANGE RATES PARITIES, and the particular laws and policies that undergird such, are the primary reasons for PARTICULAR ELITES AND GOVERNMENTS manipulating recessions, depressions booms and expansions in ALL countries where such wicked structures and policies exist.

    Too, if the primary assumption of some so-called economists in Barbados is that there is about a six month lag between the start of growth and recession periods in the US and Europe ( shakers) and the time ( 6 months ) before such would impact on Barbados ( a taker ), then it is clear why Barbados has at this stage entered a deeper depression that will last well into 2011, at a time when the US economy has already come out of recession since the middle of last year.

    Such an assumption and how the Government of Barbados is spectacularly failing to properly position itself in relationship to its own affairs and in relationship to international political economic affairs, show at least five things:

    1) that the Barbados economy is NOT as dependent ( in every possible regard ) on the US economy as some of these so-called economists in Barbados would have many citizens of Barbados to believe – unlike say the degree to which the British economy ( which has just recently come out of recession ) is found to be more dependent on the US economy than the US economy is on the British economy;

    2) that the economy has failed to properly diversify away from American and British interests, but only to the extent that it entirely reasonable to carefully lessen its dependence on such interests; and every since when it was the beginning of many opportunities to look to other places for the further growth and development of our local and international goods and services markets;

    3) that the government of Barbados exercises a very significant degree of unnecessary control over the local economy via its fiscal and monetary policies;

    4) that this severe economic crisis in Barbados has mainly been home grown; and,

    5) that there has been GROSS and RECKLESS mismanagement of this economic crisis by this wayward DLP Government, and that this crisis was mainly dastardly engineered by the BLP.

    But, why would this intellectually bankrupt DLP government wish to continue with that wicked policy of the former BLP Government of NOT extracting workers from out of the government service ( their having placed thousands of them there after 1994 ) for them otherwise to be properly and carefully integrated into the far more efficient and productive private sector ( thus trained, if that is required, to conduct their own businesses or to be in partnership business with one another) so that they would be more empowered and enfranchised – and at a time when thousands upon thousands have lost their jobs in the private sector but still are looking to reposition themselves in the private sector? must be for purely stupid narrow and self serving political reasons on the part of the DLP.

    Why should the government at this stage be seen to be a blasted big burden on most of the private sector? Why like hell? Mr. Thompson is dead wrong to pursue this kind of ram goat policy, that will surely in the medium to long term lead to further deterioration and degradation of the productive and financial affairs of this country.

    Mr Thompson is sending the wrong message to the right voters that the government sector will be continue to be a bloody parasite on the private sector.

    Who can blame some within the private sector if they withhold some levels of investment under these fascist conditions.

    And as for you Mr. Crusoe you had better rethink your ideas – on more TAXATION – which private sector people you think are going to allow the government to continue to steal from them to continue along the way of building up a huge inefficient unrational unwieldy costly government service? which ones? and dont do a damn thing about it? Dont you know what that helps do? Among other things, that helps to fuel a cycle of vicious exploitation by ideological, political and financial and by means of work too of the broad masses and middle classes by most of the elite and the state in this country.

    Surely, it is high time then that most of the private sector and the broad masses and middle classes throw the damn DLP and the blasted BLP off their backs, for continuing to think about and act primarily on the basis of their own narrow political financial corporate familial cronistic foreign interests rather than thinking and acting primarily on the basis of the nation’s the country’s fundamental interests, and for their continuing to trifle with and manipulate the lives of the broad masses and middle classes in this country in their own very stark ways.

    So, Down with the damn DLP and the Blasted BLP!!!

    PDC

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29. 

    Adrian Hinds

    February 5, 2010 at 9:55 am

    
    

    @freewilly;
    America is finished???? are you confusing the Eurozone for America???? LOL!

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30. 

    Hants

    February 5, 2010 at 10:22 am

    
    

    “The United States’ recession ended in the middle of 2009.”

    Absolute nonsense. The economist can manipulate the numbers all they want but no one living in North America believes that.

    The recession continues while the Governments keep “stimulating” their economies.

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31. 

    Adrian Hinds

    February 5, 2010 at 1:03 pm

    
    

    Hant understood. The whitehouse, US congress, business leaders and those on their payroll like economist are not fooling the citizens, we know it aint so. However “freewilly” is forcasting the “end” of America, not sure what he means by that.

    Anyway to David Thompson. The news out of England reads…..

    U.K. CHARGES FOUR LAWMAKERS IN EXPENSE SCANDAL

    Time to come clean on what you told us about the BLP during the election campaign.

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32. 

    Bush Tea

    February 5, 2010 at 7:42 pm

    
    

    @Adrian, you REALLY don’t understand what freewilly means by the ‘end of America’….. or you just refuse to believe it?
    … he mean that just now wanna @$$ heading for the grass….
    …play that you ain’t know….

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33. 

    Bajan Atheist

    February 6, 2010 at 7:10 am

    
    

    no wage freeze….re-introduce a price control dept, increase VAT by 5%…

    you people wanted change, now accept the damn change you got

    i knew this was going to happen after the DLP won…

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34. 

    David

    February 6, 2010 at 7:18 am

    
    

    Prime Minister Thompson, it looks like the honeymoon is done. Barbadians who have become fat and lazy by depending on the same old economic model are knocking themselves out in the current economic climate.

    A pity the BLP seems to be in a little disaray because there is an opportunity for them to make-up some ground now.

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35. 

    Bush Tea

    February 6, 2010 at 9:10 am

    
    

    “…i knew this was going to happen after the DLP won…”

    So what!!

    Bush Tea said years ago that it was going to happen ANYWAY!!

    Wise management during the time of plenty may have given us some options during the crisis….instead we had mismanagement and thievery.

    Agreed that that is now history. But wanna BLP fowls could really hush!
    …only making the PDP look viable…

    The DLP meanwhile clearly has no plan…. and no sign of one after 2 years. Probably overwhelmed with the reality of responsibility.

    …besides, when has a lawyer been known to be decisive? I had hoped that Thompson would have been different but alas…..

    What is needed?

    A national plan.
    A call to arms.
    ….clear and realistic objectives.
    …. leaders who lead from the front and by personal example.
    And having agreed on a national plan, forceful, fair and decisive actions to support the agreed plan.

    Ok we can wake up now! IT AIN’T going to happen. We just don’t have the testicular spheres to exercise such leadership.

    …and so it is going to be quite bad….quite soon.

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36. 

    Pearl

    February 6, 2010 at 11:29 am

    
    

    What the Government needs to do is to cut out all non essential expenditures e.g. Constituency Councils (the sort of thing you have when a country is flush with money), all the parties, maybe reduce the number of MP cars etc.

    Unfortunately it is always the little man that has to pay for everything. So if they do unfortunately decide to freeze Public Service workers salaries (which could reduce spending and slow down the economy even further and have knock on effect on the private sector), the Government should lead by example and take a wage cut. That may give the impression that they are on the side of the people.

    Its time to make some tough decisions, rather than popularity decisions, such as reintroduction of a bus fare for students until things get better, even if its 50c, if they want to deter them from using the PSVs. However, they would need to identify those children really in need an issue bus passes or something. Those parents who can afford it can pay. May seems harsh but it will be cheaper for us than an across the board increase in VAT to 17.5%.

    The Government just needs to be honest with us and ensure all members of the Government are on the same page. It’s starting to appear that there is some underlying divide in their party or lack of control. They need to get there act together and come up with a recovery plan for the economy and quickly. Make it convincing and get the majority of people on board. I think people will be more prepared to tough it out if they can see light at the end of the tunnel.

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37. 

    Undertaker

    February 6, 2010 at 2:17 pm

    
    

    Public servants and the public service on the whole is being used and abused by the DLP operatives. I should know, I work for a Government dept. we make a lot of purchases in fact we purchase from all sectors of the island. Before we elections we were able to share the pie with 2/3 players in a particular area but not now, what has happened in the last 2 yrs is that people have throwned their weight and we are dictated to by top management, whom are also dictated to about who to buy from, hence in some instances people with no experience have started companies and have been raping our accouts dept. they charge higher prices and in a lot of cases are down right inefficient. Let me give some examples, since we are a govt. dept that is always critised by the public and the politicians for not making money when they have us in this position.

    Chemicals – new supplier over twice as expensive, quality not as good.

    Lumber & hardware – limited to one supplier, prices not always cheaper.

    Tyres & Batteries 50% increase in prices limited to one supplier. (they have ignored tender)

    food stuff – cheaper supplier has been greatly reduced new player prices over 30% higher.

    Customs broker – previously three now only one, VERY INEFFICIENT in fact in have started business lately and knows NOTHING about customs brokering. Freight higher, broker fees higher, and slow, inexperienced and inefficient costs us hundreds of dollars in storage. What would have taken others 2/3 DAYS takes him up to 3 weeks, we have had him for over a year and have had to pay storage on every shipment.

    That is why the Government departments, and Statutory depts are inefficient and lose money because for political dictating.

    So much more I could say, not to mention how weak and scared management at this place is.

    Undertaker……..

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38. 

    The Scout

    February 7, 2010 at 10:14 am

    
    

    Undertaker
    If what you are saying is true, and I have no reason to doubt you, then that is a VERY SERIOUS matter. The whole idea of wage/salary freeze can be the downfall of not only the DLP but the country alltogether. Before a freeze, there must be a freeze of increases in the essential services and in prices on food stuff. Water rates, electrical rates, property tax, telephone rates, plus increasingly higher prices in the supermarkets and other food places, now we are hearing the poultry people talking about an increase. Couple this with a rise in unemployment and the granting of work to non-nationals over the locals, this ALL spells a recipe for disaster for this country. Yes, we are in great trouble but ad hoc methods should not be used to get out. These methods need to be carefully thought out before action is made.

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39. 

    The Scout

    February 7, 2010 at 10:20 am

    
    

    I must commend Min Lashley for the work he is doing but I would like to caution this government about the backlash that can occur from the sale of these houses. Many of the new house owners are proud to “turn their own key” but what wqill happen if the economy gets worse and many of these same people are either out of work or simply can’t pay? There would be mass foreclosures in Barbados and there are non-national vultures who are standing by to snap up these houses. When this happens these people are going to be back in the same boat or a now leaky one, while a few poarasites in barbados will be smiling all the way to the bank.

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40. 

    Hopi

    February 7, 2010 at 11:20 am

    
    

    The foll are excerpts from:

    “SILENT WEAPONS FOR A QUIET WAR”

    which sad to say, is the MO that’s at play worldwide. The Many are controlled by the Few.

    “Economic Shock Testing”

    In recent times, the application of Operations Research to the study of the public economy has been obvious for anyone who understands the principles of shock testing.

    In the shock testing of an aircraft airframe, the recoil impulse of firing a gun mounted on that airframe causes shock waves in that structure which tell aviation engineers the conditions under which parts of the airplane or the whole airplane or its wings will start to vibrate or flutter like a guitar string, a flute reed, or a tuning fork, and disintegrate or fall apart in flight.

    Economic engineers achieve the same result in studying the behavior of the economy and the consumer public by carefully selecting a staple commodity such as beef, coffee, gasoline, or sugar and then causing a sudden change or shock in its price or availability, thus kicking everybody’s budget and buying habits out of shape.

    They then observe the shock waves which result by monitoring the changes in advertising, prices, and sales of that and other commodities.

    The objective of such studies is to acquire know-how to set the public economy into a predictable state of motion or change, even a controlled self-destructive state of motion which will convince the public that certain “expert” people should take control of the money system and reestablish security (rather than liberty and justice) for all. When the subject citizens are rendered unable to control their financial affairs, they of course, become totally enslaved, a source of cheap labor.

    Not only the prices of commodities, but also the availability of labor can be used as the means of shock testing. Labor strikes deliver excellent test shocks to an economy, especially in the critical service areas of trucking (transportation), communication, public utilities (energy, water, garbage collection), etc.

    By shock testing, it is found that there is a direct relationship between the availability of money flowing in an economy and the psychological outlook and response of masses of people dependent upon that availability.

    For example, there is a measurable, quantitative relationship between the price of gasoline, and the probability that a person would experience a headache, feel a need to watch a violent movie, smoke a cigarette, or go to a tavern for a mug of beer.

    It is most interesting that, by observing and measuring the economic modes by which the public tries to run from their problems and escape from reality, and by applying the mathematical theory of Operations Research, it is possible to program computers to predict the most probable combination of created events (shocks) which will bring about a complete control and subjugation of the public through a subversion of the public economy (by shaking the plum tree).

    “THE ARTIFICIAL WOMB”

    From the time a person leaves its mother’s womb, its every effort is directed toward building, maintaining, and withdrawing into artificial wombs, various sorts of substitute protective devices or shells.

    The objective of these artificial wombs is to provide a stable environment for both stable and unstable activity; to provide a shelter for the evolutionary processes of growth, and maturity – i.e., survival; to provide security for freedom and to provide defensive protection for offensive activity.

    THE POLITICAL STRUCTURE OF A NATION – DEPENDENCY

    The primary reason why the individual citizens of a country create a political structure is a subconscious wish or desire to perpetuate their own dependency relationship of childhood.

    Simply put, they want a human god to eliminate all risk from their life, pat them on the head, kiss their bruises, put a chicken on every dinner table, clothe their bodies, tuck them into bed at night, and tell them that everything will be alright when they wake up in the morning.

    This public demand is incredible, so the human god, the political, meets incredibility with incredibility by promising the world and delivering nothing. So who is the bigger liar?, the public?, or the ‘godfather’?

    This public behavior is surrender born of fear, laziness and expediency. It is the basis of the welfare state as a strategic weapon, useful against a disgusting public.

    ACTION/OFFENSE

    Most people want to be able to subdue and/or kill other human beings which disturb their daily lives, but they do not want to have to cope with the moral and religious issues which such an overt act on their part might raise. Therefore, they assign the dirty work to others (including their own children) so as to keep the blood off their own hands. They rave about the humane treatment of animals and then sit down to a delicious hamburger from a whitewashed slaughterhouse down the street and out of sight. But even more hypocritical, they pay taxes to finance a professional association of hit men collectively called politicians, and then complain about corruption in government.

    RESPONSIBILITY

    Again, most people want to be free to do things (to explore, etc.) but they are afraid to fail.

    The fear of failure is manifested in irresponsibility, and especially in delegating those personal responsibilities to others where success is uncertain or carries possible or created liabilities (law) which the person is not prepared to accept.

    They want authority (root word – ‘author’), but they will not accept responsibility or liability. They hire politicians to face reality for them.

    SUMMARY

    The people hire the politicians so that the people can:

    (1) obtain security without managing it.

    (2) obtain action without thinking about it.

    (3) inflict theft, injury, and death upon others without having to contemplate either life or death.

    (4) avoid responsibility for their own intentions.

    (5) obtain the benefits of reality and science without exerting themselves in the discipline of facing or learning either of these things.

    They give the politicians the power to create and manage a war machine to:

    (1) provide for the survival of the NATION/WOMB.

    (2) prevent encroachment of anything of anything upon the NATION/WOMB.

    (3) destroy the enemy who threatens the NATION/WOMB.

    (4) destroy those citizens of their own country who do not conform for the sake of stability of the NATION/WOMB.

    Politicians hold many quasi-military jobs, the lowest being the police which are soldiers, the attorneys and the C.P.A.s next who are spies and saboteurs (licensed), and the judges who shout the orders and run the closed union military shop for whatever the market will bear. The generals are industrialists. The ‘presidential’ level of commander-in-chief is shared by the international bankers. The people know that they have created this farce and financed it with their own taxes (consent), but they would rather knuckle under than be the hypocrite.

    Thus, a nation becomes divided into two very distinct parts, a DOCILE SUB-NATION and a POLITICAL SUB-NATION. The political sub-nation remains attached to the docile sub-nation, tolerates it, and leaches its substance until it grows strong enough to detach itself and devour its parent.

    “ENFORCEMENT”

    FACTOR I

    As in every social system approach, stability is achieved only by understanding and accounting for human nature (action/reaction patterns). A failure to do so can be, and usually is, disastrous. As in other human social schemes, one for or another of intimidation (or incentive) is essential to the success of the draft. Physical principles of action and reaction must be applied to both internal and external sub-systems. To secure the draft, individual brainwashing/programming and both the family unit and the peer group must be engaged and brought under control.

    FACTOR II FATHER

    The man of the household must be house-broken to ensure that junior will grow up with the right social training and attitudes. The advertising media, etc., are engaged to see to it that father-to-be is pussy-whipped before or by the time he is married. He is taught that he either conforms to the social notch out for him or his sex life will be hobbled and his tender companionship will be zero. He is made to see that women demand security more than logical, principled, or honorable behavior. By the time his son must go to war, father (with jelly for a back bone) will slam a gun into junior’s hand before father will risk the censure of his peers, or make a hypocrite of himself by crossing the investment he has in his own personal opinion or self-esteem. Junior will go to war or father will be embarrassed. So junior will go to war, the true purpose of the war notwithstanding.

    FACTOR III MOTHER

    The female element of human society is ruled by emotion first and logic second. In the battle between logic and imagination, imagination always wins, fantasy prevails, maternal instinct dominates so that the child comes first and the future comes second. A woman with a newborn baby is too starry-eyed to see a wealthy man’s cannon fodder or a cheap source of slave labor. A woman must, however, be conditioned to accept the transition to “reality” when it comes, or sooner.

    As the transition becomes more difficult to manage, the family unit must be carefully disintegrated, and state controlled public education and state operated child care centers must become more common and legally enforced so as to begin the detachment of the child from the mother and the father at an earlier age. Inoculation of behavioral drugs can speed the transition for the child (mandatory). CAUTION: A woman’s impulsive anger can override her fear. An irate woman’s power must never be underestimated, and her power over a pussy-whipped husband must likewise never be underestimated. It got women the vote in 1920.

    FACTOR IV JUNIOR

    The emotional pressure for self-preservation during time of war and the self-serving attitude of the common herd that have an option to avoid the battlefield — if junior can be persuaded to go — is all of the pressure finally necessary to propel Johnny off to war. Their quiet black mailings of him are the threats: “No sacrifice, no friends; no glory, no girlfriends.”

    FACTOR V SISTER

    And what about junior’s sister? She is given all the good things of life by her father, and taught to expect the same from her future husband regardless of the price.

    FACTOR VI CATTLE

    Those who will not use their brains are not better off than those who have no brains, and so this mindless school of jellyfish, father, mother, son, and daughter, become useful beasts of burden or trainers of the same.

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41. 

    Albert

    February 9, 2010 at 8:23 am

    
    

    Did you see this?

    Tourism, long believed by economic pundits to be the sector to pull Barbados out of the global economic recession, is already showing tremendous signs of improvement in 2010.

    Barbados Tourism Authority (BTA) preliminary figures show a 5.3 per cent increase in arrivals as at January 29 over the previous period in 2010, while official 2009 figures show that tourism officials met their target with the sector waning by 8.6 per cent. Early 2009 predictions were for a performance in the region of -8.5 per cent.

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