Owen’s Economic Team

Submitted by Douglas Leopold Phillips

 

Leader of the Opposition, Owen Arthur

Its official, the Owen’s Economic Team [OET] headed by the economic guru Owen Arthur has been dispatched on a world tour to meet with the leaders of the global economy to hammer out solutions to the financial crisis. This sudden trip was prompted by the unprecedented events that unfolded over the last week which the OET believes are as a result of poor economic leadership. They believe that their analysis of the economic outlook is bang on and so they want to share it with the struggling and sagging economies in China, US, UK and Europe.

We have been told that the on the fourth anniversary of the global financial crisis the after effects are still pounding the shorelines of small open economies with little or no clear vision of when recovery will come. One thing for sure is that no right thinking person, no matter how little their understanding of economic matters believe that it is business as usual for the global economy. This is why, we as Barbadians, under a Barbados Labour Party model would be the direct beneficiaries and sole recipients of the formula that would place our economy on a sustainable path of growth. They alone can do what the largest economy in the world has been unable to deflect.

The US Bureau of Statistics indicated in early August 2011 the Government payrolls dropped 37 000 in the month of July, citing nine straight months of job losses. This came as a result of government’s shut down in Minnesota. Of course, in Barbados the OET of the day has not given the Democratic Labour Party any credit for ensuring that we maintain jobs in the public sector. We acknowledge that our unemployment is at 10 percent but it’s nowhere near the 20 percent as predicted by the Opposition at the outset of the crises. As a matter of fact, Senator Darcy Boyce recently made the point “that a 10 per cent rate of unemployment after such a severe economic and financial crisis is significant. He stated that over the last two quarters the rate had fallen from 10.7 per cent which, according to him, was the maximum level the figures had reached.”….. Comparing this rate with the immediate period before and after 9/11 which had an effect on Barbados, Senator Boyce said that in 1998 the rate of unemployment rate was 12.2 per cent. According to him, the rate has not reached 12 per cent since the onset of this crisis.”

We here in Barbados expect the OET team to return with Gold Bars from the US Treasury for the part they played in solving the deficit problem of the United States. We appreciate the 2 trillion dollar cut in expenditure will not sit well with the OET as they scolded local policy makers for developing the Medium Term Fiscal Plan, aimed at repositioning the Barbados economy while protecting the poor and vulnerable. The troubled nations of the Eurozone Greece, Italy , Spain and Portugal which sought International financial help are also on their travel plans to meet with. We have not received any word as yet but we believe a tongue lashing was the order of the day by the Economic team after they met with the G7 Finance Ministers in their emergency conference earlier this week. This meeting according to high level sources looked at the problems engulfing Italy and Spain.

On another leg of their world tour, the Team met with George Osbourne, the Chancellor who had to cut short his holiday in California so he could address the MPs on the state of play in the UK economy yesterday.  The slowdown in growth in the UK economy has raised some concerns for the OET as is the case here in Barbados. They are adamant that these problems are home grown and nothing to do with the global financial crises.

This discussion is widely anticipated to include the Prime Minister David Cameron who also addressed the re called Parliament on the issue of riots. After all, the Opposition team has vast experience in dealing with rioters. The incident at the Prison more than prepared them to render the necessary advice. They can be no doubt that the economic squad will do us proud on the world tour in an attempt ”to bring balance to what there are saying about economy.”

0 thoughts on “Owen’s Economic Team


  1. Here is the talk back poll the nation is running on Facebook. Are these people living on the planet earth?

      The Nation Barbados
    Do you believe Tuesday’s Budget will bring an ease, or a further squeeze?Log on to http://www.nationnews.com and take the Quick Poll and VOTE.Also comment below and tell us what you are expecting from Minister of Finance, Chris Sinckler. delivers the Budget.


  2. Anyone who expects an ease will be very disappointed, Barbados is in serious fiscal trouble and to bring an election budget would be madness. The best thing to do is level with the barbadian people, let us know exactly what the position is, therefore when we have to tighten our belts more we would know why, but sugar coating the position has already led this government in hot water and to continue this way we would all be bolied alive. I have stated a while ago the government MP’s should ALL take a 15% deduction in salary and ask the opposition to accept al lease a 10% deduction. Most of these overseas travels can be done in teleconferences and even when they do have to travel, fly economy and stay in an ordinary hotel room, NOT A SUITE. These gestures will show they are really willing to assist in pulling Barbados out of this rut.


  3. and while your at it stop buying such expensive jeeps as company vehicles.

    why does the land tax department need a 200,000 jeep to do its job?


  4. The Scout | August 11, 2011 at 8:56 PM |
    I do not think that our leaders have matured to that level – they likely still define themselves by the trappings of the job, alike the many Barbadians that sell the banks and other finance companies a call option on their salaries and wages, in many instances to acquire unnecessary items. We have Barbadians that work off their Cornwells all week for a few hundred dollars and then exchange most of it for some false hair, which the merchants probably bought at a dirt cheap price. Start now to communicate the appropriate messages to our children, from primary school, so that they have a new set of values. Stop creating net consumers.


  5. govt vehicles are acquired duty free so the exorbitant figures are not the true costs but there is merit in having less expensive vehicles duty free or not to conduct the business of govt.


  6. while it is true that Government vehicles are duty free, that doesn’t mean that they have to be wasteful. As far as I am concerned they should be driving the smallest, most fuel efficient cars possible, subject to needs. Obviously some departments would need a pickup and other big vehicles.

    But when I see Prime Minister’s Office on the side of a L200 which looks as thoough nothing has ever touched the tray, then I wonder.

    Also, I don’t get why MPs need 7 series BMWs. Why not a Honda Accord, Nissan Maxima ot Toyota Corona. They are all very nice cars, probably half the price (even duty free) of these luxury vehicles and it would send a message that Government was being prudent with the people’s money. A 7 series BMW barely fits on even the best roads on the island. I wonder how some of the rural MPs get theirs into their communities, because they definetely don’t fit on most country roads.


  7. @balance : correct me if i’m wrong… but isn’t a government plated vehicle “MP…” running cost is paid by the government ? insurance, fuel , maintenace or are partially paid. ?


  8. X MP’s are NOT provided with cars that went out with the Late Prime Minister Mr Errol Barrow years ago so please in an effort to make a non point please reflect the truth, MP’s are not given cars by this DLP adminstration that is a cock and bull story as only the blp can do distort facts.


  9. To Jeff:
    The land tax dep’t needs that expensive jeep to find tax dodgers like you and all the rest of you blogging here. Most of you hide in crannies and cliffs so the terrain vehicle is very much needed. For example, some idiot like you once bought a two wheel drive vehicle for the min of labour to monitor quarrying. when the officers got to the bottom of the quarry, a truck had to give them a tow.


  10. Propoganda about a dire local economic situation, coupled with attempts to blame the last administration and the global climate for our woes is the poorest way to engender confidence, support or even empathy from an electorate that’s feeling the pinch (or uppercut cuff) in every aspect of their households. Couple that with “silent” leadership, mixed messages, few tangible achievements to shout about and a generally speaking less than inspiring team over the past 3 years and I’m left to wonder if next election isn’t the BLP’s to lose.

    The DLP always seem to have problems doing things properly…or at the very least make it look as if it was done properly.

    Bajans are intelligent…just let us know how bad it is, let us know what we need to do and then show us some results when we actually do it. Once we see that we’ll be fine. This politicking, partisanship and personal posturing with critical social and financial issues at such a collectively challenging time is bullshit in the highest and quite frankly a bit insulting..


  11. Hi amusing:
    Even more amusing is the item in toady’s nation where candidates that were chosen by the constituency branches, the very mechanism to ensure a victory in the polls, have been put aside for favourates. I have no beef for any ABED, but it cannot be fair to him. Maybe the leadership of the DLP is telling him to pick a fair.


  12. OFF TOPIC: It appears that sometime in 2012 or 2013, the CCJ will be called upon in the case of Caleb Orosco and UNIBAM v the AG of Belize to make a decision as to the decriminalization of sodomy. Such decision will be binding upon the courts of Barbados. This occurrence may lead to Parliamentary action after the fact, or even the recognition that there are some societal areas in which, how we live together and govern ourselves, should only be disturbed by Parliamentary action or a populist mechanism such as a referendum and not by regional courts embracing the agenda of metropolitical entities or other elites.


  13. The Orosco matter goes to the trial court in Belize in December 2011. It will be interesting to note if the governments of Barbados and Guyana will make any representation in the matter.


  14. Why does anything done by those at the Nation surprise anyone? Led by Albert “Rumpuff Branford” ,Mia’s moppets have for a very long time fed us Nation views as opposed to Nation news. Watch dogs have been replaced by Lap dogs. Poorer is our country for that change.


  15. @ Hamilton Hill

    “have for a very long time fed us Nation views as opposed to Nation news. Watch dogs have been replaced by Lap dogs. Poorer is our country for that change.”

    But what about the Advocate feeding us with DLP propaganda as opposed to real news. At the Advocate, watchdogs have also been replaced by lapdogs. Even poorer is our country for that change.


  16. @Christopher
    Great article.

    Question is, what type of government or leader would be willing to “spread” power and wealth for the good of the country and its people on a whole?


  17. @Observing: “Question is, what type of government or leader would be willing to “spread” power and wealth for the good of the country and its people on a whole?

    A leader or government who is honest with its electorate.


  18. @Wake up! | August 12, 2011 at 2:18 PM |
    “Don’t forget the gorilla in the corner of the room – CLICO”

    Looks to me like a Gorilla AND an Elephant, and they are taking up the WHOLE room!


  19. @ Artaxerxes… my point exacly. I sighted the most prolific daily in the country, who by the way started this practice long before the rulers of the other pound………@ Truthman Burton…….. Here you go again with this CLICO thing again. By the way exacly who are you? On your every chance you tell us who Carson C Cadodan is,but who are you? Some say Kerry Simmonds,others say David and others say Peter. My senses tell me that from performance you must be Phil Simmonds ,around real long but always came up short. Know what I mean? Nuf tenure but little talent. Seems to me that you do have some connection though,for as soon as I told you that no one wanted to hear from you about CLICO, out came Mia with these questions for the P M. Let me try this tactic. Why don’t you tackle the vote rigging that took place in St.James North,and see if Mia would take that up as well? Perhaps she could pose some questions to the Messiah, so that all of Barbados gets to see that it aint only Frundel who aint saying a damm thing. Think you could do that Phil? Or even dat too hard for a batsman of your ilk?


  20. Hammy Hill, don’t tell me that you’ve been pouring all over this blog, looking for any little comment made by me, that you can attack? Who made me your nemisis? For an ordinary freedom-loving bajan man like me, whom you describe as having “little talent”, I sure am driving some fear in your heart man!

    There’s no need to be so concerned about who I really am. I find it most hilarious that you George Street incompetents keep adding names as to whom I could possibly be. This TRUTHMAN BURTON, this regular bajan, with a deep interest in the affairs of his beloved country, has been variously identified as CLYDE MASCOLL, KERRY SYMMONDS, and a host of others.

    Now you Hammy, are calling me David Simmons, and Peter Simmons? Uh feel real humble man! Not just compared with, but to be identified as these illustrious, outstanding people? But tell me Hammy, how could I be identified as being these seriously accomplished persons, and yet be thought of by you as having “little talent”?

    Since you are so eager to give me an exercise, here’s one I am giving you. Why don’t you tackle Donville’s Inniss pornography business, from which he makes millions, out of which I hear is funded: (a) living high on the hog (he don’t need the fatted calf), (b) drink up/eat up parties all through the year, (although not as many as the DEMS) , (c) DLP Campaign expenses.

    Maybe KELLIE or DAVID ESTWICK, or one of dem fellows would take it up, as you would say, and pose some questions to Freundel about this member of Cabinet, this “family man” could be involved in such heinous activities, and still be in Cabinet unhindered, untouched! Destroying, not only the reputation of Ministerial standards in this country, but the precious lives of impressionable teenage girls!


  21. One thing I know. Owen Arthur, as Prime Minister, would have investigated and fired his tail long time ago!


  22. I win de toss and send you in , try hard and bat Phil, de bouncers will soon start flying. I was right there when “Mudda Sally”and wunna deal wid dat,right there pun you door step.Dat you gone back there tells me DE THINK TANK EMPTY.


  23. @HAMILTON HILL | August 14, 2011 at 10:08 AM |
    “I win de toss and send you in , try hard and bat Phil, de bouncers will soon start flying. I was right there when “Mudda Sally”and wunna deal wid dat,right there pun you door step.Dat you gone back there tells me DE THINK TANK EMPTY.”
    ****************************************
    Sure, you won the toss Hammy, but I was not in any match with you, and as I would expect from you, you were using either a two-headed coin, or a two-tailed coin, which means you would have won the toss anyhow. I am not sure what you are speaking of ….. this “Mudda Sally” and all, so don’t talk to me in parables. Just remember that you started your own squabble!. All I did was make a simple and understandable comment about the CLICO elephant in the room,and you flew into a rage. After all, the truely agrieved ones, the members of the Barbados Investors & Policy Holders Alliance Inc. (BIPA), are screaming blue murder for resolution of their legitimate claims on this “good gone bad” rogue company!

    If you are in a protectionist mood like your DLP “PALS”, and you have something to hide, that’s your business. My position is, I share the concerns of the Policy and Annuity holders. Leroy Parris may be a PAL of the late king,and of FREUNDEL, but he certainly ain’t one of DLP Stalwart Sir Phillip Greaves.

    By the way, are you resident in Canada along with HANTS, and I think SARGEANT?


  24. @ Truthman Burton…….No Sir,I’ve been to Canada three times .I am where my ballot will be delivered in the most secured diplomatic pouch of them all, where the best C G resides. N Y C.


  25. yes amusing the running costs of govt vehicles plated’MP’ are met from consolidated fund. maintenance and upkeep of govt vehicles take up a significant portion of govt expenditure. i do not feel that that the country has the resources to provide vehicles expensive or otherwise for the personal use of senior govt officers and families during the course of their employment. the govt should have a fleet of vehicles to be used by such officers as the state demands not during their leisure time.

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