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Occupy Four Seasons In The Offing

Submitted by John Dillinger

Tony Marshall, Chairman of the NIS Board

I have followed your blogs [BU] with regards to the Four Seasons and Professor Persaud’s decision to ask the NIS to invest in the project as opposed to bring in international investors like the late PM David Thompson mandated him so to do. Was not the Professor to use his international connections to bring in the investment needed to restart the project? If so should we take it that he has failed to get the interest of the international investment community..the hedge funds, venture capitalists etc. to invest in Four Seasons? If so, then why?

Moreover based on two recent articles in the Nation Newspaper, one on November 24th quoting Minister Chris Sinckler as saying he expects the NIS to make a decision by the end of this week (coming after the now famous extraordinary Cabinet meeting of November 15th to “discuss” the Four Seasons project) and that the Minister of Labour and Social Security was “working closely” with the NIS on the matter. Does all of this smell like a hint of political interference in the NIS decision process with regards to the project at all, especially when it was reported that the NIS had been advised not to invest in the project?

The second major article, coming on the heels of the downward revision of Barbados’s outlook from STABLE to NEGATIVE this week, was an article saying that Standard & Poors was closely monitoring the progress with regards to the project  – how strategically timed and well placed for this article. Can we conclude that this is all meant to influence (read: pressure) the NIS into a particular decision. I hope that the Tony Marshall led NIS Board with the learned Dr Justin Robinson as Deputy Chairman would do the ethical and honorable thing  and resign if they vote with political sword of Damocles hanging over their heads…remember that it is ALL OF BARBADIAN WORKERS future pension that they are dealing with, it isn’t monopoly money – the remainder of us don’t have the benefit of a big UWI pension or large Barclays pension when we retire…we depend on the NIS,

Please don’t throw our money into an empty whole while your own is secure….or else you may be inviting Occupy Four Seasons, Barbados’s version of Occupy Wall Street or worse yet, the beginning of Bajan Spring (our own local version of the Arab Spring) Do you really want that on your conscience gentlemen?

  1. Fractured BLP Party Avatar
    Fractured BLP Party

    George Brathwaite the JOKER.

    Where was Owen Arthur and his Indepedence Day message to the Nation on its 45th Anniversary ?

    Why you did not keep him sober until he had delivered his address to the Nation ?

    Do you believe Barbadians will risk their future with drunking Owen Arthur and you ?

  2. Poor Class Avatar
    Poor Class

    You know, no one on this blog complained about the money spent on the (TIRF). The Tourism Investment Relief Fund, where the government gave money to private businesses to help them through the recession. that was tax payers money, given to those superior beings in the private sector. Those super private investors, drivers of economic growth, models of efficiency were quite happy to accept public funds to cover their operational expenses.

    I had no problem with the initiative as a way of supporting our key sector, and trying to keep employmeng up in the economy, but none of this middle upper class crowd had anything to say about this corporate welfare. Their kind are who run a number of the enterprises that benefited from the TIRF, so no problem with that. of course the argument is that it is productive activity.

    But anything geared at the lower classes, lawd no.

    Class warfare my friends, spot the selfishness and greed.

  3. millertheanunnaki Avatar
    millertheanunnaki

    @Businessman | November 30, 2011 at 10:44 PM |”
    “All the forces will be brought to bear to make sure this does not happen.”

    Like what?
    As long as they are within the bounds of the law, no problem! But no “hanky-panky” or else the country’s sterling reputation in electoral honesty will be its final undoing as a beacon of democracy in the “developing” world.

    Don’t you want people to judge you on performance and no promises?
    Sounds like desperate talk from desperate people!

  4. lemuel Avatar
    lemuel

    To poor class:
    You sound like a Minister of Government posing as a blogger. Everything you have posted reads like they are coming from a script.

  5. Poor Class Avatar
    Poor Class

    Lemuel boy I think you are way offbase. Take your head out of the books and see what is happening in the world.

    Anyone observing the world with a clear head can see that rightly or wrongly, class is back with a vengeance.

    Check out the occupy wall street movement, the strikes in the UK (big one today). I am no leftist, but the elites with their free wheeling capitalism are who brought the world economy to its knees. Governments are being downgraded and strugling as they try to pick up the mess left by the private sector.

    People can see this and there is a whole new debate emerging of which class is a major part.

    Poor class don’t mean I don’t read and don’t have access to knowledge and words. Typical middle /upper class snobbery. Its a whole, new world. a poor class like me can listen to bbc world service on radio in barbados. i can get a credit card real easy and with the internet I read the NY times/ financial times, washington post online for a few pennies. Tha was confined to an elite few up to a few years ago. I can see whats happening in the middle east from an arab perspctive on alk jazeera. I can access real knowledge and i got a good brain, thats why they cannot fool me this time.

    owen and the BLP crowd liked to lecture bajans about the WTO and trade liberalization. They convinced me that they were the only ones who understood it and how to deal with it. owen’s whole economic agenda is built around that trade libealization agenda. As I soak up the international media, that agenda seems off the table to me. When last you hear bout WTO? What trade round going on again?

    Owen and the elites on this blog keep going on about international business. as i soak up the international media that whole notion of the free wheeling, globe trotting corporate entity is being questioned and even I understand why. These banks and other financial type companies were registered and paying taxes all over the world, but when they ran into trouble you know who had to bail them out, their so called home governments. The electorate and even the elites in the advanced countries are not pleased about that. A battle is on and I don’t know who gine win.

    An argument that impresses me is that much of the growth in the US, UK and much of Europe in the last decade was not real. It was built on excessive risk taking, financial fraud and useless financial engineering. Now that is gone, at least for now, these economies have probaly lost a chunk of growth permanently. To me, barbados during the owen years rode that false wealth as it flowed here for property speculation and international business.

    Thats why I think owen and the elites on this blog are yesterday’s people because as I soak up world news and events, the economic model built around trade liberalization, international business which often equals international financial services, and everyone selling services which they espouse seems shot to me.

    Our elites reaaly seem to be saying bring back the building boom and the taxation revenues from international business, when the base source for these funds has been eroded. So they are venting their anger and frustration on the incumbent government.

    My ass poor, but I have a thirst for knowledge, and i would love to hear the learned shed some light on this ongoing debate.

    I am a very simple liver so i don’t have all the wants and expenses of many on this blog. i can survive on little, and i think we are in for a prolonged period of adjustment.

  6. Poor Class Avatar
    Poor Class

    you sound like you are reading from a script lemuel. You and the types on this blog are afraid of words like class, race, poor. well get used to it they are back on the agenda.

  7. islandgal246 Avatar
    islandgal246

    Poor class …..what exactly are you trying to tell us? How poor you are? If that is so you ent meet muh yet. I could mek soup outta marl and ham outta Ramie pigeons. What recipes can yuh share wid we?

  8. UNEDUCATED Avatar
    UNEDUCATED

    @Poor Class

    None of them can repsond to you, you forgot to add the off balnce sheet financing that make those companies appear to be more profitbale than they were. Ownen Arthur use it as well.

    All those who dont want to recognize that there must be a new worl order are devoid of common sense.

    Keep up your wonderful articles. I am with you.

  9. UNEDUCATED Avatar
    UNEDUCATED

    @ Poor Lemuel

    Have a response to the person, instead of talking shoite. I dont care if he is a minister, he making sense and poor u an mille, and enuff dont have an anser because it is intellectully above your heads. The person is not reasoning from myopic and utopia position, logic is being used.

    Wannah aint got nuh answer for the person, including one George Brathwaithe who claims to be a lecturer.

  10. UNEDUCATED Avatar
    UNEDUCATED

    @Mller the worm

    You aint say nothing yet. This is short and sweet. Dont have to write long diatrite(shite) like you. I am capable of doing such, and by the way the dictionary gives you the meaning of words.

    Continue your shoite writing. Have answers to poor class and businessman. Forget this undeducated dunce as i write shoite like you.

  11. millertheanunnaki Avatar
    millertheanunnaki

    @ Poor Class | November 30, 2011 at 11:25 PM |
    “To me, barbados during the owen years rode that false wealth as it flowed here for property speculation and international business.”

    So, tell us what is the present administration pushing as an alternative model for economic survival? Is not the DLP Administration basing the country’s economic recovery and growth on the same so-called tenuous cylinders of FDI and international business- mainly financial services- that existed under the previous administration? Hence the wait and see attitude on the performance of the int’l economy primarily those in those countries you accused of reporting ‘false” economic growth over the recent decade. The PM’s Independence Day Message is indicative of this “resigned” fate.
    You name at least one measure that has been implemented to restructure this so-called capitalist economy other than “freeing up” the energy sector to impose heavy electricity bills and bottled gas prices on the same poor people of whom you claim to be a proud member.
    Don’t mention agriculture because the food import bill is still way too high in real terms!

  12. UNEDUCATED Avatar
    UNEDUCATED

    @David

    I have not seen you commented on poor class reasonings, unless i miss it/them.

  13. millertheanunnaki Avatar
    millertheanunnaki

    UNEDUCATED | December 1, 2011 at 12:10 AM |
    Confession is good for the soul!
    Even the dull and ignorant have a story to tell!
    But as the saying goes: You can take a jackass to school but you can’t make him learn, right educated! Stop attacking the person and deal with the msg.
    Neither poor class or business man (Tweedledum and Tweedledee of “I am a very simple liver” self-deprecation) wants to discuss FoI or Integrity legislation in any long or short form so I can’t handle his partisan political diatribe.

  14. UNEDUCATED Avatar
    UNEDUCATED

    @Miller the worm

    We dont have control over energy prices on the wolr market and there is a formula in place to pass on the increase/decrease to consumers.

    You sound like one those record players that we had years ago that used to stick when the record had scratches. It was up to osa to tranform our economy when there was nuf vat money, what did he do with it? Waste it. The green economy wil tranform our structures, but remember transformation dont come overnight, that is if you know what tranformation mean.

  15. millertheanunnaki Avatar
    millertheanunnaki

    UNEDUCATED | December 1, 2011 at 12:32 AM |
    “We don’t have control over energy prices on the world market and there is a formula in place to pass on the increase/decrease to consumers.”

    But you do have control over the level of taxes imposed! How about the special subsidy given to the “poor” minibus and van owners? Can’t a special subsidy be given to the poor people who buy the 20-25 lb cylinder of LPG from T&T and not on the NY commodities stock exchange aka gambling house?

    “The green economy will transform our structures, but remember transformation don’t come overnight, that is if you know what transformation mean.”

    Yes I know what transformation means. It means turning you into a educated person who can see both sides of a story or situation in an “un-blinkered” fashion. In the meantime, tell your party to stop wasting electricity and turn off the lights in government buildings after 7.00 pm or when not in use (except for basic security lighting). While you are act it, greening the economy does not mean allowing the country to be overrun by bush. Check around government properties e.g the Ministry of Agriculture.
    See! Not Short but sweet! And full of advice!

  16. David Avatar
    David

    @uneducated

    The political temperature is rising, a general election must be close.

    BU has written extensively on all matters mentioned, our position is well documented on all the issues.

    PM Stuart had his chance to win a mandate when economic considerations would have played second fiddle and he didn’t.

    He had the sympathy factor at play after Thompson’s death in October last year which inter-played with the Owen/Mia falling out, if it can be labelled such.

    It will be difficult in these austere economic times to expect a government to engage in capacity building. The government is trying to maintain its public sector obligations to avoid the social cost that would erupt if civil servants and the like have to be sent home. There is also the political dimension of wanting to win an upcoming election. The BLP as we have stated all along is a a good position to win the government next time around and it really should have been a cakewalk if the Mia issue didn’t keep flaring up.

    The mistake or shortcoming by Stuart so far, he has not imposed himself on a Bajan electorate which has become accustom to this kind of political approach from the Prime Minister.

    He has stood in the background and allowed all and sundry to speak on matters which the public generally would prefer to hear the PM. As a result the coat tails of the DLP leader in this instance have been short.

    Businessman and Poor class comments reflect a sentiment that is out there and one BU has mentioned in previous comments.

    The BLP is perceived as being pro-merchant class and the opposite is true fort the DLP.

    We have a clash of ideology but more importantly we have a dearth of political leadership in Barbados.

    The politics here is not so much about policy measures but one of eroding confidence because of Stuart’s style of leadership.

  17. Adrian Loveridge Avatar
    Adrian Loveridge

    ‘It is a real investment and it should be done’ according to a consultant actuary with the NIS.
    ‘It may not bring returns right away; it may take a little longer than we expect. Let’s say two to three years, but ultimately we cannot lose’ Nunez said.

    ‘ULTIMATELY WE CANNOT LOSE’

    Is this the same consultant that recommended the NIS ‘investment’ in Hotels and Resorts Ltd (GEMS)?

    I really must have missed something. Isn’t it going to take two to three years to complete?

    Let us be told be told the facts and while they are at it, the financial facts regarding the taxpayer funded Hilton.

    See REAL DEAL – Nation – Tuesday 1st December 2011

  18. ac Avatar
    ac

    Poor class you have said it correctly the voodoo economics of the past has finally caught up with us. THE BLP Right now with the present leader has not presented any viable plans or alternatives to solving the economic meltdown of this economy one only have to read OSA speech recently at the Hilton similar to what we heard before . The same smoke and mirror politics that got the country here in the first place. So BLP stalwarts with and upcoming election on the horizon tell me what better solutions does the BLP have to offer other than criticism. Personnaly i don’t think they have any.

  19. UNEDUCATED Avatar
    UNEDUCATED

    @David

    My preference is for the DLP, i agree that stuart has not come to fhe front as a leader, but i dont agree that he should have called elections. he needs to show that he is a leader, that laid back approach does not appeal to Barbadians and hence if he does not change his style and show that he ahs some balls i can see his demise.

    @Adrian

    I would like to have the infromation on the Hilton Hotel, the amount that was invested in it and where did the funds come from, also its ROI over the years, the same infor is required for gems.

  20. Adrian Loveridge Avatar
    Adrian Loveridge

    I firmly believe that ALL statutory corporations should be legally bound to publish their audited accounts within six months of the financial year ending.
    This is taxpayers monies and not the personal savings of any Minister of Government.

  21. UNEDUCATED Avatar
    UNEDUCATED

    @Miller

    as a poor person, i do not expect any subsidy, the next thing you would want subsidy on breathing, you undeucated worm. With my blinkers i can still see the wole picture, forget me responsd to poor class and businessman.

    Time longer than twine that is another one for you to see if you know the meaning. The govt action was a corrective measure. Economics about reality, not theory so come again, but you might not have anything in the tank and your braim might be too small to understand the arguments poor class presented.

  22. lemuel Avatar
    lemuel

    To Poor Class and Ueducated:
    Please do not dirty your colors because of me. When the DLP loses in about 6-8 months time, your analysis shall still be welcomed here on this blog, but alas it would be from a position of the “opposition”. I know that i have not been far in school, so do not fluster because of me. Stare the loss in the next general election full in the face and then come back down to earth and see if there is any thing you can do to save this sinking DLP political boat.

  23. UNEDUCATED Avatar
    UNEDUCATED

    @Lemuel

    Time longer than twine. Figure that out.

  24. UNEDUCATED Avatar
    UNEDUCATED

    @Adrian

    all statutory corps are rquired to present their accounts, methink within 3 or six monts after their fy. It fhe managers were halued before the cold for not doing so we might see an improvement, them again arnt these managers political apointed.

  25. Porter Avatar
    Porter

    I dont think that Stuart will change his style
    What Peter said is true. Going down under , spending money and not reporting to the people is a bad indicator. Stuart must understand that if he leads the party into general elections, the DLP will lose.
    Members of the DLP will move Stuart

  26. millertheanunnaki Avatar
    millertheanunnaki

    @ UNEDUCATED | December 1, 2011 at 8:03 AM |
    “as a poor person, I do not expect any subsidy, the next thing you would want subsidy on breathing, you “uneducated” worm. ”

    You go tell that to “Poor class”! He or she (like you) is the one who is into the class and social division issue! Not me!
    But as far as my being an “uneducated worm” I have now joined the class you have been in for the last 4 years and I plan to sit next to you and copy from you.
    But here is an idea to help the poor man (hope you are reading, poor man) with the increased cost of bottled gas. You should be aware- since you are a bookworm (it takes one to know one, you know!) with a wealth of knowledge- that the price of domestic natural gas piped to local consumers have not increased in any noticeable rate (VAT excluded of course) when compared with the bottled gas. As a widely read student of economics (so you pretend to be) don’t you think this represents a serious distortion in the market pricing mechanism that you so ardently defend? Is this not a clear case of a very “un-level” playing field?
    A similar situation exists between the delivery cost of petroleum products to local businesses (e.g. manufacturers) and domestic consumers in T&T when compared to the other CSME partners. Do you understand why T&T is able to dump its cheaper (and in some cases inferior) goods and services on the Barbados market whose producers are way out to sea in very “fishy waters” and overburdened by very high energy costs imported from the same CSME T&T market?
    Why not increase the cost of locally produced and supplied natural gas to bring it in line with the imported bottled gas. Some of the additional revenue can be used to offset the reduced taxes on the poor man bottled gas which this administration for the same poor man can consider as a token of dealing with the high cost of living especially for the poor.
    Yes, a little subsidy on breathing would be helpful not only to me but also to the growing number of young asthmatics overcrowding the A&E at the QEH.
    Check the quality of the fuels imported for use in vehicles. Also, enforce the provisions of the clean air regulations and get some of those public service vehicles to comply. Such a move would add credence to your oft touted greening economy propaganda even with the cutting down of trees that will reduce the amount of oxygen available for the poor man like me to breathe.

    Now, if you can come up with ideas and “imaginative” proposals like those just outlined and stop the personal attacks and vindictiveness maybe the rest of the BU family might start seeing you and your fellow apologists for your party’s inertia and blatant incompetence in a different light.

    PS: I am willing to help in the national interest but you must stop the personal attacks!

  27. Business man Avatar
    Business man

    If this blog was serious about taking forward national development at this time, instead of calling the political horse race, thyen the Smart energy Fund should be occupying our attention.

    I am learning as I listen The Central Bank governor said it was important that the alternative energy drive be funded with an inflow of foreign exchange so that its not a drag on reserves initially. I did not think of that, and I am happy that the people in charge are looking at all kinda angles as they manage the economy.

    So the fund although promised in the DLP manifesto has taken some time as they have gone through the IADB process. Instead of looking at the fund and how we can move forward, Miller wants to show how clever he is and that the DLP lacks ideas.

    Barbados now has a cutting edge alternative energy initiative along with the incentives passed over the years and we are talking aout government inerta.

    Lawd help us. My business will make us of this fund.

  28. Poor Class Avatar
    Poor Class

    Check health care. Everyone wants QEH improved, but to get improvements doctors have to be managed. Doctors have run the hospital to date and no one who dares challenge them and thier dominance can survive in Barbados. They are another elite group who vex vex at the attempts of this government to reform the QEH. This CEO and Minister is about the best I have seen but the doctors, who are the creme de la creme of our society will win this one as well.

    Owen wants private health care funded by tax subsidies. So pay at the point of delivery and then claim a tax refund. Who does that work for, not the middle and upper class.? How does that work for the poor class like me. The recipe for a middle and upper class and a poor class type health care. The middle and upper class do not want to ingle with any poor class at any general government hospital, butt hey want the government o subsidize their health care though.

    The upper and middle classes in Bim have forgotten the rest of us. they shape public opinion in many ways and will dominate.

    Class warfare people, the DLP will definitely lose the next election. Forget the crap about the economy, the wrong people have been offended by many of the policies.

    Class warfare people, the message is clear, keep the middle and upper class perks intact and send home the public servants. And you cannot have a man who is the epitomy of uppity Poor Class in the PM office. Not another ugly black man. hell no.

  29. millertheanunnaki Avatar
    millertheanunnaki

    Business man | December 1, 2011 at 10:47 AM |
    “So the fund although promised in the DLP manifesto has taken some time as they have gone through the IADB process.”

    This fund was already designed by the technocrats a long time ago and sleeping on the minister’s table for a long time. So don’t try to make it look as if this is something new to the Ministry!
    But better late than never and we are thankful for every progressive action.

    But what we would also like to see and which does not involved foreign exchange funding is the FoI and Integrity legislation. More than a 1,000 days and counting! As a business man, won’t you say that something due within 100 days is way overdue when over 1,000 days of promises have elapsed?
    Even an “uneducated” Jack or Reginald can figure that one out!

  30. wizard Avatar
    wizard

    millertheanunnaki | December 1, 2011 at 11:23 AM |
    But what we would also like to see and which does not involved foreign exchange funding is the FoI and Integrity legislation. More than a 1,000 days and counting! As a business man, won’t you say that something due within 100 days is way overdue when over 1,000 days of promises have elapsed?
    Even an “uneducated” Jack or Reginald can figure that one out!
    ————————————————————————–
    If you are going to make a STINK about the promised FOI / Integrity Legislation……..What about Owen Arthur’s promised REPUBLIC of 1999 ?
    Can you remind us how many days this promise remains unfulffilled ?

    BLP jokers like you !

  31. Business man Avatar
    Business man

    miller I have been in touch with the Enterprise growth fund up to this morning. This fund is brand new, it was not some idea sitting on technocrats’ desk from the last administration. But frankly I don’t care when it came from. I care that it is now here and we can now move forward in terms of energy independence. You seem to care about that aspect only, and your intent is so clear the DLP must get no credit for anything, and any and everything wrong in BIM is due to this administartion.

    Don’t scream you will win the next election. Just take it easy.

  32. Business man Avatar
    Business man

    IU don’t know about all this leader thing. Stuart has brought calm and decency to the office at a difficult time. To the best of my knowledge, he is the first PM to come to office without the barrage of hangers ons (hartley henry, Shorey) to whom he is indebted. So i feel the treasury okay with Stuart there.

    The media has a preference for a different kind of leader.

  33. Business man Avatar
    Business man

    I think justice would be done if a decent man like Stuart were to pass Integrity legislation and Freedom of Information.

  34. Business man Avatar
    Business man

    I don’t know about you all, honesty and decency are critical factors in a leader for me. Stuart wins those hands down for me. So I don’t share your views on leadership. I have had my fill of sharks.

  35. Business man Avatar
    Business man

    The good thing about this most recent discussion is that we are flushing out the partisans pretending to be disinterested bloggers.

    Don’t be afraid people, show your colours and then we can talk.

  36. Business man Avatar
    Business man

    Anthony, Miller and Lemuel are especially dangerous as they had me fooled before this thread. At a minimum they are unable to give the DLP credit for anything.

  37. millertheanunnaki Avatar
    millertheanunnaki

    @ wizard | December 1, 2011 at 11:30 AM |

    I am not a magician so I can’t live in the pass like you! I am concerned about the promises made by this current administration to improve our current and future lives.
    What you are telling us is that both parties are a bunch of hypocrites and liars. So the damned lying party jokers are currently performing trying to impress us the gullible that they can “out-lie” the previous blasted lying party who was booed off stage through the promises of bigger lies.
    Not only will the fair-minded people make a stink about it but we will use a magic wand to put our “X” to mark the spot for the other set of rested liars to perform before we move the circus elsewhere or invite a new set of untainted performers to join.

  38. Business man Avatar
    Business man

    Caswell raised questions about the viability of the fund. Should he not respond to the Consultant Actuary who should be well placed to comment on the health of the fund.

  39. millertheanunnaki Avatar
    millertheanunnaki

    @ Business man | December 1, 2011 at 11:59 AM |

    Stuart is also my preferred choice of PM at this stage! Surprised!
    But what I would like to see him do is to keep his eyes wide open. There are many, inside and outside, who don’t have any love for him because he is “clean”, so far. But he needs trusted people next to him. We hope you are one of his trusted lieutenants that he can use to “hunt” down and expose his under-miners. Although he is not comfortable with numbers and the hard side of public finance and business he should ensure that all new contracts and payments to “irregular service providers” over $200,000 are examined and given the OK by him.
    Let him pass the FoI and Integrity very early in the New Year and he has my electoral support along with many other fair minded people, even those stridently accused of being BLP supporters.

  40. Artaxerxes Avatar
    Artaxerxes

    @ Poor Class/uneducated/business man
    What you guys need to do is to stop all this class foolish talk and face reality. Understand that Barbados is a mixed economy, which is controlled by the government and the private sector. Under this system, the factors of production are ultimately owned and controlled by the private sector. The government’s role is to control the economy through fiscal and monetary policies, which are designed to counter the events of the business cycle in the case of an economic downturn; and to finance SOCIAL WELFARE PROGRAMS (summer camps, free secondary education, etc), WHICH IS THE DUTY OF ANY GOVERNMENT IN POWER. The poor class owns their labour and a vote, which they sell to the capitalist and politician respectively. The politician will tell you that he loves poor people and demonstrates this by introducing social welfare programs, WHICH ARE ACTUALLY YOUR RIGHT TO RECEIVE. But truth be told, these programs are not original, rather they are based off models that exists in other countries; e.g. free education.

    With this in mind, recall that the government has to rely on the private sector for economic growth, and does so by implementing policies that would seek to enhance such growth. The politicians also rely on the private sector for campaign funds, which they spend on the poor classes to solicit their votes. All “Poor Class” and “uneducated” have is a vote, which will be needed EVERY FIVE YEARS. The private sector has the funds that the politicians need EVERY DAY. Tell me who the DLP and BLP love the most between the poor man and the private sector, when both parties are NON-PROFIT organizations and depend on the “elites” for money.

  41. David Avatar
    David

    @ Artaxerxes

    What kind of growth are you thinking about?

    Do you mean in construction and the distributive sectors?

  42. David Avatar
    David

    What is the worth of the opinion of an actuary in determining the quality of the Four Seasons investment? Is this the role of an actuary?

  43. anthony Avatar
    anthony

    Well maybe they wish from much more billable hours. determine the worth of government bonds /debentures take way less time that actually finding the current worth of four seasons and future worth seeing if it probably that it generate profit this year or not.

  44. Alien Avatar
    Alien

    Actuaries produce estimates, using directly and indirectly related historical and current data, with associated confidence levels. An expected (50% confidence) estimate should be correct 50% of the time, but unlikely to be correct 50% of the time. An estimate with 75% confidence should be correct 75% of the time, but unlikely to be 25% of the time. If the actuary’s expected (50% confidence) outcome is that it will be a successful investment, it has a 50% chance of success. This assumes that the underlying parameters used in the estimate were in fact the parameters that influence the outcome of such a project. Of course, using incorrect data or parameters will result in bad estimates.

  45. Artaxerxes Avatar
    Artaxerxes

    @ David BU

    Economic growth in the context that government guides the overall pace of economic activity, in an attempt to maintain steady growth, high levels of employment, and price stability. By adjusting spending and tax rates (fiscal policy) or managing the money supply and controlling the use of credit (monetary policy), it can slow down or speed up the economy’s rate of growth in the process, affecting the level of prices and employment. This comes as a result of government policy and not the business sector.
    Barbadians have always believed that some services are better performed by public rather than private enterprise. For instance, the government is primarily responsible for the administration of justice, education, the road system, social services, and national defense.

  46. David Avatar
    David

    @Artaxerxes

    Thanks, can you go on and suggest how given the current economic realities – how would public fiscal policy correlate with managing the international reserves.

  47. Clone Avatar
    Clone

    You are correct about Anthony, lemuel and millertheanunnaki . They have all exposed their biases to get Owen Arthur back as Prime Minister.
    They make all kinds of insinuations but the Prime Minister and his Government is holding a steady ship from running aground as they predicted from January 2008.
    Barbados has now moved to the highest it ever was on the Corruption index which is 16th with 7.8 while it was 6.6 under Owen. This can correlate that under Stuart there is a lower perception about corruption in the country.
    Keep it up Mr. Pm

  48. Artaxerxes Avatar
    Artaxerxes

    @ David BU

    Prior to the recession, Barbados had a fast-growing economy, which tends to lead to a net outflow of money from the circular flow. Conversely, during a slowdown or a recession, as we are now experiencing, the government normally ends up running a larger budget deficit. Implementing certain social policies at the onset of the recession was one of the reasons that caused the deficit to increase.

    A higher level of public debt implies that a larger share of the island’s resources is permanently being spent servicing the debt. This means that a government intent on maintaining a given level of public services and transfers must raise taxes as the debt increases.

    Taxes distort resource allocation, and can lead to lower levels of growth. Given the level of taxes, one has to wonder if further increases will actually raise revenue. The distortionary impact of taxes is normally further compounded by the crowding-out of productive private capital. In an open economy, such as Barbados, international financial markets can moderate these effects so long as investors remain confident in a country’s ability to repay [this could be one reason why there has no haste to invest in the Four Seasons project]. But, even when private capital is not crowded out, larger borrowing from abroad means that domestic income is reduced by interest paid to foreigners, increasing the gap between GDP and GNP.

  49. millertheanunnaki Avatar
    millertheanunnaki

    @ Clone | December 1, 2011 at 6:53 PM |
    We are not amused!
    Have you read my post regarding PM Stuart? I call him Mr. Clean!
    Check my: millertheanunnaki | December 1, 2011 at 12:31 PM |
    @ Business man | December 1, 2011 at 11:59 AM |
    “Stuart is also my preferred choice of PM at this stage! Surprised!
    But what I would like to see him do is to keep his eyes wide open. There are many, inside and outside, who don’t have any love for him because he is “clean”, so far.”

    So apologise! Compensate by going and helping stop one of the trees that hold the spirits of our slave ancestors from being chopped down by your environmental terrorist friends!

  50. millertheanunnaki Avatar
    millertheanunnaki

    @ Artaxerxes | December 1, 2011 at 7:29 PM |

    Barbados’ biggest problem is maintaining a consistently healthy level of “real’ foreign reserves to finance and service its large consumer import bills, foreign debts commitments, and FDI profit and capital repatriations.
    The other local macroeconomic problems can be fixed or kept to an acceptable level by competent and effective management both at the political and technocratic levels.

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