I hope that the policy makers in our region are paying close attention the struggles being experienced by the EU. We can see clearly that the political directorate plays are huge role in the economic union, and that the austerity measures agreed to by one party may not be adhered to by another.
Think that there are all important lessons and that we can learn as our region tries to move towards unity with the CSME.

Financial issues do not give the same ‘thrills’ as politics and some other topics. Despite the fact that what is going on will affect us in one way or the other we are content in our little bubbles…
That is until we feel it personally either when we try to get a loan, or at the gas pumps or in the supermarket.

@Bush Tea

If BU can be used as a barometer to measure the mood of the country on the many issues at play then the lack of debate on how we defend and grow our little country is very much lacking. Our intelligence can be therefore challenged as a people.

In face the Barbados position can be extrapolate across the Caribbean.

Interesting article:
What austerity looks like around the world
Posted by Brad Plumer at 11:40 AM ET, 05/22/2012
We’ve noted before that most countries in Europe are engaged in “austerity” — defined as some mix of spending cuts and tax increases. But what’s the actual mix?
Here’s a helpful graph from the OECD’s latest Economic Outlook. It shows the projected change in the “primary balance” of the world’s wealthiest countries between 2011 and 2013. (This is the budget after accounting for the effects of economic growth — after all, if there’s a recession and tax receipts go down as a result, we don’t want to count that as a “tax cut.”)

Some countries, like Italy, are relying heavily on tax increases. Others, like Spain and Greece, are relying far more heavily on spending cuts:

(And yes, these forecasts could prove wrong. The OECD, for instance, expects that the United States will improve its primary balance through a balanced mix of spending cuts and tax increases in the next year — but that assumes that Congress will let all of the various tax cuts expire at the end of 2012, which is far from certain.)
Some economic commentators like Paul Krugman and Martin Wolf have argued that Europe in particular is relying too heavily on austerity, period. They argue that attempts to tighten the budget during an economic slump will only hurt growth, which in turn makes it even harder for these countries to rein in their debt. Indeed, the OECD predicts that Europe’s economy will contract by 0.1 percent this year.
Some conservatives, by contrast, have recently started arguing that it’s not austerity per se that’s the problem — it’s the type of austerity. In the National Review, Veronique de Rugy argues that many European countries are relying too heavily on tax increases to rein in their deficits. (This mainly seems to describe Austria, Italy, Belgium, and the Netherlands — the rest are leaning more heavily on cuts.) She cites a few economists, including Scott Sumner, who argue that spending cuts combined with more stimulus from Europe’s Central Bank is the way to go.
There aren’t many countries around, the world that have pursued this route, however. Sweden stands out as one country that has cut spending a bit while enjoying a big monetary stimulus from the Riksbank. By contrast, there are plenty of euro zone countries that are leaning very heavily on cuts — especially Spain, Portugal, Greece, and Ireland, the most troubled nations. They’re not faring much better, growth wise, than euro zone countries relying largely on tax increases to curb deficits. On the other hand, none of these countries are getting a big boost from Europe’s central bank, so perhaps that’s the relevant variable here.

@ David
“if BU can be used as a barometer…”
*****************
From Bushie’s experience, BU is not a good barometer since BU is generally more balanced, constructive and relevant than most other fora. (with the obvious exception of old onions of course 🙂 )
Herein lies the tragedy.

When BU contributors can ignore the urgent need to analyse the real and present dangers facing us from dangerous global threats and concentrate instead on comparitively petty distractions such as regionalization and local party politics….what hope do we have of being prepared for the storms to come…?

@ Onions
Continue to have your fun. Best wishes in recovering your CLICO funds.
Bushie understands that it may be asking too much of you to delve into such complex matters as global recession, economic collapse, or a breakdown in society as we know it…
You remind us of the fellows who, after the mortal damage to the Titanic, with water rushing in below deck, ascended to the upper deck to party…

Moral of that story- after putting a big hole in the economy of the ship of state, you and your party friends now fighting to get to the top of the heap….which is on its way to the bottom…..but all you are doing is getting yourself further and further from the lifeboats. 🙂

@Bush Tea

BU commenters from where we sit have shown little interest in the above matter but as you have opined the CADRES blog continues to attract high interest.

We do like the Nation and give the people what they want or continue to push what we know to be critical issues?

@ David
I think that until the Caribbean electorate start to look beyond partisan politics and start to ask pertinent questions and weigh what is being said, politicians will not inspire anything.
Like a wise man once said ‘ we get the government we deserve’. If malls and cable companies satisfy us. That is what we will get…

@ David
I am not saying that we can not produce leaders. I am saying that if we do not expect certain things from our leaders or pay attention to what is going on around us, then we will not progress.

David wrote “The bottomline is that our island economies are not generating sectors which drive real growth. ”

Maybe BU commenters can take a break from politics and help identify these sectors.

@fragile

A serious indictment because if we look at the Singapore Model which is touted by leaders in our region it was led by one man.

We come back to leadership.

@ David & fragile
Good leadership and being re-elected are not necessarily mutually exclusive. The problem is that good leadership requires the kind of wisdom needed to bring the masses along with the leader’s vision and goals.
The kind of potential leaders who possess this level of vision and wisdom are not by default, particularly interested in leading a bunch of sheep to any paradise.
…on the contrary, boldface idiots who see mainly opportunities to enrich themselves BEG, fight and kill for such ‘leadership’ status….to the detriment of the people.
it would therefore require a level of wisdom among the PEOPLE in the first place in seeking out and installing the leaders that we NEED rather than the parasites that seek to impose themselves on us.

This is a catch 22 situation, and it explains why we are going in ever meaningless circles.

@ Bushtea
I see your point.Not sure the sheep would necessary recognise or appreciate the qualities in a ‘good’ potential leader though…We like what we get, that’s why we keep on getting it.

@bushie
I agree with everything you’re saying but I’ve long accepted that enough people won’t(can’t) understand themselves far less what you’re advocating.

Added to that the “modern day mental massas” who desire the status quo, separation and political-religious hierarchy to remain. The type of leader you describe and I believe in is a rarity. To find one with the will and strength to die (figuratively, politically or literally) for the upliftment of man and spirit and thus country is an almost impossible task.

People enjoy being led. Being told what they need. Being shown what’s better for them. Its an unfortunate human condition but it is what it is. The matrix shall continue to exist until a Morpheus believes and a Neo arises. Even then, it would most likely be a return to the beginning of the cycle.

One day coming…not sure how soon though.

@all
Great discourse on this thread. Makes for stimulating reading. Keep the flames of thought burning.

@ David,

Yes I would say our general disinterest, is the link here. We accept what we get. Not sure how bullish one could be on some of these irresponsive/inefficient regional markets though.

Look at the facebook IPO for instance. It fascinates me how investors quickly decided that the too many stocks were sold and started to pull out, even if at a loss. The stock price then went below the initial offering price.

We need to be discerning and stop accepting what is handed down as if leaders and or decision makers are infallible. The regional stock markets and the politicians need a jolt for them to work for US.

Ok fair enough. Just saying that our markets do not operate in a way for investors to be bullish. If you buy stocks in some companies you may have to consider yourself to be stuck with them…
That is not enticing

Why are we still talking about recession? DEPRESSION should be the key word.

@ David

As you mention Almond. Has any press release been sent out to inform the shareholders of what is going on?

How significant is significant David?

http://www.cwc.com/assets/uploads/files/PressRelease%20Financial/2012/Press-release-FY1112-240512-FINAL.pdf

@Crusoe

One has to be repetitive until we hit the g-spot.

@ MME
Bushie got 5 minds not to speak to you yuh know…. 🙂
….seems that ever since that Gulf oil spill scenario when BP finally got around to implementing the solution offered by the Bushman from the very beginning (and which was scorned by you 🙂 ) you have been dissing the BU family…
Anyway – good to hear you.
….now back to the matter at hand….

What close what forepeak scuttle hatch what?

Bushie was trying to get that message out now since the inception of BU and even before….
A serious national attempt to invoke some degree of righteousness (honesty, fairness, justice, love, ….) would have represented a closure of that hatch.
Putting some serious patchwork on the crooked political, justice, economic and religious systems to stem the greed and wickedness would have fothered the leak….
…and we may well not have sunk… or at least we may have survived until the rescue ship arrived.

ALAS, no one heeded the advice, and even YOU ran off dancing to the tune of a different drummer (or is it violinist…)
Now the water is at the bridge and the bow is below the water….

….dont try and find a lifeboat…or prepare to hold your breath for a few months.