@ marlo ray!

just what i thought you had in mind. so expected! any who ever you are the winds of gloom and doom are whimpering in the wind. just remember this economy has come a long way from almost toppling over to surely making its way back up to the top. there is more good news in store feast on those things .

Like Marlo above … this entire submission is not worth a comment … but 🙂

“Sell crazy somewhere else” … The bajan public is HIP to the sh)te coming for Mr. Worrell every now and again … He is part of our national problem and need to go like the current cast of clowns we have in the DLP leadership lead by fooly fooly .. again “please sell crazy somewhere else” ….. the bajan public is not buying sh)te these days like in 2008 ….

it seems like good news these days makes people crazy .it is what itisssssssssssssss .get used to it .!

AC when exactly does your spacecraft leave for mars … ? we cant wait to stop hearing your sht)e on BU ….

Austin sounding desperate – Poor fella- the economy just would not collapse in the face of the worst global recession in our lifetime- hmmm
Reserves still adequate, public servants still employed,health care and education, housing, international business taxes reduced, income taxes coming down, Barbados leading the Caribbean in alternative energy initiatives-
this economy just wlould not collapse.

Biggest trading partners in recession or growing slowly but teh Barbados economy just would not collapse.

I have never seen a set of more pitiful BLP yardfowls preaching gloom and doom and rejoicing at any news that might be negative.

Go Team Barbados! The economy is not collapsing even though it is some people’s political interest to say so.

@Onions

You are aware that in the economic boom years the Barbados economy grew 3+%?

ok, quick genuine question, no partisan politics if possible.
If the strategy of “holding” disposable income from the people is to keep foreign reserves steady, and, we are indeed as is claimed meeting the MTFS targets using this strategy..why have foreign reserves fallen since December?

Also, why did Worrell have to use the phrase “no lower than the amount recorded at the end of 2008?”

just observing

I have no problem with Good News Lord knows we need it as a nation … However DLP Lies, Distortions of Facts, Political Gamery of Public Resources, Lack of effective Leadership & Governance, Under-performing ministries, Lack of Innovative Thinking etc etc etc and I can go on on on …..
These are the things folks like me have problem with … We not drinking that KOOLAID the DLP serving it too sweet” …

Is the government waiting for the pot to burn before putting measures in place to stem the flow of forex? This is like knowing that the tidal wave is coming but doing nothing to get to higher ground where you could stand a chance of survival. It seems this government is on a suicidal mission.

What good news?
FOREX fell at the time of the year (tourism season) when it is expected to grow and the likes of ac crowing? The first half of the year is also supposed to be the strongest and with 0.6% growth to June we are looking at another < 0.5% for this year.
Our strongest tourism markets are down a combined 14% while we brag about a 35% increase in Trini arrivals, but Redjet is now history, spend and occupancy levels down, which tells you that the increase in Trinis did little as the people staying at friends and family and spending nothing. Unemployment has also jumped to 11.8% (who recalls Sinckler bragging during his Estimates presentation?)

@david
That’s what worries me. If both strategic chlices are poison, the debate over which chalice is right or wrong becomes puerile. The question to be asked then is who is better positioned to give us a reasonable balance of poison and antidote…the fact that the external markets which we are hinging on show zero signs of significant growth should also be a source of worry.

Just. Observing

The Governor is truly political too.
On one hand he is saying that the reserves fell and need to be protected, but must add the current amount is no lower than at the end of 2008. He says dampen demand but the Budget just released $30m+ in tax relief (according to Sinckler) and a big push for RE that relies on heavy importation. He further says that the recent Budget was “designed to boost foreign earnings” and there’s the possibility of $100m in private capital inflows. Simply too much double speak.
This is all a ploy to take aim at the Bees suggestion to use FOREX to help spur economic growth.

@ David | July 10, 2012 at 9:14 AM |

Then Barbados is caught between a domestic stimulation rock and a forex hard place. The economic downward spiral is in full motion and nothing can save it but rock bottom. Government revenues depend heavily on VAT which in turn depends on high domestic demand which in turn depends on increasing or stable foreign reserves. The only way out is to increase foreign income which we all know is drying up by the day. Loss of foreign revenue from reducing tourist spend, fall off in international business, drying up of FDI and reduced remittances from the Bajan Diaspora do not paint a rosy picture for Barbados foreign reserves. With these growing fears one can expect an increased flight of financial capital from Bim to reduce risk exposure starting with the repatriation of retained profits and management fees by the banks.

Poor Austin, your feelings were hurt. Listen, the Central Bank report clearly shows that the promises that the BLP are throwing at people to get votes are wild, reckless and not suited to this situation.
How could you talk about letting people spend wild when this economy is so dependent on foreign exchange. If the tourists are not spending and the inflows are not flowing because of recessionary conditions in your source markets, you cannot embark on some expansive fiscal policy unless you balance it by major expenditure cuts (sending home a few thousand government workers) and that will also depress aggregate demand.
In this context any politician who is promising subsidies,and this fund and that fund as Mottley did without identifying where the cuts will come from is trying to fool the public.

I find it very very hard to believe that this economy has grown. I speak to senior people in most distribution companies in Barbados almost and all are saying business is really, really bad. Layoffs are pending at several retail companies unless consumer spending is resurrected in the next few weeks. Tourism will continue to fall because of the high cost of living as government continues to shoot itself in the foot which this ridiculous tax regime. You cannot buy everything duty free, when you leave the hotel you must eat who wants to pay $7-10 U.S for a snack box and a drink when you can get a 6 piece family meal for that in the US. Politicians make too much money they are absolutely out of touch with the commmon man.

While I have a reservation about such a “key figure” as the governor of the Central Bank saying exactly the same thing as or endorsing the Minister of Finance shows me that their is not a level of independence I would wish when considering the B’dos economy. Any one ever notices tho how the Governor looks like Kermit the Frog in an over-sized jacket? Just wondering, it sends a message of a puppet and his strings being controlled. That’s just me..hahahaha

Look, Growth is a shite concept, one that is forced down the throats of WestMinister trained academics. It is designed to promote blatant consumerism which is of course at the core of the capitalist agenda. For a country that views itself as developing there are far more standards out there to be bench marked against.

@David | July 10, 2012 at 4:34 PM |

And that is why we must aggressively pursue alternative energy solutions where ever possible and push for a more affordable locally focused culinary mix. The same way the propaganda agents (marketers and advertisers) can sell alcohol, cigarettes and foreign food and consumer products why not employ them to promote the benefits of home grown ‘organic’ foods and other products;
which is a fast growing business in the USA, UK and Europe. A similar effort can be made in respect of the use of local herbs and plants instead of synthetic pharmaceuticals thereby stimulating micro businesses aka ‘cottage industries”.
Government must be really serious about renewable energy and stop pussyfooting. Announcing green sweet talk in the Budget is not enough. Let us see some real action on the ground starting with the government vehicles and buildings. Each school should have a set of” green” targets which should go towards the students’ assessment for progression to higher learning.
What sayest thee, David?

@Crabbie
There is no independence.. Not even an attempt to present an appearance of one.

@ David
I aint in the BLP lol. But couldn’t spending some money on our hotel plant create construction and multiplier jobs while improving our product leading to a more competitive industry? Growth, jobs and +-Forex vs no growth, no jobs and -FOREX.

@miller

Will try to find out.

Now tell me has Four Seasons.been sold to Butch Steward or Bejorkin ?
These are things we need to know……why how much money just been injected by the NIS funds……Oh by the way…. we also have a Trini Nat Gas pipe line coming …more money to draw from the NIS Fund..

The only one left to buck in the Sh#…is we the people…back broad..while we FLY…..Budget said it all…..waana shut to F up…. its all about ….We politician….two pensions included…..

@Onions

Who on the Hill should we listen?

Did you hear Dr. Frank Alleyne as well on the need to protect our import cover?

Sometimes it appears to John Citizen more about who is winning the narrative on the issue of the economy.