While Ministers Sealy and Sinckler were delivering a press conference at government headquarters which lacked the content to give hope to Barbadians, Standard & Poor’s posted that it had revised Barbados’ outlook to Negative from Stable. Bottomline, all economic KPIs continue to trend south under the management of Minister Chris Sinckler.
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FROM ONE BLUNDER TO ANOTHER. CRISIS, CRISIS, CRISIS. lORD HELP US.
@ David
This seem like a real colony. We have to wait for discredited rating agencies to tell us what to do. They are citing debt service ratios when nearly all the Euro zone countries and even the USA have sovereign debts that are in excess of 100% of GDP – a technical state of bankruptcy. What a contradiction. As you know we feel the country should turn its back on this model. In any event, where would this end? THE CENTRE CANNOT HOLD.
@Pacha
You are correct that these corrupt credit agencies continue to rule the world. Investors still look to the rating agencies to fix price and or determine if to do business. How ironic when they are responsible for much of the mess given the bogus ratings to securities and sovereigns pre-2008..
Could it be that this hastily called press meeting was to buffer the news of Barbados’ negative report from S&P?
Exactly, june boy. My first thoughts when i heard he was having a Press conference was why. With a budget soon due, what major announcement he had that could not wait, we nearly over the fiscal cliff. Now we know, another downgrade in we tail. Well done, Stinkliar.
This was expected. Poor Bim! Another load of DLP cover-up lying shit to hit the international confidence fan. Loss of confidence by the local business community, hoarding of foreign exchange by private citizens, utter confusion and obfuscated doubletalk by so-called competent and trusted economic advisors and now this additional twist of the financial dagger in the back of an already weak country.
Come on ac, CCC and the usual suspects, get out your brass bowl cussing bull horns and take a turn in poor S&P. Ease up on the miller, Prodigal and Adrian.
Moody’s will soon be downgrading this badly managed country declaring it on the verge of bankruptcy.
The Cabinet knew what was coming from S&P and instead of our PM coming (as a real leader should) to the people and explain the difficulties this rating will have on our reputation in international financial circles (very few suppliers will grant short-term credit to Bim, payment in advance will be demanded) he sent the most stupidly incompetent lying disgraced buffoon passing as a minister of Finance and the most ineffaceably ineffably ineffectual Minister of Tourism ever to take the flack.
How can we trust what these guys are saying given their track record with respect to Four Seasons and the dismally failed MTFS projects?
@ David
We are within the belly of the beast. What most people don’t know is that the same financial shenanigans that brought down the system, circa 2009, are still in operation today and have grown much, much larger – derivatives. Just a matter of time before financial Armageddon. We have to be in real bad state for governments everywhere to be bringing their people, like sheeple, to the altar of rating agencies.
why don;’t you buy the book it only cost 175 dollars of past information from 2011,
Here is the meat of the report (link provided in blog)
Barbados’ economic fundamentals continue to weaken, reflecting not only the
tough global economy, but also competitiveness and other structural
shortcomings. Barbados’ narrow and open economy continues to suffer from the
2008 global financial crisis. Results for the first half of 2013 show that
Barbados has fallen back into recession after a very weak recovery in
2010-2012, with average annual real GDP growth of just 0.4% in those years. We
expect a real GDP decline of about 0.5% in 2013 and a slow recovery in
2014-2015 thanks to tourism and construction (in both the private and public
sectors). With a slow recovery, unemployment will likely remain high, after
reaching 11.8% in 2012.
And Minister Sinckler next time state your sources because no where on BU have the statements you alleged have been promoted by ‘blogs’ appear on BU. Yes we know other blogs exist but somehow we feel like you are using the generic ‘blogs’ to deflect which has become a tired rumshop strategy.
david why you so sound so angry?
@ David | July 18, 2013 at 7:30 PM |
You are right to contend that the rating agencies leave much to be desired as far as their competence and indeed integrity with regard to recent events in the international financial circles are concerned.
However Barbados is a very small country with no natural internationally tradable resources or commodities in great demand.
We must therefore live by our wits and fully and effectively exploit the human capital within.
We are not being very smart in dealing with these international con artists and bailiffs for loan sharks. Why put our hands in the lion’s mouth in the first place. We could have done much better than what we are talking about doing now.
We must take much of the blame through our very piss poor management of the scarce financial and human resources we had to work with.
But as the old people used to say “Sweet life is not long life”.
Time to pay the piper or to use a different analogy: The drug lord has turned up for the dope we already smoked. Where is the money?
Our Father of Independence must be vomiting cuttlefish ink in his watery tomb to see his words come to pass:-
‘One day Bajans will wake up and find that Barbados no longer belongs to them.’
What prophetic words of warning, Jeremiah or no Jeremiah!
Just saw this on nation online. Is this a reasonable start to addressing some of the structural issues in the tourism and hospitality sector.
Unlike some of the others here I think we need nt wait on the budget for initiatives.
Tourism And Hospitality Sector Ten Point Plan.
Provide a Bds 10.0 million window for the retrofitting of air conditioning and lighting systems in the Tourism and Hospitality sector.This will be the first phase of the 150.0 million Energy Efficiency and Hotel refurbishment Fund. Further aspects of the fund will be rolled out over the coming months.
The existing 50 per cent land tax rebate for investment in Renewable Energy will be extended to Tourism and Hospitality entities that implement credible energy efficiency programs. These programmes will be assessed by the Division of Energy. This rebate will be provided under the renewable Energy Bill which will soon be laid in the House of Assembly.
For the next twelve (12) months Tourism and hospitality-related entities will be entitled to an electricity rebate of 5 5 of their electricity costs. Entities that implement a credible energy efficiency plan and/or investment in energy from renewable sources will enjoy the rebate on an on-going basis, while the rebate will end after twelve months for entities that do not make such investments.
For the next 12 months Tourism and Hospitality-related entities will be entitled to a rebate of 5 % of their water bills. Entities that have undertaken a credible water management programme will enjoy the rebate on an on-going basis, while the rebate will end after twelve months for those entities that do not make such investments.
The Ministry of Tourism will launch a programme to increase the number of Green Globe Certified Hotels and implement an international marketing strategy promoting Barbados as a “Sustainable Green” and “Clean Energy” destination.
Resources will be provided for the strengthening of “Events-based Tourism”
The Ministry of Tourism will partner with the Tourism and Hospitality-related entities to grant a credit voucher up to a specified amount in Barbados equivalent to the APD paid by British tourists who book for at least two (2) weeks with participating hotels. Further details on this initiative will be released shortly.
The Ministry of Tourism will partner with a number of private operators and launch a programme where villa type accommodation will be available for marketing as part of the room stock available in Barbados.
The Ministry of Tourism will partner with the Ministry of Culture community groups. Tourism and Hospitality related entities and other cultural practitioners to rebrand the Hastings to St Lawrence Gap Strip as a weekend 24 hour indigenous arts and craft and cultural performers market.
The Government of Barbados is engaging a variety of multilateral and private partners for the construction of a new hotel plant in Barbados and the re-building and re-opening of a number of derelict properties.
Electricity is a big cost, i see incentives for renewables and energy efficiency projects with some financing support as well.
We have to be in bad shape to bring in the Chinese who have developed a reputation for exploiting the resources of developing countries. And for US50 million? Yes BU is angry because we could have gotten serious about belt tightening 3 years ago. If many on BU say that global indicators which painted a picture of a protracted econmic slowdown why not the MoF and others in government? How long has the APD been in position? We now bring a response after many quarters of decline in the UK market? The MoT should not gloat about forward bookings, we are interested in ARRIVALS. And isn’t the Crop Over period a period when high occupancy is historically the case?
It is very clear to those of us who can think for ourselves that these DLP actors were advised that S&P was coming out with a further downgrade of the Barbados economy and they had to say something to save the coming onslaught of criticism they will get from tomorrow onwards.Ryan Straughan,Michael Howard,Owen Arthur,Clyde Mascoll,Anthony Wood,Tyrone Barker will be among those who will provide this country with their take on this development and what it means for the overburdened taxpayer.PM Stuart,MoF Sinckler,Jepther Ince, Darcy Boyce and Frank Alleyne will no doubt be sharpening their responses.
Seems to me the GOCB is breaking ranks with Frank as well as with Leroy Trotman.Recall I posited earlier that Barbados is now considered anti business with all the non sensical legislation like the Employees Rights Act,Holiday with Pay Act(its too generous)Severance Pay Act(too generous and encourages employees to sabotage the workplace and render the business unprofitable);
Dacosta Mannings were forced to close key parts of their operations like their Lumber Yards,Hardware Stores in Speightstown,Fontabelle,Pierhead because of rampant trade unionism in the workplace.Barclays Bank left Barbados because they could’nt trust their customers affairs to staff who felt their first loyalty was to the BWU.Don’t expect either the BLP or the DLP to face up to the Duke of York anytime soon. When foreign business refuse to invest in Barbados as ICBL says and agreed to by the GOCB because of BWU policies,the country will have itself to blame for allowing situations like what has taken place in France,Spain,Greece,Portugal,the UK and Ireland where workers have all the power and rights and employers are emasculated by government/union rules.
miller here is apiece of good news for you to chew on. no vat increase..
Wither the Democratic Labour Party
The Worst !
David I think at least the change in outlook was inevitable given the report for the first six months of the year.
sealy should have been pushed for an implementation schedule for what seem like some well thought out initiatives to push the sector into energy efficiency and enhance and extend the room stock.
Looking back is useless, we need to implement measures to address structural issues in key sectors and a strong package of fiscal consolidation.
There was nothing even close to a consensus for major austerity before now. I recall the outcry at the 2010 budget.
david don’t have a heart attack. No govt can control the financial obligations of any one person. We keep looking at other countries and comparing them. but no one knows how much they have given up in other sectors of their economies just to make one sector survive. it might appear that they are being successful . However barbados must have learnt by now that putting all your eggs in one basket cannot work. As of now the biggest slice of the pie is going to Tourism, Some how lost in all this economic debate is that there are other sectors in need of help, Only today the small business association was asking the govt”what about us” all the govt can do is put incentives in place that would generate enough pull towards their objective hopefully that would give forward movement in revitalizing and energizing growth to the specific entity. The govt right now has put more than enough effort in helping to revitalize the tourism industry.
DAVID@these corrupt credit agencies ? Its the Ministers and lawyer that got Barbados in this mess,The rating reflects the BLP /DLP behavior . Dam crooks, Like Pat Todd , he to have a deed on Baxters road where he did not even own where he live , Now a Minister and ex minister now he got deed ,
Where no one sold nothing to him , crooks still working their Magic ,
Begging at Violet Beckles back door for land his paycheck cant cash , But yet denied her her payments at the UDC.
You all did not see nothing yet , stay tuned
@Observer
Agree that looking back is useless except that is feeds into the confidence of lack of the population (private sector) will have in these people to implement measures efficiently. As you say even after waiting so long to hear government speak on Almond we have had not specifics on the numbers and mobilization plan. No damn respect!
Ac I agree . I look forward to some ten point plans for agriculture and manufacturing.
@ Observer | July 18, 2013 at 8:18 PM |
“Electricity is a big cost, i see incentives for renewables and energy efficiency projects with some financing support as well.”
You keep missing the salient point being made by the maligned critics of this administration. It is not the lack of attractively workable proposals but the absolute lack of will to implement these proposals in a timely fashion.
This administration is perniciously plagued by a syndrome called IDD (Implementation deficit Disorder).
All that is being proposed here have been proposed by both parties since 2008. Both manifestoes would confirm this position.
For instance this administration has promised over the last two years via Minister Darcy Boyce to have the Electricity Act amended to facilitate the much needed forward movement of the Renewable Energy (RE) programme. What have we to date to show? Nothing other than pieces of mainly inconsequential legislative amendments to secondary social issues instead of fast tracking this vital piece of legislation necessary for the economic salvation of Barbados and as a major player in saving forex to ward off any threats of devaluation.
Now here is what the draft White Paper on Tourism has to say:
There are several compelling arguments for the prioritization of the urgent transformation of the sector, which include the following:
• Tourism is the leading foreign exchange earner and contributes significantly to government revenues;
• Tourism is a major contributor to Gross Domestic Product;
• Tourism is an intensive and diverse employer supplying jobs in the professional, technical, craft, skilled, unskilled and operational areas;
• Tourism plays a major role in urban and rural development through investment;
• Tourism complements traditional industries and facilitates inter-sectoral linkages;
• Tourism distributes its benefits widely and plays a valuable role in national development and income distribution;
• Tourism promotes social interaction, peace, tolerance, harmony and cross cultural understanding;
• Tourism promotes cultural development at the community and national levels;
• Tourism ignites a sense of national pride and respect of culture and heritage;
• Tourism develops a country‘s image and supports all sectors of the economy as well as local communities; and
• Tourism brings social benefits to local communities, as facilities and income become available to local citizens and communities.
In spite of the current global challenges, the outlook for world tourism remains exceptionally strong. The UNWTO has forecast that the next twenty (20) years will be of continued growth for the sector. Therefore, this is an area that the Government will continue to prioritise and invest in as a central contributor to the island‘s future economic success.
To realise the sector‘s fullest potential, this Government has risen to the challenge of formulating a comprehensive strategy, together with the policy instruments, action plans and enabling investment environment that would support its implementation.”
Don’t’ you think it would have been wisely appropriate for the proposals mentioned in the ten point plan to boost tourism should have been implemented since those recommendations were made in the massively expensive White Paper?
Why wait on verge of another downgrade to bankruptcy status to do fire fighting? What about the Electricity Act? Why not treat it the same way the amendment to the appoint the CJ was treated?
What about Four Seasons?
Observer. the agriculture and manufacturing sectors does not have the same clout of as the tourism lobby. the tourism lobby are well financed and has lots of political power, in Reality they call the economic shots . in the meanwhile manufacturing and agriculture going to have to sit on the back burner always yielding and suffering in silence. .
I again make the point that the failure of Redjet was a failure of this inept DLP administration.Redjet was based in Barbados and could have become a worthwhile adjunct to our tourism product.Further,it would have afforded the SJPP ,the Community College to introduce and certify the many skills the airline industry requires such as Pilots,Flight Attendants,Caterers,Mechanics,
Engineers,Electricians,Fitters,Instructors,Trainers,Electronics and a host of
ancillary opportunities associated with the industry.Instead we were saddled with a rather lazy,unimpressive,dimwit for a minister who up to this day knows not what harm he has done to this country.Redjet would have been bringing
the Trinis,Guyanese,Grenadians,Lucians,Panamanians,and others to celebrate the Crop Over Festival.LIAT is managed in Antigua for the Antiguan Government.When some years ago,LIAT pilots preferred to be based in Barbados,the Antiguan Government closed down the Barbados Regional Office and moved everybody and everything back to Antigua.LIAT?Antigua!Always!
Once the very symbol of American industrial might, Detroit became the biggest U.S. city to file for bankruptcy Thursday,
http://www.cbc.ca/news/business/story/2013/07/18/detroit-bankruptcy.html
Gabriel
RedJet was a scam designed to taken millions from the Treasury of Barbados that would other have been used to subsidize LIAT.
When some years ago,LIAT pilots preferred to be based in Barbados,the Antiguan Government closed down the Barbados Regional Office and moved everybody and everything back to Antigua.LIAT?Antigua!Always!
I see LIAT is currently advertising for 3 administrative/management type positions to be based in Barbados.
Revenue Analyst.
Schedule Planning Coordinator
Scheduling Analyst
http://www.liat.com/navSource.html?page_id=117
If the link doesn’t work go to the web site and look under “Contact us” for the careers link.
Where the DLPites not marching up and down the blog this morning talking about all the good news we were going to hear and how much last laugh they always have and yada yada yada, so what happened to the good news………….still waiting for it, Carson et al yall still don’t get it, but you will….good news my foot.
http://www.nydailynews.com/news/national/detroit-largest-u-s-city-file-bankruptcy-article-1.1402727
Carson……….I knew you were up to know damn good, could always tell when the taxpayers are about to be lied to, just by your comments.
Well Well @ We looked at the clip, Well to say , Live By taxes die by taxes, How long do government feel they can over tax the people then to fight to live in over taxed hood. Then after the people move out to get away from taxes up over their heads , Those to poor to move then suffers . Ghost town next move,
@David[BU]
Look at the lost look in their faces!
It is alleged that during the French Revolution that when one’s family or friends were at the guillotine and the onlooker flinched or shed a tear that such was enough to be considered a sympathizer and on such summary conviction one was executed, maybe that was from the book A Tale of Two Cities, I forget the source, time is causing me to interweave fact with fiction, like Sincliar
You only have to look at their faces David to see the polaxed stare of a doe in the lights of the oncoming freight train, they are truly lost.
Look at Sealy in yesterday’s edition of Barbados Today and you see the absolute “lack of direction” stare that has characterized his ministry, the look of a man who sees disembodied spirits floating in the air.
But I would posit this David, this look and gyroscope less disposition besieges BOTH political parties, both of our political choices.
Neither of them has any ideas to take us anywhere, we are adrift and captaiess in both quarters.
In 2008 I had suggested to the then captain to divulge every iota of the spendthriftness of the former administration.
It was his feeling that in doing such it would backfire against in estor confidence in Barbados and they would see the fiduciary incompetencies of our government.
Here we are and all of the blaring incompetencies of this and the previous administration are now being aired on the silver screen of Moody’s
Fumble really has no choice regarding this Integrity Legislation he has, as part of their parting legacy, to implement it so that we the electorate will have some recourse against the incoming party
It is so easy for me to use the looking glass of history and say how full disclosure was the way to go but we are where we are and right now the public confidence in working with these political nincompoops has reached an all time low.
Never was so much owed by so many to so few was a wartime speech made by the British Prime Minister Winston Churchill on 20 August 1940.
The DLP (and the other clowns before them) has rewritten that to now read
” never before in the history (of Barbados) has so little, been given by so many (dipshits) for so long (the 21 years of service by Seethru followed by these clowns and Fumble)
These field and hills beyond recall are now our very own…
Ole Man weighing in
Dear Buffalo Sinckliar
While i doan really like none uh wunna,. I would suggest the following
Reduce the VAT TO what it was before you got seduced by that idiot Darcy Boyce and “Head Boy’s” Ingrunt idea to increase revenue.
Let an ole man teach you (fools) a few things about people, particularly people under pressure. In case you and Fumble de sleeping giant doan know who I talking bout, I mean de Bajan people.
Moody’s already gi’ unna a bad report card.
Buffalo Sincks you need to do two things, give the people of Barbados the common man in the street, HOPE..
In one swoop, decreasing the VAT WILL DO THAT.
You also have to get businesses in Barbados place some confidence in you clowns.
I going be your Wickham and Hartley Henry dis morning at 4.58 am
You and your party are at rock bottom now. If dere was a general election tomorrow in your constituency, I cud run Clyde Mascoll in your seat, or a dog (some people would say dat dem is de same ting) and he, de did dat is, would win
Simckliar, leh me brek it down fuh yuh, cause i unnerstan dat you is not de sharpest tool in de shed, but, once you get the common man/woman (not to exclude the “Mummy why U bite me variants ) in the street back into the business houses, spending money, you will get people to start spending again.
Try it for 3 months Sinckliar and see if what de ole man saying wuk fu you and if de “cumulative benefits” – spending, private sector comfidence, general sentiments, accrue like I am suggesting that they will, fire dat big head fellow Darcy Boyce
I does doan unnerstan whu he does be twisting up he mout saying anyways, does you?.
Do we have consensus that the press conference yesterday was contrived to deflect the news about the change in outlook from S&P? If so it reinforces the view, it is all about how one goes about building trust.
@David[BU]
Don’t worry how the two of them tried to obscurate the Moody’s announcement, you can be sure that Vivianne or the Nation Publishing company, faithful scion of the Barbados Labour Party gine mek sure that that article gine be front page dis morning
En David, I nearly did get to join David T wherever Barney say he is earlier did week!
Yes siree.
You tek a look at de state uh dem independence lights mex tuh nelson statue in dem short trees in town?
Imagine dat I in town feeding dem indigents wid de ***church and I had was to go cross dey causing some napkins get out my hand en I went fuh dem.
i does doan litter like de wufless school chilren (dat is what de Minister of Education We Jonesing does call dem, no not children)
Anyways I went fuh de papers en whaplax blax, I but up pun dem exposed electrical cords!
If you doubt me guh down dey today en see if I is telling a lie!
It is shocking. It only tek an enterprising tourist to guh down dey en pretend to get which and a nex lawsuit pun dem like Al Barack but in de real whitey case, dem gine hafta pay de tourises dem.
Now I tink uh it, I tink dat since it is an electrical ting and Adrian Elcock at de BHTA is also de owner uh Elcock Electrical, dis is really one uh he advertising gimmicks
AC & CCC Follow me now.
OPEN electric wires, Adrian Elcock, Green Hill, when de tourist get electrocute Bulbados gine get a lot uh advertisement/news coverage regarding “tourist electrocuted next to Lord Nelson as BHTA CEO seeks to promote Barbados when his Rihanna led promotions fails”
Vivianne, please fuh a pic at de Nation nuh???
@ pieceuhderockyeahright | July 19, 2013 at 6:36 AM |
“OPEN electric wires, Adrian Elcock, Green Hill, when de tourist get electrocute Bulbados gine get a lot uh advertisement/news coverage regarding “tourist electrocuted next to Lord Nelson as BHTA CEO seeks to promote Barbados when his Rihanna led promotions fails”
“Bulbados”. What a word! The local brand of Epenthesis patented by the old piece of the rock, indeed for amusing effect.
Master Piece of the Rock, like a true scion of an old philosopher of life’s Wisdom called” Experience” you have a way with words that even Shakespeare would have been proud to be in your class of literary icons.
You have done your honourable duty in demonstrating great love of this country and for the less fortunate in the game of hard knocks called LIFE.
As a concerned citizen you have brought this seriously dangerous and potentially nationally expensive hazard to the public’s attention.
We shall see if those “Officials” that read BU are worth their salt and justify the salaries paid to them.
We shall soon see if this dangerous blight to the safety of people including unsuspecting visitors is allowed to remain like the detritus from the weeding and clearing of the drains and gutters left on the pavements for days and extra days even for months on end.
We cannot blame the international recession for such grossly poor housekeeping.
Plantation……..Detroit has been on this course of bankruptcy for at least the last 20 years. overtaxed, overburdened people have to look elsewhere for survival, instead of outsourcing US jobs to Detroit, they outsourced it all to China, southeast asia because of greed. There was also another motive two pronged, get all the young, majority black city, into the military as collateral damage since they had no where else to go………shit has now back fired after all this time…that is just the beginning.
Piece said:
“Fumble really has no choice regarding this Integrity Legislation he has, as part of their parting legacy, to implement it so that we the electorate will have some recourse against the incoming party”
__________________________________________
The only way i see the PM doing this through spite and not through any need to make sure the taxpayers are protected from their corruption and also to get the last laugh, these politicians have really undermined themselves……..some other cultures would call it shooting themselves in the foot.
@Anunnaki the Sage
“…..allowed to remain like the detritus from the weeding and clearing of the drains and gutters left on the pavements for days”
Attention to the little details.
I am increasingly amazed how few people notice things like this grass o Sage.
I can see Sage that you used to walk when you were growing up. As an experience it makes you appreciate the car when you are older but, for those who never walked when they were growing up or for those fellows, like Sincliar, who having walked now find themselves with Q7s, now despise that ground and distance themselves from such menial beginnings in Goodland, you become aware of these grassroots things
You remarked about that detritus eyesore.
None of those vandagers with responsibility for ensuring that the detritus was removed would know, nor for that matter care, that that same detritus, post rain, and dew, and sunlight and natural decomposition becomes one on the most dangerous substances to have under the wheel of a car when you try to brake a 1 ton vehicle or a bus.
It is not within their ken to realize how dangerous those little piles of grass left on a road for weeks cause many a motorist to slide without control in that scum until one’s wheels are affected by Newton’s law I.e. a body in motion will continue to move in a straight line unless after upon by ….
Therein lies our country’s predicament O sage.
We are saddled, on either side of this divide, by incompetence personified, nitwits pretending to be magi, cxnts, female rabbits all. Disconnected from what is really going on, buying time until they come home, like me, on pension.
Parasites, waste foops, who having lived, consumed resources, contributing while slumbering here, while these visions did appear….
Contributing nothing, left out the nothing
Piece said:
“like Sincliar, who having walked now find themselves with Q7s, now despise that ground and distance themselves from such menial beginnings in Goodland, you become aware of these grassroots things.”
___________________________________________________
What’s the use of driving a Q7 when you only have an IQ of 7………….it would be much better to have an IQ of 170 and walk or catch the bus.
The outrageous suggestion by some people that sometime between 2009 and 2012 Barbados emerged from out of the very prolonged political economic depression that started in 2007 and that still continues up to this point in time is a very unstudied one indeed.
PDC
The Dummy @9.53p
Enlighten me on their demands.I know it cost Bizzy dearly.Let me be the judge of your input.
Hard to believe the extent this administration will go playing with peoples’ welfare and lives. Ah mean it is so obvious that press conference was orchestrated,after getting wind of S&P…. to dampen the news and offer a new pos+ revelation. ….Sealy said nothing new that we had not already known..Almond… the games we play…. the No increase in Vat announcement…..THANKS DOA from the people of Barbados…thanks too to BU town-criers…. we know somebody always taking notes
Now that we have been further DOWNGRADED…..at least we have the good news of no vat increase ..or do we?….Wait a minute does the MOF set policies for the IMF..if that is the next step they taking?……Games and mo games while the people suffering daily can’t make ends meet.
…I just love the BIG show…no show again…true to form
Speaking of Bad news . Detroit filed for bankruptcy. imagine this state had some of the most booming financial years in history supported by the Auto industry and music industry . However past administration local govt took it for granted that these years would last for ever not worrying to restructure the economy or put policies and measure ins place to control its debt, .The scenario which is being played out in Detroit can be compared with most of the carribbean island and what the financial debt they are experiencing today where govts relied heavily on ”one sector to sustain an economy. In detroit case the Auto Industry was the bread and butter of its economy until Corporate found a cheaper labour market in china and a workforce which is not tied to unions and pension funds, . Which leads to Barbados finding itself on a similar path bogged down by debt. and a once booming Tourist industry which was the breadbasket of its economy sputtering ………..Where there is no vision the people shall perish.
Detroit was in that state of downward slide for over 20 years, it was orchestrated and has nothing to do with the worldwide recession or Barbados……….i knew some idiot would try to run parallels.
It plainly shows us that being a yardfowl does not necessarily mean you are in the inner circle that gets certain information.
The blogmaster invites you to join the discussion.