DeLisle Worrell, Governor of Central Bank of Barbados
Peterson Institute for International Economics, Washington, DC
April 17, 2014
DeLisle Worrell, governor of the Central Bank of Barbados, addressed the topic “Macroeconomic Options for Very Small Open Economies,” on April 17, 2014, at the Peterson Institute for International Economics.
Worrell has been the governor of the Central Bank of Barbados since November 2009. He worked at the Bank between 1973 and 1998, holding previous positions as manager of the Research Department, divisional director of Research and Information, and deputy governor. Between 1998 and 2008, Worrell worked with the Monetary and Capital Markets Department of the International Monetary Fund and, more recently, he served as the executive director of the Caribbean Centre for Money and Finance (CCMF). He holds a Bachelor of Science degree in economics from the University of the West Indies and a PhD in the same discipline from McGill University.
Event Materials – Presentation [pdf]
Those who don’t want to listen to the 2 hr exchange tune in from 1.10.
What topic did the governor concentrate on for his Phd? We had another Governor parading around Barbados, but he was only an student of the history of economics. Is DeLisle bluffing?
Given his political behavior during this administration’s tenure. I would find it hard to give up two hours listening to him.
He represented his position well which is based on judement however.
It is not a matter of representing his position. Most of the people in that conversation he should know more than, as there are a lot of bluffers like him in the US. I am not convinced that he knows what he is talking about. Frank Alleyne is another bluffer; he is just full of talk. This economic crisis was a wonderful opportunity to shine, but as a bluffer he could not for times like these call for quality not an airful of quantity. Worrel through politics was given a job; that is the end of that story. If Worrel had any quality Chris would have been floundering all over the economic place!
Do you realize that ordinary civil servants, who are not Barbados Scholars or went to HC, run the financial matters in this economy. These people with hands on training have been doing it for years. Why the Frank Alleyne’s and DeLisle Worrells for it so hard to do? Where is the advice to tell the stupid politicians that boss man you can not continue spending or misspending like there is no tomorrow. Boss man this economy thing is about securing the needs of the people of Barbados, not securely fixing your friends mouths to the economic trough. That is what is currently happening, under the esteem watch of Alleyne and Worrel. I will not watch stupidity in action: DeLisle Worrel.
I want to declare that I have no formal training in economic, but I understand it. I t is not rocket science and most of the economists are caught with their models or schools of thought as in any other discipline. However, along with the theoretical a dash of practicality spices up that food quite nicely.
THE BEST ECONOMISTS IN BARBADOS ARE THE POOR OLD PEOPLE THAT RAISE THE IDIOTS THAT RUN BARBADOS.
MOST OF THEM FORGET WHERE THEY COME FROM AND HOW OFTEN TIMES THEIR SINGLE MOTHER RUN THE HOME ON NEXT TO NOTHING
AS KNOW IT ALL WOULD SAY…….. OUR LEADERS ARE BRASS BOWLS. ah lie?
I can agree Georgie.
You normally has a soft copy of the Auditor General’s report; where is it?
Can the BU intelligentsia explain why if the Governor of the Central bank has projected flat to negative growth this year we have this report by Market Dynamics Caribbean?
The question BU has is who the hell is Market Dynamics Caribbean?
It is interesting during the Q&A with the Fellow he complimented Barbados for the robust discussion and questioning which we engage to put pressure on our governments. It is a practice which outsiders admire and it is one which the yardfowls condemn. Say what you want governance and democracy requires advocacy by people.
David why are you having a hard timr coming to terms that this govt has laid out a plan that in the weeks and months ahead would see a much needed improvement in the economy..btw you begin.ing to sound like mia
If you want to know more about the above mentioned organization, Google. You’re as intelligent as the BU intelligentsia, you forms its core.
You see many persons must get to critically analyze understand the fundamentals about the academic discipline called economics.
If they do not do so, they will never know about the many false and discredited theories helping to make it up, and helping to make it, THE most unscientific of the ALL the social studies disciplines.
THE worst and most vile in terms of the mass numbers of people, in Barbados, whose minds continue to be poisoned by the many natures of the many toxic virulent elements contained in it.
Thousands upon thousands of Barbadians today remain critically socially ill as a result of the intake of these lethal dosages of the corrupted economic medicine; with their consumption of such virulent noxious intellectual substances mainly coming on the instructions advice of many persons who call themselves economists – the modern day versions of a type of social alchemists.
and yes david I PREDICT that when this govt leaves office ,,that it would be hailed by YOU and many of the PROphETS of doom and gloom as one of the most progessive govts through out the carribbean,,,,,,,,,,living a legacy one built on an economic platform of sustainability for this country as a model from which other small nation islands can learn …that would be the legacy of this govt,,,lead by the RGHT HON PM STUART ,,,,,,,,so far a survey has revealed that the people are Behind and supportive of the efforts that this govt is doing ,,enuff said,,,,,,
@Dopey and ac
This dialogue taking place is way ahead of you guys, you have to be in it to have appreciation. BU unlike YOU speak to issues and not party or politicians.
AND we had hoped not to have to remind you but ANYBODY can post bios on a website.
Note you have taken the prize for the most pedantic commenter for consecutive months.
NO DAVID YOU speak to party itself,,,,,,,,,,EXHIBT A YOU QUERY,,, OF THE PUBLICATION…. unable to come to grips with a piece of news that shows positivity,,,,,,,,,unlike your other reactions to the many other articles which showed the country in a downward slide which you were quiet happy to reveal,,,,
Unlike you and the Nation newspaper BU refuse to resist asking questions. Because some Internet publication published an item which conflicts with the Governor of the Central Bank, IMF and other economic outlooks we should not question it?
Here is a deal, you drink it we question it. BU’s role is not the same as partisan supporters.
You would get grey hair trying to convince AC; you may need to call SSS.
I finally listened to a bit of Worrell’s prepared speech. He is saying nothing new. He belly aches about small countries not being heard and fighting to protect their exchange rate, but he brings no innovation to the table. Given his time and experience a the governor where is the critical thinking. My conclusion is that he brought the fellow from the institute here and the fellow invited him too. I do not where the Caribbean small economies have had a position put for them. What do we (Caribbean economies) think the US should do to assist us? How could they retool their economic engine and institutions to assist us? How can they ease their trade restrictions or improve our capacity to access their markets with niche products? Your boy DeLisle just rambled on and on mispronouncing money for “muney”, and did not seize the opportunity. This was just another academic exercise.
It was an interesting Q&A if for no other reason it stokes critical debate. What is disappointing is that we need similar debates taking place on the Hill among local and regional brains. To be fair there is one scheduled for tomorrow night.
Any comments about the Governor’s thinking that we have more fiscal wriggle space because a high % of our debt is local? In other words we owe ourselves and this state does not pressure balance of payments.
I will plagiarize the comments of the Reverend Wes Hall “bereft as these our leaders are of any innovation and inventiveness…” they can only do what they are capable of “ramble on while trying to sound intelligent and informed when invited to dinner parties or, as in the Case of the Governor of the Central Bank, to Institutes ovah and away”
Did you notice how they seem to have given him a chair with the bottom buss out? De man crouch in it like a vulture dennn!!
Lemuel I was wondering about the old reports card that the primary school i went to issued and its applicability to this macroeconomics big words thingy
I think that it is time for the establishment of the IMO – International Marking Organization.
The function of the IMO is quite simple – a marking system where, governors, ministers and travelling public servants who waste the tax payers money and do the travelling thing to earn/sorry tief the per diems and the other travel perks, like the strip tease bars and lap dances, where they would all be graded as a part of this iniquitous system of speechifying en ting.
The way that the IMO works is through grades assigned by, among other things, the organisations that invited them AND the people who heard them speak.
The final mark would be based on (1) the review of the inviting entity (5%) (2) the subject being presented and its importance to the average Bajan citizen (30%) (3) the number of people who came to hear them (5%) ( 4) the opinions of the people who came to hear them (30%) (5) the cost of the trip and the # of days they spent wasting time there (10%) (6) the outcomes of that mission in actual dollars (60%)
Whuloss dat mek 140% man, Lemuel, I like i went to the same school as Chris Sincliar man!
Now for people like Maxine McClean who does do nuff travelling and deliver nuffin to the peeples of Bulbados, what would happen is that one would take # 3 – the number of listeners and multiply if by # 5 de cost uh de trip and divide it by #6 – the money derived from the mission and add number 2 – the one which in bajan parlance means human faeces.
The resulting number that we derive would be the number of warm liks dat we would get class Infants B from the Primary school in each of the respective ministers/public servants constituency to administer to them with plastic batons while the culprits are made to run from the taxi stand at the bottom of Broad Street, through a gauntlet of “school chilrun” (dat is what We jonseing does call dem) to the House of Assembly.
Whu you tink….?
Cont’d from the above PDC insertion.
Take for instance the theory of demand for and supply of goods and services in the country.
Wikipedia.org says that in microeconomics, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price) resulting in an economic equilibrium for price and quantity.
It goes on to say that the basic laws of supply and demand are:
1) If demand increases (demand curves shifts to the right) and supply remained unchanged a shortage occurs, leading to a higher equilibrium price.
2) If demand decreases (demand curves shifts to the left) and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.
3) If demand remains unchanged and supply increases (supply curve shifts to the right) a surplus occurs, a surplus occurs, leading to a lower equilibrium price.
4) If demand remains unchanged and supply decreases (supply curves shifts to the left) a shortage occurs, leading to a higher equilibrium price.
Well, as we have previously said on numerous occasions on here and elsewhere, there is objectively no such existence as price. Hence, as we have already indicated/proven, there can be no such thing as a price for a particular good or service.
So while we accept the notion of a market, this thing about price varying until it settles at a point ….is absolute rubbish – and furthermore the quantity demanded by consumers having to EQUAL the quantity supplied by producers is absolute rubbish too.
A serious examination of the practical affairs of so-called consumers and producers in Barbados will show that – even though the quantities of goods (NOT services) can be measurable in virtually all cases of a market sub-system, there is no such materialization as a quantity demanded of goods services being measured, by reason of the very fact that DEMAND for anything CANNOT be measured in any numerically objective manner.
The fact of demand (a psychological attitude ) being presumed by the those – persons who accept and promote the theory – to be assumed when goods are actually passed from various sets of persons to other sets, does not mean it can be measured – far from – and – being a psychological condition – means it CANNOT be any where considered to be EQUAL with GOODS (physical states).
In the latter sense it is very and absolutely redundant and illogical for any one to reasonably logically talk in any local setting or write in any text about the supply of goods/services and furthermore about
the quantity demanded EQUALLING the quantity supplied in a market subsystem, since the quantity supplied themselves, the supply of goods/service – being material existences – CANNOT present such similar psychological emotional states as are persons who are desiring such goods and services are capable of.
As such we therefore present the argument that it is entirely illogical and unfounded for such a theory to make for, to otherwise describe the existence of non-quantifiable psychological emotional states of human beings as EQUALLING/with somethings that are themselves quantifiable.
So from these and other points that we will continue to make under this thread we will show how badly constructed and flawed this theory of demand for and supply of goods and services has been and continues to be and how very inapplicable it is to any market situation in Barbados.
The People’s Democratic Congress | April 23, 2014 at 8:37 AM |
Come on PDC, although I applaud anyone who challenges the status quo, you are clearly out of depth here. I’m sorry to say, but this contribution is utter nonsense, and indicates your significant lack of knowledge of the subject matter, even though we may agree that some economic theories [as also indicated by many economists] are not absolute.
Essentially, PDC has relied on Wikipedia.org’s basic definition of supply and demand as their only source of research and used it as the basis to critique the theory, without taking any other associated economic variables into consideration. What is even more ludicrous is the fact that by using this basic definition, PDC is seeking to refute years of research in market behavior theory, without themselves bringing any other sources of information to substantiate their criticism.
What wiggle space, if this debt is owe to the many foreign entities that we have here, then the funds shall still leave the country. A recent review in Brass Tacks indicated that much of the forex leaving the country is related to the foreign owned companies and businesses who are taking out their profit. It was a pity that David Ellis pooh poohed the contribution saying let us leave it the the economists who really understand. Shame on you David Ellis!!!
In ALL the economic texts we have come across – and we have read a good many of them, there is none of them that moves away from what wikipedia.org has published as consistent with the theory of demand for and supply of goods and services. None!
And as time goes by we will prove what we say to be the truth.
Too, we take note of the fact that like a batsman who – on a cricket pitch, swipes impetuously and makes no connection with an oncoming cricket ball, you also failed – in your reaction – to connect with the epistemological and philosophical issues raised – in our post above – about the inapplicability and invalidity of the theory of the demand for and supply of goods and services.
Dr worrell had previously laid out an assement or case against the one size shoe theory.such an assesment might have been given significant consideration ny the imf .furthermore nothing in economics is iron clad or fool proof alesson learnt from the global melt down and the gov predictions most likely was based on the currant economic climate
In the PDC post just now – in the first paragraph of it, we are referring to the definition that wikipedia.org has published.
The mere fact that you are defending Dr Worrel to me for a fact that he is a DLP lackey. Do not let me call SSS for you.
arterexes…i have some free advice for u sincee i seem to have an ac stuck inyour throat. first gaggle with glabber salts and sallow some razorblades.it always work.u can pass the advice on to yoir lowlife friend sadistic slimy sleaze ball SSS
I guess that thread was meant for me. I do not know SSS; all I know is that she breathes and pants for YOU, ac.
“Note: you have taken the prize for the most pedantic commentator for consecutive months.”
David, unfortunately, your opinion only matters, if I value your opinion. And who made you the final arbiter, on what’s pedantic and what’s’ not brother? Now, am I missing something here? Dah!
Oh Shoot … HA HA HA HA HA … MURDA … Ali Mansoor (Mauritius Financial Sec) fcuk up DeLisle Worrell, den … mek he look like a boy. If dah Fred Berstin din dere to jump in, the economic policies that Worrel did spewing would have been exposed as the sham that it is. Mansoor spoke about TRUE economic diversification and that it had NOTHING to do with population size, a variable that Worrell prefers to hide behind. He spoke about shopping for talent in a flat world and that economic diversification leads to economic expansion which leads to population size increase. Jesus H Christ, Mauritius and Singapore got independence at about the same time as Barbados with the same fcuking backward institutions, public policy and procedural headaches. Look at them now, and here was Mansoor explaining in five short minutes how it was done. He made more fcuking sense than the key note speaker who was reduced to a mere member of the audience.
Berstin (incorrect spelling of course) tried to defend Worrel by speaking about “diversification” in the tourist sector, ya, ya … That type of response might fool an electorate, but in a room full of thinking men, it must have rung hollow as a lame attempt to defend a (- censored -). Worrell spoke about Institutions and Innovation as two of twelve indicators in this Global Competitive Report, and moved on without expanding … The reason being of course was that he could NOT.
The British have a term … “Polishing a Turd …”. I often wondered what it meant …
BTW Mansoor also shot down the fixed exchange rate hype … Worrel brought some new terms to the table … “Labour Market Efficiency’ (translates to slave labour), “Goods to Market Efficiency” (to whose fcuking benefit ..?) and here’s show stopper … Exchange Rate Depreciation … HA HA HA … now wah dah mean … in one word nah …
The British have a term … “Polishing a Turd …”.
AC……just asking, can you tell us the amount of plans DLP laid out in the last 6 years and how many actually worked, I mean if any had actually worked, I would not have to ask, just asking…
The Governor’s point is the most of the debt is local, we owe ourselves, repaying bondholders will come out of domestic incomes.
It is why BU drew attention to that part of the video. It was most insightful. Traditional media highlights Worrell, how about the full exchange to give full context?
lemuel.the fact that thegov predictions are in opposite to whatis being said currently does not make his past prediction wrong.which were based factually on models and voiatillty at that time .having said that major positive shifts haven taken place as within the tourist industry and govt projects to boost growth and employment has been puti foward as good measures which would help to build investor confidence in the economy all of which translate into a positive outlook
Mauritius and Singapore.
Do any of you seriously thinks Bajans could accept the rule of law and the required discipline as exists in those two countries?
Wunna can’t even stop spitting an pissin in public after all these years of “progress”.
Only a Dictatorship or communism will change Barbados.
Help me understand how Barbados will manage a change from fixed rate to floating rate.
If the dollar floats it will likely be $10 to $15 BDS to $1 USA.
How long would it take for Barbados to recover from the economic devastation that would follow devaluation.
“It was a pity that David Ellis pooh poohed the contribution saying let us leave it the the economists who really understand. Shame on you David Ellis!!!”
What would it take for you to fully appreciate a fraud when you come across one nah ..?
The Governor was pathetic. He was hard to follow and this is because he was “padding out”. Mansoor was straightforward and to the point. What are you prepared to bet that Mansoor will EVER be allowed to address an audience in Barbados … huh?
No lemuel i did adress those comments to arterexes seems like he has a fetish for ac as from a number of past comment ac has been a bone of contention openly voiced by his /her comments.
“Too, we take note of the fact that like a batsman who – on a cricket pitch, swipes impetuously and makes no connection with an oncoming cricket ball, you also failed – in your reaction – to connect with the epistemological and philosophical issues raised – in our post above – about the inapplicability and invalidity of the theory of the demand for and supply of goods and services.”
As Bushie would say “a whole heap a shiite”.
PDC, you should put a little more thought in your contributions and present them systematically, before trying to force your ideas down the throats others. It would serve your cause much better if you were to articulate your points without the constant use of so many ambiguous, redundant, generalised statements which more often than not, make your contributions incoherent and difficult to comprehend.
Moreover, as it relates to “swipes impetuously and makes no connection with an oncoming cricket ball”, you have not placed your policies within a context that demonstrates they are implementable; i.e. present a country that has seen significant economic growth and development as a result of embracing ALL your policies. Instead, you relate each policy proposal to a different country [e.g. the no taxation policy was related to Qatar].
Another example is your hire purchase relief fund…. surely you must accept that the viability of such a proposal is questionable and would place you under scrutiny.
PDC’s responses to those who query your theories are often tainted with insults and verbal abuse, which suggests “how dare you question the PDC?” You are alienating yourself more and more each time you do this.
If PDC wants to be taken seriously, you must be a bit more tolerant of anyone who may criticise your proposals or seek further clarification on them.
The same way you believe it is your right to be critical of anything that does not come from the pen of PDC, we have the right to seek your clarification on any idea, theory, suggestion or policy you propose. You must also bear in mind that this blog is a public forum and by contributing to it, you have accepted the unwritten “terms and conditions”, thereby opening PDC to public scrutiny, even if harsh criticism accompanies such scrutiny.
PDC, patience is a virtue… you need to exercise more of it, especially if you want to sway others to your way of thinking.
“arterexes…i have some free advice for u sincee i seem to have an ac stuck inyour throat. first gaggle with glabber salts and sallow some razorblades.it always work.u can pass the advice on to yoir lowlife friend sadistic slimy sleaze ball SSS”
What the hell are you on about? I have not referred to you in any my post. I think you may be paranoid.
We need to remind you we are a party of members and associates!
Thus, there are too many instances where – in your 1.21 pm April 24, 2014 blog – you were referring to our policies, and our contributions, as “your policies ” your contributions”, etc., and where you were referring to what the PDC should be doing must be doing, as “you have”, “you must”, etc., as if we are a single person, without the knowledge of knowing exactly who we are, what we do, where we meet, etc,
So, instead of saying “their”, “its” policies, programs, by your constant use of “your”, “you”, etc., and which points to the very false assumption that you are referring to one person, you create the entirely false fictitious impression that you are not dealing with an entire group of people, and as such paves the way for our seeing much confusion in how you are responding to our posts – when ever you do – and for our seeing why – to some extent – you will continue to fail at “standing up” to our theories, analyses and other things we put on here.
Some people on here – and who might know us – might be prompted to ask themselves: “if he cannot understand that simple fact, how can he properly fully under stand the PDC’s Theory of NO-TAXATION”.
They may also ask of themselves how could you – the person going by the pseudonym, Artaxerxes, be so wild and reckless in his charges about the PDC relating each of their policy proposals to a different country and in how they related their NO-TAXATION theory to Qatar, when in truth and in fact they have never ever done – at any time on here – anything regarding those two very false accounts.
And again – on such bases – they will question if the person going but the pseudonym, Artaxerxes, has really the capacity to understand this NO-TAXATION theory, since for them ALL the evidence is there on BU, for those who are interested in seeing it, that the PDC has never related each of their policies to a different country and in that sense therefore has never ever related their NO-TAXATION theory to one of them, Qatar, as he, Artaxerxes, has totally misstated.
Anyhow to the matter of your last reaction to us. Once again we have to say how unfortunate it is that you have deliberately refused to deal with the epistemological and philosophical issues raised in the second last PDC post before this one concerning the inapplicability and invalidity of the theory of demand for and supply of goods and services in Barbados.
really all this hoopla generated and hurled at the gov. predictions was predictable.the gov did not commit a crime in respect his dire predications might have been a driver forcing gov. tp make necessary changes sooner rather than later.the way i see it was a reality which govt respected coming from Worrell.
AC……..what will you say when it all BACKFIRES……what then?
The S&P and Moody’s will later confirm that stated by Dr. DeLisle Worrell. The DLP may not know what in the hell they are doing. The BLP also didn’t know what in the hell they were doing.
Care to speculate as to what happens to Bim when the USD collapses…..
Are we planning an alternate strategy for the likely implosion of western economies….
@ Vincent Haynes
Putin will leave Ukraine alone, BIM will become his NEW APPETITE.
Please help me understand how Barbados will manage a change from fixed rate to floating rate which is effectively a devaluation.
If the dollar collapses it will negatively impact the global market – negatively.
We would have to buy what we are able to afford.
My answer lies more with how you answered Hants except the barter system will take over……
As the collapse of the USD is being entertained we have to keep it at the back of our minds.
Look, I have a suggestion … Employ the services of Ali Mansoor as the New Governor of the Central Bank … then again no. Who needs the blot against your record when you discover that you really are NOT as powerful as the introducing speakers made Worrell out to be … No one in their right mind from Mauritius would be prepared to address the public with comments like “there is NOTHING wrong with being a Creature of the Minister of Finance …” or “No economist in the world can help you now, this is all new territory …!”
It was a Public Relations charade … that is all, that is all, that is all …
Is it expecting too much for all concern to have thought to stream the discussion to take place at the UWI tonight?
This is 2014 for heavensakes in a country where billions have been invested.
Now why you feel de biggest names in Banking Theory coined and feverishly supported the phrase … “Too big to fail” … nah?
You don’ think dese people t’inkin’ generations ahead …uh? It is all well and good to call people like me “conspiracy theorists”, when basically it is just an example of a natural human trait to conspire in ones own interest, with those who know how the game is played; and the greater the threat the greater the preparation …
Which discussion ..? I don’ live far from UWI
There is a discussion about the economy at the UWI tomorrow night Jeremy Stephens, Hilford Murrell, Winston Moore, inhouse Doc to chair, believe Ryan Straughn as well.
Time to Right Ship Caribbean!
Did you look at the first two posts on the above blog….they talk about the demise of the USD…..which then leads me to ask if the effects of this have been factored into the future path of the Caribbean?
Thanks David … I assume that it is NOT a political thing and that it will start at 7:00 pm …
“We need to remind you we are a party of members and associates!
Thus, there are too many instances where – in your 1.21 pm April 24, 2014 blog – you were referring to our policies, and our contributions, as “your policies ” your contributions”, etc., and where you were referring to what the PDC should be doing must be doing, as “you have”, “you must”, etc., as if we are a single person, without the knowledge of knowing exactly who we are, what we do, where we meet, etc,”
“So, instead of saying “their”, “its” policies, programs, by your constant use of “your”, “you”, etc., and which points to the very false assumption that you are referring to one person, you create the entirely false fictitious impression that you are not dealing with an entire group of people, and as such paves the way for our seeing much confusion in how you are responding to our posts – when ever you do – and for our seeing why – to some extent – you will continue to fail at “standing up” to our theories, analyses and other things we put on here.”
You like to quote from Wikipedia, so I thought I should do the same.
“In linguistics, a collective noun is the name of a number (or collection) of people or things taken together and spoken of as one whole. For example, in the phrase “a pride of lions”, pride is a collective noun.”
A collective noun is a noun that names a group that is made up of individuals. Examples: a large group of people – crowd; a group of foot-ballers – team; a large group of wild boys pretending to be politicians – PDC.
For example, if a coach was addressing his team, he would say “I want “you” to do such and such” or “I want “you” to win this game today.” If that coach was addressing his team about the opponents, he would say “I want “you” (his team) to counter attack “their” (the opposing team) strategies.
If I was responding to David, Hal Austin or the Bush Man about the PDC, I would have to state “their policies”, since I was responding to PDC, as the collective, I would have to say “your policies”.
Your attempt to attack my intelligence highlights the stupidity of the “party of members and associates”, when it is evident that you do not have a basic knowledge of the English language. This lack of understanding is proof why your contributions are always filled with syllogistic fallacies, fallacies of the undistributed middle as well as ambiguous, redundant, rhetorical, generalized statements.
It is against this back ground, that I will not attempt to engage in any meaningful dialog with you bunch of wild boys.
If you cannot understand primary school level English, how the shiite you brass bowls [thanks again Bushie] could comprehend economic policies, far less manage the affairs of a country.
Can’t believe Bushie miss out on this blog….. 🙁
Keeping a fixed exchange rate is like a grown man expecting to continue living in his parents home indefinitely….
Floating the Barbados dollar is like telling your grown son to stop hiding behind the false protection of his parents shelter and go out there am make his own life.
When he live at home, he could splurge on fast cars and wild women because YOU protected him from the HARSH reality of going to the supermarket, paying utilities, fixing the roof, and paying medical insurance etc.
Having most of our debts being local is just another farce. We have used our “mock money of inflated value” to pay for services of poor quality…these ‘salaries and wages’ are then used to demand goods of REAL value….costing foreign exchange.
When we take NIS funds to pay public servants what the hell do we think they buy with the money? Sweet potatoes…? Even then those may well be imported.
The Governor is not simply clueless….he is downright dumb…..else he would NOT expose his ignorance at such sessions…..he should just concentrate on playing with his toy cars…
The ONLY viable option for small open economies is to GET A JOB and do it as well as, or better than, anyone else – anywhere.
,,,,,,,,”so far a survey has revealed that the people are Behind and supportive of the efforts that this govt is doing ,,enuff said,,,,,,”
That survey would have had to be taken from persons of your political persuasion because only purblind party apologists like you would believe that survey. Not even the GOVT believes that anything can be done for they have long thrown their arms in the air with the expectation as prophesied by the Prime Minister himself that recessions do not last forever and nothing more can be done. It would indeed be a travesty but I would put my neck on the block that as poor as the Opposition is if elections were called tomorrow the DLP would only retain the St John seat and by a reduced margin.
You would never hear a coach saying to his team: I want you to do such and such…. maybe in Barbados. If a coach tells his team: I want you to win this game, it would appear as though he is speaking to one member of the team. A coach would normal say “I want you all”… or I want ya’ll guys etc. You all/ ya’ll all is used by some speakers to eliminate the ambiguity cause by the Standard English “You”, since you does not differentiate between Singular and Plural.
This octogenarian will bet you that the DLP will loose every single seat when the next general election is going to be called including St John.
@ Brother Dompey
I hope that you are fine and that the mighty USofA is treating you kindly. just by way of passing commentary “you” the personal pronoun can either refer to singular or plural subject(s) and does not need any additional qualifier, so for example when the King James Version exhorts in Olde Englishe “thou shalt not steal” or the NIV “you sahll not steal, it infers plural subjects/object per this command sine (without) having need of any qualifier. Enjoy your day at Uncle Sam’s workplace wherever that might be. BR, de olde man
you have expressed such sentiments before only to be disappointed,,,time you stay off the block,,it is a dangerous place to go……..i predict loudly that you are wrong,
BU looks forward to a report on how the discussion at UWI goes. Hopefully the opinion of local economists will be asked for relative to what Governor Worrell is on record as saying recently. We should all bear in mind these are Worrell’s views, opinions and many times not supported.
@ Bush Tea | April 23, 2014 at 10:39 PM |
“Having most of our debts being local is just another farce. We have used our “mock money of inflated value” to pay for services of poor quality…these ‘salaries and wages’ are then used to demand goods of REAL value….costing foreign exchange.”
To Dr. Bush Tea the real PhD in commonsense:
How do you continually manage to expose that fraud posing as some misguided academic? The man is so intellectually blinded in a world of reality that even dogged commonsense has avoided him.
The question that Dr. Magoo of Worrell has to answer is what will be the government’s alternative to the financing of its fiscal deficit on the current account. Now that the IMF has made contraband the use of the CBB’s printing press to accommodate the ruling administration with its fiscal profligacy and propaganda what would the quack do? Go underground with his money printing machine to meet Central Government’s monthly cash flow requirements and underwrite transfers and subsidies to statutory entities?
If the Central Bank is really and truly under the watchful eyes of the IMF you should expect in the coming months further raiding of the NIS funds and a selling off of some of the remaining national assets; much to your chagrin, Dr. Bushie.
Do we have any evidence the Central Bank has stopped printing money?
@ David [BU]
Ask a discrete question to Cot Printery
“You would never hear a coach saying to his team: I want you to do such and such…. maybe in Barbados.”
“A coach would normal say “I want you all”… or I want ya’ll guys etc. You all/ ya’ll all is used by some speakers to eliminate the ambiguity cause by the Standard English “You”, since you does not differentiate between Singular and Plural.”
Rubbish!! …… As an example, listen to the Jacksonville Jaguars’ [a USA team]head coach Gus Bradley’s pre-game speech to his team in the 2014 Senior Bowl.
You guys never analyse anything within the context it was made. You just like to jump up on the bandwagon and write shiite.
Here are two quick pointers consistent with standard American practice:
1. Treat collective nouns as singular. This usage is more conventional.
2. If you wish to emphasize the individual members of a group, rewrite the sentence so that the collective noun is no longer the subject.
My friend “you all” or “ya’ll” is considered slang and not standard English. at this stage, I think you should continue your exchange with Baalam.
It is clear the more you write in reaction to us, the more you become more and more intoxicated in your own stupor such that, like a fumbling stumbling drunken old man who can not – on a road – find his way home after an evening of drinking himself to drunken inebriation, and even after having used the road countless times before, and with persons seeing him but nobody daring help him back home because of his characteristic behaviour of deliberate drunkenness, and so he has to find his own way home; you cannot find your way out of your now characteristic behaviour of deliberate stupor that you have deliberately – through your own folly – created for your self via the your last two contributions
The fact remains that you have been referring to the PDC as a SINGLE PERSON, and as not a collective of PERSONS, when you ought to be referring to the PDC as a collective of persons, the fact being that we are a collective of persons.
So drunk are you in the unintellectual stupor of your last two contributions that you have failed to realize that – as the situation really stands – references could be applied by any serious persons seeing the argument we are making – to distinctions between a person who presently writes and present posts for the PDC on BU, and the PDC itself; the person who presently writes or presents posts for the PDC on BU, and the established official policy philosophical positions of the PDC; and the person who presently writes or presents posts for the PDC on BU, and the personal political positions of the various individual members and associates of the PDC.
Indeed, the person who writes for the PDC may not have to be a member of the PDC but just be a plain writer on the behalf of the PDC or for the PDC.
So, like this very drunken man who sought eventual temporary support for his absolute drunkenness on an old post alongside the road, when it could not even help him in his alleviating his drunkenness, your going to wikipedia.org for reference support at the patently wrong time and for the patently wrong reasons, could never help or have helped you out of your own deliberately orchestrated unintellectual stupor and drunkenness as demonstrated in your last two contributions addressed to us.
For only you can fundamentally help yourself, once the right conditions exist to do so – by your knowing the facts pertaining to the PDC, and the facts of who so ever writes or presents posts and other information for it anywhere, which will in this case never be right now found anywhere on wikipedia.org
The fact that you do not know these facts will be more and more evidence of your own deliberate state of confused drunken stupor in referring to the PDC as a single person – and not as a COLLECTION of persons.
Here is more evidence of your utter confusion – seemingly without your knowing what you had said in a 9.38 am, April 23, 2014 blog of yours: “Come on PDC”, and it is the People’s Democratic Congress, if you were inclined to address the organization, ” although I applaud ANY ONE”, here is another oblique reference to the PDC as a single person – and you do not even say ANY ORGANIZATION – and it would do you well to check the meaning of ANY ONE, “who challenges the status quo, you are clearly out of depth”.
Now, it is clear madness for any one not knowing our organizational structure to say that all of the members and associates are out of depth in the sense to which you made the particular comment – it is absolute madness when in truth and in fact you are really addressing the particular writer of the particular PDC post – and not the PDC organization. And you went on further to write in that particular contribution, ” (it) indicates YOUR significant lack of knowledge of the subject”.
Again the latter is sheer evidence of the confusion that exists in your mind in addressing the PDC as a single person – not even the person who is presently writing these posts on BU, as a mere presenter of PDC information on BU, and or who acts as a conduit for presenting PDC information on here – and not as their being an entire political organization.
Further evidence of your wholly confused state of mind in respect of this issue is in your 1.21 pm April 23, 2014 contribution – where you wrote: “PDC, you should put a little more THOUGHT IN YOUR contributions and present them systematically before TRYING TO FORCE YOUR ideas down the THROATS of OTHERS”.
Now, there is another piece of compelling evidence of how and to what extent you have placed yourself in a very pitiful and muddling mess and stupor which we had some time ago forewarned you about on here in a previous post.
For, it is absolutely clear that the tenor, temper, tone and imagery of that last reproduction there from your blog – which clearly inheres and introjects a fulsome personalization of the point – that – in your clearly absolutely failing to mention or to refer to any thing about a possible meeting possible meetings – as an organization – and to instead let the PDC organization further strengthen its policy initiating and deliberating and making agenda by subjecting it entire policy philosophical regime to its own determination etc – that you are not just wrongly, wrongfully falsely referring to the PDC as a single person, but you are also indeed wrongly wrongfully falsely referring to the writer as the PDC.
We would not be surprised to see that you failed to connect with that going bit of dialectical analysis and discourse too.
Boss…you have to be a direct descendent of Job of the bible…known for his patience…..
You trying to talk sense to Dompey and PDC….?
…good luck to you skippa…. 🙂
On careful reflection, I agree that the PDC [or the writer’s] assessment of me is correct. I have learnt the hard way that opposing the PDC will take a vast amount of intellectual and oral skills that I evidently do not possess, and without such, I am clearly out of my depth.
I must thank PDC [or the writer] for highlighting and making me aware of being drunk in my “unintellectual stupor” and “the confusion that exists in my mind”. I also thank you for reminding me of my intellectual deficiencies and from here onwards I will try as much as possible to avail myself to the educational opportunities that exist in Barbados. In doing so, I would equip myself with the relevant knowledge, which would enable me to interact logically on the BU forum.
Hopefully, IF the PDC contests a general election, on election day I would not be a “fumbling stumbling drunken old man who cannot – on a road – find his way home after an evening of drinking himself to drunken inebriation”, but will be able to find my way to the polling station and vote for the PDC candidate in my constituency.
“For, it is absolutely clear that the tenor, temper, tone and imagery of that last reproduction there from your blog – which clearly inheres and introjects a fulsome personalization of the point – that – in your clearly absolutely failing to mention or to refer to anything about a possible meeting possible meetings – as an organization – and to instead let the PDC organization further strengthen its policy initiating and deliberating and making agenda by subjecting it entire policy philosophical regime to its own determination etc – that you are not just wrongly, wrongfully falsely referring to the PDC as a single person, but you are also indeed wrongly wrongfully falsely referring to the writer as the PDC.”
Additionally, if the PDC manifesto contents read similar to the above paragraph, I hope I would have overcame my “deliberately orchestrated unintellectual stupor and drunkenness” and all “evidence of my deliberate state of confused drunken stupor” is removed from my mind, thereby enabling me to comprehend and endorse it.
Once again I thank the PDC [or the writer] for, in Bajan terms, putting me in my place… it was long overdue.
“good luck to you skippa”
I thank you for wishing me good luck. Admittedly Bushie….. dompey and PDC [or the writer] have exhibited levels of intellect that are by far superior to mine. As such, it has absolutely nothing to do with patience…..but a realization on my part that being a fool, I rushed in where wise men never go.
Was this the same Worrell who stated in 2012 that the inflows of foreign exchange from the Merricks and Four Seasons projects were going to boost tourism and foreign exchange inflows?
Once again we see the greater importance in your dealing with the epistemological and philosophical issues raised in the relevant PDC post concerning the inapplicability and invalidity of the theory of demand and supply of goods and services in Barbados, than in being our sidetracked by some of the peripheral issues that we have been recently dealing with on here.
The question therefore remains when or if you are going to deal with those epistemological philosophical issues, for such need to be dealt with now rather than later, as that, as more and more persons in Barbados continue to be indoctrinated with that theory and by many persons especially so-called economists, the worse and worse this country will be become intellectually academically politically and such like, when many of us – individuals and groups – in Barbados, do not understand, accept, and know many of the adverse social political material and financial implications of the continuation with that type of junk theory.
I just love that response to PDC, Shakespeare could not have done better!
On Startrek, there was the collective; the PDC writes and thinks as a collective – one mind. Be careful my friend, you could be assimilated.
Whuloss, man i heah laughing at whu you is contending wid.
De U dat i is mentioning heah is the 21st letter in the alphabet that GENERALLY follows a “T” and not the you that is causing my friend from the Armed Forces and PDC such issues.
This type of loan that Hilford Murrell is suggesting is this not what EGL was set up to do i.e. covert loan to equity?
the Barbados economy will not improve could get when the Chairman of the Central Bank is a dead person with a snake speaking thru him and sitting on the Board of Directors is Mr. Bjorn Bjerkhamn …all this attempt at improving our economy will get no where as long as lodge members control and destroy this economy for their own gain. look how far we have sunk since the lizard is chairman
CORRECTION: the Barbados economy will not improve and will get no where as long as the Chairman of the Central Bank is a walking dead person with a snake speaking thru him and sitting on the Board of Directors is Mr. Bjorn Bjerkhamn …all this attempt at improving our economy will get no where as long as lodge members control and destroy this economy for their own gain. look how far we have sunk since the lizard is chairman
Economic forecasting is na not so sophisticated form of obeah. It does not matter if it comes from as doctor or a drunkard in the local rum shop.
Had ‘Professor’ Frank Alleyne every made any economic forecasts? I am sure that Chris Sinckler would, if he could only spell the phrase without making a mistake.
Ryan Strughn says that even with the layoffs, panic button time is passed. The trajectory for deficit spending is virtually beyond repair. Brace yourselves peoples …
@ BAFBFP | April 25, 2014 at 4:55 PM |
So where does the MoF Sinckler go from here? Pass the sticky end of the stick to Yeswick? It’s time the policymakers take the country to the barber for a haircut.
Who will be making the announcement regarding the real bitter medicine about the currency adjustment. This is one piece of shit the politicians don’t want to touch at this stage.
Would the Guv be man enough to make such an announcement in light of his blindly misplaced braggadocio? Most likely he would proceed on leave- sick or otherwise- conveniently allowing some bureaucrat or deputy to take the heat.
Word on the cocktail circuit is that the wildboys are seriously thinking about Yestwick’s plan. Their backs are so against the wall that they may have no choice!
You are usually so right. That governor has so politicised the Central Bank that morale has gone to an all time low. Staff are so afraid for their jobs, layoffs are coming. The PRO openly wears her yellow party colours and flaunts her authority as if she does not know that one day the Dems will no longer be in power. Are the gov’s days numbered?
By the way, has the cat gotten Stinkliar’s tongue?
Fellow Bloggers, are you all saying to Bushie that we are supposed to be shocked and awed at the apparent hopelessness of our present economic, social, cultural and physical state in 2014?
Wuh it is now full seven years that some of us here have been outlining CLEARLY and consistently the trajectory of our demise. One would have thought that astute BU Bloggers would be well prepared and completely UN-surprised by current revelations… (pun intended)
We have reached a stage where we now have the most inept collection of jackasses imaginable in positions of leadership, …supported by hoards of women and effeminates, who have been empowered (but not enlightened) by Sir Cave Hilary’s misguided and illconceived “education” institute in the hill.
The damn place is inundated with “SHAPERS” ….people who have not a clue about their job, but who are determined to BLUFF their way to retirement. The Governor of the central bank is not the only one….indeed, it is a challenge to identify a single genuinely INTELLIGENT, WISE, and COMPETENT leader in the place…. No wonder our ass will soon be ready for mowing…..
If it wasn’t so devastating and depressing it would be laughable. The end results were clear to Bushie YEARS ago….but have now become abundantly clear – even to ac and Dompey…..
Perhaps now some of us may be prepared to start looking for the only real lifeboat…..
….or perhaps not….cause brass bowls probably feel that they can float out of this storm..
In reality Bush Tea, many of the brass bowls have bricks and mortar in over and away places, not to mention bank accounts as well … Brass bowls only look like brass bowls in public, hear …
…over and away where….? On Mars?
Boss man when the shit hits the fan, our local fallout will be the least of the problems…..
All like Lawson GP, Hants and Well Well going be looking to come back to our little Hell…..to escape the REAL thing up their side…..
…not Sargeant though…. 🙂
Cause his is not to reason why,
…his is but to do and die…
“pieceuhderockyeahright | April 24, 2014 at 6:07 AM |
This octogenarian will bet you that the DLP will loose every single seat when the next general election is going to be called including St John”
I said tomorrow because right now even some hard core Dems -not AC or Hants – are fed up and would stay away from the polls which would give the incompetent strife torn sleeping opposition a chance to win by default. Any thing could happen in four years time.
Can you imagine the Prime Minister indicating to a journalist that in discussions between the BWU and the NCC , the NCC was making sure it did not dispose of its most able bodied workers and was discussing the option of retiring workers over age 60 and the journalist not asking the Prime Minister if he was therefore considering the option of making way for the more able bodied in his Cabinet like Mr Sinckler or Mr Inniss or Mr Lashley.
I still cannot understand the song and dance about the Prime Minister”s pyhrric pay cut if my understanding that THE 10% paycut encompasses all Parliamentarians is correct.
Ha ha ha .. Sargent will outlive us all ….
@ Prodigal Son | April 25, 2014 at 8:29 PM |
The twit “Yeswick” would have to be a political chameleon to change from being a neutered pit bull to a jackass in order to allow himself to be ridden in the coming donkey derby race between the IMF-trained horse of the Apocalypse called ‘Devaluation’ and the Allah inspired angel of salvation called the ‘Genie of Brerton’.
The doctor with the split personality would have to be truly of the ‘asinine’ breed to accept the position of MoF thereby letting Stinkliar off the hook and giving Fumble an alibi not to drink from the chalice of economic poison.
As the real doctor Straughn pointed out, the fiscal disease has spread too far for noninvasive surgery to work at this stage.
They should have listened to Ryan (the boy with his finger in the hole of the dyke) months ago instead of projecting him as some BLP operative with a chip on his shoulder and a grouse or grudge against Dr. Magoo Worrell.
Why would Dr. David want to ‘blackened’ his name as being the man who brought the dreaded devaluation plague to Bim?
What is it with these medical doctors anyway? First it was Dr. Cummins who was in charge when the Federation project failed; then it was Dr. Haynes and the first break up of the DLP and now, in the making, Dr. Genie with some fictitious UAE magic carpet formula to rescue the economy from meltdown.
How long does Fumble have to decide between keeping his money behind Rev. Sinker or switching his luck to Dr. Genie?
The IMF has set a timeline of June 2014 for forex earnings to improve and fiscal discipline returned to a satisfactory level of performance.
We shall soon see (as Fumble previously described the BLP pre-election hustled activity) if the upcoming race is just an exercise in futility similar to a one-horse morning outing at the Garrison before the big race day.
Retribution can a bitch returned to bite you, my friend Fumble from Molasses Hill.
Imagine that on the Getting to Down To Brass Tacks program going on now – Sunday, April 27, 2014 – Dr. Clyde Mascoll – as part of a panel – is saying that Price is what ALLOCATES (goods and services) in a market? Imagine that??
He must be told in – no uncertain terms – that there is objectively materially no such thing as PRICE.
For, PRICE is a psychologized digitized subjective character.
PRICE is only visualized in the minds of the relevant people.
It is such untruthful unscientific thinking that is helping to make economics the most discredited of the social studies disciplines in Barbados and world over.
The fact is that any ALLOCATION of anything in the goods and services market comes about through the human politics the mechanization the motorization related to movement distribution of goods and services in that market.
For one moment have you considered that both you and Mascoll agree?
On Sunday, 27 April 2014, Barbados Underground wrote:
Out of interest as to the profoundity of your posts I was intrigued as to the depths of your blogs and I went to see something about you and was led to the site called http://caribbeanelections.com/barbados/candidates/pdc_candidates.asp
Which of the two of you (you here being the second person plural, i feign would not wish to offend the collective with the use of the wrong pronoun) but which of the two of you submitted this post of April 27, 2014 at 11:41 AM |?
To those listening to the Corey Layne hosted talk show today the suggestion made by economist Wayne Lovell about Barbados building out transshipment and dry docking was first mooted by the Cement Man on the same talk shows before he dies.
On Sunday, 27 April 2014, Barbados Underground wrote:
I missed the news that Barbados was again tops in Investor confidence in the sub region. Would someone point me to the source of the story and précis it for myself and any others of the BU family who might have missed this very important news.
The article was posted under the Adrian Loveridge blog.
Interesting to read in today’s press former assistant general secretary Bobby Morris calling for an a valuation of the social partnership. We on BU have been saying the same thing for a little while. Of course his comment contrast wildly with what Governor Worrell expressed at the Peterson Institute above.