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Macroeconomic Options for Very Small Open Economies

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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]

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103 responses to “Macroeconomic Options for Very Small Open Economies”

  1. PLANTATION DEEDS FROM 1926 TO 2014 , MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS OF BARBADOS, BLPand DLP=Massive Fruad Avatar
    PLANTATION DEEDS FROM 1926 TO 2014 , MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS OF BARBADOS, BLPand DLP=Massive Fruad

    http://business.financialpost.com/2011/07/13/peter-allard-donates-11-86-million-to-ubc-law/

  2. David Avatar
    David

    Those who don’t want to listen to the 2 hr exchange tune in from 1.10.

  3. Lemuel Avatar
    Lemuel

    David:

    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.

  4. David Avatar
    David

    He represented his position well which is based on judement however.

  5. Lemuel Avatar
    Lemuel

    David:

    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!

  6. Lemuel Avatar
    Lemuel

    David:

    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.

  7. Lemuel Avatar
    Lemuel

    David:

    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.

  8. Georgie Porgie Avatar
    Georgie Porgie

    LEMUEL
    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?

  9. Lemuel Avatar
    Lemuel

    I can agree Georgie.

  10. Lemuel Avatar
    Lemuel

    David:

    You normally has a soft copy of the Auditor General’s report; where is it?

  11. David Avatar
    David

    @Lemuel

    An Invisible Auditor General

    Posted on April 12, 2014 by David | 50 comments

    Auditor General, Leigh Trotman

    Auditor General, Leigh Trotman

    However, a second driver for the interest in the performance and capacity of PACs has been the global interest in governance and oversight and in the role of parliament in curbing corruption – (Stapenhurst et al., 2006).

    What is certain about this time every year when the Auditor General releases his report is to expect the same trite remarks to be made by all and sundry led by the politicians. The traditional media takes the opportunity to relieve itself of the responsibility to report on the findings for a few days by sensationalizing an aspect of public sector malfeasance which is bound to manifest itself in the report.  Then business continues as usual until next time around.

    http://barbadosunderground.wordpress.com/2014/04/12/an-invisible-auditor-general/

  12. ac Avatar
    ac

    http://www.nationnews.com/articles/view/export-lift/

  13. David Avatar
    David

    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?

  14. David Avatar
    David

    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.

  15. ac Avatar
    ac

    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

  16. dompey Avatar
    dompey

    David

    If you want to know more about the above mentioned organization, Google. You’re as intelligent as the BU intelligentsia, you forms its core.

  17. The People's Democratic Congress Avatar
    The People’s Democratic Congress

    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.

    PDC

  18. ac Avatar
    ac

    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,,,,,,

  19. David Avatar
    David

    @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.

  20. David Avatar
    David

    @Domkey

    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.

  21. ac Avatar
    ac

    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,,,,

  22. David Avatar
    David

    @ac

    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.

  23. Lemuel Avatar
    Lemuel

    David:

    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.

  24. pieceuhderockyeahright Avatar
    pieceuhderockyeahright

    @ Lemuel

    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….?

  25. David Avatar
    David

    @Lemuel

    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.

  26. David Avatar
    David

    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.

  27. The People's Democratic Congress Avatar
    The People’s Democratic Congress

    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.

    PDC

  28. Artaxerxes Avatar
    Artaxerxes

    @ PDC

    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.

  29. lemuel Avatar
    lemuel

    David:

    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!!!

  30. The People's Democratic Congress Avatar
    The People’s Democratic Congress

    Artaxerxes,

    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.

    PDC

  31. ac Avatar
    ac

    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

  32. The People's Democratic Congress Avatar
    The People’s Democratic Congress

    In the PDC post just now – in the first paragraph of it, we are referring to the definition that wikipedia.org has published.

    PDC

  33. lemuel Avatar
    lemuel

    ac

    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.

  34. ac Avatar
    ac

    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

  35. lemuel Avatar
    lemuel

    AC

    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.

  36. dompey Avatar
    dompey

    David

    “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!

  37. BAFBFP Avatar
    BAFBFP

    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 …

  38. BAFBFP Avatar
    BAFBFP

    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 …”.

  39. Well Well Avatar
    Well Well

    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…

  40. David Avatar
    David

    @Lemuel

    The Governor’s point is the most of the debt is local, we owe ourselves, repaying bondholders will come out of domestic incomes.

    @Baffy

    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?

  41. ac Avatar
    ac

    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

  42. Hants Avatar
    Hants

    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.

  43. BAFBFP Avatar
    BAFBFP

    Lems
    “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 ..?

    David

    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?

  44. ac Avatar
    ac

    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.

  45. Artaxerxes Avatar
    Artaxerxes

    @PDC

    “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.

  46. Artaxerxes Avatar
    Artaxerxes

    @ ac

    “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.

  47. The People's Democratic Congress Avatar
    The People’s Democratic Congress

    Artaxerxes,

    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.

    PDC

  48. ac Avatar
    ac

    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.

  49. Well Well Avatar
    Well Well

    AC……..what will you say when it all BACKFIRES……what then?

  50. LOOK Avatar
    LOOK

    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.

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