Barbados Estimates 2016 – 2017
Mia Mottley, Leader of the Opposition
Minister of Finance Chris Sinckler
The Barbados Estimates Debate for 2016 – 2017 is currently being debated in Parliament. Although many Barbadians are sucked into the theatrics of the annual budget presentation, the more meaningful debate about ordering the country’s finances is meant to be discussed in our system of government in the Estimates debate. It is now evident that the government through its agent the minister of finance has not been honest with the people regarding the finances of the country. Also disappointing in the last year has been to observe the the reputation of the Central Bank taking a huge hit. Further we have had our leading bankers who should know better supporting the charade of Pinokio politics.
Follow the debate on CBC 100.7 and Parliament TV.
Barbados Underground 
From a public relation perspective what poor timing and isensitivity has the Bwa demonstrated towards the public by advancjng strike action which would cause more suffering for the population that have slready been hit with low water pressure or having limited daily acess to water
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ac
Low water pressure/limited daily access to water? You like you been living on Mars.
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AC…how would you like someone owing you money for 10 years, refuse to pay, but can find millions of taxpayer’s dollars to waste, in this case the government and millions more to steal for themselves, in this case the government…jackass, the workers also have families to feed and children to send to schools and universities.
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Yesterday the MoF assured Barbadians that the country will NEVER default on loan commitments. He based his answer on the fact the government prioritizes how it’s allocate the national budget, first debt, then education, health, security, waste management etc. the question for the MoF is if the government had to allocate 60+ cents out of every dollar to debt servicing, what measure of control does he have and what credibility can he have to support his assurance to Barbadians.
There is no wiggle room Minister!
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“Damn he could lie, he is a BOSS liar.”
+++++++++++++++++++++++++++++++
Worse…
He is a Stink Liar….
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@ Bush Tea
what was most concerning was his very vocal defence and support of Mark Maloney of Preconco whom he declared was the best businessman in Barbados.
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One thing for sure the finance Minister rebuttal was spot on !well delivered!and execute with percision while withholding no bars at the persons/ person mostly OSA responsible for barbados balloning debt.
It is jndeed a travesty that during the high days of pomp and glory that much of that money was not spent to rebuild the infrasturcture but was handed in many forms and fashion to feed a few
Now in hindsight when all of the dust is cleared and the facts are presented in Parliament the only response of objection coming from the Blp was dead silence.
Yes barbadiams was taken on a roller coster ride by the blp but now the wheels have fell off and the coaster was seen falling to the ground
Btw was Mia LEC a part of the discussion.
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Ceteris paribus!
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Common sense seems to be a difficult attribute to gain, especially when one assumes the role of a political yard-fowl.
The only way debt could “balloon” is if a country keeps on borrowing and fails to meets its repayment commitments.
However, according to the Nation News of April 26, 2013:“Government might be strapped for cash on some occasions, but Finance Minister Chris Sinckler says the state has never defaulted on local or foreign debt.”
Hence, repaying loans obviously translates into a reduction of debt.
So, do you care to explain to BU, (without using your usual generalized statements and rhetorical party political diatribe), how Arthur is “responsible for Barbados’ ballooning debt” eight years after demitting office and against the background of Sinckler admitting “government has never defaulted on local or foreign debt?”
Ceteris paribus indeed, David.
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What Sinckler and the other politicians need to do, is try getting a job from Mark Maloney when the electorate read…the 95% majority black people…throw their asses out of parliament. ..and they can take their yardfowls with them when they go begging Maloney for job…ha
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WW&C
why do you have to colourize everything? Every gov’t has to work with the private sector, unless you wish a Cuba, and even now they are working with private interests.
One is forced to work with those who will work with you. They may not be your first choice, even your second….but….you need jobs.
it is the same…95% majority black people…that put their asses in parliament?
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Northern….you missed the point…the politicians suck up to, kowtow to, lick ass of the minority business people on the island, sell the majority blacks to them, give the best contracts to them..there are less than 10 percent minority on the island…who are not enough to vote the politicians in….will never be enough to vote the politicians in…they will always need the 95% blacks on the island, both the politicians and the minorities…the majority blacks can vote their asses out or in….
The minorities will not help the politicians when that happens, because they have already used up that lot of of pokiticians to accumulate as many millions as will last them for the next 5 years….. after which, they will just move on to the party in power….and repeat.
What is so hard about that to understand Northern…that is the reality that is Barnados, as long as it continues to be that way, that is the way I will continue to describe it….reality should not be clothed in bullshit.
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*Barbados
Ya gotta fogive me….these damn little gadgets are hell to type on…lol
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@NorthernObserver
Not sure if you read the blog below that deals with the topic of corruption? Politicians need money to run campaigns. It is a reality of the system of government we have in the western hemisphere. The money class will always be able to exert influence. The challenge will always be for civil society to implement measures to mitigate.
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@AC
i too was shocked at the insensitivity of BWA employees. The audacity?
In fact, I believe all members of the over employed public service, should voluntarily agree to a 2yr reduction in pay of 20%. because if they fail to do that, and the gov’t by any strange chance were to lose the next election, a large number of them might become unemployed.
They have no blasted respect for the extensive efforts being made to keep the good ship Barbados afloat. What an ungrateful and unappreciative lot!!
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@ Artax
Arthur is ‘responsible’ because, for the last 8 years, Stinkliar has been BORROWING money from bank A to pay back bank B …. in the process, simply rotating the debt from one credit card to the other ..while incurring even more interest charges…
For example, he ‘brilliantly’ borrowed from FCIB to pay a deposit in the Central American loan scheme ..so he can borrow from them to pay off other due debts..
Stinkliar’s argument is that – if Arthur had not borrowed in the first place, then he would have had the leeway to now go to town with ‘real-real’ borrowing… 🙂
He seems to have no concept of actually taking EARNINGS to pay off debts incurred in the past… and thus reducing one’s indebtedness…
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Northern. ..why else do you think the majority blacks in Barbados are ALWAYS the losers, always…the shithounds for politicians will have it no other way and the minorities are happy that the black politicians are shithounds, it benefits them immensely and that is how it has to be described or all involved will continue to pretend it’s not really happening while collecting millions of dollars in taxpayers money to enrich themselves….while the majority blacks will continue to feel the negative effects and fallout of those corrupt alliances that auto repeat themselves every 5 years like clockwork.
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But the monied class depend on the corrupt politicians. …so that they can stay MONIED, that’s how they got monied to begin with back in the late 70s and 80s and because the minorities stay monied, corrupt politicians have a chance of staying monied as well….and only need the 95% blacks to keep the political parties in play, by voting them in….it’s an extremely nasty cycle…if you can understand it….but it needs to be broken and it’s head cut completely off.
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@WW&C
No. No. They do business with [suck up and cowtow] to those who will play ball with them.
You wish to blame those who are corrupting or those who are corruptible?
Watch FIFA???
After denying for years there was any form of corruption, they now say [cause those to blame are gone],,,yes there was corruption…but please give us back OUR money?
If you wish to play the colour card, go blame those who can say…..sorry we are interested in what is best for our citizens, who elected us. If you wish to contribute, please do so by lowering your cost of this public project.
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It is the same everywhere
Former Quebec deputy premier Normandeau arrested in corruption probe
http://www.thestar.com/news/canada/2016/03/17/former-quebec-deputy-premier-nathalie-normandeau-reported-arrested.html
But at least in Canada corrupt politicians get arrested – SOMETIMES
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@David
you appreciate the dilemma.
Personally I have no solution. Buying influence is as old as Methuselah.
CNN have a show called the White House, and even back when Lincoln was nominated, the convention was all about who would get what “if they supported”.
In retirement, I am studying the Cdn Lumber industry, As far back as the 1870’s, the lumber mill owners were positioning facilities a la Sandals, based on concessions. They then would become huge employers, and sans unions, the employees and families would vote how they were told would ‘keep their jobs’, hence the mill owners became invaluable to the political class.
Same shiite, different methods.
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@Bush Tea
Just imagine if OSA did not borrow and left two billion in forex!
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Not having to explain nothing to u .They are factors that can cause debt to ballon mostly high interest rates a factor which OSA did not carefully take into consideration on some of the loans. The minister of finance did make mention of OSA accessing loans with interset rates as high as nine percent
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@DD
LOL…you have to screw up real bad…but sometimes they become so numb and arrogant they think getting caught is an impossibility.
http://www.thestar.com/news/canada/2016/02/24/mcguinty-aides-in-gas-plant-scandal-back-in-court.html
This is the one to watch. I am sure they were “fall people”, yet the rumour is they are being hung out to dry. I will believe that when I see it. Livingston did a lot of dirty work. Unless they cut him a deal, he can expose too much.
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The question is…if you were MoF tomorrow morning (I know that is not something which gives me the good feels), what would you do?
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@NorthernObserver
Establish an interagency committee with a mandate to list 100 ways to improve the government. Pay bonus based on results. The point is that there must be synergy to how government functions.
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“.They are factors that can cause debt to ballon mostly high interest rates a factor which OSA did not carefully take into consideration”
Do you think we are all idiots? OSA last ruled in 2008. Do you wish us to believe that since then…7+ years ago… the gov’t did not know what loans they had and what the interest rates were? And since world rates have declined, any flexible rate loans will have come DOWN not gone UP. (not attributed to anything other than world rates have moved…not affected by any B’dos gov’t).
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@David
that will take 1 year to appoint, and 3 years to get a report. And then who knows what will be accepted.
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Northern. You talking foolishness on your rant and rave on the application of interest rates towards loans ..again there are mitigating factors which are taken into consideration.
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Northern…dream on…but let’s go ask all the politicians nicely to not be corrupt, do not take bribes from or try to extort money from the minorities AFTER they have given them contracts worth millions of dollars…I am game to try anything at least once, if you are…think about it, they might actually stop thinking of banking millions of dollars long enough to listen to the 2 of us…lol
Due Diligence. …exactly, Canada will lock up their crooked politicians at some point in time but Barbados will not do the same.
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“again there are mitigating factors which are taken into consideration”
I believe you. WHAT are those factors?
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@ NorthernObserver
The BU household commends your patience AND tolerance for pain.
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some days I am bored….I know better but enjoy the amusement
I grew up with Auntie P, she came to live with us after her husband died. Her only son lived abroad, I never met him, but she had this framed pic next to her bed.
She was a lifelong B supporter. At 11’ish on whenever Brasstacks-Gutterperk or whatever it was called came on, we all had to hush up, preferably leave the home, and Auntie would turn on de ray-dee-yah and crank the volume, for she was a little deaf.
If a B supporter was on…one would hear…”yessss, yessss, dat is my boy, you tell dem yard fowls, you sweet boy, real sweet”. If it was D supporter you would hear “Steups, Steups, wha de ass you know, idiot, why you doan crawl back in yah hole, you and you old swibbly face”.
There was never any logic to any discussion beyond the views espoused by others and her determination of whether it was B view or a D view. And she learned to regurgigate some of what she heard, which we could always stump her on.
We never knew the father of her son (not sure she did either), but one day I placed a picture of EWB next to her son’s pic and said “look at those two, you sure EWB ain’t he fadder, dem look nuff alike”. That received such a loud response, I did it a few times after too.
So comic relief. The resident supporter reminds me of Auntie P.
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http://www.cnbc.com/2016/03/17/why-island-nations-are-less-likely-to-default.html
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Didnt minister Donville claime he has bills to pay too when ask to take a paycut?
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The Water Resource Management Minister told workers to think about the impact their action will have on the institution:
“You cannot hold a view that an institution is to pay people for what ought to have been put in place, when the tools to determine what to pay them and over what time to pay them does not exist. And at a time when the quantum that is required will now be the based on which the new salaries are to be determined; that would bankrupt the institution for the next 25-years.”
Estwick certainly made hismposition perfectly clear.
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You cannot explain anything because you don’t understand what you wrote about, you are only regurgitating what you heard.
It seems as though the consortium of yard-fowls goes into George Street, hear Reggie, Jester and Todd talk shiite, then run to log on to BU with the same shiite hoping we believe it is factual.
The mere fact you wrote “high interest rates can cause debt to balloon” proves beyond reasonable doubt that you are ACCOUNTING ILLITERATE when it comes to financial matters.
If, for example, a government borrows money at a FIXED INTEREST RATE of X% per annum (fixed debt) for 10 years, the repayment and interest rate DO NOT INCREASE unless the debt is renegotiated or restructured.
DEBT is a LIABILITY and the INTEREST incurred as a result of that debt is an EXPENSE, which is reported in government’s expenditure.
What you and Sinckler seem to be forgetting is that the consecutive credit rating downgrades Barbados received under his watch, increased the cost of borrowing.
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Stealing money from BWA also bankrupts the institution, but thst does not stop the thieves, why should the workers care since having the post neither him nor his predecessors thought it important enough to ““You cannot hold a view that an institution is to pay people for what ought to have been put in place, when the tools to determine what to pay them and over what time to pay them does not exist. And at a time when the quantum that is required will now be the based on which the new salaries are to be determined;”
What the hell do they do at their desks all day long for years and decades that this issue was never addressed…why did they not put the necessary tools in place…the lazy so and so had 10 years to address the matter.
The workers are right.
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Today the MoF does not only pay high interest, but he also pays interest out of new debts. In other words he pays interest on interest. That is a classical textbook example for the highway to hell. See: https://en.wikipedia.org/wiki/Wheat_and_chessboard_problem.
When OSA was in charge, he paid interest out of revenue. That is a serious difference.
And by the way, the interest of the Credit Suisse loan is not fixed, but gets higher and higher by the ongoing downgrading. No little detail.
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Tron March 18, 2016 at 11:26 AM #
“When OSA was in charge, he paid interest out of revenue. That is a serious difference.”
@ Tron
Sinckler forget to mention that little detail.
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Sir “if”s does not form a reality. i do understand how interest rates are measured and applied favourably or negatively to ones credibilty I am not here to proposed an “if”as a fact.The fact being that barbados debt and high interest rates are tied. The fact also is that borrowing at high interest rate or even low rates is not a sure proof guarantee that one can repay the loan within its subjected time period which can balloned the cost of the loan. in an economy that has limited resources and is mostly dependant on one source of revenue derived from Tourism ..it is a high possiblity that when that source fails to generate sufficient revenue failure for barbados to make payments on time can put barbados at high risk for escalating payments.
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@Tron
you are correct.
DLP supporter “ac” was telling us exactly this. Hence why the credit rating of Bim was tied to ‘ballooning interest rates’ and what was termed ‘mitigating factors’.
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So what does my support have to do with financing or terms of a loan
Unfortunately for Barbados it was caught with its wheels tied to a one basket economy in a global economy and when that basket has leakage some of the benefits dreived are lost
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@ Artax March 18, 2016 at 10:05 AM #
“DEBT is a LIABILITY and the INTEREST incurred as a result of that debt is an EXPENSE, which is reported in government’s expenditure.
What you and Sinckler seem to be forgetting is that the consecutive credit rating downgrades Barbados received under his watch, increased the cost of borrowing”…………..
Artax,
Did you read in today’s paper where the Stinkliar is quoted as saying that the Democratic Labour Party government had only borrowed three times since it came to office and that some of that money went to paying off debt racked up by the BLP.
If we never believed that this man was not only incompetent and arrogant but the biggest LIAR there ever was (after the dead lying king)………we now have proof!
I feel for my country!
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Fighting Weak, Corrupt Leaders.
“AS CORRUPTION SCANDALS rattle Latin America, many observers are asking if the region will ever shake off its legacy of weak institutions. I believe the answer is yes. My optimism is based partly on the history of the United States (US), founded by leaders who were highly concerned about corruption; by some accounts, they devised the constitution with the specific goal of vaccinating the new republic against.
Despite their efforts, however, the US government soon became as venal as any of the old regimes in Europe – and, as Francis Fukuyama has argued, remained so for more than a century. Even after the US finally started cleaning up the Federal government, political patronage endured at the state and municipal levels. Policies to increase government transparency, such as the Freedom of Information Act, did not come into force until the 1960s.
Today, Americans still worry about the influence of money in politics, as demonstrated by recurring arguments over campaign finance in their current presidential primaries. But there is no denying that the US government today is infinitely more virtuous than it was in the days of Thomas Jefferson, Abraham Lincoln, or Teddy Roosevelt. Viewed from Latin America, the US experience is a reminder that strong institutions emerge at a glacial pace, thanks to the cumulative efforts of generations of reformers. The lesson of the US and other countries is that countries need three ingredients to combat corruption: a strong legal framework, committed leaders, and sustained public support.
The first ingredient should not be a problem for Latin American countries (many of which drew from the US constitution in writing their own fundamental laws), though consistent enforcement remains a serious weakness. As for the second, numerous courageous individuals have stood up for probity, though they have largely been ignored or ostracised. The third ingredient – popular mobilisation against corruption – has been the most difficult to obtain, as Latin Americans have historically tended to be tolerant of pilfering by politicians. Brazilians even had a saying to excuse malfeasance: rouba mas faz (he steals, but he gets things done).
This seems finally to be changing. Across Latin America, citizens are taking to the streets to say of corruption: ya basta (enough is enough). These are not just isolated protests against specific policies that harm their particular interests; demonstrations now involve a broad cross section of society, including, most crucially, the region’s emerging middle class. Moreover, unlike in the past, today’s corruption scandals are being investigated and prosecuted with unprecedented independence.
Courts in countries as diverse as Brazil, Chile, Colombia, and Guatemala are indicting and even jailing prominent politicians and business people. In a region long inured to impunity among political and economic elites, this amounts to a tectonic shift. Should this popular and judicial pressure persist, as seems likely, it could create the conditions in which many other reforms can succeed.
Since returning to democratic rule in the 1980s and 1990s, many Latin American countries have been quietly working to strengthen their political systems’ checks and balances, from enhancing the legislature’s authority to analyse budgets and monitor spending to reinforcing the judiciary’s capacity to prosecute complex financial crimes. Several countries have recently introduced enhanced safeguards against tax evasion and money laundering.
And some are trying to reform their police and adopt a more strategic approach to fighting drug trafficking and organised crime. These are the kinds of unglamorous changes that rarely generate headlines. Yet they are indispensable to building trust in public institutions – which in turn is essential to economic progress. As it stands, a lack of confidence in institutions is not only discouraging long term investment; it is also driving roughly half of Latin America’s small business owners to operate in the informal economy, thereby avoiding laws and taxes they believe will applied unfairly.
At a time when sluggish global growth and falling commodity prices demand rapid productivity growth, Latin America’s economies cannot afford to be hobbled this way. By and large, Latin America’s elected officials are getting the message and rushing to join good governance initiatives, such as the multilateral Open Government Partnership. It is time for the private sector, which has all too often tolerated corruption as an unavoidable cost of doing business, to take a stand as well.
If the region’s political and business leaders add their voices to the protests against corruption, Latin America can achieve a definitive break with the past, ensuring that all citizens can count on the fair implementation of the rule of law to enable everyone to reach their full potential.
See more at: http://www.nationnews.com/nationnews/news/78918/baby-steps-curbing-corruption-latin-america#sthash.lBJhtOCY.dpuf
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The more you comment on this issue, the more you are revealing your IGNORANCE of financial matters (not that this is something with which BU is unfamiliar). Whereas my hypothetical example “mirrors” reality, your response is very much far from reality and being factual.
Could you PLEASE EXPLAIN to BU how your following comments are APPLICABLE to Barbados’ situation, when Sinckler is on RECORD as SAYING Barbados has NEVER DEFAULTED on PAYING its debt obligations?
a) “The fact also is that borrowing at high interest rate or even low rates is not a sure proof guarantee that one can REPAY the LOAN WITHIN ITS SUBJECTED TIME PERIOD which can balloon the cost of the loan,”
b) “It is a high possibility that when that source fails to generate sufficient revenue failure for Barbados to make payments on time can put Barbados at high risk for escalating payments.”
Note, I have presented, as follows, evidence of Sinckler having made those comments on three different occasions in three different years……….. 2013, 2015 and 2016
1) “Government might be strapped for cash on some occasions, but Finance Minister Chris Sinckler says the STATE HAS NEVER DEFAULTED on local or foreign debt.” [Nation News of April 26, 2013]
2) In a ministerial statement delivered in parliament on July 21, 2015, Sinckler DENIED government had DEFAULTED on the Credit Suisse or ANY of its OTHER debt obligations. [Caribbean 360, Wednesday, July 22, 2015]
3) “Sinckler maintained that Barbados had “NEVER DEFAULTED” on ANY of its EXTERNAL or LOCAL loans and “so it will remain.”…” [Nation News, March 13, 2016]
Now, BU knows that everything Sinckler says is “the gospel” for you, so I know you believe his comments that Barbados has NEVER DEFAULTED on its local or international DEBT OBLIGATIONS, even if that debt has an ASSOCIATED HIGH interest rate or LOW interest rate.
Your own Sinckler has PROVEN that your comments are not only ERRONEOUS, but you do not have any KNOWLEDGE of financial matters.
Perhaps you should CEASE ENGAGING in political yard-fowl rhetoric, “VERBAL GYMNASTICS and CONTORTIONS,” and explain how Arthur is RESPONSIBLE for the “ballooning debt.”
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This corrupt government promised in 2008 that 40% of all govrnment contracts would go to the small black man.
Not only did they renege on that promise, the small black man does not get even 1% this Mark Maloney, Jada, Innotech and Bizzy get 99%……………….the small black man is left to suck salt.
The DLP gets its returns on the 99%. So why would the man who holds the bag for the treats in return not shower praise the person who gets most of the government contracts?
Forgive me but was there not a time when this DLP spewed hatred for white people?
Remember all the talk about white shadows?
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Art…AC is just sputtering these days, she barely got life left in her, when DBLP are voted out and thrown out of government buildings on their corrupt asses by the 95% majority, she will be on BU playing another loser role as the resident yardfowl….as a matter of fact, given what a snitch she is, dont be even a little bit surprised if she becomes Mia’s newest yardfowl….lol
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Sir your understanding of what Sinckler said “default” is subject to intrepretation .
Making a late payment is not the same as a default. The default occurs when the bank make steps to recover the payment after negotiations or collection attempts failed. So yes he is right in saying that the country never defaulted
However if the loan becomes late for thirty days a service fee might apply which affects the principle .also the latitude of having a small interest rate on the loan can change within time.
Btw i think the MOF made refernce to a loan which was “called in” under his watch and he did make the full payment in avoidance of default.
The refernced loan was made by the blp at a high interest rate.
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ssshh…ac is very valuable….the tone and arguments are like a weather vane.
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@PS
the majority of them detest white people. But effin you en notice the colour of money is de same regardless of its source?
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@WW&C you can bet your lucky stsrs that as long as Mia is the leader of the blp the party would be seated on the back bench
She has proven to be a dismal failure in her leadership with her own party.
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if I was the BLP I wouldn’t even run a full slate of candidates. Do you really want to be at the wheel when the shit hits the fan? that is a guaranteed one term, and only the good Lord knows the damage. If I were them, i would gladly give the D’s another term.
I am 99% sure the country can eke out another year, rough waters, but the ship will not sink. After that it is anybody’s guess. Let the current captains negotiate those waters.
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Budget speeches:
Lots of talk, no action to reduce deficit. Same game of the Democratic establishment since 2008. We should not expect any improvement towards a balanced budget, but hot/cold default or devaluation within the next 2-3 years.
Hint to the opposition: Instead talking and talking, look at Trump how to make your speeches as powerful as possible. He is very, very good in that (let alone the content).
By the way: Who owns the black Big X in front of Parliament?
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“Due Diligence March 18, 2016 at 9:05 AM #
The Water Resource Management Minister told workers to think about the impact their action will have on the institution:
“You cannot hold a view that an institution is to pay people for what ought to have been put in place, when the tools to determine what to pay them and over what time to pay them does not exist. And at a time when the quantum that is required will now be the based on which the new salaries are to be determined; that would bankrupt the institution for the next 25-years.”
Estwick certainly made hismposition perfectly clear.”
It seems you are allowing undue diligence to trump due commonsense. By the way, Mr Estwick is discredited. No one takes him seriously anymore apparently except you. What little credibility he garnered as opposition spokesman on finance and as Minister of Economic affairs has been thrown away on the altar of expediency
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‘rtax,
Did you read in today’s paper where the Stinkliar is quoted as saying that the Democratic Labour Party government had only borrowed three times since it came to office and that some of that money went to paying off debt racked up by the BLP.
If we never believed that this man was not only incompetent and arrogant but the biggest LIAR there ever was (after the dead lying king)………we now have proof!”
Prodigal you should also believe that over 40000 thousand supporters of the DLP at home and abroad believe that rubbish too and dutifully spots it as gospel. You need a more effective propaganda machine.
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the blp at all cost should try to avoid using the word “corruption ” as it is a reminder of the good ole days when the blp was in power,
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AC…but so has Fruendel and DLP, proven themselves to be failures…so where does that leave the people and country…where.
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The FINAL shame on Barbados is the fact that the BLP had the audacity to seek to foist the same set of dishonest rejects on to the electorate last election that had been kicked out for blatant bribe-taking, cost overruns, and downright dishonesty previously.
You mean to say that a WHOLE damn party could not find 30 untainted candidates to represent a potential new start OUT OF RESPECT OF THE VOTER’S WISHES?
Steupsss…
…because of this BLP shiite, AC March 19, 2016 at 6:44 AM has finally said something profound……
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balance March 19, 2016 at 3:41 AM #
“It seems you are allowing undue diligence to trump due commonsense. By the way, Mr Estwick is discredited. No one takes him seriously anymore apparently except you. What little credibility he garnered as opposition spokesman on finance and as Minister of Economic affairs has been thrown away on the altar of expediency”
“Estwick certainly made his position perfectly clear.”
You missed my sarcastic intent.
“You cannot hold a view that an institution is to pay people for what ought to have been put in place, when the tools to determine what to pay them and over what time to pay them does not exist. And at a time when the quantum that is required will now be the based on which the new salaries are to be determined; that would bankrupt the institution for the next 25-years.”
What the heck does that mean?
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Due Diligence. ..in Bajan speak it means that Estwick has been sitting on his ass for 5 years and not doing his job, so had his predecessors, both sides of the same coin just sit at their desks when they get these ministerial portfolios and do nothing, look at the state of the QEH after Jerome Walcott and Donville Inniss…all they do is talk, lie and play dirty politics.
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@ Due Diligence March 19, 2016 at 9:48 AM
“You missed my sarcastic intent.”
Sarcasm (or even ‘reading between the lines’) is not an intellectual tool in the language kitbag of the average Bajan permanently resident on the rock. Sarcasm is seen as a ‘curse word’ in their lexicon.
See it in the same superficial light as their believing literally in the Adam & Eve 6 day Creation story.
What Estwick said is just a heavy load of political bullshit aka gobbledygook.
He has now become the King Kong lookalike buffoon of Parliament.
His dead brother is most likely pissed with his betrayal of loyalty to commonsense.
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now you confusing me ac. Don’t do that, I am simple fella, who gets accustomed to routine.
“a reminder of the good ole days when the blp was in power,”
Steupsss…ya mean they were good days when the D’s were not in power.
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“However, IF the loan becomes late for thirty days a service fee might apply which affects the principle .also the latitude of having a small interest rate on the loan can change within time.”
Remember, in a previous contribution you wrote: “ac March 18, 2016 at 1:09 PM #: “Sir “if”s does not form a reality. I am not here to propose an “if”as a fact.” So, writing “However, IF..” you are essentially engaging in an action you criticized. This is exactly what Stuart meant when he used the term “sanctimonious hypocrisy.”
Once again you are INCORRECT. Late payment on a loan may attract “fees” but those fees are not ADDED to the principle. Any service fees or interest debt incurs becomes an expense to the borrower.
By your comments, you seem to be implying that because the BLP may have borrowed funds at high interest rates in the reason why your DLP administration is making repayments “thirty days late” and a “service fee” being applied.
Surely you CANNOT BLAME Arthur or the BLP when the MoF makes a loan repayment AFTER the DUE DATE, thereby attracting a “late payment fee.”
Also, ACCORDING TO YOU, “the MOF made reference to a loan which was “called in” under his watch and he DID make the FULL PAYMENT in AVOIDANCE of DEFAULT.”
If we were take your argument to a logical conclusion, then the only reason why the loan was “called in” was “STEPS to RECOVER the PAYMENT after NEGOTIATIONS or COLLECTION ATTEMPTS FAILED.”
The more you comment on this issue, the more you are REVEALING your IGNORANCE of financial matters. After engaging in “verbal gymnastics and contortions” you have failed to explain to BU how Arthur became responsible for a loan “ballooning.”
It seems as though you are receiving your information from my sporty friend Jester “Physical Deficit” Ince. It would do you much better if you were to consult with Darcy Boyce instead.
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MIA has spoken…..
http://www.barbadostoday.bb/2016/03/20/mia-wants-apology-from-sinckler/
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Sometimes a entry goes too far on the partisan side, but this one seems mostly balanced. These situations can be very useful to discuss particularly at this time. This pattern of discussion is pretty common among the more reserved, or old school.
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