The man told a bold faced lie on DLPTV tonight ……….the man said in Guyana that unemployment is down to 9% and that jobs are coming back. Fumble, where? In Barbados? You have been travelling overseas too much….you got to be mad. Just last month in the CBB report, the governor said that unemployment was 11% (which is another big lie……..unemployment has to be over 20%), so how could it drop by 2% in 30 days? You ever see lies?
In that article, I argued that if we paid a little more attention to our labour force participation rate, and less attention to our more contentiously calculated unemployment rate, then we would end up having a far better understanding of the nature of our unemployment problems.
From the outset, let me state that I have witnessed the published unemployment rates being used by some individuals to praise the Owen Arthur administration for its handling of the Barbadian economy over the period 1994 -2007. Likewise, I have seen the similarly calculated published unemployment rates being used by the same individuals to lambaste and berate the Freundel Stuart administration for its perceived mishandling of the economy since 2010.
Now that recently published figures have shown that, at March 31st 2016, the unemployment rate stood at 9.3%, I therefore find it disingenuous on the part of some individuals to dismiss this figure out of hand, and to assert that the true unemployment rate has to be 20% or more. If individuals want to demonstrate consistency in their arguments, they must now offer congratulations to Mr. Chris Sinckler, the Minister of Finance in particular, and to the Freundel Stuart administration in general, for getting the unemployment rate down to this level.
I am acutely aware that fertility rates, unemployment rates, and labour force participation rates are esoteric subjects, so I will quickly present a few numbers to stimulate some thinking about our unemployment problem.
The total labour force represents the amount of working-age Barbadians who were educated and kept alive by some of the taxes which we all paid over the years. They represent a national resource that the country invested in, and is now looking to get a return from. Of course there are some individuals (those imprisoned, those in mental institutions, those deemed medically unfit to work etc.) who must be excluded from the workforce for practical reasons.
In 2013, our labour force was 214, 000. At March 2015, it was 224,000. At March 2016, it was 222,000.
As the Baby Boomers retire, and as the impact of our low fertility rates begin to kick in, our labour force will shrink. Contributions and taxes from our reduced labour force, as Artaxerxes pointed out, will have to support escalating health care costs and increasing NIS payments demanded by a relatively large, retired cohort of Barbadians. Some of these Barbadians will live forty years or more in retirement so we have to start maximizing the use of our labour force NOW.
In 2013: 126,300 persons were employed. Therefore the gross labour force participation rate was 59% for 2013. That is, 126,300/214,000.
At March 2015: 127,900 persons were employed. Therefore the gross labour force participation rate was 57%.
At March 2016: 131,300 persons were employed. Therefore the gross labour force participation rate was 59%.
These gross labour force participation rates are much too low to create or sustain national economic growth!
Prime Minister Freundel Stuart colourfully and simply stated that “the government’s nipples are sore”. By so doing, he informed Barbadians that we can no longer look to the Government of Barbados to provide jobs for our unemployed. In fact, the Government of Barbados was forced to shed some jobs as part of its effort to bring balance and stability back to the economy of Barbados.
Unemployment in Barbados reached an all-time high in the 2nd quarter of 2014 (125,000 persons were employed in 2014). A cursory glance at the number of persons employed in 2015, and 2016 therefore support’s Prime Minister Freundel Stuart ‘s assertion that the lost jobs have returned to the economy. Again, we need to congratulate the government and urge our ministers to keep pressing on.
These small economic gains represent a step in the right direction. The banks are awash with money and are paying savers practically nothing on their deposits. The credit unions are awash with money. Some black and white individuals and businesses are awash with money. Why does it appear that everyone is sitting down and waiting on the government?
Certainly, with a little creativity, ingenuity, and hard work we can take the risk of establishing our own businesses and put our fellow Barbadians to work.
At the individual level, we need to start asking ourselves some searching questions. What skills do I possess? Are they legally marketable? Do I really have to sit down and wait for someone to hire me?
Working in concert with his grandson, our own pieceuhderockyeahright, a prolific commenter on BU, has demonstrated to us how creativity and ingenuity can create opportunities for individuals. I would not like to see him achieve his political goals, but with all my heart, I would love to see the energy and hard work, which he puts into the conceptualization and creation of his posters, blossom and financially flourish.
Who could fault or envy pieceuhderockyeahright for trying “to show de grandson that his talents with the “stoopid cartoons” are of great use and that, if wisely positioned could be a revenue stream?”
This is precisely the type of thinking, at the individual level, which can help the country of Barbados to trudge out of its deep economic morass.
Who knows how far this new venture will go? Who knows how much foreign exchange it will bring to Barbados?
There is a small, but very important, piece of detail which pieceuhderockyeahright mentioned with respect to the development of his product – obtaining a copyright from the department of Corporate Affairs. If we are going to be successful businessmen and women, we need to pay attention to minute details such as this. Any Barbadian who is serious about owning a business should go to “Corporate Affairs” and register A CORPORATION.
When you arrive on the 7th Floor of the Baobab Tower at Warrens, you will spend many, many minutes waiting at the counter unattended whilst the employees pore over big binders and try to do their best as they struggle under the weight of an apparent archaic system. Do not expect to achieve your objective on your first or second visit, unless the stars are perfectly aligned with your birth sign on that day. When you manage to get past the “counter stage”, be prepared to stand in another line to pay your fees and receive your receipt. If it is after 3:30 pm, “crapaud smoke yuh pipe”. You have to come back another day.
In a world of e-commerce and “paperless” offices, the situation at Corporate Affairs leaves a lot to be desired. That office needs to be brought into the 21st century.
The Permanent Secretary responsible for the Department of Corporate Affairs needs to find a solution to the problem. It should not be left to the Minister.
I agree it is the responsibility of the permanent secretary and not the minister to find a solution to the problem you highlighted in the department of corporate affairs.
Similarly,I detest Sinckler imposing his person in the affairs of the Barbados revenue authority.That is also the ultimate responsibility of the permanent secretary of the ministry of finance.it was the undoing of Brandford Taitt when he tried to impose his person in the St Joseph hospital affair.We know the outcome of that interference and the devastation from which the QEH never recovered.of course there are permanent secretaries and permanent secretaries.
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pieceuhderockyeahright
@ Prodigal Son
I hope that I can do justice to part of your contribution above
You said and I state “When you arrive on the 7th Floor of the Baobab Tower at Warrens, you will spend many, many minutes waiting at the counter unattended whilst the employees pore over big binders and try to do their best as they struggle under the weight of an apparent archaic system.”
DO NOT EXPECT TO ACHIEVE YOUR OBJECTIVE on your first or second visit, unless the stars are perfectly aligned with your birth sign on that day.
When you manage to get past the “counter stage”, be prepared to stand in another line to pay your fees and receive your receipt. If it is after 3:30 pm, “crapaud smoke yuh pipe”. You have to come back another day.”
That is the absolute truth of the matter.
The Corporate Affairs Department has a “patent” on institutionalized inefficiency, in fact, I am reliably informed that the Caribbean Arithmetic book !! has a problem that has is genesis in that Department
The problem is a man can do 6.5 reports a day and it takes 8 reports to complete a file. Corporate Affairs has a 100% population of women, how many files will be processed in a day?
Well you is a maths man and you dun know that there is not metric involved in that problem to reliably allow for the solution of the problem so in the same way one cannot answer the problem, the real real corporate affairs cant get the work done.
Tell de ole man why you gots to have the pretty venetian blinds showing the corporate affairs office ON EVERY SINGLE PADE??
My man, pretend you is a man from overseas looking to register you business, try to find out the process and/or the fees, and or the requisite agencies and or the time that it will take your (badword badword) not directed at you Prodigal Son, dem is towards de Fecundity dat dem calls a website.
We are led by visionless men
BTW, de grandson can do de site for dem, if dem gine put he money in as escrow account BEFO he start de job and pay a mobilization fee of 75%, jes in case de bank doan nonour dem cheque.
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Hants
@ pieceuhderockyeahright,
It is Walter Blackman who wrote not Prodigal.
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TheGazer
@PUDRYR
I’ve alway felt that the young man had talent and this could be a possible source of income for him. Make certain you vet possible local employers for this kind of work… They might be ‘befriending’ Tonto to unmask the Lone Ranger.
Keep those “stoopid cartoons” coming.
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de pedantic Dribbler
@Pieces, you are being careless above re attribution. Prodigal did not write the essay.
The fact that you were quoted directly should have helped with the identity of author…and too his twice shown image! LOLL.
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de pedantic Dribbler
Ok Hants I didn’t see you when I first read.
@Walter, surely gov’t does not see the pressing need to spend some good money to digitize its older corp records. For all practical purposes taking a few days to establish your company name can’t really be that problematic so as much as the PS needs to keep his departments fully up to date this is really does not raise retard any aspect of the business enterprise.
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de pedantic Dribbler
that should read: …”… the PS needs to keep his departments fully up to date but this really does not retard any aspect of the business enterprise.”
Changed thought but posted before editing.
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pieceuhderockyeahright
@ Prodigal Son
Apologies
@ hants
When the item first posted it only had one picture not two.
@ theGazer
De relationship between the grandson and the grandfather is known to them.
He can make most any site talk and make the engagement cycle reflect the task. Right not they do not understand the connect between functions, GUI and output
All of them including Mia may not like my mouth but they know that I am good at my art and more than any thing else I LOVE MY COUNTRY. On the other hand dem Remingtons still out there so i ent fooling myself dat every skin teets is a laugh.
@ Walter
This is a new topic with a different objective which is to highlight the inefficiencies within one of the chief enabling entities critical to FDI yet, barring the other 48 year old BIDC which is similarly lost? this is a critical organ in facilitating investment in Barbados.
And no, i ent stalking you,
@ All
Look we have inept really inept fellers at the steering wheel, and a group of standby drivers who are equally inept. ROnald Toppin comes to mind, he who has foisted LIME SLOW FLOW and all derivations on the Bajan people, and Smiley Teets of “living specimens”.
One of the things we may reasonably seek to do thing is to put systems in place that, whether they come to work, or play golf all day with the Director of Public Prosecutions, it really does not matter to Barbados. The matrix is on place to enable a functioning system.
Poster ain’t going stop coming but I know where to fight my battles.
He, and he knows who he is, will thread easily since the IEDs are still in circulation.
Their are very few honest politicians but there are those who, are able to thread the middle line of personal aggrandizement and national development well enough that we all live ad opposed to some living in luxury and Audi Q7s and the rest of us sucking salt
When you suck in air in your house do I stiffle? and when you let go a mighty fart and 2 oclock when you sleeping do I run for shelter? no your wife/husband/significant other does but my point is that we have enough to all get a Piece of the Rock and not jes Maloney, Barkham and Sand Nigger.
Unemployment down enough to give the bees belly hurt. In the face of what is right and proper congratulations is in order for govt hard work remaining focus and keeping all eyes on the ball against all odds
Yes this country has faced many challenges from within and without soaring defecits.Tourism declines the one egg nest basket that kept Barbados afloat.
Govt having to let go many employees yet staying the course when others saw failure and a ship heading on rocky shores
For those who keep the flag of doom flying high it is time that flag be lowered and tossed into the sea of forgetfulness and a reality that there is only one Barbados
When one hurt all hurt in a true spirit of patriotism
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Violet C Beckles
Nothing cant move with out banking, Bizzy and Cow are your banks, Their banks filled with Tax and Vat money of the People of Barbados , All funds going right back to them , More money laundering inside of Barbados, = ZERO GROWTH , UNDER PAID SLAVE LABOR FOR BAJANS TO LIVE . ALL MONIES MADE GOES BACK TO WHITE BUSINESS OWNERS , WHO IS COW AND BIZZY et ali. With all the fraud going on outside backs will not be a part of that until the Massive Audit is done, To much long talk
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pieceuhderockyeahright
@ De Word,
You been away for too long and every time dat we meet I does tell you so,
From about 2000 if not earlier dere were ongoing attempts to “digitize” the Corporate Affairs department well back when they had Foxpro and amazingly your copany name could not exceed 26 characters cause the programmers dat them hire rom over and awya did not code it for such.
In fact if you had a company with a superscript your fecundity was totally out of luck cause that was impossible.
All the big companies got a piece of the action de place in Welcheds that Dr. Springer had, KPMG and the OECS (note the name of the entity then Ernst and Young everybody went in and raped the people dem and they liked the rough sex.
Obviously. They continued getting raped even up to today.
I thing it is http://www.incorporatecompany.com where you can go online and incorporate a company in 20 minutes in Delaware or wherever.
Why, in the case of WordPress WoCommerce enabled sites, do i have to go to the 7th Floor at baobab towers to incorporate my stupid company??
If i can incorporate a US company (not that the US is and example or anything) why de fecundity I cant do um here?
WE ARE NOT READY de Word. We are not ready
And Byer Suckall bout the place with her soft sexy dugula voice talk bout “websites dis and dat..” What will de website do? what are the people being taught? is this and exercise in using 25 cuntputers to waste electricity AND IDB $$, under the guise of cuntputer literacy?
My man, effing dem was to know whu fellers like you does do in Canada, steupse but you gots to keep hiding under you cape and get cuss out fuh you ‘Lukewarmness”
A boss man like you who **** peeples does report to, and whuplax you heah tekking insults unable to rise up like Cardinal Warde whom Alvin Cummins incorrectly reports has patented ** items under his name.
I would send the goodly gentleman to pg 116 of Black Inventors by my man Keith rather go to Dr. Warde to enquire if the patents were solely his or co authored with MIT, notwithstanding he is a prolific co-author.
There is a serious disconnect between government policy and the practicuum of related disciplines which are the serious Forex earners
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chad99999
I want to point out to the people on this site that the chronic unemployment problems of Caribbean islands cannot easily be solved.
It is particularly distressing to see the snake-oil arguments that are being peddled about “entrepreneurship” by so-called educated people, who should know better. Most small businesses are inefficient because of their limited size, and most small businesses FAIL. It is not a good idea to tell people that if they are just a little creative, they can find a way to support themselves. In a Third World country, there is not enough spare change for most threadbare business ventures to work. As for bank lending, micro-lending programs around the world have performed poorly.
There are some bedrock truths that the economics profession has discovered. One of these is the principle of economies of scale. Up to a point, over a very large range, BIGGER IS BETTER in business. What you usually need for success is a BIG business, not a small one. That is why manufacturing, BIG manufacturing, has been so crucial to the reduction of poverty everywhere, especially now in Asia. That is why the Caribbean needs engineering talent in quantity, because those are the people, more than any others who can provide a foundation for success in manufacturing.
Sam Lords Castle and Wydham resort along with the Sandals expansion is another bright spot for the unemployed all projects already running
The Blp needs to get working and tell the people what better solutions they have than present govt,, For the blp time is running out and all the stoopid cartoons in the world not going to help fight this onslaught of good news for Barbados people and the economy coming from govt
BLP wake Up FOOLS the sleeping Giant has you cornered i think he is hitting all sixes
The problem with the info gathering and output stats by government is that there is no public confidence in the exercise. Not too long ago Governor Worrell and the Central Bank had a similar concern and commission a project to challenge the same stat produced by the BSS. You may recall that the IMF/World Bank has questioned the efficacy of public sector reporting.
Then there is the head of the private sector agency who has questioned the single digit number when his information is that the private sector has not been aggressively recruiting as well there is high underemployment. Which businesses have been employing people because we know that it is NOT in the public sector.
OH NO speckled Fowl u did not say that ! not too long ago when the govt issued the first sale of bonds i heard the same mantra but the people soon stuck a hole in that balloon and the mouths were quickly closed
the govt cannot always be right that is an impossibility and those weakness which are part and parcel of govt decisions that are negatively highlighted which does not affect or reflect peoples pocket book are quickly resolved in peoples minds as people look towards govt for those answers which are critical to the improvement of their daily lives
For the record the last few issues which were given such notoriety recently here on BU are not any of them
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de pedantic Dribbler
@chad99999 at 8:06 PM …as my blog colleague said to another, I am not stalking you, by responding in recent days to a few of your posts. But I find interest in similar subjects and frankly on this point of small business I agree completely with a part of your views.
I agree in that “most small businesses are inefficient because of their limited size, and most small businesses FAIL. ”
I also agree that the concept of “’entrepreneurship’ by so-called educated people, who should know better” is often misunderstood…badly so too.
However we part after. In my view, there IS “enough spare change for most threadbare business ventures to work”
And despite the fact that “bank lending, micro-lending programs around the world have performed poorly” there is absolutely no reason for the ‘PiecesPostersRocks’ to be a thriving income generator for grandad and grandson.
It need not be about the Corporate Registry offices initially. Rather the focus is on establishing the CV of projects to win over clients.
It is about a mind-set about being an entrepreneur first and foremost. About NOT being an employee!!!
The issue obviously is about a person who has honed their skill and is very comfortable offering that for hire; knows well how to organize him/herself as a LLC or sole trader and how to organize/plan finances and operations toward eventual retirement and fulfilling life’s dreams.
Clearly the Pieces team have some skills and just as obviously those like him start by doing some ‘small’ work and then building up to work for big corps and more.
The simple fact is that Pieces and others lik e him dot the business landscape extensively as two, three or 10 people operations (or bigger)that generate quite good enough revenue. Just as they are those that struggle and fail. And this is across all disciplines.
The successes may operate as independent contractors doing stints at one client, a series of clients or simply doing projects for multi clients or for just a few.
Thus in making your sweeping remarks you delete a large segment of viable, successful business persons who have been operating in that small business milieu forever.
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Colonel Buggy
Relocation
Colonel Buggy July 6, 2016 at 4:29 PM #
Does the Prime Minister really think that all right thinking and observant Barbadians are going to swallow his mouthing that the unemployment figure is down to around 9%. Given the fact that just last week ,over 3000 school children have graduated from secondary school, with little prospect of the majority of them, finding legitimate employment, and only a few of them are going to move on to tertiary education.
Does his unemployment figures take into account only those who previously had jobs,and not those who never held a job in their lives?
Any morning, in fact any time of the day, I drive out of my gap, I am confronted by some 20 or so young men, ranging from 16 years to 30, just sitting under the tree ,wasting their lives away. In the next village are two other lots, numbering in the region of 25 each. And this same picture is evident through out the length and breadth of Barbados. There are far more people now seen on the block, than those we see in agriculture, road maintenance , and those involved in carpentry or masonry, to name a few . Did the Prime Minister not listened to the young men in his constituency , and the constituency next door, who are embroiled in deadly gun fights, and who are crying out for jobs, other than ” a man jucking a gun in their hands and ,and telling them to bring him back $500, forcing them to go and rob 3 or 4 innocent people” (Their words, not mine) Do you sir, call this employment?
Are your figures also inclusive of the increasing amount of self employed women and young girls who have found a niche as crack salespersons on the Bushy Hill.
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Calvin
@pieceofderock 7.32pm
We know Maloney, I think I know who you might be referring to when you say Barkham, but forgive us……… What and who is the third adjective
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Colonel Buggy
Have you taken a walk or drive through one of the many industrial estates , dotted across Barbados, which once reined supreme and provided employment, some may call it low paid, to many Barbadians and residents , young, not so young, males and females. Grazettes, Newton, Wildey, the Airport, Six Roads among others, are now like ghost towns, with most of the buildings closed down, and some engaged in non-industrial activities, like the one manufacturing breakfast and dinners , and the other producing passports to heaven.
Many young people were able to make a start and gain some valuable experience in these industrial estates before moving on to greener pastures.
In today’s Nation we see a company advertising its intention to apply for a work permit to bring in a non- national to fill the position of a “Multi Layer Cutter,” presumably in the garment industry, as no one locally had applied. There was a time when there were many Barbadians skilled in this particular trade.
When the Government of the day introduced free University and other Tertiary education, this was the start and intention of creating an entrepreneurial class. But as it stands, like the chap in the bible who hid his single talent in the earth ,thus avoiding any risk taking, our trained and degreed qualified potential entrepreneurial ,similarly not taking any risks, hide their degrees, diplomas and doctorates on the walls in the offices of COW, and Bizzy et al.
The wayside vendors and hawkers, who ply their trades on the bridge , markets and streets in Bridgetown, have displayed more entrepreneurial balls than their educated sons and daughters.
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millertheanunnaki
@ Walter Blackman:
“……the amount of Barbadians who are of working age […] = 222,400. Of that number, only 127,900 found employment. Therefore, 94,500 Barbadians are unemployed. This means that, today, Barbados has a gross Human Unemployment Rate (HUR) of 42.5%. It was 41% for 2013. The amount of unemployed persons at the end of 2013 stood at 88,000. At March 2015, it is 95,000. At August 2015, it must now be higher because young adults recently left school and there are no jobs available for them!”
“Now that recently published figures have shown that, at March 31st 2016, the unemployment rate stood at 9.3%…”
“In 2013, our labour force was 214, 000. At March 2015, it was 224,000. At March 2016, it was 222,000.”
“In 2013: 126,300 persons were employed. Therefore the gross labour force participation rate was 59% for 2013. That is, 126,300/214,000.”
“At March 2015: 127,900 persons were employed. Therefore the gross labour force participation rate was 57%.”
“At March 2016: 131,300 persons were employed. Therefore the gross labour force participation rate was 59%.”
So please Mr. Blackman Sir, using your erudite skill of statistical manipulation, could you explain to us dullards on BU how the most recently ‘published’ Unemployment Rate could stand at 9 %?
9 % of what? Is it 9% of the gross labour force of 222,000? Or is it 9% of the total population of the country which is not provided in your calculations?
We can use our commonsense and basic arithmetical skills to see how you arrived at your 59 %; that is, (131,300/222,000)*100 = 59.14%.
BTW, from where did you source your ‘labour force’ stats? I guess the NIS is your source based on the number of people making continuous contributions to the various fund.
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chad99999
de Pedantic Dribbler
It is always true that an economy will have more small businesses than big ones, and I have certainly known many individuals in the petit bourgeoisie who seemed to have succeeded in putting food on the table as independent businessmen: fishermen, farmers, shopkeepers, caterers, cleaners, tailors, photographers, those ubiquitous “consultants”, etc. But anyone who has been to India, Pakistan, Morocco, Mexico, or Egypt has probably been depressed by the shabbiness, the desperation, the fear, the insecurity, the exploitation and ultimately the selfishness, misery and cruelty that is pervasive in societies teeming with ambitious “traders,” hucksters, schemers and con artists struggling to survive from one month to the next, and never being able to close the enormous gap between their aspirations and their everyday lives.
I once worked for a series of small accounting firms. Each and every one was the same story. There were two or three people who lived reasonably well and had achieved a measure of financial security from the business, but there were also 10 or 12 other people clinging to the business but living in hardship and poverty. Working long hours every day, but never out of debt– and if they got sick, they were in deep trouble –a nightmarish existence I wouldn’t wish on my worst enemy. That experience taught me the meaning of “capitalist exploitation”.
We know Maloney, I think I know who you might be referring to when you say Barkham, but forgive us……… What and who is the third adjective?
“Fecundity” is a word recently used here by TheGazer.
The correct definition is as you know “is the actual reproductive rate of an organism or population, measured by the number of gametes (eggs), seed set, or asexual propagules. Fecundity is similar to fertility, the natural capability to produce offspring.”
However sine the ole man is no braniac, post seeing the word in a former blog, de ole man hijack de word, as it is spuriously related that I hijack another BU post, and added that word to my cussword vocabulary.
It is actually part of a “social experiment” that the ole man is conducting
I have put the challenge to AC (the not to shall we say “fecund” of mind”) I have put the challenge that I will launch a “stoopid cartoons” which promotes that word but in the context of the part of the human body where to “ability to produce offspring” is evidenced.
Two inches away from opinions (are like a**holes everyone has one) but only on one of the gender (my apologies to the in-betweeners)
So tomorrow calvine, when you are in the middle of a conversation with a cretin (note that i did not say assinine cretin) even if you are in the middle of 100 policemenses you can shout out at the top of your lungs “what sort of fecundity you is?” confident that you cannot be locked up for cursing in a public place
Watch now how a piece uh fecund, (dat is a truncation of the full noun) going jump in heah pun my comment and underscore who and what the word refers to heheheheheh.
I think i have up a Stoopid Poster with it in the Posters Pages here on BU.
Let me check it for you.
Ammmmmm AC do i have up that word in my posters that you have been counting and saving?
Colonel maybe them twenty or thirty youngster sitting under the tree all males could make something of themselves by starting a self service business. twenty or thirty years from now the same scenario one would see reason being because in every society there are people who have an entitlement mentality and believe it is the govt responsibility to hand them everything .
Govt owes no body any thing , people who wants to make some good of self would find ways , it does not take much but for many it is hard work as Walter exemplified to point that PDYR maybe intentionally or unintentionally position himself and gran son to become entrepreneurs with a simple idea
There are may sitting on the block who have ideas but does not put them to no use because of listening to political rhetoric which tells them that they are entitled to suck off the taxpayers /govt nipples
If many of them sitting under the tree were taught that self responsibility is the best bread and butter to a better future most would be motivated to do better for themselves
Most of these youngsters can start their own business with simple ideas but for many they rather not because they live in doubt after being spoon fed a daily diatribe of political nonsense that the govt owes them something
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Pachamama
Walter Blackman was always destined to be a bad politician, an even worse commentator on economic matters and for someone who is fresh-back from receiving 21 years of ‘experience’ he is no more useful in helping to guide this country than before he left.
While we agree that the employment participation rate maybe a useful guide to understanding employment levels, it certainly cannot, in itself, tell the whole picture. For example, the participation rate does not measure the nature of the jobs – meaning people maybe working at 3 or 4 low wage jobs, unable to make ends meet but participation rates will represent higher numbers.
This Blackman makes another point about bank deposits and individuals being awashed with cash. People and firms which are reluctant to invest. We are afraid Blackman’s mind is still firmly located in the old economy model. The world has long moved on. His advice is at best anachronistic.
In the new economy, an economy heavily impacted by financialization, he is grossly misleading the people of Barbados. Blackman should go back to where he cometh to find out what that means.
The financialized economy, all over the world, continues to guide potential investors that-they are better off in financial products that traditional investment, as Blackman’s old economy, irrelevant advice suggests.
And we may go on and on to explain. But nothing we say will Blackman find in his old text books. And this is the central problem with Blackman, Stuart and the rest. They are highly educated assholes.
Walter Blackman must come to know that he is a *ucking idiot. Until he accepts that there remains no hope.
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Bush Tea
@ Colonel B
There is no room in this country for common sense.
The idea of an ‘unemployment rate’ which is so liberally tossed about by politicians, is actually a misnomer.
What they actually mean, and measure, is “The percentage of losers who are foolish enough to be looking for jobs from the foreigners who own every shiite in Barbados”.
NO ATTEMPT is made to count those who have given up on the system; who are happy to beg a meal from their old mother; who are just too lazy (or smart) to be found at the steps of some Trickidadian or Canadian every day begging for a pick doing security work; or even those who refuse to be kicked by Canadians.
Shiite!
Bushie is surprised that the rate is not 2%
The REAL joke is that we, the brass bowl citizens would go along with this shiite.
Steupsss…. The TRUE sign of an idiot is that he sings, dances and claps when kicked and pissed on…
If Froon and his bunch of jackasses follow Arthur and HIS set, and sell every shiite to foreigners and local albinos …it is only OBVIOUS that the ‘unemployment rate’ will fall …. as Bajans realise that jobs are going to FOREIGNERS, and that the only job opportunities are for security officers, clerks …and employees prepared to take kicks from white people.
Bunch of brass bowl jackasses!!
We are on the way back to the days of slavery …where the unemployment rate was ZERO….. Lets all sing and dance.
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pieceuhderockyeahright
oh lawsie, I gone heah!!
When giants and colosii fighting, ants better get out of Dodge City.
I wonder if my GF home? where i can go and mek a poster and get her opinion on it?
Looka dere is few pleasures left to us ole menses and to have a young lady give you a compliment, my man, you in kiddy goat heaven fuh a week.
I gone befo I get accuse of inciting sedition and treason (a la Verla Depieza)
Speaking of Treason, I was to ask Caswell or Jeff, what is the “correct” way for members of a sitting government, to seek to remove the Leader of that party.
While it is hindsight it might be worth a read.
@ the Honourable Blogmaster (or Artaxerxes “he who has the Keys and unfettered access to the Archives” and doan wanta share them) is there an article here on BU which details the process?
You never know when it might come in handy fuh you know who….noooo, not fuh *** dere will be no need)
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Walter Blackman
Pachamama July 7, 2016 at 6:42 AM
“And this is the central problem with Blackman, Stuart and the rest. They are highly educated assholes.
Walter Blackman must come to know that he is a *ucking idiot.”
Vintage Pachamamum in full flight. You go, boy!
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Walter Blackman
de pedantic Dribbler July 6, 2016 at 7:23 PM #
“@Walter, surely gov’t does not see the pressing need to spend some good money to digitize its older corp records. For all practical purposes taking a few days to establish your company name can’t really be that problematic so as much as the PS needs to keep his departments fully up to date but this really does not retard any aspect of the business enterprise.”
de pedantic Dribbler,
I am looking at things from a slightly different angle.
We have a finite, limited number of man-hours with which to conduct our national business every day. Therefore, one of our national objectives is to eliminate wasted man-hours since such wastage breeds inefficiency and reduced productivity.
If we are going to promote entrepreneurial activity, and by so doing, encourage Barbadians to register their own companies, then we ought to have an efficient system in place to guide the process to completion.
Why should I have to go to corporate affairs 3 or 4 times?
The solution to the problem lies in suggestions similar to what pieceuhderockyeahright showed you in his response to you earlier at 7:58 a.m :
” I thing it is http://www.incorporatecompany.com where you can go online and incorporate a company in 20 minutes in Delaware or wherever.
Why, in the case of WordPress WoCommerce enabled sites, do i have to go to the 7th Floor at baobab towers to incorporate my stupid company??
If i can incorporate a US company (not that the US is and example or anything) why de fecundity I cant do um here?
WE ARE NOT READY de Word. We are not ready”
Classic bush shit repeating the same crap negro it is past time u get off your brass bowl and empty the shit clean your backside and strive to make a difference. Heard enough of your useless views professor brass bowl
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Walter Blackman
….I argued that if we paid a little more attention to our labour force participation rate, and less attention to our more contentiously calculated unemployment rate, then we would end up having a far better understanding of the nature of our unemployment problems.
…the gross labour force participation rate was 59% for 2013.
At March 2015: … the gross labour force participation rate was 57%.
At March 2016: … the gross labour force participation rate was 59%.
These gross labour force participation rates are much too low to create or sustain national economic growth!
millertheanunnaki July 7, 2016 at 3:11 AM #
“@ Walter Blackman:
So please Mr. Blackman Sir, using your erudite skill of statistical manipulation, could you explain to us dullards on BU how the most recently ‘published’ Unemployment Rate could stand at 9 %?
9 % of what? Is it 9% of the gross labour force of 222,000? Or is it 9% of the total population of the country which is not provided in your calculations?”
millertheanunnaki
Next!
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Pachamama
Well. if you weren’t as we described you would make contact with our antithesis to your misguidance to the people of Barbados.
For this is fundamental for you, Walter Blackman, know not of what you wrote!
We continue to be amazed that a fifth rate would-be politician, in 2016, could still be talking about economy in the ways of pre-1980. And expect for us not to abuse him!
And that otherwise brilliant people, here on BU, could have seen even a modicum of sense in you, now or in the past.
We will continue to speak ‘at’ you in any way we see fit. There is nothing you nor the system which produced the likes of you could do to curtail that.
Separately,
On the political side, your feeble attempts to pander to the BU regulars are unlikely to change future outcomes. The fickle masses will soon eat you alive.
Of course, the political talk was also aimed at winning friends in the DLP branch, others with influence and a PM who is forever lost in wonder, love and fear. This involvement merely represents systemic crimes and misdemeanors all aspiring, petty politicians must commit in order to navigate the apparatus.
We are prepared to make any case without numbers on our side and will allways be.
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Bush Tea
@ Dribbler
Boss, you have Bushie in a pickle yuh!!!
It ain’t easy having to agree with you so often nowadays…
This rush to copy “what can happen in the USA or Canada” is a lotta shiite.
Not only are these not good examples in many cases, but these are DIFFERENT societies; …based on DIFFERENT priorities, goals, and objectives.
So when Walter automates the Corporate registry so that those who create new companies on a daily basis can do so in 20 minutes…. and make the 30 staff members in the towers redundant…. which of our national goals are being met?
The only damn people with so many ‘companies’ to benefit from such a policy are those same albino-centrics who daily create new companies to hide their various scams.
Steupsss…
We are a LOST people who have NO IDEA of who we are; where we want to go; or even where the hell we come from. We are foolishly copying and seeking to outdo a set of albino-centric “material-worshipers” whose “god” is money, …and whose GREED is their pride.,,,called CAPITALISM’
This is the true makings of a Bajan brass bowl….
What we need to do is to:
..STOP
..TAKE A DEEP BREATH
..TAKE A CLEAR-HEADED LOOK AT LIFE
..FRIG THE ALBINOS AND THEIR FAILED WAYS…and
..CHART A MEANINGFUL, RELEVANT, BAJAN STRATEGIC PATH FOR OURSELVES
But that will never happen…. there are too many brass-bowl yardfowl-idiots following the lotta bribe-taking, brass-bowl, lackie, house-nigga, jackasses running things…..
“If only my people, who are called by my name, and who were made in my image, would pray and seek my face, and would turn from their albino-inspired ways….. THEN…..”
…but NO!!! wunna like a lotta shiite….
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Walter Blackman
David July 6, 2016 at 8:33 PM #
“@Walter
The problem with the info gathering and output stats by government is that there is no public confidence in the exercise. Not too long ago Governor Worrell and the Central Bank had a similar concern and commission a project to challenge the same stat produced by the BSS. You may recall that the IMF/World Bank has questioned the efficacy of public sector reporting.
Then there is the head of the private sector agency who has questioned the single digit number when his information is that the private sector has not been aggressively recruiting as well there is high underemployment. Which businesses have been employing people because we know that it is NOT in the public sector.”
David,
As a Barbadian, I cringe in embarrassment whenever I see international agencies commenting on the unavailability, absence, and inconsistency of our national data. This reflects poorly on the civil service and our system of public administration.
Specifically with respect to the methodology used to calculate the unemployment rate, it has been universally decided to expel those persons deemed to be “not looking for work” from consideration. That is where political discretion and contention enter the mix.
If my memory serves me correctly, someone has determined that, at March 2016, there are just under 77,000 Barbadians who should not be considered unemployed because they are simply not looking for work.
Who made that determination?How credible is it?
To test its credibility, one only has to remember that Sandals recently advertised a few openings and thousands of Barbadians almost devoured each other as they scrambled to get in line to submit their applications.
As Bush Tea correctly hinted, the methodology can be manipulated to generate an unemployment rate of 2%, if so desired.
I have no idea as to whether the information related to the number of employed persons and the total workforce is correct or not. However, if we use this information, then the gross labour force participation rates calculated from it (59%, 57%, 59%) show that nothing earth shattering has happened in the area of job creation over the last 3 years. This result seems to be in keeping with observations and reports from businessmen, the man on the street, and politicians.
If we can find and use the data available for the period 1994-2007, I would be surprised if the results led us to believe that significant sustainable job creation took place over that period.
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Artaxerxes
The ACs wrote: “Most of these youngsters can start their own business with simple ideas but for many they rather not because they live in doubt after being spoon fed a daily diatribe of political nonsense that the govt owes them something.”
On rare occasions (far and in between) the ACs tend to make worthwhile contributions. However, what they failed to mentioned is the fact that BOTH political parties “spoon feed” people with “a daily diatribe of political nonsense” and “political rhetoric” in the hopes of soliciting their votes.
It appears that some are of the “misleading/erroneous” opinion an individual can automatically become a successful entrepreneur SIMPLY by having “an idea.”
People who want to “open their own businesses” are CONFRONTED with a number of inhibiting factors, which create difficulties for them to achieve their objectives. In many instances it is difficult to obtain loan financing due to the prequalifying conditions attached to sourcing those funds.
Firstly, the prospective entrepreneur MUST present a COMPREHENSIVE BUSINESS PLAN so as to CONVINCE the financier that he/she is serious.
A business plan may include a detailed description of the proposed business, estimated start-up costs supported by bills of quantity; projected financial statements for at least five years, showing the ability of the business to meets its debt/financial obligations; how the intended funds will be allocated and disbursed; a marketing strategy including market segmentation, demographics and how the business intends to operate in a competitive environment; management skills of the owner, etc.
Secondly, financial institutions also REQUEST a copy of the Certificate of Incorporation, which means the entrepreneur has to incorporate the business. The cost of preparing a comprehensive business plan starts at $2,500 and incorporating a business (inclusive of lawyer’s fees and depending on the lawyer) is approximately $1,500.
So far, “that youngster sitting under the tree or on the block” has to look for $4,000. Obviously, he/she cannot approach an accountant or a lawyer for them to PROVIDE the NECESSARY SERVICES based on individual SIMPLY SAYING “I have an idea.” Before the accountant conducts the necessary research and commences preparation of the business plan, the entrepreneur must make a down payment.
And this is even before he/she applies for the loan. Now, wuh part dah youngster gine get all dah ‘mount ah money from, especially if they DO NOT HAVE a JOB or SAVINGS or CANNOT SOURCE FINANCIAL ASSISTANCE from relatives or friends?
Hence, he/she finds comfort sitting under a tree or on the block hoping to be “fed a daily diatribe of political nonsense that the govt owes them something.”
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are-we-there-yet
Walter;
You said above:
Unemployment in Barbados reached an all-time high in the 2nd quarter of 2014 (125,000 persons were employed in 2014). A cursory glance at the number of persons employed in 2015, and 2016 therefore support’s Prime Minister Freundel Stuart ‘s assertion that the lost jobs have returned to the economy. Again, we need to congratulate the government and urge our ministers to keep pressing on.
Do you really mean that unemployment in Barbados reached an all time high in the 2nd quarter of 2014 when 125,000 people were employed. Or did you mean that 125,000 were UNEMPLOYED that year since your data seems to indicate that 125,000 could not have been an all time high for employment?
If your statement on all-time record unemployment for 2014 is correct then It becomes most important that, rather than just taking a cursory look at the figures, that you should take an in-depth look to determine the various contributory factors which resulted in unemployment (according to your figures) rebounding from an all time high in 2014 to relative parity with recent march figures in march 2015 and while maintaining that parity (in terms of your gross labour force participation figures) in 2016, dropping precipitously to the official rate of 9.3% in March this year?
I think we deserve your detailed explanations above and beyond the required adulation of the the great financial management of Sinckler and Stuart.
Could there be some methodological factors which might explain the seeming inconsistencies?
But I take your points totally re. what the figures are telling us of the need to drastically increase gross labour force participation for all of our sakes.
You are honest to say you are looking at things from a different angle, but to call the angle slightly,please Walter , you lost your integrity. I speculated your setting up Company was a front, but you said “my stupid company” what do you mean? , on your returned to Barbados you visited a friend of mine, and in conversation stated that it will take Barbados, about 30 or more years to repair the damage done by the DLP, but we may be dead by then, but in 3 months as a new DLP campaigner you are seeing signs, did you get left over fatted calf ? you are a classic concealed WaltHer PPK, lets see how many you put in your foot before 2018
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are-we-there-yet
Walter;
Again, I did not see your 9:52 am before I posted mine above.
But, I think you have answered in your post, the main thrust of my question above.
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Artaxerxes
Walter Blackman July 7, 2016 at 9:52 AM #
“As Bush Tea correctly hinted, the methodology can be manipulated to generate an unemployment rate of 2%, if so desired.”
“If we can find and use the data available for the period 1994-2007, I would be surprised if the results led us to believe that significant sustainable job creation took place over that period.”
@ Walter
Very good observations in your entire contribution; I cannot expect anything less from a man of your ability.
I’m happy to know that the unemployment figure was 9.3% at the first quarter ending March 31, 2016. It may be an indication that Barbadians are obtaining work once more.
I don’t want to spoil the celebrations by questioning the accuracy and reliability of the statistics or the methods used by the BSS. However, I would prefer to wait until the stats for the third quarter ending September 30, 2016, before “jumping up and hollering fuh murduh.”
Reason being, by that time the stats would have taken into consideration, for example, certain variables such as the percentage of the over 3,000 students who left school on June 30, 2016 that are actively seeking employment, excluding those who are pursuing tertiary level education.
Additionally, I recalled Sinckler mentioning government’s plan to review the operations of 19 statutory corporations, with a plan to consolidate the operations of those corporations that offer similar services and closing others. We must also consider what percentage of the 9,000 individuals employed by these boards would be retrenched as a result of government’s decisions.
Then there is, as you mentioned, the short-term or long-term sustainability of jobs that were created during the period under review.
We have to enable the environment to safeguard indigenous intellectual property. Walter is correct, the existing system is not helping.
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Walter Blackman
Artaxerxes July 7, 2016 at 10:22 AM #
“Walter Blackman July 7, 2016 at 9:52 AM #
I don’t want to spoil the celebrations by questioning the accuracy and reliability of the statistics or the methods used by the BSS. However, I would prefer to wait until the stats for the third quarter ending September 30, 2016, before “jumping up and hollering fuh murduh.”
Reason being, by that time the stats would have taken into consideration, for example, certain variables such as the percentage of the over 3,000 students who left school on June 30, 2016 that are actively seeking employment, excluding those who are pursuing tertiary level education.”
Artaxerxes,
Let us suppose that a person who left school 10 years ago, and is still unemployed on September 30, 2016 is deemed to be not looking for work. So that person is not counted as unemployed.
Let us also suppose that 4000 students left school on June 30, 2006, and none of them found work by September 30, 2016.
The 4000 “old” unemployed students from 2006, will be removed from the unemployment rate calculation, and will be replaced by the smaller 3000 “new” unemployeds from 2016.
In this case, using a ceteris paribus assumption, the unemployment rate would fall in September 2016.
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Bush Tea
David
“We have to enable the environment to safeguard indigenous intellectual property…”
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Boss, you sounding a bit like Terence yuh!!! 🙂
“..enable the environment to safeguard indigenous intellectual property…” ???
What exactly do you mean…?
Do you mean that we haffa stop doing shiite?
….cause we have NO environment to safeguard anything ‘indigenous’.
Owen articulated a NATIONAL POLICY of getting Barbados to ‘first world status’ by attracting FOREIGN talent to the island. He changed a whole BUNCH of our Laws to enable such…
he sold off much of the assets that prior generations had SCRUNTED to buy, SO THAT INDIGENOUS TALENTS COULD HAVE A CHANCE TO SHINE.
Froon, Stinkliar, Enuff and Artax have continued to be champions of this idiocy.
What enable what environment what??!!
Foreigners are now ‘TRAINING’ Bajans in how to run BS&T, Banks Holdings, BL&P, BNB etc… and how to learn to take a kick…
…while all we can do is come on your blog and talk shiite….
Our ass is grass….. There is NO WAY BACK.
Our ‘indigenous intellectual property’ will go the SAME DAMN WAY as that of our fore-parents – the African peoples who were enslaved and ‘trained’ in albino-centricity 500 years ago….
Imagine….. after 500 years of INTENSE history as plantation slaves,….black people in Barbados turn around and march their OWN asses right back into the land of Egypt….
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Pachamama
Somebody asked some weeks ago, what is wrong with a Barbadian coming back ‘from over and away’ to ‘serve’ their country.
Well for one, if that person is also a USA citizen there has to be a procedure, dissimilar to the fingerprinting debacle, to certify that that ‘Bajan” is not an agent of a foreign government as well.
This is an issue of national security. And national security can be compromised by willful misguidance. People have received Nobel Prizes for such ‘work’.
Of course, there should be other requirements above and beyond the regular barriers to entry.
We’ve not been convinced that these interventions, far from assisting Barbados and other regional countries, are entirely nationalistic in nature.
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Walter Blackman
Watchman July 7, 2016 at 10:18 AM #
“@ Walter Blackman
I speculated your setting up Company was a front, but you said “my stupid company” what do you mean?
Watchman,
Is it possible that you have mistaken me for pieceuhderockyeahright?
Please see the following and let me know:
pieceuhderockyeahright July 6, 2016 at 7:58 PM #
“@ De Word,
Why, in the case of WordPress WoCommerce enabled sites, do i have to go to the 7th Floor at baobab towers to incorporate my stupid company??”
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Well Well & Consequences
The unemployment statistics are embarrassingly inaccurate…and lying Fruendel knows it, so do the voters.
No not of the erroneous belief that one can start a business with an idea. For your information a generation of the older barbadian started a business with an idea generating sunbstantial income to raise a big family and build homes. So dont get carried away with this modern day babble of economics that a finnacial windfall is always necesssry to start a business .i submit to you that car washes and window cleaning were small ideas that has generated millions of dollars for the small business person
Just recently i made a comment stating that the grass which govt does not want to collect a person wanting to generate cash can convert the grass to mulch as a way of starting a business ..and not to miss a beat of words of discouragement the BU gang had all the reasons why such an idea would not work
I simply remind them that barbados was part of the world and the business can be transported in any part of the world via air sea or technology
Yes we live in a modern era that gives all a new lease on life and opportunities galore if we want to accept the responsibility
Including those who sit idlly under a tree waiting for govt hand outs
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Watchman
@ Walter Blackman
I still speculate your Company as a front , another Walters, from BWA had a company too
my respect for you remain, until you get the nod to run for the DLP, from 2008 seeing the behavior of the DLP, two PM and ministers I have absolutely no respect for politicians,
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Enuff
Entrepreneurial class? Naffin new here Walter!! I recall Mia and Owen talking about an artisinal class over 10 years ago.
I await real progressive policies.
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Enuff
What became of Grenville/Solutions Barbados’ entrepreneurship workshop at Combermere?
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