2016 Financial Statement and Budgetary Proposals
Chris Sinckler, Minister of Finance
Mr. Speaker,
I crave the indulgence of this Honourable Chamber to present this year’s Financial Statement and Budgetary Proposals. I do so Sir mindful of the important responsibility which has been entrusted to your Government to develop policies and craft strategies, both economic and social, to assist with the orderly, holistic and expansive development of this beautiful island of ours.
It is not a responsibility which my colleagues and I take lightly as we are acutely aware that in very many instances the current and even future success of possibly every life in Barbados will be affected in some way by the decisions we take.
Full 2016 Financial Statement and Budgetary Proposals
Barbados Underground 
Prodigal
Maria Agard and OSA have been weighed in the balances and found wanting.Agard is a foul mouthed woman from carn’ton village so MAM wouldn’t understand her capabilities because she never had the experience of dealing in the trench.
Maria Agard and Mara Thompson have a rabid,gut renching dislike for MAM.In politics,that can tell you that MAM is feared by many on that side of the aisle.
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DAVID WHY DID YOU CUT ME OFF UNDER “THE TOPIC OF TRUMPISM”, WHERE I COULD NOT RESPOND TO YOU…THANK GOD GEORGIE PORGIE REPLY WAS APPROPRIATE AND I AM SURE WAS A SURPRISE THAT REALLY SHOWED YOUR ONE-SIDED VIEW!
DAVID YOU AND YOURS SEEK TO DISREGARD EVERYTHING I SAY WHILE YOU KNOW WELL EVERY SINEW WITHIN YOUR BEING THAT I AM CAPABLE AND HAS DEMONSTRATED COUNTLESS TIMES THAT MY FACULTIES ARE WELL IN TACT AND THAT I CORRESPOND SEQUENTIALLY AND SENSATIONALLY.
I HAVE BEEN STUDYING THESE TOPICS, ISSUES AND POLICIES FOR YEARS… WHERE I AM ABLE TO CONNECT THE DOTS MOST ARE LEFT IN THE DARK…
SORRY THAT YOU THINK BEING INFORMED IS BORING…THAT SPEAKS A LOT FOR YOUR KNOWLEDGE ON THE SUBJECT.
BESIDES THAT I THINK YOUR COMMENTS ARE MEANT TO DETRACT AWAY FROM THE REVERENCE OF MY CONVERSATION.
PLEASE NOTE THE TIMES OF MY POST…. I GAVE AMPLE TIME FOR A RESPONSE…
OTHERS WHO CHALLENGED MY UNDERSTANDING INCLUDING YOU SEEMED TO GONE INTO HIDING!
THEN YOU COME BACK WITH THE USUAL DEFIMATION SMOKE AND MIRROR TACTICS…
DAVID YOU NOW HAVE TWO ARTICLES FROM ME WHICH YOU HAVE NOT RELEASED
(1) ANOTHER BOA DANGLES AROUND THE NECKS OF BAJANS…
(2) BAA BAA BLACK SHEEP IN RELATION TO THE RECENT BUDGET…
ALL WITH ORIGINAL THOUGHT PROVOKING STATEMENTS AND QUESTIONS FOR THE BENEFIT OF BARBADIANS.
IF YOU ARE THAT OPEN-MINDED WHY HAVE YOU NOT SHARED THEM????
OR ARE YOU ALSO PLAGUED WITH DDD…
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Ok next ! So what if i spell stabilise with an s
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@Freedom Crier
What the BU blogmaster does is final. STOP dogging David.
Another final warning. GP does NOT run BU.
>
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MR. PORGIE THANK YOU FOR RECOGNIZING THE TRUTH!!!
Georgie Porgie August 19, 2016 at 11:51 AM #
WHO WANTS TO LEARN FROM ANYONE ON BU? REALLY?
ON BU ITS ATTACK! ITS CALLED CHALLENGING OR ITS IDIOTS WHO CAN NOT FOLLOW AN ARGUMENT
AFTER A WHILE YOU GIVE UP
FREEDOM CRIER DO THE BEST YOU CAN
DONT LET ANYONE BOX YOU INTO THEIR PATTERNS OR TO ABIDE BY THEIR WILL
CERTAINLY YOU HAVE A RIGHT TO EXPRESS YOURSELF AND OPINE AS YOU FEEL LED
YOU MAKE MORE SENSE THAN MOST MORONS WHO COME HERE AND ARE HIGHLY FAVORED
Georgie Porgie August 19, 2016 at 11:55 AM #
WHO WANTS TO LEARN FROM ANYONE ON BU? REALLY?
A BIOCHEMISTRY ILLITERATE COMES ON BU AND SAYS YOU DONT NEED SALT IN YOUR DIET
A QUALIFIED PERSON SAYS NOT TRUE YOU CANT LIVE WID OUT SALT CAUSE YOUR NERVES AND MUSCLES WONT WORK
THE QUALIFIED PERSON IS ATTACKED BY SEVERAL MORONS
WHY TRY TO BE SERIOUS HERE?
CUT AND PASTE AND TALK SHITE LIKE EVERYONE ELSE MAN
MK UP A NUMBER
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Then the next set of policies were policies designed to restructure the economy and diversified .some of those policies which theBlp and the mcgifgie Mia fought tooth and nail against engineering midday marches
Now going forward the stabilisation has met some if its requirements marked by some progress enable by dwindling oil prices and a rejuvenated tourism industry and declining unemployment
Now presently the govt has extended these policies by which would further create growth increasing employment and further stabilization
The two percent which has differing factors can register significant gains to strengthen the agriculture leading to less importation of foods which can be bought at home and mostly stop much of the bleeding of forex
Most notably as the opposition side continued to recite doom and gloom there was absolutely garnered by which one can gladly say they have the correct formula
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Freedom Crier August 19, 2016 at 12:57 PM #
THE BLOGMASTER IS SUPRESSING WHAT YOU HAVE TO SAY JUST AS THE MAIN STREAM MEDIA IN THE USA DOES
EVEN THOUGH BU SAYS YOU DONT KNOW WHAT YOUR CONTRIBUTION MIGHT MAKE
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BU SAYS JOIN IN THE DISCUSSION, YOU NEVER KNOW HOW EXPRESSING YOUR VIEW MAY MAKE A DIFFERENCE.
WHAT THAT MEANS IS FOLLOW THE LEADER AND DO AS YOU ARE TOLD
IT MEANS DONT HAVE A MIND OF YOUR OWN
IT MEANS DONT SHARE WHAT IS MEANINGFUL TO YOU
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Dey does got a fella pon here dat does say, ‘oh loss, ma belly, I bawling in laff’. Or some shittte so, but dis Crier of Freedom tek over now as the comic relief.
Ma brother Freedom don’t you have a facebook! Wha bout snapcat or twittter? If Blogmeister tired of your Bart Simpson BS spiels then what is your problem? Carry your voice of truth other places.
And Georgie Pudding and Pie encouraging you wid fancy talk bout main stream media. Reality check time brother Freedom. This is not main stream. Lots of alternative options these days.
Day long dun wid when de Advocate or Nation could keep letters or opinions from the public. Massa day DUN. Man stream my coney.
You gots de power to start yah own blog anytime. Anywhere. Anyhow.
Just leh we know when yah start, yah hear. Dis David fella is a nice laddie so he would let you post your new site info here too.
And den all ah we along wid Pudding n Pie first gine flock over to you and leff lousy David all by he lonesome.
Chin up and new blog on…go for it! I offer you my Cruz pledge that I will endorse your blog and leff David. heheheehe. I will even speak at your convention — oh shittte, mean your blog.
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@ac
I am pleased that you recognise and make an open admission her eon BU that having not been able to grow the economy and thereby having to print money with the attendant side effect of running down foreign reserves, the DLP government has decided that they must depress consumption by taking every single last cent out of pockets of bajans.
The DLP as presently represented and constructed is hopeless failure at the administration of governing Barbados. They have repudiated everything the were elected on in 2013, a crying shame and a despicable act buy an group of uncaring morons.
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DAVID I HAVE TOLD YOU ONCE THEY HAVE AWAKENED IT IS HARD TO LULL THEM BACK TO SLEEP!
WHEN I GO MISSING THEY WILL UNDERSTAND WHY… I THINK THE GET IT!!
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The DLP look like a broken lot in the recent budget. They realise that the hoax was up and that the Opposition and the people now know the truth. They have been lying for so damn long that it must have been a welcome relief to be able to stop having to juggle so many untruths all at the same time.
BARBADOS IS A FINACNIAL AND ECONOMICAL MESS AND WE ARE GOING TO BE PAYING FOR THIS GOVERNMENTS DECEIPT FOR A VERY, VERY LONG TIME. AS A COUNTRY WE SHOULD HAVE BEEN ADDRESSING THE ISSUES 3,4,5 YEARS AGO.
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Iggi Brathwate … YOU SOUND IDENTICAL TO PIECEUH….
YOU COULDN’T ANSWER MY STATEMENTS ON “TRUMPISM”, BECAUSE YOUR IGNORANCE ON THE SUBJECT WAS DEFLATED BECAUSE OF YOUR IGNORANCE ON SOCIALISM PERIOD!!…
YOU DO NOT RECOGNIZE THAT THIS PRESENT ADMINISTRATION IS THE EMBODIMENT OF THE SOCIALIST/COMMUNIST IDEOLOGY??
BUT YOU COME HERE SPOUTING YOUR USUAL SAND ON THE BRAIN CRAP…
YOU KNOW EVA TING, YET YOU HAVE MISSED THE MARK BY MILES.
YOUR TUNE IS SO OUTDATED…
YOU WERE ECSTATIC WHEN YOU THOUGHT THAT MYSTRO BLOCKED ME, YOU WERE CELEBRATING….
BECAUSE IT MEANT THAT OTHERS WOULD HAVE TO CONTINUE TO PUT UP WITH THE LIKES OF YOUR VILE VERBAL ASSAULTS THAT IS YOUR EXCUSE WHAT YOU PERCEIVE AS LOGIC!
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ACs, it’s about time you come with specifics rather than your usual political rhetorical generalized statements. Persisting in the use of certain economic terms does mean you have knowledge of the subject, which is proven by your comments.
Restructuring an economy simply means a “structural change in the economy” and is a term often used by politicians and politically aligned economists to explain the slow process of economic growth and creating employment opportunities.
In economic terms restructuring is basically a reorganization of economic activity to provide the foundation for economic growth in the long run.
An example of restructuring an economy is changing from an agricultural based economy to a service based structure. Recall that prior to the mid 1800s, the US economy was more or less an agrarian based society consisting primarily of shop keepers and farmers. The Industrial Revolution facilitated a structural change in the US economy into a manufacturing-based economy.
A diversified economy is an economy that has a number of different sources of revenue that provides the country with the ability for sustainable economic growth because there is not a reliance on one particular type of revenue source. This diversification provides countries with the security and reliability needed so that if one source of revenue should decline, there is an availability of several other revenue options.
Bearing the above information in mind, I’m sure you’re aware that Barbados’ MAIN SOURCE of INCOME is EARNED from tourism.
According to you, the DEMS developed “policies that were designed to restructure the economy.” To examine your comments within the context of “restructuring and diversification,”
1) I’m sure you are aware the sugar industry has declined significantly, to the point of awaiting a post-mortem. There isn’t any EVIDENCE to suggest the Barbados economy has “moved away” from traditional tourism to OTHER industries. Rather, there is an emphasis on revitalizing the tourism industry and encouraging investment in that sector, as demonstrated by the hotel projects.
2) Surely you must agree the Barbados economy is NOT DIVERSIFIED, since the island does not have DIVERSE SOURCES of revenue, but is heavily RELIANT on revenue EARNED mainly through TOURISM. Remember, this DLP administration has attributed an INCREASE in economic growth SPECIFICALLY to an INCREASE in TOURIST ARRIVALS and NO OTHER INDUSTRY.
Taking these facts into consideration, perhaps you may want to “explicitly” substantiate your contribution by listing and explaining “the next set of policies (that were) designed to restructure the economy and diversify” the economy.
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Oh shittte, freedom ma brother seize and settle. I care less if you come or stop writing. I does read when and where I want to read. You does plaster a lot of socialism stuff dat I read years ago. I tek my sense from it dem so come wid something new, fah real.
If yah feel dat dis administration is socialist and dat now in the last 6 months ah de man time in office that your plastering will change or impress anyone den I am happy for you.
I does run a very small blog myself so I laugh real hard when you tell de man who does run diis blog dat he blog will fall apart if he kick u to de curb. And sounding serious too.
I don’t know why yah cussing my backside doh. I just offer my opinion dat if yah left dat all a we gine come wid you. Just like how Donald would say dat he want lots of a black people in he buildings. Why yah believe he and cuss me. Cud dear, dat ain’t fair.
Enjoy yourself do and don’t insult dat Pieces fella so do. I is a small bran fella and he is a big brain.
BTW, wha question yah ask bout Trump!
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LOL @ iggi
ha ha ha ha hah
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Water your garden
so that you may grow
harvest is approaching
got to reap in what you sow
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Iggi
BIRDS OF A FEATHER THINK LIKE EACH OTHER.
IF YOU LEARNED ANYTHING ABOUT SOCIALISM YOU WOULD BE A JOHNATHAN LIVINGSTON SEAGULL AND WOULD NOT EATING GARBAGE LIKE THE REST OF THE FLOCK!
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Focus on the Land and the Names of the crooks will pop up like corn, Both the members of the DLP and BLP and the DBLP old and new are in this deep , None can hide now,call any name you cant be wrong,Lawyers and Judges alike.. World reset in Banking is here,
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Yes Freedom Crier You will go missing very soon. You and the others who have no regard for the sensibilities of others and wish BU no good will not win this battle for editorial control of BU.
To those who spout violation of the right of freedom of expression SUE BU!
JA
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http://www.barbadostoday.bb/2016/08/19/danger-lurks/
Since the ACs are hailing Arthur as an accomplished and believable prophet, maybe they can explian this…lol
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FC = GP
FC = MB
GP = MB
GP = Zoe?
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a war of words “CANT WE ALL JUST GET ALONG”
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From the look and sound of it FC= GOD the all seeing, all knowing. All the rest of us are mere mortals. We must drink in every word because we are all incapable of one logical thought.
Tee-hee!
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BU household is starting to warm to this guy Herbert.
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Diversification can be medium or long term.
Certainly for it to be meaningful it must at least be a 3 year strategy which, given that the DLP has in no form or fashion sought to implement either of the two, that alone should underscore why, after 8 years of guessing they are going to be voted out from every single seat.
@ i(ggy) Brathwaite
I was sneezing all day long and when I came here I see that Sand Nigger been calling de ole man name all day heheheheh
She be a strange out patient that, if she were to have your home address, would come to your home and throw sheself pun a body, I lie?
Lef she.
Day gine run til night catch it…
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i billion dollar to shore up reserves in five years the blp
http://www.barbadosparliament.com/video/view/417
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Not sure what it means but this is the first time since boyhood that David of the BU household did not listen to the Budget debate outside of the statement by the MoF and response by the LOTTO.
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I listened to the LOTO and no one else.I cannot accommodate the lies and deception that is the DLP.I look back on those days of yore and wonder where have we gone wrong.Why this pisspoor parade of MP’s.
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I listened to the BLP’s members, Maria Agard and OSA as well. I just could not bring myself to listen to anymore lies from the DLP.
I tried to listen to Donville but he was his nasty obnoxious self. He was so uncouth during Hinkson’s presentation and what I liked, Hinkson totally ignored the unmannerly Dumbville.
And the other spiteful bitter woman in the chair allowed this behaviour. At least the crooked speaker would have rained Dumbville in.
What’s wrong with the bitter Mara? True to her name…….bitter by name and in person. She has all the money in the world and still cannot appear to be happy and spews so much venom at MAM. Does she know that harbouring so much hatred to someone is dangerous to one’s health?
I tried to listen to Steve Jacket to hear his response to the $151,000 spent on the Seniors visit to Utah……..how pathetic was his response…………no one says these things are not worthy of attending but the country has no money, we are broke and this government can find $151,000 to spend on retirees to go gallivanting doing what they never did in their day on taxpayers dimes……… the taxpayers are helping retirees to tick off items off of their bucket list.
Just think how much supplies that money could buy the QEH to help so many more people!
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Where does the poor rakey Attorney General get off referring to a former highly esteemed Attorney General, Sir David Simmons as “one David Simmons”. ……………and do you hear the arrogance? …………”keep your thoughts to yourself”………….
I want to tell Adriel Brathwaite something that I am sure he knows………..you are the worst AG this country has ever had. Lawyers come from overseas and have told me you do not know any law………. how the hell a man like that could be AG of Barbados? You have brought this office to shame many times by your personal deeds and public deeds. You are the worst………..you are not even worthy to wipe dog poo off Sir David Simmons’ shoes.
So shut to hell up, you do not have any respect for the office you hold even to know an AG should not criticise another AG like that……………and to think Sir David was only trying to help…………you are a low life idiot!
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@ David
BU household is starting to warm to this guy Herbert.
+++++++++++++++++++++++++++++++++++++++++++
Check back – Sagicor Blog probably – and see if Bushie has not identified him as one of the MMEs of local business… A sure pick for BUP….
Sagicor’s loss …Goddard’s gain.
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Prodigal….someone told me a couple days ago it’s not the first time David Simmons came out talking about crime and bribery and corruption. ..it’s always around election time and it’s always about the report and recommendations Simmins himself had as attorney general, then as chief justice and did nothing about, did not stop crawling into bed with the criminal Peter Harris working to destroy bajans and did nothing to stop the corruption at the supreme court, but continued to aid and abet that corruption….
.I am sure Simmons and Adriel Nitwit called each other to decide how best they were going to handle the deceit ya now defending….to fool the idiots…lol
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“On the onset of the crisis, rather than develop macroeconomic policy initiatives, this inept DLP administration pursued “political policies” and adopted a “wait and see” approach, perhaps based on the assumption/underestimation the crisis would be short-lived and not very deep. These policy responses proved to be inadequate and may have made the effect of the recession on Barbados worse.”
And if you do not believe Artax ask Dr David Estwick your former Minister of Economic affairs who has consistently blamed his Government for our present predicament.
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Central bank governor Dr Worrell must tell us where this growth is coming from, which sector of the economy? Is it construction? Services? Tourism? Consumer spending? Business investment? Where?
He must also tell us what is the official methodology used the the central bank?
Some people question the bank’s rational decision-making, given that the governor co-authored a serious study last year in which there was not a single reference post-2008, the global crisis that changed the course of macro-economics.
Regarding the obsession with exchange rates, I recommend to the governor a very good book: Imperfect Knowledge Economics: Exchange Rates and Risk, by Roman Feydman and Michael D. Goldberg.
How in the name of Jesus can any rational person writing a learned essay about an economy, any economy, not include a single post 2008 author? But this is what passes in Barbados as scholarship.
The history of economics is full of models, varying from the Chicago School, neo-Keynesian behavioural school, many using the same or similar doctrines of rational theory.
But, as John Maynard Keynes, Friedrich Hayek and Karl Popper all reminded us, no single person or theory can have access to the totality of knowledge spread through an economy.
Most of the central bank’s arguments have been political, not economic, which is the real problem. Even in the few cases when statements are based on economics they are flawed.
Given knowledge imperfections, the debate in Barbados must shift out of a narrow circle of friends and associates.
This is made worse because the local media do not hold the technocrats and politicians feet to the fire, mainly through ignorance, but also hero-worship.
The Central Bank Act is obsolete: is the bank targeting inflation? Unemployment? Growth?
Barbados deserves better..
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three major products between 1994- 08 were all govt sponsored by blp
http://www.barbadosparliament.com/video/view/442
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@ Hal
Barbados deserves better..
+++++++++++++++++++++
Based on what exactly?
…the way we wuk up?
…our hard work and commitment to justice?
…our God-fearing nature?
ALL countries are about to get EXACTLY what they deserve….
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OSA now speaks with a ” Monday morning mentality ” however the advice which he now suggest should have been well taken into consideration under his watch before he took barbados to a high level of borrowing for which taxpayers are dutifully bound to repay
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Stinkliar’s financial acumen never fails to astound me.
According to him, CBC owes taxpayers $75m which is obviously noncollectable but is apparently reported on his books as a valid receivable.
He can’t sell CBC for the value of the debt because it isn’t worth $75m.
He can’t sell CBC for less than $75m or taxpayers would be saddled with the cost of writing off the noncollectable difference and that would actually reflect as a loss.
So the solution is to continue to support CBC, increase the debt to taxpayers ad infinitum and continue to report the ever-increasing noncollectable debt as a valid receivable asset.
This man is pure genius. Any businessperson who would drop CBC like a hot potato and take the current noncollectable hit rather than continue the cash haemorrhage is obviously dumb as fuk.
There will be no economic recovery under Fumble’s Fools.
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@ Frustrated Businessman aka ‘Nation of Laws’ my ass. August 20, 2016 at 8:08 AM
Now you can understand what the economic survival of Bim is up against.
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ACs…yall continue to show what forked tongue, two faced pimps yall are..lol
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Frustrated
Sinckler is only mouthing what others have told him. He does not know which side of a balance sheet is up.
Sent from my iPad
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@ ac August 20, 2016 at 6:41 AM
Here you go again with your fixed yard-fowl position for a weathercock vane spinning from MAM to OSA to blame for your DLP administration’s pathological incompetence.
Is this the same OSA whom you were praising to high heavens just a few weeks ago for his economic competence and nationalistic commitment to ensure the Mottley witch of Bush Hall never becomes leader of BIM? Is this the same man you recommended to be the chief economic advisor to the ruling administration?
You are just one genuine volte-faced lying hypocrite whom politicians of all stripes should treat like a sewer rat.
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@ Miller
You are just one genuine volte-faced lying hypocrite whom politicians of all stripes should treat like a sewer rat.
+++++++++++++++++++++++++++++++++++++++++++++++
That is just the problem…
AC is not just ‘one’ …. there are many JAs …and they are yet to get their stories straight…
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Flying fish and coucou just about sums it up for a view of the Budget content.The comment on the guru whom William Skinner admires is not a good reflection of his stewardship,which we all know to be circumspect..The professionals whose advice he appears to ignore and to add insult to injury,the numbskull MoF has also differed with his views,ought to be the final nail in the coffin that should trigger his resignation and so,bring closure to the economic woes he has been overseeing with little success if any.
http://www.nationnews.com/nationnews/news/84636/flying-fish-cou-cou-fingers-boss
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So, according to Stinkliar, the real cause of our HUGE gov’t expense is statutory corporations which are badly run.
They are also the BLP’s fault (of course).
In the eight years this current crop of morons have been running this country, not one minister has managed to direct the statutory corporations which operate under their portfolio back to efficiency.
However, there has now been a startling realisation that, in fact, the business of gov’t does NOT run itself but actually needs to be managed by the cabinet. And to our great comfort, Stinkliar says he should have ‘paid more attention’.
There will be no economic recovery under Fumble’s Fools.
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“The idiot that is the Attorney General is trying to interrupt me.” hahahaaaa
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Prodigal has dealt with the JA Adriel Nitwit.Just so it is understood clearly to the many Adriel Nitwits in this Democratic Labour Party cabinet.Not one of you Aholes can compare with the brilliance and scholarship of Sir David Simmons.He can put any of you to shame,any time,any where.Who dared you effing Nitwit to refer to Sir David,Knight of St Andrew,as “one David Simmons”.You have no damn manners because you were never taught Manners make Man by you know who.Effing swine!
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Frustrated business man indeed you are frustrated .The truth hurts. The many truths which were hidden away from the glare of public scrunity under the blp who boasted of a well structed economy. Truth unlike milk does not spoil and in the coming months the scruillous details and mitigating factors compressed within the fourteen years blp goverance would be revealed .You can holler and scream all u like but the truth would be told over and over again until the blp faced the facts and bear some responsibility of making Barbados a debted nation.
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Yeah…David Simmons really make us shame…corrupt crook with a pimp title that he is, he has honed the skill of being a crook to an artform.
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Bush Tea,
There is a lot wrong with Barbados, including a 1970s invention as our primary culture event. Vulgar wukking up, alcoholism, etc. With doctors, lawyers and senior public officials taking part.
I once asked a teacher how she would feel if her pupils saw her nearly naked wukking up, she said it did not matter. It is Crop Over.
That’s the depth to which the society has descended.
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I think trying to invent a machine to harness the energy of the pelvic thrust or the gyration of the hips would be a more fruitful endeavor than a sermon against wukking up.
That horse left the stable, ages ago.
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Well said, Hal Austin
Sent from my iPad
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Just had that conversation last night about nearly naked teachers doing the dog in August and expecting respect from their teenaged male students in September. I was told that teachers do not behave like that. I guess that person was wrong. However, I am proactive. I never let my son watch Kadooment until this year when it looked so tame it was boring in the stadium. Can’t have him seeing his teachers so compromised.
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“This man is pure genius. Any businessperson who would drop CBC like a hot potato and take the current noncollectable hit rather than continue the cash haemorrhage is obviously dumb as fuk”
Not quite clear what you are trying to say here in relation to the content of your entire comment
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@ balance
Not quite clear what you are trying to say here
+++++++++++++++++++++++++++++++++++++
You CAN’T be serious
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@ Donna,
I guess seeing his doctor, lawyer, neighbours, school friends, members of his church, family friends, your friends doing the dog would not affect him. I think sometimes in an effort to score petty points we look for anything. Teachers are well within their rights to wine and do the dog . Why pick on teachers and not his parliamentary representative, the Governor of the Central bank, the leader of the Opposition etc. One final question: Why female teachers?Gimme break.
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@ Hal Austin,
What else are you going to blame teachers for? While I buy your point that there is some vulgarity and Crop Over needs to be more broad/community based by highlighting other positive aspects of our country, I can’t fathom why you and others have identified teachers as having no right to express themselves as adults. This level of commentary is highly emotional but sadly way below progressive discourse.
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Today there is an interesting article in the Nationnews on “Devaluation a threat”.
When it comes to the true value of the BBD, simply ask the question: Do I get the same when I spend 2 BBD in Barbados or 1 USD in USA? The answer is no. When it comes to food, the value is 1:4 and servicing even worse. I will never understand why the peg is 1:2. That is an arbitrary value. You could also set it 1:1 or 1:3 with same sort of justification.
A currency peg only works under same economic conditions, eg Denmark with the Euro zone. However, USA and little Bim are very different. Look what happened to the PIGS, to Latino Europeans. Weak economies, bad work ethic, corruption, crime, poverty, misery. They will never recover within the Euro zone. This currency is made for the protestant work ethic of the North. The PIGS need a currency devaluing at least 5-10 % every year to catch up low productivity and budget deficits. Even Britain had big problems in the past to preserve the value of the pound against the rest of Northern Europe.
If the current taxation policy was right, we could face the following scenario: Let us assume the USD reserve falls to 100 millions. Following the Voodoo logic of Central Bank, VAT should be increased to 30 % to prevent Barbadians spending foreign currency. Does that sound right? Not to me.
To sum of, the exchange rate of 1:2 is a national obsession without any rational justification. I do not argue against pegging itself but just against the current ratio which is obviously not working anymore.
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