Grenville Phillips II, leader of Solutions Barbados
Since the DLP have not corrected the fatal flaws in their economic development plans, and the BLP are unwilling to offer any workable solutions, then if we continue on the current path, devaluation of the Barbados dollar is certainly foreseen. Based on their past governing experience, Barbadians are unprepared for the level of misery that they will experience if they elect either of these two parties to form the next government. If you are currently employed, then you need to start preparing for the nightmare scenario – which is the focus of this column.
If your employer has to convert foreign currency revenues in order to pay all or part of your salary, then your employer is an exporter. Persons in this ‘export’ category include: maids and gardeners in foreign owned villas, all employees in the tourism industry, all employees in the international business industry, and all employees of those who directly export goods or services. These employees need to politely request a meeting with their employer, either individually or collectively, in order to renegotiate the terms of their salaries.
Currently, the basis of most Barbadian employees’ salaries is the Barbados dollar. Employees in the ‘export’ category should request that the basis of their current salaries be in US dollars, but paid in the equivalent Barbados dollars. If the company claims that it only exports say, 50% of its products, then the employees should not expect to have more than 50% of their salaries based on the US dollar, but paid in the equivalent Barbados dollars. This should protect at least part of their salaries from a devaluation of the Barbados dollar, which the IMF has repeatedly warned is a likely inevitability if we remain on the current path.
In order for employees to protect a larger part of their salaries, the company needs to export more. This will require that the employees innovate by working better (not necessarily harder or for longer hours), and that the company is effectively managed. Employees need to keep asking themselves this question: “How can I do this task better, faster, more accurately, and using less resources.” If the consequences of failure are low then just try it. However, if the consequences of failure are high, then get prior approval from your supervisor.
Employees in management posts need to manage the company using the most effective parts of the ISO 9001 Quality Management System immediately. The entire ISO 9001 System does not need to be implemented at this stage, managers just need to start using the most relevant parts.
You need to start negotiations now. You are more likely to succeed if you do not discuss any type of salary increases in these negotiations. The singular aim of this meeting is to protect your future salary. If you wait until after the expected devaluation, then your employer may be tempted to greedily add the devalued portion of your salary to the company’s profits.
If you are employed by a statutory corporation, then you will likely be the first on the proverbial chopping block if the statutory corporation is badly managed and unprofitable. A properly managed business is normally profitable. Therefore, it is in your family’s interest that you work in an ISO 9001 quality management environment. The ISO 9001 system encourages innovative thinking among all employees and addressed complaints permanently.
If statutory corporations in Barbados have not implement the ISO 9001 quality management system yet, especially given the obvious foreseen dangers, then that is an intolerable level of irresponsible mismanagement. Employees should request a meeting with the CEO and insist on being managed in accordance with ISO 9001. If the CEO says no, then they need to appeal to the Chair of the Board. If the Board also says no, then both Board and CEO are behaving like children carelessly playing with toys.
Unfortunately for you, those toys are your family’s financial future. Therefore, those employees need to contact their unions and shut down all irresponsible statutory corporations until both the Boards and CEOs are replaced with more responsible people.
The most vulnerable persons will be the unemployed and under-employed. These people should be trained to start home-based business, where most of their sales are on the Internet and most of their revenues are in foreign currency. Given the business and Internet components, the Barbados Investment and Development Corporation and the National Council for Science and Technology should facilitate workshops to teach Barbadians how to set-up profitable businesses with little-to-no start-up money – with dispatch. I am available to help.
“devaluation of the Barbados dollar is certainly foreseen”
At least one man speaking out what every sensible person on this island already knows.
However, devaluation will undermine the trust in the local currency so much, that the USD will become the second, inofficial currency to pay bills. Therefore, some companies in the export industry, in banking, offshore financing and tourism might decide to pay their staff completely in USD.
The rest, including civil servants, get what the light-minded masses deserve: A salary increase of 23% in a devalued Mickey Mouse currency without value (cf Jester Ince). It will be most interesting to see what happens to ministers, judges, high bureaucrats and pastors: Do they get paid in USD as well (unlike to normal civil servants) or do they receive a salary increase of 100% to 200% to make up for 50 years self-inflicted postcolonial mismanagement.
We will face interesting discussions after devaluation. Wait und see.
When we have VAT and TAXES that take away from your money , when prices goes up and that put more on the VAT and the taxes, When you get 5BDS an hour , when water, light , internet,gas, oil,land tax bills and food, cost of living and all others things,road tax, bus fare, taxi, plane tickets, surcharges, in USD$ and not BDS$,road taxesand now insurance rates to go up after a few road accidents where they dont even payout on time or never Every move you make is a killer and dont run into a lawyer, That Devaluation on the inside of Barbados ,
You mean to say Devaluation from the outside, as it stands right now its 199.37 usd$ to the Bajan dollar and to change cash you now only getting 1.95 inside Barbados to the USD for the Cent is gone,
More Pain will come with the help of Land Fraud Clico Bank laundering and Massive lies by Both Parties of the DLP and BLP.
As Posted today will have to watch on line Banking and credit banking in Barbados, where rule of law is weak and the DPP and AG does nothing only to the weak, small and poor, Life and care of the Peole have been devalued,
Addendum (from Nationnews.com):
“Sir Courtney Blackman in Florida and Winston Cox in Quebec, Canada, were joined by Charlie Skeete, a retired Inter-American Development Bank economic adviser who lives in a Virginia”. That says is all. Florida, Quebec and Virgina, not Barbados.
Relocation and capital flight already happened. I predict a sharp division between slums (“homelands”) and gated communities (“sanctuary cities” with 10,000v fences) soon after devaluation – just like South Africa. Also increase in crime, prostitution, corruption, begging and replacement of normal hotels by all-inclusive-hotels.
http://www.nationnews.com/nationnews/news/95355/bizzy-treasury-election-funding
Who asking or begging the whiteman for money?, to many slaves running and have no idea to be Free from their masters who help put them in slavery to start,
Based on our level of productivity and living standard, Barbados with a pegged exchange, should have a minimum wage of a US$4.50 per hr. (ie 60% of us federal minimum rate).
Forty,
Are you sure productivity is 60% of US?
Compare GDPs: 15971.01 US dollars in 2015 for BB versus 51638.10 US dollars for US the same year (source: Trading Economics). Makes 30% of productivity in US and translates to 30% of 7.25 USD as minimum wage = 2.17 USD.
Barbados can prevent a currency crisis by allowing dual currency bank deposit accounts. It may be a prelude to dollarization and the and a sad farewell to our monetary policy independence, but we have fudged enough with it. The unofficial use of the US dollar is already a reality, but people connected with our export industries have been hoarding foreign currency and depressing local discretionary spending to the point where local businesses are still faced with recessionary climate. It might well be found that Barbados is already “highly dollarized” (meaning that there are more foreign cash assets than local cash assets in the economy). This is still not necessarily a dismissal of our Barbados independence dollar because an official semi-dollarized currency can exist once holders of local currency are rewarded with an attractive enough interest rate whereas dollar deposits receive none. In this way people can decide on their portfolios for themselves. The policy forestalls the specter of foreign exchange flight as well as the horror of inflationary pressure caused by the excessive printing of money . . . or devaluation. Once the currency environment stabilizes and confidence is restored, the level of dollarization will fall and we will happily see a resurgence in the popularity of the “Grantley” over the “Grant”. Government should act sooner than later and not wait until we might not be able to justify the 2:1 peg. The peg will lost when there is not enough foreign exchange in the central bank to match the amount of Barbados dollars in circulation !! . . . and we are certain to have a lean year in all foreign exchange earning sectors tourism and agriculture and in offshore business income.
……..not going to happen.
Barbados Today and mascoll and others on Sandy , Truth with Danger , listen well again , Seem like he talking about SB,
CUP is the one Party that can fix all , Hold Me and US to it , Truth with danger for the crooks,
Don’t you guys pay any attention to what the Hon. Min. of Finance says?
There will be no devaluation of the Bajan dollar!!!!!
Carson,
He should stick to his fat MP-car. As long as he can. Sinckler is the typical representative of the political class of a not at all developed country, feeding all prejudices people have about the Caribbean. You hardly know what is front and what is side when you look at Big Sink. In Barbados, 45 years of free tertiary education did obviously not translate into financial prudence. There is no country in financial history which did not collapse under numbers bad as Barbados. Productivitiy reaches 30% of USA (given my personal experience low as 10%), but the pig, eh peg is 50%. Cannot work, until you think earth is flat or ministers are honourable or god-like.
@Tron. Your calculation is correct. My calculation was an extrapolation based on The Bahamas rate. The Bahamas rate is in the range from( us$4-$6). Barbados and The Bahamas share a lot of similar economic metrics and standard of living.
Former Prime Minister Owen Arthur warned a month ago that Barbados has 90 days to prepare a plan and to work with the IMF to bail the economy. What is the current position? The country waits for the acting governor of the central bank to speak on the first quarter performance. There is talk about forex falling to below 400, 000.
Will he allow the media to quiz him?
Grenville,
Apart with from your obsession with ISO standards, it is not a question of if there will be devaluation, but when.
How Barbados got broke.
Yes we are broke. When your liabilities exceed your assets and your expenditure far exceeds your income and you have no plan to change that fatal condition except printing more money, you are hopelessly broke. Listen to the man. How can we hold the stupid and incompetent politicians who have brought us to this sorry pass accountable?
@David April 6, 2017 at 1:01 AM
As told before, we will face interesting discussions very soon, eg, about ongoing construction projects during the transition phase. The suicite rate in Barbados will definitly increase and lawyers and insolvency administratots will have lots to do.
Inkwell April 6, 2017 at 5:50 AM #
when you have no plan
There never was a plan by the DLP gov’t. This is what happens when lawyers and bureaucrats take over a business. I’ve been typing this for 8 years on BU. The ministers don’t even talk to the PM, how could there be a plan? Stinkliar knows as much about economics as I know about brain surgery and runs the treasury as a fiefdom.
The real tragedy is that this was plainly obvious to anyone with a brain in 2013 but our citizens voted them back in. They were licensed to destroy this country by its owners.
Who can forget the almost one year the country was left to meander during the period of Thompson’s sickneNess. The fact the DLP was relected speaks to the paucity of talent on offer and an unabiding belief in the system by the majority.
Question to Grenville Phillips: Can you confirm or deny whether you and your new political party is funded wholly by Bizzy Williams.
Grenville
Was he referring to your little political grouping?
“”FUNDING FOR ELECTION CAMPAIGNS should be pulled from the Treasury and not the private sector.
This is the opinion of prominent businessman Ralph “Bizzy” Williams, who said that he has had to decline some of the newer political parties which asked him for financial support. “I have been approached and I have said I am not interested. You can be a businessman and you can be a politician, but the two of them don’t mix,” Williams said. “The established political parties have not approached me, but I think that campaign finance for re-election should be funded by the national Treasury, not by private individuals or private companies,” he said. “”
When we face devaluation, the clueless masses who sold Barbados for corned beef and rum will get what they deserve.
It is amazing how BLACK people in Barbados are always ready to cuss the WHITE Bajans , but when they want money they are always going cap in hand to these same WHITE Bajans.
Well Well is one of these Bajans does not matter that she is in Canada. She always has something to say about COW or Maloney yet she is not sending a single cent to fund any of the new political parties who are in dire need of cash. Talk about not putting your cash where your mouth is.
I am sure that they dont get a cent from DAVID either, he is keeping all of his cash on the bank.
Our denial psychosis has become hilarious: Now we seem to be ready to self inflict another wound – NUPW wants a wage increase !! A perfect storm is brewing. How does any party but a labour party hope to win an election in Barbados?
Lee,
Of course, the government can fulfill NUPW´s demand – AFTER devaluation. As soon as we are on a sliding scale like Guyana or Jamaica, the government can pay whatever it takes to satisfy the masses – provided they print more Mickey Mouse-dollars.
An increase in wages in the prevailing environment will cause wages to chase priced -the dog trying to catch his shadow. We have Jamaica and other countries to learn from. There is a reason why history is important.
“All of this will be done by human beings, not under some anonymous name online,”
https://www.barbadostoday.bb/2017/04/06/dems-declare-war-of-facts-on-blp/
How does one declare war on facts?
Should it be to declare war on lies?
>
Freudian slip!
“Frustrated April 6, 2017 at 7:49 AM #
Question to Grenville Phillips: Can you confirm or deny whether you and your new political party is funded wholly by Bizzy Williams.”
Bizzy jumped into the nationnews yesterday and said that the new political parties have asked him for campaign financing and he refused, but of course he could be lying, these minority parasites lie a lot, I believe they all approached the thieves of taxpayers and pensioners money…none have original ideas….
…..the ministers help minorities steal from the majority, then go back and beg them for some money for their election campaign….or beg for election campaign financing, once received and they are elected, promise the minorities million dollar contracts, so they can beg them again later…same cycle over and over….sick, wicked people.
‘war of facts’
Carson C. Cadogan April 6, 2017 at 8:22 AM #@
the whites in Barbados made their money like cow and bizzy by teeefing from the estate of Beatrice Henry and Violet Beckles along with CLICO, Also with the help of Black Ministers and lawyers of Bim ,
Some now may want to go to the same people for they know where the money ends up . They know who sign bad papers to teeef and the banks where the money is held , Ministers black give all their money to the whites to pay the blacks, whites make more money having the blacks in their pockets.
Any new party asking for money are nigger slaves, this is the problem in Bim , Money taking from anyone, black indian or white,
We can asure all that that We not taking nothing from no one, We start out clean and will stay clean,
We will give information and the people will make an inform decision , we spend our own money and our own time,,
The way SB behaves shows in the way he came out, long long talking with no meat on his bones, He still have time as the DLP and BLP make fund of him, When he falls we will catch him , We are not that mean , But he must be SB do not have the S for B. Only the CUP, none of the parties nor NEws in Bim are Barred from caying the word CUP , but we sure they are haveing a CUP of Coffee or Tea each morning, CUP CUP CUP
@David April 6, 2017 at 9:44 AM re “How does one declare war on facts? Should it be to declare war on lies?”—–
A declaration of war on facts, as very recent history has shown us is called: Trumpeting fake news!
It’s then left to the public to almost impossibly try to determine what is fact and what are lies.
A new bold era of political disinformation has been spawned!
Long live free speech one assumes… or maybe long may we have the ‘draconian’ demands to force websites to validate facts or remove them on pain of fines as the Germans are attempting to enact into law.
Yes, it is surely a ‘war on facts’. Syrian leadership did not gas their citizens; it was a cache of rebel held chemical armaments that exploded.
What is fact? What are lies?
Dems declare war on facts.And the Dems get cuss black is white according to the comments following the article.What the Dems don’t understand is Use of English.Who declares war on facts!Brassbowls of course.We know the saying ‘Let the facts speak for ‘themselves’.Effing blind mice.Go and bag wunna heads and stop humbugging people with wunna hignorance.Rotten addled Dems.
Dems declare ‘war of facts’ on BLP.
wunna cannot read doh ?! of……NOT….. on
Hants
A war of facts is what will cut their asses.Their record is indisputable when it comes to mismanagement,bigotry,narrow mindedness,intolerance,corruption etc etc
War started long time , CUP, we using our facts, that they have not dispute, Fact they all crooks , liars and scumbags, Numbers dont lie either , just the DBLP
The government will lose the election for sure, hope they are prepared, 3 yardfowls cannot win them the election…their own members are jumping ship….lol
Last week we still had options, this week we are to prepare for devaluation!!
Wow!
Grenville
Stop the parlor game. Admit it. There shall be no candidates and no slate from your neoliberal businessmen
“Last week we still had options, this week we are to prepare for devaluation!!
Wow!”
I share your sentiments
Pacha,
At the end is no ISO solution after devaluation, but only machete, drums, fire, misery and an electrical fence with high voltage around the gated communities for the happy few.
Given what happened in Greece during the weeks when they delayed payment to IMF, chaos will rule this island. I would not wonder if we see the Navy Seals to evacuate the few tourists next summer.
My personal advice: Store canned food, water, toilet paper. Have your cell phone, candles, machete and barbed wire at hand, if police runs out of fuel to patrol the island.
Anyone read “EPA not so limiting” in response to Grenville’s column by Errol Humphrey?
Grenville
I know you mean well and I admire your scholarship but it shaping up like a repeat of what George Chambers forecast in ’81 addressing Karl and his party in TnT….’not one damn seat ‘fo allyuh’.
Hal: Please do not criticize the ISO 9001 system if you have not operated in such an environment.
Frustrated and Carson: We have not approached Bizzy for any funding or support.
Pach: We expect to have all 30 candidates by the end of this month and plan to roll them out in May.
Northern: We do still have options. However, since neither BLP nor DLP seem interested in pursuing them, everyone needs to prepare for the worst.
Gabriel: Without Solutions Barbados, the voters were forced to choose BLP and DLP. If any of them wins in the next general election, then Barbados loses and the voters have no-one to blame. We will provide Barbados with a competent alternative. If voters select either BLP or DLP, then they will only have themselves to blame.
Best regards,
Grenville
Grenville
Your party’s challenge is to defeat voter apathy and convince enough of the 200,000 registered voters to accept your promises as gospel and to which you will remain steadfast.Its a tough call but it would be a welcome change from what might be out there awaiting a fed up citizenry.
On another topic,I just saw the AG addressing a conference.I have to join Carl Moore and lament the poor standard of the spoken word I just witnessed.The learned gentleman refused to pay attention to his consonants and to syntax.Bloody embarrassing for a public speaking forum. You ought to train or have trained your candidates in Public Speaking.Get hold of some Tom Adams tapes or if Dr George Lamming is available have him assist you.Hear Lamming,Carifesta ’81.VOB or CBC should have the tape.
Grenville will find a more receptive electorate if he is willing to lock up the corrupt ministers whòse crimes against the treasury and pension fund can be found with an audit.
The electorate will not be kind to these opposition parties who will not lock up their fellow politicians.
The BU household has warned about the wholesale view promulgated on BU by some that it is not a straightforward position to advise all and sundry to dump their money in the credit unions. Given the high liquidity in the banking system and limited opportunity to lend because of a depressed economy, low confidence etc there will be problems arising.
http://www.nationnews.com/nationnews/news/95412/credit-unions-caution
What ‘problems’ are these David?
Like Vincent, are you suggesting that we are not big enough people (Blacks) to be expected to handle such funds?
Why are you not asking about the progress made with the ownership of a bank by the Credit Unions?
Why do they not invest in a local Supermarket chain?
Why do they not buy shares in a local organic farming business?
Do they not have the example of Cooperators General as how a co-op owned business can be successful?
Is Oriel Doyle not still available to be drafted to lead such initiatives?
How is it possible for ALL leaders to be so visionless??????
OH Shiite…..!!!
Bushie forgot that we are cursed and blinded by the greed and selfishness that is associated with albino-centric brass bowlery……and that now we have the monument commemorating the complete hand-over to the master of Evil…..
@Bush Tea
You know the answer. The credit union as a group is divided on the establishment of a credit union bank. It will not happen anytime soon.
And as you know again -the credit union movement is not setup to compete with banks hence the moot about a credit union bank.
forget it……
Bushie
Where is the local organic farm.
@ Pacha
The organic farm SHOULD be in the mind of some proactive visionary….
@ David
Don’t mek sport…..
1- There was great division in the creation of the insurance company – ask Pacha.
There is ALWAYS division when SENSIBLE actions are pursued, it is why STRONG leaders are VITAL to success.
2 – The Credit Union movement does NOT need to compete with banks. Do they compete with general insurance? …or do they OWN a company that does…?
All they need to do is OWN the shares of a bank that operates in the local market.
Shiite man!!! what could be simpler?
@Bush Tea
It is not that simple and you know if the two credit unions that own 80% of the market are divided. Where will the capital come from? More importantly where is the mandate.
@ David
History is a great teacher.
But not for brass bowls….
The 59 bombs dropped on Syria yesterday will not help as oil price rises again.
Well Well & Consequences Observing Blogger April 7, 2017 at 7:29 AM #
Grenville will find a more receptive electorate if he is willing to lock up the corrupt ministers whòse crimes against the treasury and pension fund can be found with an audit.
The electorate will not be kind to these opposition parties who will not lock up their fellow politicians.
@@@@
WellWelll CUP We already told SB those main points, But the man seems to be in conflict of interest or love crime as usual,All facts and names need to be on the table and he dont like the names being called, Remember those are the same people that give his company life, so he will tip toe, The Solution for Barbados is not more cover up,crook, liars and scumbags, to watch the crook backs after leaving office, Owen see it coming, so hes out,
@ David
The whole world is mad as donkey…
Only a jackass would believe that Assad would have deliberately used chemical weapons so stupidly, …when he has all but won the shiite war that the US devils started…
FAR more likely that either the CLEAR losers (or their USA backers) would initiate such a blatant atrocity (as has been the Machiavellian norm now for centuries)….as a pretext to regain their devilish objectives…
However, as in all things where common sense is required, the brass bowl sheeple will follow blindly to our deserved demise….
@Bush Tea
Some might suggest it is a bifoot move to hijack the conversation given the pressure of talk about Russia.
@ Bushie, ” Only a jackass would believe that Assad would have deliberately used chemical weapons ”
Unless Assad is an “Ass”….he could have used conventional bombs to get the same result.
@ David
…..or the dirty, Machiavellian tactic of starting a war to create foreign enemies who you can kill at will, while rallying local support….when everything at home is going to shambles.
The situation in Barbados is not much different. Just that we do not have the resources to pick a fight with anyone but other Bajans in the diaspora…..
Bushie says we start with Hal….
LOL
ha ha ha
It would not surprise Bushie if every single day, Froon, Stinkliar and the other political traitors prayer earnestly for some natural calamity to befall us, ….one on which they could unload their woes and burdens….
Bushie,
I surrender and I am not a suicide bomber. I am only a poor boy from the university of the Ivy.
@ Hants
LOL
He did not even have to use conventional weapons.
The damn man Assad had WON!!!
The situation was a mop-up operation….. Al-Qaida was practically wiped out by the Russians.
Passing strange that the USA (who created the whole TERROR shiite) would now declare war on the country that was about to defeat al-Qaida – without even bothering to get the facts of this atrocity (unless they already know those ‘facts’)
….ain’t it???
@ Hal
No need to surrender.
Bajans only talk shiite. you have nothing to fear…apart from a few pips….
We are not even able to get ourselves a stadium for our children to play on – unless the Chinese, Americans, English or some other sugar daddy donate one to us – like they did the Gymnasium.
….and this despite a lottery that claims to put about $25M into sport EVERY YEAR…for the last twenty years…
Somebody HAVE to be lying….
But Bajans are so _???____ that even this seems to make sense to us.
Bushman…..ah glad ya noticed that trump is heĺping ISIS to distract from his Russia investigation and potential treason trial…..ISIS is now the lesser of 2 evils to be sorted out later and Putin is pretending to be fuming.,..lol
Violet…if Grenville Mia and the other politicians cant see that the need to appease the electorate by locking up the current ministers who aided in the rape of treasury and NIS funds, then they too are planning the same thing, the auditor general’s report is available, crimes were committed against the people and their future, this should not be ignored like it never happened. ..I don’t know how any of them could sleep well at night, they are beasts.
Bushie
Whenever this Syria thing is resolved don’t underestimate the abilities of Mossad and the CIA.Jacob and Esau story all over.
@ the Bushman at 10:59 AM re”…Only a jackass would believe that Assad would have deliberately used chemical weapons so stupidly…FAR more likely that either the CLEAR losers (or their USA backers) would initiate such a blatant atrocity …” & “…Passing strange that the USA […] would now declare war on the country that was about to defeat al-Qaida…”.
Apparently, you sit in that neo-con camp that now sees Trump as a ‘convert’ to the ‘deep state’!
As the blogmaster suggested, I can buy the argument that this act boldly and abruptly shifts the Russian noose-narrative that is tightening around Trump’s neck but to offer that the man Trump is part (or has he been duped?) of some subversive Machiavellian plot seems far-fetched.
He spoke aggressively about blowing the terrorists to their ‘Mecca glory’. Why would be abort that popular mantra now to initiate a fight against Assad!
He proclaimed rather cavalierly that he wanted to take the oil. Why would he start a war in Syria where he surely would be engaging with Putin’s soldiers and embroil himself into a wild and dangerous fracas…and certainly capture not one barrel of oil!
The Syrian crisis is complicated. Very complicated. The remarks that paint the CIA (USA) as protagonists are very simplistic. No doubt they have backed rebels and no doubt those same rebels have then supported or even morphed into Al-Qaeda/Al Nusra.
So on the one hand they fight against this dictator of a leader and present as a ‘friend of the US’. And on the other, they fight for their brand of Muslim supremacy and are terrorists…. an enemy of the US.
This is a complex matter and can’t be parsed in a few words.
Despite all that, Trump will start to evolve as some type of world leader if he manages this matter well…but his US based problem will NOT go away. Let’s not be fooled.
Incidentally @David, the oil price will not go crazy from this. Likely the entire business market moreso. His impulsiveness is a major problem.
Anyhow, he has started his ‘down-payment’ on that $54 Bil increase in military spending.
Those 50 odd tomahawks are definitely not the low-cost ones used on Indian reservations and bought from discount stores!
Trump is a psychopathic serial liar who will throw any and everyone under the bus and start multiple wars killing many innocent children and others.to save his own skin, but nothing will stop that Russian investigation, wait until Bannon and all the others start contacting FBI for immunity……there will be a very long line to choose from…it’s only just begun.
If it wasnt for one stupid woman, trump wouldnt have to go in there at all april glaspie
Huff Post quoting Trump’s tweet of 9th Oct 2012,5.39pm
“now that Obama’s poll numbers are in tailspin-watch for him to launch a strike in Libya or Iran.He is desperate”….Trumps poll numbers are currently much lower than Obama’s.
”Employees in the ‘export’ category should request that the basis of their current salaries be in US dollars, but paid in the equivalent Barbados dollars. ”
Good and altruistic idea, however, the flip sid eis that those ’employers’ know that if the Bds$ devalues, their wage bill is suddenly cut, and more $$$ for them.
I know someone who asked for this already and were declined.
But, maybe some out there have a more understanding employer, so those that do, go for it.
A reliable well respected active financial bank BIRDIE(Road Runner) has whispered in Wily’s ear that their corporate evaluations put Barbados present dollar’s worth at no more than 0.10US $. Hummmmm Barbados $ from 50cents US $ to 10cents US $, Wily’s math says this is a a WHOPPING depreciation, 5:1.
@Wily
What is your point? We all accept the Barbados dollar is overvalued. Successive governments have used monetary policy as a means to regulate no?
@David
Point is that someone with inside knowledge and assessment has put a # on Barbados dollars present worth, the question is who is paying attention…… The IMF(Yes), Barbadian Politicians(Not likely), the Barbadian Populace(Ha, Ha.), Canadian Banking in Barbados(Yes), Potential Barbados Investors(YES).
The point is being taken by those who are in the FINANCIAL BUSINESS and the consequences being carefully Analised.
@Wily
Your 1:10 rate is damned low, but somehow realistic. If we run out of USD, there won´t be a new stable peg, but a sliding scale. In my opinion, the overall purchase power is 1:4 – 1:6, the efficiency of workforce 1:3 – 1:4, so your rate includes further factors (anticipated collapsing financial system, riots, higher oil price, Brexit).
We will figure out soon after the release of new numbers on foreign reserves in late April 2017 – provided the numbers are not “enhanced” as in Greece before 2010.
RBC suggested on BB Today a peg of 1 to 7. We will see how low it goes …
Imagine the faces in the supermarket when they pay 25 dollars for milk and 15 dollars for bread. WOW!