The Grenville Phillips Column – The Four Horsemen

The Barbados Economic Recovery Team is administering their bitter medicine in small doses.  They appear to have learnt from Guyana’s experience with the IMF, where the Guyanese politicians used a big spoon.  Since the result will be the same, it is less messy and less socially disruptive to slowly boil the frog.

But, why must the frog be boiled at all?  We do not.  But it is the only method that the Barbados Economic Recovery Team (BERT) understands or received their training, so they appear stubbornly unwilling to review any other solution.

There are no boundaries warning of danger that they will not cross, no promises so sacred that they will not break, and no cases deserving of compassion that they will not ignore.  Like the four horsemen of the apocalypse, they are pursuing a singular focus – severe austerity to all who are not at or near the trough.

We should not be surprised since this austerity was foreseen.  For the uninformed, first, they will reduce our salaries with high taxation.  Then they will reduce our savings by ensuring that our salaries cannot pay for our normal monthly expenses, so we will be forced to use our savings.

Then they will reduce our pensions through debt restructuring, which is a method of breaking sacred promises made to investors, including to our pensioners.  Then, they will facilitate the reduction in the asset value of our houses when homeowners are unable to pay their monthly mortgage payments and the banks foreclose, which will over-supply the housing market.

Finally, they will orchestrate the brain-drain of competent professionals from Barbados by exclusively rewarding their most incompetent and most partisan yardfowl supporters, and frustrating the most competent among us.  This makes the country’s local businesses internationally uncompetitive , which is the ultimate aim of international financiers who entice irresponsible short-sighted politicians to get their nations into unsustainable debts.

Our dollar does not need to devalue for us to arrive at the same place – which is the devaluation of our salaries, savings, pensions, assets, professionals, and local businesses.  We are just taking the scenic route down.

There have been several tour-guides employed along the way, to encourage us that our suffering is essential to Barbados’ economic recovery.  They have been dispatched to tell us that we must patriotically bear the pain, while they gorge on spillage as their masters feed.

Let me clarify that if severe austerity was the only path out of our economic problems, then I would join the partisan yardfowls, not at the trough, but in encouraging all Barbadians to bear the suffering for the sake of the next generation.  However, there are at least 4 non-austerity plans on the table.  Yet BERT is on a mission that will make us suffer, and they will neither be dissuaded by us, nor restrained by the BLP administration, from their singular purpose.

The last administration followed the same economic plan.  It was not called BERT, but multiple variations of a medium-term economic strategy that continually failed to meet its targets.  This time the plan is the same, but the actors are different.

Former Prime Minister Stuart gave the former Minister of Finance a long leash to inflict measured austerity.  The current Prime Minister has unleashed what seems like the Four Horsemen of the Apocalypse to inflict severe austerity, and a rodeo clown to keep us distractedly entertained.

Grenville Phillips II is a Chartered Structural Engineer and the founder of Solutions Barbados.  He can be reached at NextParty246@gmail.com

241 comments

  • “WARU et al are programmed, so my intent is to show them up as what they are:”

    ya will see who is programmed when one of ya political masters get grabbed…hope ya in their company when that happens and you get grabbed too….lol..

    ..this time it may not be an ankle bracelet…just remember..Donville said much more than that….so much more than that…

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  • I dare u to.point me in direction where govt had a plan wherby the elderly and handicap could easily avail Transportation at no cost to get out of flood prone areas and taken to shelters

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  • As a matter of fact, if I remember correctly..Donville came on the same social media gushing..”lock them to f…..c…k…up. man lock them up”….

    …a mere week before he too was locked up…so carry on yardfowl..

    ya see how much more he had to say and he too had yardfowls…gotta say had, because am sure none of them are traversing between NYC and Miami with him like a tourist….up and down to court..

    yall know already ya got 15 second attention spans, ya done know.

    Don’t look for me to do much reminding, am enjoying all the drama way too much…free laughs and entertainment..

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  • Theo
    You ain’t gine see me and doan see me?Wasn’t sitting on the paling in reference to the “GWP Land Gate” issue, in other terms–sitting on the fence? No I did not submit your resume, the company made it clear that they were looking for people with critical thinking skills. But the UN paying clerks $US150,000/year, you should apply. Murdaaah. You’re right for once–I am not a party insider; but how many times have I said that to you? Not a brainiac neither, but know igrunce when I see it and know the difference between an MP and a candidate. Rest muh.🤣🖐🏾

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  • Theo…don’t mind Enuff..it always comes out in the wash, then they twist their mouths in new directions…the blighted plight of yardfowls…lol

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  • Here is a synopsis and a bird’s eye view of what Dale the Duffus Marshall meant when he said

    PEOPLE WERE IN THE SAFETY OF THERE HOME when Kirk arrived. bringing with him rising flood waters

    The Elderly
    The Handicapped
    The sick
    People with no means of alternative transportation

    But then again Mia gor this one

    The

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  • If my birds eye view is not clear enough
    Imagine a blind man treading flood waters to escape the rising waters
    Or even imagine a stroke victim
    Or an amputee
    Or does anyone remember what happen to Carew when rising flood waters entered his home

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  • Talking Loud Saying Nothing

    “Qatar emir to visit Latin America to seek allies amid blockade
    Sheikh Tamim bin Hamad Al-Thani’s tour starts Monday as Doha seeks new alliances in face of Gulf blockade.”

    Interesting story. If I were Mia I would contact the emir.

    https://www.aljazeera.com/news/2018/09/qatar-emir-visit-latin-america-seek-allies-blockade-180929153302817.html

    Like

  • Enuff my friend, what do you think of the idea of connecting with Qatar..

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  • My Dear Enuff,

    Thanks for the feedback on my resume and the suggestion to seek alternative employment at the UN.

    Can I use you as a reference? Can you put in a good word with the Minister who is will ultimately approve my application? That’s what friends are for.

    On critical thinking skills…Let us assume that I can think… and I have been highly critical of your many comments…… the skills part is a bit challenging but as my buddy you can fudge a little,

    Please forward my resume to the UN hiring manager

    Wishing you the very best,.

    Your friend and #1 admirer

    Theophilius.

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  • RE does anyone remember what happen to Carew when rising flood waters entered his home

    YES CAREW WENT PUN TOP HE HOUSE TO RETRIEVE THE MONEY HE HAD HIDDEN IN THE SOLAR HEATER HE WAS GIVEN AS A PRIZE, WHICH HE HAD NOT YET CONNECTED

    HE WAS LAST SEEN ALIVE WAVING ON TOP THE HOUSE AS IT WAS TAKEN OUT TO SEA

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  • BU was tagged on Facebook with the following:

    Douglas Trotman is with Arturo Edward and 49 others.
    28 September at 12:22 ·

    Some extracts from a recent IMF article. Have we defaulted on our premium payments?

    We are entitled to claim for “excessive rainfall” from TS Kirk… this offsets any shutdown and allows for recovery.

    “The CCRIF insures against tropical cyclones, excessive rainfall, and earthquakes. All 17 participating countries can purchase up to $100 million of coverage for each category of risk. The program is designed
    to finance emergency response, over the weeks and months after the disaster, rather than provide comprehensive insurance against asset losses or infrastructure damages. The insurance is parametric—payouts are based on parameterized models for each category of
    insured events: tropical cyclones, excessive rainfall, and earthquakes. ”

    “Predetermined payouts, based
    on publicly observable data, obviate the need for
    time-consuming and costly damage assessments and
    insurance adjustments. A downside of parametric
    insurance in response to the effects of basis risk; that is, calculated payouts might not match the actual damage.”

    “During 2007–15, the CCRIF made 13 payouts to
    eight members in the total amount of $38”

    “Anguilla, Antigua and Barbuda, The Bahamas, Barbados,
    Belize, Bermuda, the Cayman Islands, Dominica, Grenada,
    Haiti, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and
    the Grenadines, Trinidad and Tobago, and the Turks and Caicos Islands joined at the inception; Nicaragua joined in 2015. The CCRIF is contemplating expanding beyond the Caribbean.”

    “The payouts ranged from 0.1 to 0.3 percent of GDP for the recipient country. While the payouts do not cover all losses, they offer important support to
    insured countries, including from the rapid disbursement of funds—payouts have been disbursed, at the latest, two weeks after the insured event. In addition, CCRIF members are given complete freedom regarding the use of the funds received.”

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  • We know that from a pay out Barbados got already, the former government got a pay out years ago for Hurricane Tomas I think it was…many people with damaged properties never saw a dime of that money to fix their homes…actions of a corrupt g5ivernment..

    … the newspapers in NYC carried a story of the pay out to government and other islands from the carriers overseeing that fund.

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  • actions of a corrupt GOVERNMENT..

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  • And yes…Marshall should have shut the country down at 3pm…there is no damn excuse, having the image of 3 million dollars stuck in his head was no excuse to keep businesses open and risk the lives of workers.

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  • Kirk has shown that present govt are the following
    Insenstive
    Arrogant
    Rude
    And just dont give sh.it about people
    The idea of advising people to go to work after a major weather storm which caused flooding power outages and potential hazards to people lives and homes provides enough fuel for though that( is ) derived from a lack of compassion
    Never mind there comments of an insentive nature that compounds and worsen a situation when the duffus Dale Marshall rather than take responsibilty for not having a plan to provide a safe haven for those living in flood prone areas
    Thought it best to exercised more of his ignorance when stating the people where in the safety of their home even when faced with the devastation of the high levels of water that had entered the homes
    This kind of arrogrance is beyond onr’s comprehension and should not be tolerated
    A simple apology to those people highly affected by the flooding while providing a hope for a better plan for similar curcumstances would have suffice
    Unfortunately this govt would continue to use a policy of smoke and mirrors placed on a hopelessness of PR dribble while the country continues to drown in fear and burdensome nightmare policies
    God help us all

    Like

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