Chaos Theory Meets Game Theory:The Ticking Time-Bomb in the world’s Financial Markets

Submitted by Terence M. Blackett

Chaos Theory meets Game theory: The Ticking Time-Bomb in the world’s financial markets & can we survive the coming economic earthquake
“Give us bread to eat for our money has failed” – Gen 47:15

During a recent online interview, globalist Bill Gates issued this grim warning: “It’s ‘a certainty‘ that we will have another financial crisis like in 2008 (maybe just a whole lot worst).” When pressed on what to do next, the Microsoft billionaire and vaccine peddler answered: “you should look to my friend, Warren Buffett instead for advice. Warren has talked about this and he understands this area far better than I do” he quipped.

Since the 2008 market crash, (11) Central American countries, (9) Asian countries, (7) European and (6) European Union nations have gone cap in hand to the International Monetary Fund. As of May 2015, monies owed to the IMF by the following (10) nations stood at a staggering $72.4 billion with the biggest borrowing countries being:- Portugal, Greece, Ukraine, Ireland, Pakistan, Jordan, Tunisia, Sri Lanka, Cote d’Ivoire & Kenya owing nearly 86% of the total amount the bank has lent to date. Out of all these countries the European Union, by far, is the greatest debtor with some 70% of the $84.57 billion already allocated.

Barbados has just recently entered a structural adjustment program with the IMF with a fiscal liability over the next six years or more (possibly decades) given looming interest rate spikes and balance of payments demands – somewhere just North of over half a billion dollars – adding to the global debt pile of useless paper currency (so-called fiat money) – digital currency created at the click of a mouse (OUT OF THIN AIR); run by Artificial Intelligence Algorithms and summoned up by the ‘gods’ of mammon and then printed from nothing (backed by no hard asset class such as gold) to then fill the voracious coffers of countries run by kleptocrats, liar politicians and megalomaniacs. Hard words you think?

We are witnessing in the (dis) United States of amnesia & paranoia, the richest 10% of AmeriKKKans owning some 75% of the nation’s wealth. Added to that specious equation, is the stark realization that a few hundred families – (400 to be exact), who make up the ‘Synagogue of Satan across the world, own almost 90% of the entire wealth on the planet. The (3) richest being AmeriKKKans – Bezos, Buffett & Gates (the 3 musketeers of predatory capitalism) who hold more wealth than 50% of the US population combined  or 160 million people put together or one third of the 7.5 billion souls on the planets!

Yet so-called educated folks cannot see that this is not a functional, free enterprise (market) system. It’s an “ancient evil” masked as predatory neo-feudalism. It’s a failure of grassroots policy to design markets that value the dignity of work and pay an honest wage for an honest day’s work. As a result, an increasingly 2-tier world has evolved with the “Haves” dominating – insalubriously oppressing the “HaveNots” and what we are seeing worldwide is a level of inequality that have not been seen since the 1930’s or venture to gestimate since the Victorian poor-houses of England.

According to ‘The Guardian’, on the 10th anniversary of market crash – “The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140 TRILLION (£106tn), according to Credit Suisse’s global wealth report. Furthermore, “The share of the top 1% has been on an upward path ever since [the crisis], passing the 2000 level in 2013 and achieving new peaks every year thereafter,” the annual report said. The bank said “global wealth inequality has certainly been high and rising in the post-crisis period.” Can this kind of monetary trajectory be morally sustainable in a world where one-third of its citizens live on less than a $1.00 a day? We must decide!

But the real problem in AmeriKKKa and in so-called ‘1st World countries’ in 2018 isn’t that a small number of folks have done stonkingly well – the real problem is how they’ve done it. At this moment, a series of events are occurring that could send European & AmeriKKKa’s economies into a tailspin. And according to Bloomberg’s latest report, these countries could be headed for an economic disaster bad enough to rival the Great Recession or even more cataclysmic, would see a return to “The Dark Ages” of feudal Europe.

Yet consumer confidence is riding high; jobs are supposedly plentiful with Britain having some 800,000 job vacancies unfulfilled, as Europe finds itself in the same quagmire, (as LIAR politicians argue over ‘immigration policy’), notwithstanding, you have a braggadocious “Orange Clown” in 1600 Penn Ave who speaks with a forked tongue, lauding his so-called accomplishments since taking the ‘White House’ and that things have never been so good in the US economy.

What the majority seems blissfully unaware of is that there is an almost $22 TRILLION ‘demon’ lurking in the room! According to the US Debt Clock, at the end of FY 2018, the gross US Federal government debt is estimated to be $21.48 trillion (not to mention staggering consumer debt at $12.7 trillion according to Forbes). So with a climbing aggregate US debt mountain approaching $40 trillion – all that is needed for a global seismological shock is some unforeseen calamity, which could includes a possible war with China, Russia and Israel over Syria and the alignment of Muslim countries against the proselyte Gentiles who now occupy that small slither of land called ‘Palestine’ (those who call themselves JEWS but as YESHUA said in (Rev 2:9; 3:9) “are the Synagogue of Satan”!

Such an apocalypsus could have damnable reverberations with ripple effects powerful enough to impact everyone on earth, from the vast fortunes of the top 1%, to the retirement accounts (401k’s) of everyday Americans, to European social welfare programmes, as well as, every man and woman of working age, who owns a mortgage or have a modicum savings nest-egged in some predatory capitalist institution – it could ALL be gone in a whiff & a poof!

Sadly, many are not prepared to weather this oncoming storm, having never learned how to protect themselves and their loved ones by hedging assets, diversifying portfolios and as the good ‘ole time bajan folks reminded us to store away for a rainy day.

We’ve all heard the ‘ole folks quote Scripture: “Go to the ant thou sluggard, consider thy ways and be wise…” Regrettably, it will be too late for many in developing economies like Barbados, when your liar politicians are “completely useless” – unable to pay wages to public servants; the supermarket shelves resembling Venezuela & Zimbabwe; riots, protests and bedlam erupting in every town and village across the land and bloodshed etched upon the paradise canvas of our great land.

This now brings us to the praxis of our discussion because many within the gambit of economic theory and political science somehow believe that they can “model” themselves out of the harbingers of chaos, anarchy and bloodshed. What a joke!

As this piece touches on the paradigm of chaos theory (as espoused by the late MIT professor Edward Lorenz), authors Dimiti N. Chorafas &  Robert Trippi et al in their book “Chaos Theory in the Financial Markets” suggest that all is not peaches and cream. Chaos theory purports a revolutionary approach to understanding and forecasting the behaviour of complex systems, as in this case, financial markets. The theoretical penchant employs (no pun intended) ‘nonlinear mathematics’ to identify and understand the underlying rules of evolving complex systems which can deduce far-reaching insights and anomalies into the causal dynamics of financial markets.

Chorafas et al’s book examines a corollary of new paradigmatic perspectives which provide and posit new panoramas on financial market analysis and forecasting. They examined the conceptual framework of chaos theory and the role mathematical modelling plays out in providing forecasting data; how the use of nonlinear equations and fractals forecast currency markets (e.g. FOREX TRADING) and how genetic super-algorithms has provided a hotbed for AI through complex neural networks.

In essence, Chorafas & co. believe that as have been stated earlier, post-antediluvian man somehow possesses the algorithmic capacity to model himself out of any financial crisis, with the right technological appendages. For some, that is too simplistic an anthropocentric value-laden hypothesis that is as 100% accurate as weather forecasting, for which the ‘godfather’ of chaos theory Lorenz would be spitting in his coffee and rightly cringing over such unproven theoretical positions unsubstantiated by any critical data analysis.

In the vortex of variables, Clyde & Osler writing in The Journal of Futures Markets, Vol. 17, No. 5, 489–514 (1997) cited that as far back as 1992, it was reported that “the results of a Bank of England (BOE) survey of foreign-exchange chief dealers in which 90% of those surveyed said they used technical analysis in making decisions. Most respondents reported using both fundamental and technical analysis, with a bias toward using technical analysis for shorter horizons and fundamental analysis for longer horizons (Taylor & Allen [1992]).

As a result, nonlinear predictive analysis lends credence to the fact that if trading is to be a profitable exercise, specific fundamentals must be understood. A balance of trade, industrialized mechanics, exploitation of data processes and the use of intellectual properties which produces what many believe are accurate ‘models’ which can interpret future financial trends over the short, median and long term.

The question then arises: ‘Did no one see the market crisis of 2008?’ For the few who were blasting the claxon for two or three years before (like Harvard Professor Niall Fergusson), why were the pundits on Fox News et al paying deaf ears to the warnings and insincere lip service to the subterranean seismology which led to the collapse of (first) Lehman Brothers, followed by a raft of other major banking institutions which all went belly-up and had to be bailed out and bailed in by taxpayers dollars?

Hence, a commonsense approach dictates that small emerging 3rd world economies cannot continue to borrow their way out of a financial bottomless pit or use burdensome taxation measures as a means of funding state enterprises or to fuel tax receipts. Many such economies are still stuck in a pre-industrialized Victorian age model, when in fact the world has morphed beyond a post-dotcom era to what many are describing as an electronic civilization based on “Artificial Intelligence”, a worrying hyper-reality of change which guys like Elon Musk tried to describe as a pre-Cosmo-Industrialization era based on Civilization 2:0 (a topic being currently explored for a post in the near future).

Chaos theory elucidates this brave new world frothed with unimaginable perils lending very little room to bad decisions on the part of liar politicians, predatory capitalist entrepreneurs and other leaders who are still stuck in a vortex of mindless greed and self-obsessed pseudo growth through market casino gambling, baseless algorithmic trading and a market model that is a house of cards built on shifting desert sand.

Many believe that the IMF is not the lender of last resorts and that this is a fundamentally flawed theory when the biggest and brightest amongst us understand the basics of chaos theory. The modular tectonics of the IMF lends to an outdated model also (using the words of the Archbishop of Canterbury recently regarding predatory lending and vicious venture capitalism), he opined that these concepts are “rooted in an ancient evil”. Europe, more than any peoples on earth should understand that evil as the model below shows when analytically taken beyond face value.

The monetization of diabolical levels of debt will never be sustainable regardless of the game theory employed by econometricians and others. Debt remains debt until it’s either paid or written off which bring us to this concept of ‘Game Theory’ and how slick academics who believe that this theory is a framework for hypothetical social situations among competing actors and it is the science of strategy and manoeuvres, or at least the optimal decision-making of independent and competing actors in a strategic setting.

The ‘godfather’ of game theory Nobel Laureate Lloyd S. Shapley believed that the process of modelling specific strategic interaction between two or more players in a situation containing set rules and outcomes through observational analysis. In Allen & Morris, a piece entitled “Game Theory In Finance” cite that “the focus of Keynesian macroeconomics on uncertainty and the operation of financial markets led to the development of frameworks for analysing risk. Keynes (1936) and Hicks (1939) took account of risk by adding a risk premium to the interest rate. However, there was no systematic theory underlying this risk premium. The key benchmark theoretical development which eventually led to such a theory was von Neumann & Morgenstern’s (1947) axiomatic approach to choice under uncertainty. Their notion of expected utility, developed originally for use in game theory, underlies the vast majority of theories of asset pricing…” The market has proven since 2008 that there are inbuilt limitations in their mathematical framework model which makes the theory applicable only under special and limited conditions removing safeguards invariably when massive flux and volatility slams into the markets.

Another warning was issued a few days ago when Marko Kolanovic, JP Morgan’s head of derivatives and quantitative strategy who holds a Ph.D. in theoretical physics believes that the United States is heading for another period of massive volatility with social unrest not seen in 50 years. He believes that the US is hurtling towards what he calls the “Great Liquidity Crisis.” He believes at the foundation of his prediction is the growing network of computer trading algorithms which will force dramatic drops in stock prices. Kolanovic sent out a 168-page report to his JP Morgan clients that included near 50 financial analysts and economists perspectives on the coming crisis and how they should hedge their wealth from future shock.

No amount of computational mathematical modelling or theoretical physics will allay the fears and lack of confidence in the market when the ‘penny’ drops and although Kolanovic believes that the time has come for a “rotation into value” they are sceptics who believe that the penchant for game theory is past the post and we are now in uncharted ‘bubble territory’.

Recent reports coming in suggest that Argentina’s Peso fell off another fiscal cliff after the resignation of the Governor of the Central Bank one day after it emerged that the IMF’s record $50 billion bailout of Argentina is just not big enough, and the country will need an additional $3-$5 billion in additional rescue funds. Market reaction was swift and can be seen from the graph below:

So in 2018, stagnation in developed economies like Argentina sees many in the working class communities believe that the ‘game’ is up as it has played itself out and the winners are always the elites who control the means of production and dictate who lives and who dies – how much is borrowed and who pays it back.

James Rickards in his bestselling book, “Currency Wars: The Making of the Next Global Crisis”, ominously cites the words of Moses found in Genesis 47:15, “And when the money failed in the land of Egypt, and in the land of Canaan, all the Egyptians came unto Joseph, and said, Give us bread: for why should we die in thy presence? For the money faileth.” If the wisdom of Ecclesiastes 1:9; 3:15 is certain: “What is happening now has happened before, and what will happen in the future has happened before, because God makes the same things happen over and over again…”

Jim’s book is worth a read for those with the stomach to imbibe “TRUTH” and not the rarefied air of socioeconomic & poLIEtical spin! As with any severe market crash will emerge unrest and war between nations for the scarce resources and this is where game theory will eventually meet chaos theory and vice versa in what can only be described, (at the end of the second decade of a new millennium) – as apocalyptic theory in the making (a paradigm few, if any academics at all are willing to grapple with)!

Rickards, Maloney, Berwick et al are all calling for what Kolanovic terms a ‘rotation into value’ with most if not all seeing gold reaching as high a $50K an ounce with other measured forecasts as high as $20K per ounce! Fiat currency is in its death throes, on life support. Reckless borrowing to prop up unsustainable living standard is not only oxymoronically archaic but patently decadent. Debt based thinking is a bottomless pit for which the Devil holds the key. Onerous taxation is an albatross around the necks of the poor and disenfranchised. Wealth inequity will only lead to pitchforks and bloodshed as the vultures are already circling. The time has come for truly radical thinking if that is even at all possible given the vagaries of dystopic malaise by our so-called leaders and the penchant for maintaining a defunct status quo.

In conclusion, Bajans (like all others) are yearning for better days ahead but whether that will be even possible this side of heaven is highly debatable. The International Monetary Fund will prove to have not been the answer after the dust settles and the smoke clears. The weight of evidence is overwhelmingly stark. The underlying problem can be summed up in this passage of Scripture: “Where there is no vision the people perish” and although hope abides and faith remains constant in a world of flux and fluidity – only ‘The Creator God’ knows the end from the beginning and how the next few years will evolve, as we enter the 3rd decade of this new Millennium, which will prove to be both fascinating and nail-bitingly ominous!

 

Till then, #StayTuned!

 

 

 

115 comments

  • Rain Pouring!!

    4 ” and 71 parts so far and no sign of let up.

    They are actually ahead of the game this time and opened the sleuth gate at Graeme Hall.

    https://barbadostoday.bb/2018/09/26/south-coast-beaches-closed/

    Tomorrow will be good to take a look see!!

    The Swamp should have had 10’s of millions of gallons of rainwater flowing through it to the sea!!

    Tide is pretty low at this exact moment in time.

    https://www.tide-forecast.com/locations/Bridgetown-Barbados/tides/latest

    It will be high tomorrow around dawn.

    Could get some flooding as dawn approaches.

    Liked by 1 person

  • Not far off the 6″ and 64 parts from Nov 29, 2016!!

    Liked by 1 person

  • And so what’s the point?
    And how much of the world’s ill-gotten wealth is owned by the billionaires in the repressive states of China and Russia

    Liked by 1 person

  • This is how UN scientists are preparing for the end of capitalism. As the era of cheap energy comes to an end, capitalist thinking is struggling to solve the huge problems facing humanity. So how do we respond?

    For the “first time in human history”, the paper says, capitalist economies are “shifting to energy sources that are less energy efficient.” Producing usable energy (“exergy”) to keep powering “both basic and non-basic human activities” in industrial civilisation “will require more, not less, effort”.

    At the same time, our hunger for energy is driving what the paper refers to as “sink costs.” The greater our energy and material use, the more waste we generate, and so the greater the environmental costs. Though they can be ignored for a while, eventually those environmental costs translate directly into economic costs as it becomes more and more difficult to ignore their impacts on our societies.

    And the biggest “sink cost”, of course, is climate change: “Sink costs are also rising; economies have used up the capacity of planetary ecosystems to handle the waste generated by energy and material use. Climate change is the most pronounced sink cost.”

    Overall, the amount of energy we can extract, compared to the energy we are using to extract it, is decreasing “across the spectrum – unconventional oils, nuclear and renewables return less energy in generation than conventional oils, whose production has peaked – and societies need to abandon fossil fuels because of their impact on the climate.”

    A copy of the paper, available on the website of the BIOS Research Unit in Finland, was sent to me by lead author Dr Paavo Järvensivu, a ‘biophysical economist’ – a rare, but emerging breed of economist exploring the role of energy and materials in fuelling economic activity.

    More:
    https://www.independent.co.uk/news/long_reads/capitalism-un-scientists-preparing-end-fossil-fuels-warning-demise-a8523856.html

    Economic activity in relation to energy costs and how much energy has to be set aside and used to produce new energy for the market (i.e. EROEI, or Energy Returned on Energy Invested) are economic factors the insurance industry actuary Gail Tverberg has been discussing on her blog OurFiniteWorld for several years now.

    Many people who worry about the price of energy, are unaware of the importance of the EROEI ratio. It has been dropping significantly since the mid 20th century. It is generally conceded that for mid-20th century oil the EROEI was somewhere around 100:1. This meant that by using the energy contained in one barrel of oil, the oil industry could produce 100 barrels of oil energy to sell on the market to fuel the worlds’ economies.

    Nowadays, although the exact number is debatable, the general consensus seems to accept that EROEI on oil is more like 10:1 or thereabouts. This means the oil industry today needs to use one barrel’s worth of oil energy just to produce 10 barrels of oil for the market, whereas in 1950 or 1960 it could have produced 100 barrels of oil for that one barrel. And the trend line shows that ratio continuing to drop. Obviously were it ever to reach 1:1 (or in reality even get close to that mark), there would be no oil industry or economic activity, as it would mean that every barrel of oil produced would have to be dedicated to producing another barrel of oil. There would be no oil left over to sell in the market.

    “We’ll switch to alternative energy sources before this becomes a major stumbling block to economic activity”, is what you might hear as a response to the falling EROEI of oil (and other hydrocarbons in general). Well this low EROEI of oil is already a factor in causing economic disruption as Tverberg’s analysis shows. What’s also worrying, when you add up all the energy used in developing alternative energy generators like windmills, solar panels, tidal energy generators etc, the figures tend to show those sources presently have EROEIs at best close to present day oil, but many with lower EROEIs. So the alternative energy generators produced in our present economies are in general being manufactured in economies where oil based energy is actually subsidizing (in energy terms) the production of these alternative energy generators. If there were no oil available to subsidize alternative energy production, then alternative energy would become unavailable as well.

    The World’s Fragile Economic Condition – Part 1
    Posted on September 23, 2018 by Gail Tverberg

    Where is the world economy heading? In my opinion, a large portion of the story that we usually hear about how the world economy operates and the role energy plays is not really correct. In this post (to be continued in Part 2 in the near future), I explain how some of the major elements of the world economy seem to function. I also point out some relationships that tend to make the world’s economic condition more fragile.

    Trying to explain the situation a bit further, the economy is a networked system. It doesn’t behave the way nearly everyone expects it to behave. Many people believe that any energy problem will be signaled by high prices. A look at history shows that this is not really the case: fighting and conflict are also likely outcomes. In fact, rising tariffs are a sign of energy problems.

    The underlying energy problem represents a conflict between supply and demand, but not in the way most people expect. The world needs rising demand to support the rising cost of energy products, but this rising demand is, in fact, very difficult to produce. The way that this rising demand is normally produced is by adding increasing amounts of debt, at ever-lower interest rates. At some point, the debt bubble created to provide the necessary demand becomes overstretched. Now, we seem to be reaching a situation where the debt bubble may pop, at least in some parts of the world. This is a very concerning situation.

    Context. The presentation discussed in this post was given to the Casualty Actuaries of the Southeast. (I am a casualty actuary myself, living in the Southeast.) The attendees tended to be quite young, and they tended not to be very aware of energy issues. I was trying to “bring them up to speed.” This is a link to the presentation: The World’s Fragile Economic Condition.

    More:
    ourfiniteworld(DOT)com/2018/09/23/the-worlds-fragile-economic-condition-part-1/

    Liked by 1 person

  • Thank you David 4 the post: Here’s some breakfast NEWS!!!

    Like

  • Thanks for the video TB. The narrator mentions that many countries are locked in a debt binge and the more they have borrowed the more they have had to print money to give the illusion of solvency. Sounds erringly familiar?

    Liked by 1 person

  • @TB

    The takeaway from the video is that emerging countries across the globe have been trapped in the debt spiral, it is not a Barbados phenomenon. We have been inflicted with a more aggressive form and of debt accumulation.

    Like

  • ALL OF THE ABOVE WAS PREDICTED LON LONG AGO
    READ IT IN REVELATION 18
    Next Chapter >
    Revelation
    Chapter 18
    1 And after these things I saw another angel come down from heaven, having great power; and the earth was lightened with his glory.

    2 And he cried mightily with a strong voice, saying, Babylon the great is fallen, is fallen, and is become the habitation of devils, and the hold of every foul spirit, and a cage of every unclean and hateful bird.

    3 For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.

    4 And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues.

    5 For her sins have reached unto heaven, and God hath remembered her iniquities.

    6 Reward her even as she rewarded you, and double unto her double according to her works: in the cup which she hath filled fill to her double.

    7 How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow.

    8 Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.

    9 And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning,

    10 Standing afar off for the fear of her torment, saying, Alas, alas, that great city Babylon, that mighty city! for in one hour is thy judgment come.

    11 And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:

    12 The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble,

    13 And cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men.

    14 And the fruits that thy soul lusted after are departed from thee, and all things which were dainty and goodly are departed from thee, and thou shalt find them no more at all.

    15 The merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment, weeping and wailing,

    16 And saying, Alas, alas, that great city, that was clothed in fine linen, and purple, and scarlet, and decked with gold, and precious stones, and pearls!

    17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,

    18 And cried when they saw the smoke of her burning, saying, What city is like unto this great city!

    19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas, that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

    20 Rejoice over her, thou heaven, and ye holy apostles and prophets; for God hath avenged you on her.

    21 And a mighty angel took up a stone like a great millstone, and cast it into the sea, saying, Thus with violence shall that great city Babylon be thrown down, and shall be found no more at all.

    22 And the voice of harpers, and musicians, and of pipers, and trumpeters, shall be heard no more at all in thee; and no craftsman, of whatsoever craft he be, shall be found any more in thee; and the sound of a millstone shall be heard no more at all in thee;

    23 And the light of a candle shall shine no more at all in thee; and the voice of the bridegroom and of the bride shall be heard no more at all in thee: for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived.

    24 And in her was found the blood of prophets, and of saints, and of all that were slain upon the earth.

    Like

  • The changing of the “currency guards” are inevitable, those who have built their empires on the backs of everyone else will be the most vocal.
    Governments who tend to borrow their way out of debt puts further stain on their citizen, something will eventual give, bursting at the seams of gross taxation.
    Global debt has passed the point of unsustainability, recognized by those in the know yet refusing to go the route of DEBT FORGIVENESS or GLOBAL DEBT PAYMENTS of all Governments, Commerce and individuals.

    SWISSINDO, holders of the worlds largest tangible gold and platinum assets offers through legitimate documents submitted to the UN, to eliminate world debt and economic enslavement, by giving gold and platinum assets to back the printing of legitimate currencies for debt cancellation, wealth and freedom to the peoples of the earth.

    As for energy, the technologies of FREE ENERGY are known, simple, low cost production and forever stable and reliable.. no need for fossil fuels, wind, tidal or solar energy systems and the likes. Those who conceal it will eventually have to release it.

    Do your own research and come to your own conclusions. It is as it is.

    You know when they ARE under threat when they fear change or their power base challenged. Their definitions are correct for valid currency for both Fiat and Crypto YET move to bash the threat of Crypto that carries the same definition, confirming the Crypto threat and public value.

    Click to access SWTIO-Press-Kit-MA-M1-Publication-Confirmation-Print.pdf


    http://swissindo.news/

    Like

  • To make a very long and convoluted story short…
    Our ass is grass.

    Liked by 1 person

  • @ GP
    Boss, if you REALLY understood what you quoted
    …you would catch the first ride to Barbados
    …bad as it is bout here….

    Like

  • @ Bush Tea at 7 :44 AM

    Your assertion is true only if there is an idle possessor of a whacker around.

    Have you lent it to My Love recently ? She certainly seems to be cutting a lot of people’s grass recently. Try to repossess it ; I beg you.

    Like

  • @ David BU

    Two interesting postings: TB’s and Mr. Carney’s video. I hope the BU Household takes note.

    I am sure the technocrats at the local level were quite conscious of the fall out from the policies adopted over the past 15 years. Their failures to convince the Political Directorate say more about them than the policy makers.

    Liked by 1 person

  • All this long boring talk….baahhh

    Liked by 1 person

  • @ Gabriel at 10 :17 AM

    I will agree with you that the two cited articles are long. But in the interest of understanding the drivers of economic disturbances and the prescriptions for their solutions, you should invest the time and the effort.

    I am acquainted with the issues and it takes me at least two readings to comprehend where the authors are coming from. This approach enriches and informs the discussion.

    Like

  • I really dislike when Comissiong and his ilk spread lies and misinformation on Venezuela when it has been proven without a doubt that the country is in crisis and the people are suffering…the ones who could least afford to suffer..

    Liked by 1 person

  • @BLOGMASTER David

    Today Peter Schiff said the following: “The Federal government isn’t alone drowning in debt. Most US states don’t have enough money to pay their bills either. Underfunded pension plans by far account for the vast majority of state unfunded liabilities…”

    SEE: https://schiffgold.com/key-gold-news/most-us-states-drowning-in-red-ink/

    So take some “FALSE COMFORT” from the fact that Barbados is not alone in this growing spiral of toxic soup we call – “DEBT”…

    How long may be too long – if it all goes belly up!!!

    Like

  • @TB and Vincent

    The takeaway from the submission- prolix or not- is that Barbados is part of a debt movement. Until there is a concerted attempt to disrupt the way we design how we run the economy there will be the inevitable result.

    Liked by 1 person

  • War is a “CASH-COW” 4 the AmeriKKKan military establishment complex & in times of financial crisis the GOV starts a WAR to prop up its beleaguered edifices – so this story paints a grim pic of 6TH BEAST POWER upon the earth – #AMERIKKKA
    https://popularresistance.org/us-has-killed-more-than-20-million-in-37-nations-since-wwii/

    Like

  • @David

    Does the current GOV of B’dos have a longterm strategy (beyond IMF subservience) to move the country in the direction of sustainable economic development with new, radical thinking as well as practical implementation measures of growing the economy through the power of its people as investment vehicles? Simple enough!

    Liked by 1 person

  • @ Dr. GP
    when I read your post, I immediately thought of the USA. With what transpired yesterday and continuing, I have not doubt.

    Liked by 1 person

  • @ David BU at 12:01 PM

    There is nothing inherently wrong about debt , tax and quantitative easing. It is why, when and how one uses them. They may be used for stimulating growth but they do not always create growth. Very often they do not create growth in the real economy, but inflation.

    Like

  • @ bajans
    when I read your post, I immediately thought of the USA. With what transpired yesterday and continuing, I have not doubt.
    ++++++++++++++++++++++++++++++++++++++++++++++++++
    You have always been perceptive….. interestingly so….
    Do you also ‘see’ how these events are being orchestrated OUTSIDE of human hands…?

    Like

  • The situation in the days of the writing of the Bible was the same as it is today. Man has, almost from the very beginning, oppressed man. The oppressed have always dreamed of freedom from oppression – and comforted themselves with visions of retribution on the oppressors. Destruction was and is the only foreseeable outcome of such a shortsighted system for anyone with a unclouded vision. Mankind will self-destruct. We don’t need God to destroy us nor the earth. We are quite capable of doing that ourselves. We will, however, need Him to help us to pick up the pieces to create a new earth.

    Like

  • RE bajans September 28, 2018 12:23 PM

    @ Dr. GP
    when I read your post, I immediately thought of the USA. With what transpired yesterday and continuing, I have not doubt.

    MY UNDERSTANDING OF REVELATION 18, AND THAT OF NUMEROUS EMMINENT COMMENTATORS AND THEOLOGIANS IS THAT THE EVENT THERE DESCRIBED IS A UNIVERSAL EVENT

    RE Mankind will self-destruct. We don’t need God to destroy us nor the earth. We are quite capable of doing that ourselves.

    WHEREAS MAN KIND HAS A PREDISPOSITION FOR SELF DESTRUCTION THE SCRIPTURES TEACH CLEARLY IN 2 PETER 3 THAT GOD WILL DESTROY THE WORLD THAT IS

    For this they willingly are ignorant of, that by the word of God the heavens were of old, and the earth standing out of the water and in the water:

    6 Whereby the world that then was, being overflowed with water, perished:

    7 But the heavens and the earth, which are now, by the same word are kept in store, reserved unto fire against the day of judgment and perdition of ungodly men.

    RE We will, however, need Him to help us to pick up the pieces to create a new earth.
    GOD DID NOT NEED MAN TO CREATE THE ORIGINAL EARTH
    HE WILL NOT NEED GOD’S HELP “to pick up the pieces to create a new earth.”

    THIS IS CLEARLY TAUGHT IN Isaiah 65:17
    For behold, I will create new heavens and a new earth. The former things will not be remembered, nor will they come to mind.

    Like

  • Not so Donna.

    There has ALWAYS been good AND evil.
    It was DESIGNED that way in order to accomplish the ACTUAL goals and objectives of the project called ‘Life on Earth’.

    A careful balance previously existed such that mankind had a fair choice to accept EITHER good or evil. This balance is best explained by the promise that we will not receive temptations BEYOND our capabilities. Obviously this balance would have been provided by the superior ‘good’ forces only allowing the Evil ones to go so far – and no further.

    What has changed, is that mankind has generally OVERWHELMINGLY CHOSEN to go with brassbowlery.
    This leaves the ‘good’ forces with no need to continue to provide any ‘balance’.
    The Wicked forces of darkness have therefore now become the ‘gods of this present world’.

    THEY are now free to dictate their OWN terms….
    ..Their OWN people…
    ..THEIR own.. agenda…

    Thus explains – Trump, Maduro, Froon, Stinkliar, Teets, Marapissy, and the gazillions of brass bowls out there –
    …. especially black ones that SHOULD know better…

    Selfishness and greed ALWAYS leads to destruction and death – so the end result is obvious.
    Indeed, UNLESS TIME IS NOW DELIBERATELY shortened, not one shiite will be left alive…..

    But for the sake of the adopted, ‘time’ will be called……. 🙂

    Like

  • @ GP
    A UNIVERSAL EVENT?
    +++++++++++++++++
    The IMPACT will be….

    Alas that great city – the one which made all the merchants of the Earth rich through the abundance of her delicacies, (Stock Market / US Dollar scams) and through whom all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her…..

    It is a City Boss….
    And it will be gone in an hour……

    Like

  • @TB

    Good question. There is hope that there is one?

    The blogmaster suspects however that the country is in such bad shape that the stabilization effort will occupy centre for a long time.

    Clearly growth is contingent on how successful the government and stakeholders can stabilize the country on the social and economic fronts.

    Like

  • Vincent Codrington

    @ David BU at 1 :55 PM

    In a dynamic economic system is it necessary to stabilise an economy before growing it ? I read and hear this claim but my understanding of economics does not support this notion.

    The previous understanding was that Barbados would have to grow the economy in order to reduce the debt over- hang.
    The second pillar was to reduce GoB expenditure through wastage in the duplicity of several SOEs providing the same services and others providing services that are no longer relevant.

    The third pillar was transforming the production base of the economy in order to provide goods and services with expanding export markets.

    Have these been abandoned?

    Like

  • Bushie..

    “The Wicked forces of darkness have therefore now become the ‘gods of this present world’.”…

    That is a concept of duped reality. There have been a subtle jostling for control of the planet, those responsible were given an ultimatum, a large percentage heeded, those that remain are being dealt with though they remain in secret collusion with the dark cabal.

    War is the game of the Draco and Greys using opposing countries for war games, delight and their ultimate purpose..

    The New Jerusalem is already here in waiting for the appointed time that Earth/Terra/Tiamat be “upgraded to Level1 5D, those who have eyes to see can see her in all her glory.

    Fire (light) transmutes.

    Like

  • @VC
    “I read and hear this claim but my understanding of economics does not support this notion.”
    It is not about economics. It is about the investor (human) behaviour. It was not about “if” Barbados would default, but when. From the time its credit rating reached ‘junk’ level, and continued down, it removed all potential investors, with any minimum level of internal oversight. Now the bell has rung. The same investors will watch to see the path plotted and the path achieved.

    Like

  • @ Waru

    Glad you posted the Venezuelan video shows how untrustworthy Commissong is and uses propaganda for his own benefit.

    I have a Venezuelan colleague who I worked with who has a Masters Degree. He told me yesterday that when he left Venezuela less than 7 years ago he was earning US$24 monthly which was more than 80 percent of the population.

    He was also kidnapped once because he openly verbally disagreed with Hugo Chavez at the way poor people were being treated, his kidnappers were Vigilantes supported by the Government.

    Last year another Venezuelan I met with a Bachelor Degree told me he was earning US$20 monthly in an office Job before he left the country.

    David Commissong is a liar and bullshitter when it comes to the realities in Venezuela.

    Liked by 1 person

  • I have a problem with how Comissiong cherry picks what he deems non crimes when his friends and fellow bullshit artist socialists for lawyers and other leaders are involved.

    Liked by 1 person

  • It should be no secret to anyone that if you live beyound your means (borrow) for long enough you will eventually go bust. But lets not take any responsibility lets blame someone else. Some dark force that rigged the game. Typical failures mentality. How about we play the game right instead…toi much hard work and sacrifice. We deserve what comes because we brought it on ourselves and our grandchildren.

    Like

  • @BA

    You are TALKING BULLSHIT.

    THE PEOPLE OF BARBADOS DIDN’T CAUSE THE PROBLEM IT IS THE CROOKED ELECTED POLITICIANS IN BOTH PARTIES.

    THE BAJAN PEOPLE ARE THE VICTIMS OF BOTH POLITICAL PARTIES CARNAGE OF GREED AND DECEPTION.

    Liked by 1 person

  • @Vincent

    Northern Observer partly answered. There are some ducks you economists are not able to orchestrate or manipulate.

    Liked by 1 person

  • I thought everything that was said was way above my head.
    And then some guy started to quote scripture
    It cannot get any worse
    Must be bad a dream….

    Liked by 1 person

  • We are not here because of corruption. It hasnt helped but it isnt the cause. The dems didnt steel 1b but they did add it to our national debt and we got jobs that ee dont have to go to and houses that you dont have to pay the rent etc. We are here because we borrowed for a lifestyle of non producitivity. And here we will stay unless we change that and gi into the big bad world and find our niche to make ourselves a earned high standard of living not a borrowed one.

    Liked by 1 person

  • @ GP
    @ Bush Tea

    I don’t care if God or man destroys the world. I am trying hand over fist to spend my money before it happens.

    Like

  • @ BA

    I still disagree with your nonsensical analysis.

    They were supposed to manage and make proper decisions.

    The Public do not make budgets or sit in Cabinet.

    The Politicians once elected are the SOLE decisions maker in Cabinet so all good or bad decisions rest with them whether spending or otherwise and not the public who have ZERO input.

    Liked by 1 person

  • in the old days we took the unemployable and had them weed the side of the road. better than the doll as they had to do something for the $40 a day, and got a sense of pride because they had a job. a machine could have replaced all of them but society was better for it. then we figured we can’t have their children do that after having “educated” them. so we created lots of office jobs. entire ministries just to pay a higher doll. as their children got more free education we created even more non-productive jobs with higher pay to keep the game going and “raise our standard of living”,,,and this is what you get. the ministry of housing exists to hand out houses for votes. it was invented for that. it also is good to add money to ministers take home in bribes, but the real cost to taxpayers is the cost of the people that give houses away and assist with bribe getting. there are many more similar boards, ministries, departments that serve the same purpose. how hard or costly is it to give something away. it would be cheaper to just pay the then minister “off the books” and have a real tender for free houses, a lot cheaper because it would only take one guy a few hours, but then we wouldn’t have all those people sitting in an office building pretending that they are needed would we. and it wouldn’t be that bad if we paid cash, but since we are poor and have lots of unproductive people we had to borrow the money, lots of it, and now the game is up…well not quite yet, give it a couple more years of pretending that our dollar is worth something, and that we can get the deficit down to 60%. the pretending will be tough but not as tough as the realisation that we can’t meet those targets, then the real fun will begin, unless of course by some miracle we actually set off on a course of productivity and fx earnings, but that is unlikely as it is a tough world out there and we just don’t have the stomach for it, we will just continue to pretend and blame the boogie man.

    Liked by 2 people

  • I and others see God and the Bible quite differently. Only time will tell who is right or wrong. We could even all three be wrong.

    Like

  • @BA
    the ministry of housing exists to hand out houses for votes. it was invented for that. it also is good to add money to ministers take home in bribes, but the real cost to taxpayers is the cost of the people that give houses away and assist with bribe getting. there are many more similar boards, ministries, departments that serve the same purpose.
    Xxxxxxxxxxxxxxxxxxxxxxx

    Now you are spot on.

    Liked by 1 person

  • DB i suggest that the difference between us is that you believe that this was done TO us and I believe that this was done BY us, unless i missed the march for “no new jobs” or “lest not borrow but earn”. remember when job #1 was jobs? where did those jobs come from? lots of Guyanese built houses for rich tourists but mostly Bajans when to work for the newly created urban and rural development commissions, pan african commission etc. we didnt protest then so why are we protesting now? we got what we wanted…now we have to pay for it.

    Liked by 1 person

  • @BA

    The school “EDUCATION” system in Barbados is ‘guided’ by the Politicians upto UWI level including content and funding.

    People in Barbados for the most part are not taught to be self sufficient and think CRITICALLY for themselves INDEPENDENTLY.

    The same Politicians know this hence why a lot of what you said was created; a system to keep them dependent and not to uplift themselves by their Bootstraps.

    The ELECTED POLITICIANS ARE SUPPOSED TO BE MANAGERS THEY HACE CONSISTENTLY CREATED WHAT IS IN PLACE BECAUSE THEY WILL ALWAYS BE THE MAJOR BENEFICIARIES IRREGARDLESS OF WHICH PARTY BLP or DLP. IS IN THE HOUSE OF ASSEMBLY.

    Liked by 1 person

  • @ Terence Blackett.

    de ole man understood you in my first read which, given that Mr Vincent Codrington had to read you two times make me go back and read you two more times cause de ole man is not as bright as Mr. Codrington.

    I tend to be a simple ole man without much understanding of these things but what i do understand is that the model that we have used for all these years HAS TO CHANGE else we too will succumb to these lenders.

    Did you see the twitter video of the Tsunami in Donggala Indonesia? Did you see the damage of that tsunami?

    “…Up to 80 percent of Thailand’s tsunami warning system needs maintenance work, the deputy director-general of its disaster prevention department said on Monday, more than a decade after the region was hit by a tsunami that killed 226,000 people..”

    226K prople that is almost the population of Barbados.

    Just for a moment IMAGINE Mr Blackett if Barbados’ Thought Leaders had a solution that would mitigate tsunamis or address the damage wildfires cause to life and lime yearly.

    Would such a model which permitted Barbados to not only attend these Environmental Meetings but be at the table proposing and selling solutions for these disasters, would such impact on what my extremely learned colleague Mr Codrington presented wearlier under his three pillars submission?

    Mr Codrington said AND I QUOTE “…the previous understanding was that Barbados would have to grow the economy in order to reduce the debt over- hang.

    The second pillar was to reduce GoB expenditure through wastage in the duplicity of several SOEs providing the same services and others providing services that are no longer relevant [[like EGFL and Fund Access, my bracketted examples not his]]

    And then he presented “The third pillar” which was “…transforming the production base of the economy in order to provide goods and services with expanding export markets?…’

    De ole man is very slothful of mind Mr Blackett so do help me here.

    Do you think tha such solutions or services arising from said imaginations referenced above might qualify in expanding export markets?

    It would seem therefore Mr. Blackett that you seem to have left out a huge part of the equation of our spiraling debt if, in the presence of these options, these men and women seem so lost?

    Help de ole man to understand this?

    Liked by 1 person

  • Uganda had Idi Amin, Guyana had Forbes Burnham, Jamaica had Michael Manley and Barbados had Chris Sinckler. Four destroyed former British colonies.

    Like

  • @ BA
    Boss, you score 98.5 % on Bushie’s score sheet.
    …just ONE small error … where you said …. “give it a couple more years of pretending that our dollar is worth something”

    Change those ‘years’ to ‘months’ and get the other 1.5% …

    @ Donna
    I and others see God and the Bible quite differently. Only time will tell who is right or wrong. We could even all three be wrong.
    ++++++++++++++++++++++++++++++++++++++++++++
    Seriously…
    “Seeing God” SHOULD be the most natural, easy and pervasive thing for all human beings…. except for a SPECIAL kind of endemic blindness that afflicts us all… So unfortunately you are possibly quite right.

    However…
    Everything (and anything) around us has been SPECIALLY designed to reflect God.

    For example.
    God created Man ‘in his own image’….
    Therefore, in order to ‘see God’ you need only look closely (with working eyes) at man….The difference is one of permanence, as man has been made a PHYSICAL being, …SUBJECT to the constraints of time and entropy. While God is spiritual and well BEYOND such constraints.
    Concepts such as marriage, baptism, The Church etc ALSO carry great EDUCATIONAL significance in understanding God and the bible….

    It is all really SO SIMPLE and straightforward that Jesus HIMSELF had to speak in parables – for fear that all kinda idiots would understand the simplicity of the unbelievable plans (gospel / good news) that he came to unveil….

    Imagine a Mariposa getting to understand the purpose of life…???
    Shiite … we can’t have that now …can we?
    LOL

    Liked by 1 person

  • @ BA September 28, 2018 7:20 PM

    Everything going as predicted.

    There is not a single case in the world history of economics that a country with such a high debt load and independent currency was not forced to devalue.

    Just look at the Guyana and the Jamaica Dollar. If the fourth IMF programme is botched like the third IMF programme in 2013, people will start to cut off fingers with golden rings on and will break into the ministers and judges houses. We have seen that in Guyana and Jamaica and we will see it in Barbados …

    Unless PM MAM turnes into some kind of Stalin and orders the GRAND PURGE of the civil service with its many lazy laggards. 30 – 40 % of the laggards must go. They are free to emigrate.

    Then and only then Barbados will recover.

    Like

  • DB my point is that the politicians gave us what we wanted. who was going to vote for sending home civil servants, certainly not the 20,000 civil servants. no more free housing, good luck running on that platform. we created the politicians that we got and they implemented the policies that we wanted. pity we didnt give what we wanted or where the money was coming from to pay for it more thought.

    i would also like to put on record that there are civil servants that work hard, with very limited resources in circumstances that no private sector worker would accept for less pay than the equivalent in the private sector. the garbage collection service springs to mind. so lets do the numbers, big sink claimed that the SSA (as distinct from the garbage collection service) cost 30mil per year before the invention of SBRC. we know that for the last few years that money managed to keep about 15 trucks running. since they didn’t have any money to buy new trucks we can also know that the 30mil did not include depreciation, so it is just running costs (labour, repairs and overhead). that is 2mil per truck per year. to operate a 15 year old truck with a three man crew. or 5.5k per day assuming that truck ran every day. really! i bet the truck and the crew is actually a small part of the 30mil and that “administrative” expenses make up the majority costs. if “privatizing” means giving a crew their truck to run it will be a disaster for them, only to be followed some years or months later by some government bail out or big player intervention, after the “small man solution” fails. the problem is not the truck nor the crew as with most departments, it is the “administrative” costs of having many thousands of people “administer” the work of the few. private businesses fail the same way. i hope the workers in the civil service do not pay for the loafers in the offices, but suspect they will. the workers will go home and the “administrators” will stay to administer whatever system is next invented (private/public, private, BOLT) and we will be here again one day. cut the top, empty the offices BEFORE a single bus driver, mechanic, nurse, policeman etc goes home.

    Liked by 1 person

  • Truth will set you Free

    @ Dishonest Bajans

    I like you bad bad.

    You call a Spade a Spade.

    The Lawyers (Liars) have run amock in Barbados with lack of Management skills but fully trained in graft and bribe taking.

    Barbados Cabinet is a pappy show like Days of our Lives is a soap opera for public consumption.

    Liked by 1 person

  • Good Morning David & Blessed SHABBAT* – Here’s some Breakfast NEWS from Chris Greene!!!

    Like

  • DO NOT LET YOUR GOV* FOOL YOU AGAIN & AGAIN!!! They are PATHOLOGICAL LIARS!!!

    Liked by 1 person

  • If the ROTHSCHILDS cite Central Banks are failing – how far off is a “MARKET CRASH”???

    Liked by 1 person

  • As lowlife as these Rothchilds are…gold is the only real standard bearer..

    Like

  • Ah guess all the main/usual world class criminals of the Rothchild’s ilk will be headed back to Africa to steal from the continent’s people again, because of the never ending supply of gold and other precious metals… if allowed by weak, greedy, corrupt African leaders AGAIN…

    …they all know paper money is crap and has become even more worthless in this era because of their own actions and voluminous albino-centric greed..

    …..but small island governments tend to put useless paper before the lives of their own people…ah guess dummies will never learn.

    Like

  • @ WARU

    Did you pay any attention to the advert at the end of the video? Cut but do not always paste. Put some items in the garbage bin as well.

    Gold is a good store of value because we human beings decide it is. But all that can change in a twinkling of an eye. None of the Reserve Currencies Euro, Pound Sterling or US dollars are backed by their equivalence in gold. The Gold Standard is dead.

    Blockchain may be the threat. It does not need a regulator and that is the real problem.

    Like me you may be holding some worthless G o B papers.

    Like

  • Vincent…I have no clue what you are accusing me of,…..but..

    Nothing is dead when the greedy of the earth decides to revive it for their own avaricious benefit…

    Me?. .hold G o B paper…not in this life nor the next 5 lives…never going to happen…

    Me?…and Blockchain…never going to happen..

    Like

  • WARU

    I am not accusing you. I tek my eyes off MIA and I watching you. Just checking that you are not swallowing all that is put out there in Cyberspace.

    Like

  • Don’t worry…better than them could not feed me bullshit nor get me to swallow it…and neither can anyone. else..

    As long as you know that given historical behaviours, if the greedy of the earth says tomorrow that cocaine is gold standard, as long as it suits their agendas and fill their greedy pockets…it’s so….to prove my point…check out the medical marijuana craze…same marijuana that people were ….and still are…being imprisoned for….check out the billions being made now and it has not even peeked yet…, it is even trading on the Canadian stock exchange, just a matter of time when the feds figure out how many trillions can be made and at whose expense…….

    I know you can finish the rest..

    Liked by 1 person

  • “is that emerging countries across the globe have been trapped in the debt spiral, it is not a Barbados phenomenon. We have been inflicted with a more aggressive form and of debt accumulation.”
    Don’t soften your previous path.
    Debt is a huge problem. Barbados debt is not more aggressive, it is Barbados doesn’t generate the cash to service such debt, with its current expense load. And the once proudly spouted “home grown debt” creates a huge challenge, you aren’t effing somebuddy else, you are effing yourself.

    Like

  • NO
    ARE YOU SAYING THAT THIS DEBT THING IS A KNOWN UNIVERSAL PROBLEM? THAT NEARLY ALL COUNTRIES ARE IN DEBT AND THAT WE ARE FACING A UNIVERSAL MONETARY COLLAPSE.

    JUST ASKING

    Liked by 1 person

  • Vincent Codrington

    @ Northern Observer at 6 : 43 PM

    Exactly what point are you making in the second paragraph? How is that statement different from the quoted statement?

    Like

  • yup the boogieman did it to us. to be a victim first adopt a victims mentality then anything bad that happens is someone else’s fault. that will surely lead to success. sounds a lot like big chris’ eight years as minister of guaranteed catastrophe. in almost every case a borrow complains when they can’t get a loan. they say they are the wrong colour, from the wrong side of the tracks, etc, then when the banks do lend and they default they blame the banks again since the bank should have know they were not going to be a capable of repayment. what a wonderful world the brain of victim must be. no responsibility. it must be very relaxing. recently local bond holders have seemed surprised the govt is defaulting. downgrades for eight years. bonds deep into junk. paying 8%, when fixed deposits are at 0. no institutions buying except those forced to. must be nice this no personal responsibility thing, where do you buy it?

    Like

  • Vincent Codrington

    BA at 7 :12 PM

    Is it irrational for citizens of Barbados to lend their accumulated savings , gratuities and separation packages to the GoB? Based on GoB track record is it unreasonable to expect repayments of those loans? Would you prefer the citizens to buy imported luxury consumption goods with all their income?

    The citizens now senior were making provisions for their old age. The interests payments were intended to augment their income /pensions and to educate their children.

    Interest rates on GoB papers rarely exceed 7.5 % and they were down to 6% in the last 5 years,. It is a serious breach of contract for GoB to squander its reputation as a country which honours its debt obligations. It is going to be difficult to gain the confidence of lenders in the future. A very short sighted decision.it was to default.

    Like

  • @ Vincent Codrington

    It is a serious breach of contract for GoB to squander its reputation as a country which honours its debt obligations. It is going to be difficult to gain the confidence of lenders in the future. A very short sighted decision.it was to default.
    xxxxxxxxxxxxxxxxxxxxxxx

    Correct this was done by the Messiah Mia of Watch Mu Now.

    Bunch of Jokers both BLP and DLP

    Like

  • @ Vincent
    Is it irrational for citizens of Barbados to lend their accumulated savings , gratuities and separation packages to the GoB?
    ++++++++++++++++++++++++++++++
    R U serious??
    Irrational is not the word.
    Who the hell would take up their hard earned money …and give it to Stinkliar to spend?
    ESPECIALLY after seeing what happened to so many brass bowls who handed theirs to the leper man from CLICO…?

    It would have made more sense to give the damn money to the Salvation Army.

    What reputation was there left by Barbados to be squandered?
    Shiite man…. Our PM was caught in the process of making billion dollar deals with a fake Canadian white woman who was so broke that she lost her home shortly after the scam fell through….

    LOL
    …and if wunna think that it is only the interest that will be lost … wunna even more gullible than was originally apparent.

    Like

  • The govt owes you reparations

    Liked by 1 person

  • It is also irrational for tax payers to keep paying incompetent public servants in jobs for life – they cannot even collect the GoB’s tax revenue.

    Liked by 1 person

  • Exactly. 30 – 40 % of the lazy laggards must go. Better social turmoil now than later. PM MAM must act like Stalin and use the armed forces to suppress any resistance amongst the fired civil servants and send them abroad, eg to Panama, Jamaica or Guyana. There is also plenty of room in Barbados for farming, fishing and other things for the former civil servants …

    Like

  • Despite Jamàica’s economic problems…it never misses an opportunity to be progressive , to produce and export…where are the permits and licenses in Barbados to allow the people of Barbados to do the same….and I don’t mean permits and licenses for the usual gang of minority parasites who love to jump in front and hog everything with the help of bribetaking government ministers…always preventing the majority population from utilizing their skills and opportunities. ..I mean the majority population who have suffered prison time, arrests and ruined lives because of the criminalizing and demonizing of the plant lead by greedy governments.

    So what is Mia and her minister of health doing about this besides nothing.

    http://www.nationnews.com/nationnews/news/199271/jamaica-makes-legal-export-marijuana-extracted-oil-canada

    “KINGSTON – Agriculture Minister Audley Shaw on Thursday announced that Jamaican has made its legal export of medical marijuana extracted oil to Canada, marking the first step in positioning Jamaica as the world’s medical marijuana hub.

    According to Shaw, the shipment was authorised through an import permit issued by the Government of Canada through Health Canada for Jamaica and an export permit issued by the Ministry of Health in Jamaica.

    “Jamaica is uniquely positioned to be a global player and we are committed to providing the leadership and resources required for opening the international markets including Canada and Europe for our licensed and regulated Jamaican companies”, Shaw said in a statement.

    According to the CEO of the Cannabis Licensing Authority (CLA), Lincoln Allen, who endorsed Shaw’s statement, he has also identified international export opportunities as a major target for the CLA.”

    Like

  • Pingback: NIS Government Paper for Trash | Barbados Underground

  • May I emphatically insert that given current trends, there will never be enough marijuana production to meet current demands in the medical processing of the plant, but that does not mean you let the opportunity pass the island by…when it has clearly turned into a win, win….for the island and the disenfranchised population as a whole..

    ,,…. more the reason to mobilize the population since there now exists a niche market for the majority population to actively participate…given that Jamaica has led the way in taking down the barriers that existed for Caribbean islands and their people when they were excluded before from marijuana production and processing…

    Instead of government sitting on its ass trying to find ways to turn the majority population into economic victims/slaves and permanent consumers generation after generation., always totally helpless to help themselves….get off those fat taxpayer funded asses and put systems in place to destroy economic hardships and poverty within the Black communities..

    ….it will be much harder and take longer for Jamaica to accomplish this given its size and 2 million strong population, but for Barbados with barely a 275K population ..it will be a breeze…as long as no corruption is introduced.

    Like

  • http://www.nationnews.com/nationnews/news/199271/jamaica-makes-legal-export-marijuana-extracted-oil-canada

    But in saying all of that, I must ask, is the Mia government even intellectually capable of recognizing and mentally processing these types of opportunities for the majority population…AND actually driving it to its obvious conclusion..to benefit all the people.

    ….we know the ministers from the Owen Arthur era specifically are used to their conventional governing methods of creating helplessness among their own people….they are well known for creating victims among their people….most of these ministers now make up the Mia government.

    …..but for once…can these ministers even start thinking critically and open the doors of opportunity that are currently staring them in their faces by issuing licenses and permits for medical marijuana production and processing to their OWN people in the majority black communities……..for local use AND EXPORT purposes to create a healthier population…to generate cash flow, forex and wealth accumulation for their OWN people instead of for a tiny minority of criminals, leaches and parasites in the private sector…. is it at all possible.

    Enuff yardfowl should be able to answer that question.

    Like

  • The Fruendel government was made up primarily of empty vessels who wasted 10 years of opportunity with regards to medical marijuana to drive the economy via the people, they all lacked vision and intelligence…empty vessels..

    That is what happens when you have two governments in the last 52 years made up of mostly lawyers and half assed business people like Donville who are little more than street hustlers….empty vessels dressed up in suits.

    Those in the Mia government and not much different either, after 4 months their street hustler traits have already manifested, hustling the people…hustling the taxpayers, hustling the pension fund…..because that is all both governments know…street hustling.

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  • Waru there’s a thing called distance and let’s be fair you can’t even grow a tomato that looks like one let alone tastes like one. Your best bet is dental and cosmetic surgery while on holiday if priced right it can work. Also it’s Sunday aren’t you supposed to be playing ball with your husband in the park

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  • Lawson….what…yabeen drinking too much cannabis beer too early..lol

    Ya will always be high on BU going forward, but it’s ok, we know that…

    ..especially with that potent Cannibas Oil on its way to Canada from Jamaica..

    …. yes Mon….

    Liked by 1 person

  • Those in the Mia government ARE NOT much different either, after 4 months their street hustler traits have already manifested, hustling the people/treasury for a halfassed opinion and charging $15,000..

    Like

  • When the Sterling Pound is pegged 1:1 with Crypto and the Banking Sector in this LBX initiative..major breakthroughs will follow..

    https://www.livebitcoinnews.com/first-pound-backed-stable-coin-announced-by-uk-start-up/

    Like

  • Yall still with the crypto scam that will go nowhere in Barbados….the people areNOT INTERESTED…ask them yaself.

    Liked by 1 person

  • VG

    in my experience money is hard to make and easy to loose. i therefore treat it with care and respect. the population had many more options to INVEST other than GOB bonds, and SUV’s. buying anything without thoughtful analysis and a risk reward assessment is probably going to end badly. it had been obvious to institutional investors for many years that GOB could not repay its debts, but still accumulated more. big chris spoke in Parliament for many years, many times about local banks shifting their govt paper from long term to very short term. he even had to raise the limit on short term limits to accommodate the shift. the only reason banks bought at all is because they are forced to. as one senior banker told me circa 2015 “we know the govt will default. we will go back buying when they set a realistic interest rate and realistic terms, we are always looking to invest, but the numbers have to add up”. we can’t want to make our own decisions and when we make bad ones complain that it wasn’t our fault. with freedom comes personal responsibility.

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  • @ BA at 10 : 27 AM

    Where , pray tell ,were/are these other investment options that citizens with the investment appetite of pensioners?
    Did you make any investments in them or did you yam out all your income?

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  • VC – “investment appetite of pensioners” is the difference between us. mutual funds, shares, rental property all offered lower stated returns than BOG bonds, but were all “less risky”. GOB bonds have been high risk hence their junk rating for some time. people took a big risk buying them for their stated return. they are less risky now though since they are selling for 50% of face value. risk is always measured by your chances of getting your expected return. there was 0 chances GOB bonds would pay their stated return and hence they were the MOST risky investment a pensioner could have made. it would have been better to stay in cash, get 0% (lose to inflation) and buy them now at 50% off. now their price represents their risk.

    “did you yam out all your income” the purchase of almost anything other than GOB bonds was better, even yams.

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  • Former Ontario premier Ernie Eves working with medical marijuana company in Jamaica.

    https://barrie.ctvnews.ca/former-ontario-premier-ernie-eves-working-with-medical-marijuana-company-1.2202738

    #jamaicans got sense.

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  • @BA

    Senior citizens did not start to invest in government securities in the last 5 years.

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  • agreed, but when times change you have to change too. they could have sold what they had when the numbers went the wrong way. here are some other alternative investments that could have been and could still be looked at 1) a child/grandchild home 2) a child/grandchild education 3) a family member/neighbor’s business

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  • @ Vincent
    Where , pray tell ,were/are these other investment options that citizens with the investment appetite of pensioners?
    ++++++++++++++++++++++++++++++++++++
    The natural and obvious investment options for senior citizens lay in their OWN FAMILIES and especially in their offspring; in their communities; and in creative ventures built around their EXPERIENCE and their talents.

    If Bajans had truly benefited from the investments made in education, they would have invested in creative businesses such as agriculture, transport, retail, and the HUNDREDS of other opportunities out there for various talents.

    Instead, we saw the brass bowls handing their money over to scammers who promised quick and EASY returns…
    – CLICO
    — Trade Confirmers
    – the foreign banks
    …and the shiite government.

    Even with this experience, they continue to search out other scammers who promise gold at the end of the rainbow…..
    …like BITTCOIn etc

    A people ALWAYS get exactly what they deserve.

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  • BA got this thing covered…
    Bushie out…!!!

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  • a business person was asked “how did you go bankrupt”? the reply “slowly at first, then all-of-a-sudden”. i dont want to come across as knowing it all, nor people caught in bad investments as stupid. neither are true. i do hope that we learn to trust less, take responsibility and think for ourselves. forget party, vote with your brains. compare current events to what was expected and adjust as required. look ahead as much as you can. the past is the past, we can only learn from it and try not to repeat past mistakes.

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  • There are Bajans who managed their lives and invested in Government ” paper ” because they thought it was safe to do so.

    They did not foresee the “failure ” of Government to protect their investments.

    Imagine the impact on a 70 year old who thought he/she was investing wisely in preparation for their retirement.

    Bajan pensioners need empathy not criticism for investing in government.

    Liked by 1 person

  • @BA
    “GOB bonds would pay their stated return and hence they were the MOST risky investment a pensioner could have made. it would have been better to stay in cash, get 0% (lose to inflation) and buy them now at 50% off. now their price represents their risk.”

    A statement and two questions.
    Did you dispense this advice earlier or only now as this advice is based on hindsight?
    Is the second sentence a recommendation or is just an analysis of the current situation?

    When fools like me look for advice we are often confused by what is said at the moment.. Later, some will point to what was stated in the past as a prophecy coming true

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  • hants, we all deserve empathy. today it is the bondholders. yesterday it was the taxpayers. tomorrow is will be people who “sold” services to the government and won’t be paid. taxpayers also had a reasonable expectation to receive services, retirement benefits etc for their taxes, that won’t happen either. suppliers to government always said, they pay late but they pay…wrong. i think MIA has referred to this as sharing the pain. the pain will not be equally shared because there will always be those who cannot afford any more. this will lead to unrest and a return to giveaways, either by this government or the next. if we want giveaways we have to grow the economy through net fx earnings, not gross fx earnings nor borrowed fx.

    TOG i have believed and written since 2008 that we were going to repeat 1991, because we handt learned anything. i have also written here that the end was delayed because big chris did the unthinkable and printed money, emptied the nis and stopper paying bills. that didnt solve the problem only delayed the outcome and made the effects worse. but many many others not motivated by party have long advised the govt to get their house in order. see the ratings agencies, IMF and economists advice going back almost a decade.

    we were/are on a train track were after 2013 the outcome was certain. the only decisions that remain ours is how we grow, but there remains little sign of any effort to really grow.

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  • Central Banks control Fiat and who control Fiat call Governance shots (financially), initially, as Crypto now poses a more than serious threat to their “empire and control”, Governments will inevitably force regulation for Crypto, (a good thing for the timeline) but when the ultimate collapse of Fiat comes then Crypto will take its place, by then Blockchain would have covered all development bases and sectors of the economy.

    Familiar paths of inflation and pending collapse.

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  • Vincent Codrington

    BA

    I think you should provide a more reasoned and informed answer than what you have proferred.
    Every one of those investment vehicles’ risk of loss are higher and were higher than GoB paper. I stressed senior citizens risk appetite. Do you understand the implication of risk appetite?

    Like

  • @Vincent

    What does it mean for pension and mutual funds? What we are about to witness is the destruction of wealth of a significant magnitude.

    Like

  • Democratic societies follow the path of the leading Democratic nation or they follow the script of the doctrine of Democracy..there are many failures yet they follow on in folly to their demise.

    Individuals must empower themselves.

    Like

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