No Haircut for Old People Says PM Mottley

Extracted from Facebook page SURVIVING OUR HARSH ECONOMIC ENVIRONMENT

The news that the government has taken the decision to rollback on a decision to implement a debt restructure program intended to be broad brush is good news. To have inflected the level of emotional stress on senior citizens whose focus should be enjoying the fruits of their labour in the golden years can only be described as unconscionable.

There is also a conversation in the country that is getting louder about the possibility of citizens bringing a legal motion against government on the basis breach of contract. Such an action is unlikely given the passive deposition of the Bajan and the unwillingness of lawyers in Barbados to take on government with high profile action.

The blogmaster can paint other scenarios where Barbadians were duped to invest in government paper for love of country. There is a large cadre of middleclass that invested in government paper because the law forces the retiree (beneficiary of severance) to favourably consider this option to avoid a cash penalty.

How do citizens whose lives have been significantly altered reconcile the feeling of hopelessness with the fact the country is broke?

 

 

 

 

128 comments

  • Now we know why there was such a mad rush to take over the entire oil business in Barbados before elections. RUBiS spoiled the plan. As you can imagine, to close a sale of $1.2 billion does not happen overnight so it goes to reason that while negotiations were in progress with the Government of Barbados and promoted by the MoF, plans would have been well underway by the local company to resell the whole gift from the DLP to its favored son. Think of how much more that package would have been worth if RUBIS had been bullied into submission? It would appear as if a big payday was spoiled for someone. Any suggestions who?

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  • Pieceuhde, should MAM and the BLP led government really be blamed for what is happening with this haircut or should the blame be rightfully laid at the feet of the salesman of the snake oil who promised the world, knowing full well that he or whomsoever replaced him would only be able to deliver straw?

    Were those pieces of government paper a product purchased from a Bridgetown store, the seller would be arrested, charged and convicted for false advertising and taking money under false pretenses.

    Like

  • The lesson learned here is that if you act in a principled manner you will do the right thing and get a good outcome.
    The FTC could have folded like a cheap chair and allow the sale to proceed.
    Good job

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  • 🙂 You all lucky I am not back there running things…
    I would call Rubis tomorrow “Add $5.00 to the Sol price and you got it”.
    I going to the bank now and check my account No. 01234765″ 🙂 🙂

    Like

  • @ Fearplay

    De ole man is and equal opportunity Blame Layer so you will notice that I have said to Mariposa and other DLP adipose students that they are responsible for where we are IN NO SMALL PART

    However, de ole man talking bout de constitution changes and the Laws unilaterally nullifying Treasury Bill Values and yields.

    Those are the sole responsibility of the BLP

    And it is for that Mia Mao Mugabe is now the proud recipient of these Stoopid Cartoons

    De ole man doan co-mingle rewards Fearplay and all this stoopidness bout nullifying 82 year old pensioner investments and telling them to brek for themselves until they are 97 is pernicious and bordering on the same demonic behaviour of the Demonic Labour party and I ent giving a feller no honeymoon to lik up de cuntry and den we wondering how we get heah.

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  • Going to take a break
    The haircut cartoons tell the whole story…

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  • OK Piece, point made. I too was not enamored with the bombastic unilateral conditions of settlement. What also concern me is that billions of dollars were borrowed in my name without my consent and now unaccounted for, further billions are being borrowed to clear the old debt (again without my consent) and for which I and my children will be responsible for repayment. I can’t unilaterally declare that I don’t have the money to pay my property tax and further, that I will only pay a reduced penalty at a time suitable to me. Something is rotten in the state of Denmark.

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  • @ Fearplay.

    I am not an economist NOR AM I AN ACCOUNTANT but de ole man is going to predict this…

    What reduces your taxable liability?

    From what I am told your investments in a business.

    Let de ole man explain…

    Say I have a house which i have to pay all the normal expenses for utilities, mortgage, land tax etc.

    Say that i go and set up a small company and start to run a business from my house I CAN OFSET SEVERAL OF THESE TAXABLE LIABILITIES based on the performance or NON PERFORMANCE OF MY BUSINESS if i have an inventive accountant!!

    So my mortgage or part thereof becomes rent, my utilities can be appended to my business’s operational costs and depending on if i make profits or generate losses what it means is that every year my net contribution to the coffers of the tax man can be legitimately decreased

    In the same way that Kyffin Simpson and COW and all the rest of these fellows are doing it

    This BERT AND ERNIE stupidness is going to fail not ONLY because it is stupidness and illy thought out and ACCORDING TO THE IMF UNTESTED but because you cannot get blood from a stone.

    The Mia Mao Mugabe plan is not going to work because it seeks to tax people

    Liked by 1 person

  • @ the Honourable Blogmaster your assistance please with an item for Fearplay

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  • @ FearPlay …8.58 pm
    You have explained the concept of having our donkeys in the grass.
    However you ain’t even experienced the first plimplers yet…

    Property tax is only a problem ….when you own property…
    When you are renting from the Canadians, Chinese and Trickidadians… such taxes will not be an issue…

    Eating, on the other hand, may be….

    Like

  • pieceuhderockyeahright

    @ Fearplay

    Do you get the impression that we have some Stoopid People at the helm advising Mugabe Mottley?

    Listen to these names R.E.R.E as in Rhi Rhi, Ambassador Plenipotentary

    Then we have B.E.R.T as in Sesame Street Bert.

    Now we have The Gathering 2020 as in the horror movie “…The Gathering See full cast » Edit Storyline. While going to the town of Ashby Wake, the drifter Cassie is hit by a car driven by Marion Kirkman and loses her memory. Marion invites Cassie to stay in her huge old house with her family, while recovering from the trauma…”

    This sounds like something out of bloopers and bloopers and “Days of our Effed Up Lives” eith Dr Horton or ” The Bold and the Senseless” with Ridge and ? or “The Good, The Bad and the Retarded” with Clint Eastwood

    We just cant be making up names like these.

    Cambridge Analytica got to be supplying these shy#€ names SERIOUSLY!!!

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  • “De ole man doan co-mingle rewards Fearplay and all this stoopidness bout nullifying 82 year old pensioner investments and telling them to brek for themselves until they are 97 is pernicious and bordering on the same demonic behaviour of the Demonic Labour party and I ent giving a feller no honeymoon to lik up de cuntry and den we wondering how we get heah.”

    Everyone we speak to in the real world about this are STUNNED that a government would send out such a hateful letter to people from their 40s to their 90s…who are ALL susceptible to STROKES, HEART ATTACKS….and ANXIETY ATTACKS..

    …..it was a brutal uncaring letter that some believe was designed and meant to kill these vulnerable people…in order to keep their money.

    ….that letter has the fingerprints of the land fraud thieves and criminals for lawmakers in Mia’s government who hate the elderly but love to steal from them…..all over it.

    Liked by 1 person

  • @PUDRYR
    Now we have The Gathering 2020 as in the horror movie
    +++++++++++
    “Yes, we will gather at the river, the beautiful the beautiful river”

    Could you let me know which month is reserved for Christ Church? I wouldn’t like to land e.g. in the month designated for St. Peter and lie to the Immigration Officer that I am from Pico Tenerife.
    April is St. Joseph month because of Grantley which reminds me that in 2019 Easter Sunday is April 21st and I recall that in most years Easter is always in April, a few years ago when I was in Barbados the following holidays fell in close proximity.

    Good Friday
    Easter Monday
    National Heroes day
    May Day
    Whit Monday

    Five holidays within a 5-6 week period and I thought why did I leave Bim? National Heroes Day is 4 days prior to May Day. Here is my suggestion could the powers that be move National Heroes Day to October as there are no holidays in September or October? I realise that it there is a political element which may preclude that or eliminate Errol Barrow day and include him and Grantley in the single National Heroes Day in October.

    The suggestion re Barrow and Adams will offend people in both camps which is a good thing

    Like

  • Again…what is the Mia government waiting for, there is NOTHING LEFT to ROB from the PEOPLE…time to get creative, innovative and progressive, issue some licenses and permits to the people who already have the skills and experiene with Cannabis…and get to work and get the island moving..

    I understand there are people in the MAJORITY POPULATION who are ready to start…but the government is still sitting on its ass and not making any intelligent moves forward.

    “Scientists in U.S. Given Approval to Import Cannabis Material From Canadian Site
    Oct 08, 2018 | By Alexander Beadle

    Scientists in U.S. Given Approval to Import Cannabis Material From Canadian Site
    The U.S. government has broken from its usual hard-line stance on drug regulation and border control to allow a Canadian cannabis producer to import its product into the U.S. for medical research.

    The decision, which is the first of its kind, will allow a research group at the University of California San Diego’s Center for Medicinal Cannabis Research to access cannabis capsules produced by Tilray Inc., a cannabis research and cultivation company based in British Columbia. Researchers will use this imported cannabis to evaluate the usefulness of cannabis medicine in treating neurological tremors.”

    Like

  • @pieceuhderockyeahright October 10, 2018 9:31 PM “… i have an inventive accountant!!”

    Is that the same as a damn criminal minded fella?

    Liked by 1 person

  • @pieceuhderockyeahright October 10, 2018 9:31 PM “…plan is not going to work because it seeks to tax people.”

    Why do you seek to make taxes seem like a bad thing?

    Taxes are good.

    Repeat after me.

    Taxes are good. Taxes are good. Taxes are good.

    Taxes are the thing government uses to provide services, such as policing, to protect the properties of the rice. Because we poor people have nothing worth protecting.

    Roads for the rich to drive on, because we poor people walk.

    Education so that the capitalists can have a useful work force. Because we poor people have no capital which needs a work force to multiply it.

    Maternity benefits when poor women deliver children, otherwise known as the new work force, delivered and raised by poor women. Because rich women don’t have many children.

    So can you explain why rich capitalists seek to avoid taxes? Mek it real simple so that even I can understand.

    Do capitalists really believe that a healthy, productive work force drops down from the Kingdom of Heaven?

    If so do they also believe in Santa Claus? And the Tooth Fairy. And the Easter Bunny?

    Simple Simon who does nor believe in capitalist myths

    Liked by 1 person

  • @Sargeant October 11, 201811:10 AM
    “Good Friday,
    Easter Monday
    National Heroes day
    May Day
    Whit Monday
    Five holidays within a 5-6 week period and I thought why did I leave Bim?”

    Barbados has 11 public holidays, Canada has 11 public holidays, the United States has 11 public holidays.

    We don’t want public holidays in September/October, because it rains a lot in September/October.

    What do we suggest we plan to do on a September/October public holiday when it is raining 9 or 10 inches?

    Like

  • @ Sargeant

    [[[De Ole Man only send dis item to you cause you semm to be a good feller who is patriotic and you want to do your patriotic duty

    Here is one of the preliminary tickets for The Gathering 2020 as opposed to a “Bim I Cumming Home” or something Bajan bout we nabul string buried deah or sumting

    But I only send dis to you so I gine be very disappointed effing you disclose it to udder bajans Sargeant…

    https://i.imgur.com/c3lUIrd.png ]]]

    I even use 3 square brackets

    Like

  • I got this feeling this lady is going to outlive both Dale Marshall and George Payne.

    Like

  • From behind a paywall, so I just c&p the relevant details…
    “SOL operates 526 gas stations in the Caribbean, and distributes and sells fuel in 23 countries…SOL also has 32 import terminals, seven pipelines, three marine berths and 10 ships…Under the deal, Parkland will get three-quarters of the shares of SOL Investments and SOL will acquire a further 8.4 per cent of Parkland’s shares, lifting its interest to 9.9 per cent. After two years, Parkland will have the option to buy – and SOL will have the option to sell – the remaining 25 per cent of SOL for 8.5 times adjusted earnings before interest, taxes, depreciation and amortization.
    Parkland will finance the deal with $1.1-billion of debt as well as the $518-million it will garner from issuing the shares to SOL, the companies said.”

    Liked by 1 person

  • Dear Piece:

    Do you have something against single, elderly, black women?

    Did we perchance steal your joy?

    Like

  • @ Simple Simon,

    No i ent have nothing against sigle elderly black women (especially if dem look like Glennis and Fleur which some of you do heheheheheh)

    But is am unsure as to the context of your statement…is it with regard to the posting about the Gathering 2020?

    I see that it is not a programme that has been given much coverage by the Mugabe administration.

    The context of witches is not to single our elderly women Simple Simon it is set against the Inane Name of “The Gathering 2020” which is a programme that Mottley recently announced.

    It would appear that the local news media has not seen it as yet but @ Sargeant was able to reference it in his recent post on the subject.

    Its being circulated among bajans in the diaspora but does not seem to be visible in Barbados as yet

    That is really interesting because one would think that home drums beats strongest…

    Like

  • @ pieceuhderockyeahright,

    Was up till 3 am watching videos of the NOT elderly Glennis. lol

    I did share in the Diaspora corner.

    Needed a distraction from the depressing news about the plight of pensioners in Barbados.

    Liked by 1 person

  • pieceuhderockyeahright

    @ Brother Hants it is indeed a sad commentary when you arrive in your Golden Years and your Government unilaterally decides to give you its Bersion of Golden Showers, and to unceremoniously piss on your pensions and gratuity WHILE YOU ARE YET ALIVE.

    For whereas its two well known highwaymen Pain and Teets did conspire and give substandard care to Ermine Atwell and then AFTER SHE DIED, proceed and steal her property by rewriting her will, this is even worse.

    Such is the puffed up power imsginstionx of Mia Mao Mugabe Mottley that, EVEN WHILE THE OLD PEOPLE ARE ALIVE, MIA and her crew of 26 highwaymen HAVE CONSPIRED TO TEIF THE PROPERTY OF THESE PENSIONERS IN BROAD DAYLIGHT!!

    AND NOT A WORD FROM THE PRETEND LEADER OF THE OPPOSITION BISHOP REVEREND PASTOR JOSEPH ATHERLEY!!

    In this case thousands of pensioners are alive and kicking and Mugabe has decided who will live, AND SPDND THEIR PENSIONS AND SAVINGS, and who will be made go suffer for 13 years and never get a cent.

    But don’t forget Brother Hants

    Mia Mugabe Cares!!!

    Liked by 1 person

  • pieceuhderockyeahright

    @ Brother Hants

    You must be sleeping all like now.

    De ole man may not be able to observe the public relations fiasco at 5 PM when Mia Mao Mugabe will be spewing another set of bovine excrement to the party faithful.

    So I lef de fort to you to report de lies spewed.

    I know you going be brief in what you share wide me, cause Glennis and Fleur got a show later dis evening so you ent going prolong the garbage she says too long in your synopsis AND MISS DEM BEAUTIES

    Like

  • Vincent Codrington

    @ Northern at 8:05 PM

    Purchasing SOL with proceeds of a loan and an issue of shares in Parkland. What a fine piece of Financial engineering?

    Like

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