Two More Years

The article (below) by Barbados Today attempts to capture the contribution on VOB 92.9 Starcom by Minister in the Ministry of Finance Ryan Straughn on the economy and his forecast. To be honest after listening to Straughn – a key man on government’s finance team – the blogmaster was not optimistic the country will see an ease in two years. There are no shovel ready projects and the those in the pipeline are all tourism flavoured.

The banking systems is reported to be awash with money: Barbadians not borrowing, banks not lending or both. There is the sick National Insurance Fund. Not exhaustive but there is a beleaguered middles class who has endured belt tightening mode for more than 10 years under permutations of the Medium Term Fiscal Plan and the Medium Term Development Plan. Now there is BERT!

Thanks to @John A

David, blogmaster


 

252 comments

  • fortyacresandamule

    @David. Even though I truly believe we are caught in a structural a low-growth trap, nevertheless, we must interrogate all aspect of the system to find out why. The BSS, as the premier statics department, should not be above reproach. We need a more robust statistical agency that relases crucial data regularly and on time.The BSS doesn’t even keep a public calendar with release date about important economic metrics. Not even a dashboard with basic statistics.

    Like

  • fortyacresandamule

    @David. Every 2-5 year on average, most developed country rebased their economy to reflect fundamental structural change within the economy. When was the last time Barbados carry out such an exercise? Example, The Bahamas rebased their economy two years ago, and come to find out, their nominal GDP increased by 30%. In other words their nominal GDP was structurally 30% bigger than previously thought.

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  • @ Enuff

    You return to BU and do so with the same old fabrications. You have a problem. I have never said that pension funds do not invest in COMMERCIAL property, dummy. Commercial property is one of the biggest, if not the biggest, investments for pension funds. Do you know anything about pensions?
    You obviously cannot remember or do not want to remember the discussion was about Sagicor’s investments in RESIDENTIAL property which I said was high risk. And it is.
    It is clear for whatever reason you do not want to be honest in discussions. Maybe it is because you are not chairing an all-white conference. So, no matter what you say from now on, I refuse to have any further discussion with you.

    Liked by 1 person

  • @ you Honourable blogmaster ARE THE IDIOT HERE!

    Go back to the rambling shite you wrote and see what you wrote!

    The problem with idiots like you is that you feel empowered to sprout your idiocy CAUSE YOU HAVE THE POWER “TO BLOG OR NOT TO BLOG”

    But I will use what you wrote to show how idiotic you are ON THIS SUBJECT!

    You said and I quote

    “… David February 8, 2020 8:57 PM

    You continues to expose your idiocy on the blog.

    UNFORTUNATELY YOU DO NOT HAVE SOLE PATENT TO THAT TRAIT OF IDIOCY, IT IS SHARED!

    Barbadians attending an ideas forum of their free will to share suggestions/ideas to improve the lot of country is to be discouraged?

    WAS THIS WHAT I SAID BLOGMASTER?

    Let me assist your limited reasoning skills!

    Do you have an effing clue WHAT MIA MOTTLEY IS SEEKING TO DO IN THESE TOWN HALL MEETINGS?

    DO YOU UNDERSTAND WHY SHE IS RH TAKING NAMES?

    It seems in your haste to be the Joe Atherley on the blog you prefer to conflate works to be patented/copyrighted with the sharing of routines ideas of citizens borne from civic responsibility

    DO YOU COMPREHEND WHAT CIVIC RESPONSIBILITY MEANS VIS A VIS INTELLECTUAL PROPERTY?

    DO YOU COMPREHEND WHAT “PRIVATE SECTOR PUBLIC SECTOR PARTNERSHIPS ARE?

    You as the specific BU BORG commenting here are an idiot but none of your collective can stop you!

    But whenever you drop these idiotic comments like “…something that represents the pillars upon which a participatory democracy is built…” DE OLE MAN GINE CALL YOU OUT!

    This is not RH FREE RIDES

    This is a out creating an environment where people THE PRIVATE SECTOR feel disposed to help their country BUT, YOU IDIOT, ARE PAID, IN THE SAME RH WAY Maloney or some other bukkra Johnny GETS PAID WHEN THEY BRING IDEAS TO GOVERNMENT!

    Unlike you, I ent drink de RH coolaid.

    You problem is that when Fumbles WAS BULLING BAJANS YOU WERE ALWAYS THERE AIDING IN HIS DOWNFALL!

    Now Mia doing the same bulling YOU VEX AND GETTING YOU PANTIES IN A BUNCH hating anyone including Atherley AND THE RH SENATOR CASWELL FRANKLYN dat you claim you love so bad!

    Your puerile anti Atherley comment exposes your true sentiment for Caswell David King.

    And you are slowly but surely exposing where your loyalties lie IN SAVING RASS**LE BARBADOS!

    Like

  • You dont have to post that response David King cause it shows who you are

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  • @ John A February 7, 2020 8:44 PM

    In making a fair assessment of the BERT programme, we should distinguish the actual purpose of the programme from political wishes. The sole purpose of the programme is to stabilise finances (including the banking sector) after Barbados was on the verge of devaluation and total chaos. Capital flight has been halted for the time being and Canadian banks are still on the island. In this respect BERT was a complete success.

    But I do not recall any serious person on the island ever claiming that BERT could generate growth. Quite apart from the excessive taxes, that is an impossibility. The government is faced with a society that idolizes the fat social state, is only partially fit for work and refuses to undertake necessary social reforms. With such a population, even the best government cannot achieve lasting and substantial growth.

    We should therefore not criticise the government for 12 years of zero growth, but the socially conservative population, which, like the Taliban in Afghanistan, is radically opposed to any kind of rational reform. What do you think would happen if the government fired 10,000 of these slackers from the civil service? We would have a popular uprising, because the masses, in their arrogance, simply turn a blind eye to reality and want a life free of effort at the expense of international creditors. The enraged population would sweep away the 30-0 rule of the BLP and re-elect the DLP by an overwhelming majority – even if it meant the total ruin of the island.

    The only way out is a government of experts and technocrats with simultaneous suspension of the right to vote and a ban on opposition parties for 20 years. Our Most Honourable Prime Minister should seriously consider taking this drastic measure. Of course, she would have to continue to head the government of experts for this period as Prime Minister in order to guarantee democratic legitimacy. After 20 years, the people should then be allowed to return to the ballot box and vote on the BLP mandate.

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  • In other words, we need a market-driven democracy that subordinates the irrationality of the voters to the rationality and order of the markets. The right to vote for all means that the state’s goal is oriented towards the impoverished masses and their striving for social welfare. The economic data show that this is the wrong way. We need a trustee for democracy that cushions the irrationality of the masses and translates their desires into rationality.

    This is precisely why we have a government that deserves an extended mandate beyond a five-year term.

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  • Notice how Mia is quick to put pen to paper to place Barbados in more debt
    Read where she is giving praise to these international loan sharks for helping her to place the country in further debt
    Barbadians have felt the iron fist of the international collection agency (IMF) in the most harsh and brutal manner as they laid the economic ground work as to who should paid first and in which way and manner
    As a result inflation reached its highest level
    Taxation gone through the roof
    Fees are in an excess of 100percent and out of reach of the average barbadian on minimum wages to pay
    Food and other household requirements are at extreme levels cost wise
    The path which PM choose is absent of creating a semblance of economic growth which can help to ease the economic pain off the shoulders of barbadians
    A path which was travelled before under OSA and which finds the barbadian household driven further down a highway called POVERTY

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  • What is the cost of remanding innocent men and woman in prison for up to ten years without trial? Is the high cost of the criminal justice system part of the fiscal plan?

    Is the president being honest when she says no accused person should get bail? What about those who have been remanded for up to ten years? Was she a Labour attorney general?.

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  • What became of the salt bread case?
    Did he eat the evidence?
    Haven’t heard a word since

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  • The PM hath spoken an she smiling an she ent wearing a scarf.

    ” Barbados’ economy has now “turned the corner”, and the Inter-American Development Bank (IDB) has played a significant role in the effort, says Prime Minister Mia Amor Mottley.

    She praised the IDB and the Caribbean Development Bank (CDB) for coming to her administration’s aid in 2018 and said “the future of this country this year looks good”, with economic growth predicted to return.”

    https://www.nationnews.com/nationnews/news/243833/pm-thanks-idb-helping-hand

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  • Which corner? With pensioners not being paid, it is like having a massive bank account and not paying your bills. By the way, how about White Oaks? We were told late last year that a provisional arrangement had been reached with external creditors. When is the full and final deal going to be signed?

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  • Something needs to be done about these conflicts of interest that has corrupted the parliament, supreme court and bar association, they are the main reason the island was sunk to its knees…because CORRUPTION IS THE RULE.

    I don’t think this lawyer was aware until he saw the relationship of conflict in one of the ICIJ expose of who is who on this and that board from the corporate affairs business registry.

    “Douglas Trotman
    50 mins ·
    It is with mixed feelings that I pen this missive… does relationship bias equate to corruption?

    Gollop, Stuart(former AG and PM), P.Cheltenham, and Worrell(judge) are indeed not in a partnership.

    They are directors of a company “Harford Holdings” and each joint signatories to a mortgage held by that company.

    As it relates to their professional practice over the years, I have knowledge of being involved in a case… involving the Indians in 2006- the Cricket World Cup Kensington redevelopment project… where Hal Gollop and son, along with AG Dale Marshall appeared before Justice Worrell in a hearing related to the 14 Indian workers.

    At that time I was unaware of the “relationships” which existed.

    There are other matters… the most critical for me is the Sam Lords Castle matter…

    Here Mr. Gollop represented a company that made an offer to purchase the assets of Grant Hotels Inc.(the company which held the lands comprising 58.1 acres- including the castle structure; and Harrismith(26 acres)).

    That offer never progressed beyond the offer letter stage but was referred to in the substantive case. Justice Worrell was the judge in this case.

    I am conducting an investigation into the relationship between Justice Worrell and Mr. Gollop…and have sought international help.

    That Stuart was both the AG, then the PM is notable. Meetings with him were unfruitful. I can only now surmise why.

    Pat Cheltenham was the attorney who acted for the NIS which brought an action against GHI that triggered it’s Insolvency process…thus forcing the subsequent closure.

    On discovering the above, and being warned by friends about possible danger to life and limb for “exposing” this type of information I have been very cautious to date.

    I am throwing caution to the wind and I put my life and lime squarely in the hands of my ancestors and destiny.

    The question is whether “relationship bias” affects the outcome of cases before the law courts in Barbados.

    If so, whether the resulting delay which affects clients and attorneys in financial ways, possibly causing them to lose their business.. is actionable against the parties creating the bias.

    This is but an introduction to some of the work that I am doing and the work that needs to be done across the board if we are to right size our judicial system.

    A relationship analysis with a look at cases is a start. This too may reveal reasons for the backlog of cases in the system.

    It is clear to me that the government will not pursue an investigation such as this and so this comment on Facebook is meant to draw feedback from you the public.

    Consider the scenario presented… ask yourself if you were the client or attorney…caught in a relationship web, totally unaware…but wondering how you could possibly have “lost” that case… only to find out afterwards that a situation like what exists may have contributed… for sure..one can only know if there is a probe.

    Judges and politicians are not beyond investigation or reproach… they seem to think so.

    “…………………..
    I have also had a look at corruption…

    The other issue lies in blatant corruption as it relates to the procurement of works, goods and services. The government bought procurement software in 2013.

    That software… the data contained within needs to be audited from then up to present.

    That would capture a 5 year period for the DLP led government and an 20 month period for the current BLP led government.

    I am looking forward to chatting with the Chair of the Public Accounts Committee of Parliament to see if such an investigation falls within his remit.”

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  • All the ICIJ has shown is the corrupt relationship of the crooks who run in packs, along with those with offshore accounts holding stolen bank accounts, stolen estates, stolen this and that from their victims and you can always find them in packs of 3s and 4s sitting together on the boards of companies, that is why investigations have to be started on all of them.

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  • “In other words, we need a market-driven democracy that subordinates the irrationality of the voters to the rationality and order of the markets.”

    nah…ya need a thorough international investigation…and all of you NEED JAILING.

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  • Piece…feast your eyes.

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  • Mr Trotman has to watch himself.
    Must be tough when the system you operate/believe in turns out to be very different from what you think.
    Discovered he is on snowball side of the pigs.
    Hope he does not find out, it is even worse than he thinks,. I doubt the Napoleonites will give up without a fight.

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  • Theo…if they touch him it will definiitely be over for them, they are brazen we know, but attempting to hurt or kill someone for discovering their crimes, in these times, with all eyes upon them, don’t think even they are that stupid, although you never know, but we shall see if they hurt or kill anyone for exposing their human rights crimes against the people of Barbados, most of whom were unaware, many already in their graves and those left behind to vulnerable to fight back.

    For years and years those who came on the blog to expose the criminality and human rights abuses by those in leadership roles were called liars, frauds, demons, bitch, this and that….so we wait to see what they send their imps to do next, there are handcuffs sized for imps, pimps and yardfowls too.

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  • @Tron
    “Capital flight has been halted for the time being and Canadian banks are still on the island.”
    How do you know ‘capital flight’ has been halted? Or even slowed?
    What does Canadian banks overall strategy have to do with anything. CIBC sold. The other two are openly ‘for sale’. The challenge is finding a buyer. In the short-term they are maximizing their profits, to offset any loss in a sale.

    You dodged the White Oak ‘success fee’ on local debt restructure? After that debacle, I would like elections every 3 years. If MAM gets re-elected, that is fine. Not interested in any dictatorship. I would have to return to my rebellious days.

    Liked by 1 person

  • They need to go right through the Caribbean and weed out the parasitic rats, all of them who have been holding up progress for the Caribbean people for 80 years, this did not just start yesterday or 30 years ago, it was handed down to at least 3 generations of vulnerable Black people, by crooks to at least 3 generations of the most toxic, corrupt leaders who only want to be millionaires and big mansion owners, some have been boasting of owning an island, yet all the islands with greedy leaders are broke and always IMF bound.

    And UK no less is leading that battle.

    http://jamaica-gleaner.com/article/lead-stories/20200209/no-impunity-corruption-international-partners-keeping-eye-jamaica-warn?fbclid=IwAR2rCxipltRfmDt0XZ7O4pmp2Twtfmsn_BFHCuCLuhHzarwG7xsb8wkSg6A

    “The fact that only one of the 12 politicians who demitted office in the last three decades amid corruption allegations has stood trial has not escaped the attention of one of Jamaica’s main international partners.

    After spending millions of taxpayer dollars to create and strengthen a number of anti-corruption institutions in Jamaica, the Government of the United Kingdom (UK) has signalled that it now expects to see more Jamaican public officials and business executives being held accountable for acts of corruption.”

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  • I support and commend the efforts of those individuals who seek to expose corruption, “criminality and human rights abuses by those in leadership roles.”….. as long as it’s done without any malicious intentions.

    I mentioned on a previous occasion that the ICIJ’s website has a disclaimer, which simply says: “There are LEGITIMATE USES for offshore companies and trusts. We do not INTEND to SUGGEST or IMPLY that any people, companies or other entities included in the ICIJ Offshore Leaks Database have BROKEN the LAW or OTHERWISE ACTED IMPROPERLY.”

    To mention “all the ICIJ has SHOWN is the corrupt relationship of the crooks who run in packs, along with those with offshore accounts holding stolen bank accounts, stolen estates, stolen this and that from their victims,”

    …….. (a). without taking the ICIJ’s disclaimer into consideration;

    …….. (b). under circumstances where the flowcharts have not PROVEN anything BEYOND inter-locking directorates, (unless someone can state otherwise) ……. and WITHOUT PRESENTING any ADDITIONAL SOURCES of INFORMATION to SUBSTANTIATE those claims ………

    …….. can only be reasonably described as FRAUD and a malicious attempt to cast aspersions on the reputations and integrity of those individuals.

    I’m NOT “saying” the individuals mentioned on those flow charts MAY NOT BE involved in criminal activities…… all I’m “saying” is the flowcharts, in the form they are presented to BU, do not prove they are.

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  • lawd me gawd….

    “Douglas Trotman Gail Lowe and that is the decent part of the story… but things are coming to a head… just now!!
    This is eleven ( 11) years I have been fighting “certain” people who are hell bent on disenfranchising a certain gentleman.
    I have fought off several attorneys, inckuding PM Mottley… I have blocked them at every turn but stand ready to settle in the name of fairness.”

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  • At least the lawyer has the good sense to know that coorpt behavior coming from those in leadership positions have no place in today’s environment and that the toxic, corrupt supreme court needs to be “right sized.”…and he has the right to ask for international help.

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  • @Artax
    why bother?
    WW&C is on a mission. She has never cared much about accuracy, you might think sometimes, she and POTUS are related. He tweets, she uses other social media. Neither cares if the contents are accurate.
    Beyond your points, the key is ‘source of funds’ and ICIJ says ZERO about that. Or anything financial for that matter.
    Also, any Barbadian owning an offshore entity, is very unlikely to have said entity owned by a Barbadian corporation? St.Lucia or similar jurisdiction is far more likely. And if its a Trust, then all you will find are the Trustees, with no ties to the beneficial owner. Even when armed with names and locations, I have found it very unlikely to discover anything but the entity name, tied to some trustee or management firm with thousands of clients.

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  • “WW&C is on a mission. She has never cared much about accuracy, you might think sometimes, she and POTUS are related. He tweets, she uses other social media.”

    Northern…you are missing the point, the people who have to be accurate will be …a whole lawyer found conflicts of interest just by checking the names associated with his cases and matching it to an account posted by the ICIJ….that is what he posted on FB…guess who will have to be accurate, those who are investigating the accusations…not me, being accurate is not my job and since i don’t work for a fella, i don’t need to be…I would be more concerned with what is actually coming down the chute at the corrupt, instead of what i am posting.

    Hope you don’t have cocktails with those who will be investigated and got text messages and whatsapp how de do and whats not like Donville….that others can find…me, i don’t know any of these being accused, don’t want to know them either..

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  • BTW…if any of you dumbasses plan to call the lawyer a liar, he is not lying and if you do, i hope you get investigated too.

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  • Look at the bright side, the Caribbean’s “international partner” UK has Jamaica under corruption watch, ya know, their politicians and business people…great news, so why not let’s take some bets and see if Barbados’ politicians and business people are next, ya know, their “international partner” UK.

    i bet $50 bucks, anyone wants to backraise me?

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  • Hal
    734 RESIDENTIAL UNITS. Tek dah!! Once again shown to be a peddler of untruths. Here is another example 100% RESIDENTIAL:
    https://realassets.ipe.com/main-navigation/lpfa-grainger-to-finance-london-prs-project/10003154.article

    Like

  • @ Enuff

    Hal
    734 RESIDENTIAL UNITS. Tek dah!! Once again shown to be a peddler of untruths. Here is another example 100% RESIDENTIAL:
    https://realassets.ipe.com/main-navigation/lpfa-grainger-to-finance-london-prs-project/10003154.article
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    YOU HAVE TO BE ONE OF THE MOST DISHONEST AND TRIVIAL INDIVIDUALS ON BU.

    WHY DON’T YOU DISAPPEAR PERMANENTLY AS YOU PROMISED AND KEEP LICKING THE 2 WHITE MEN BALLS YOU ARE HAVING ‘MEETINGS’ WITH ON A REGULAR BASIS?

    JACKASS.

    Like

  • @ NorthernObserver February 9, 2020 1:50 PM

    The Canadian banks could have closed their local retailing business completely and settled the financial transactions via Canada or one of the Caribbean nests. They could have fired all local bums at the counter and in the offices immediately. They did not do that and the population owes the Canadians a lot of thanks for that.

    As far as the fees for White Oak are concerned, it will be like all major international transactions. You not only pay the corporation you are dealing with, but also a personal gift to the managers of that corporation. In the case of White Oak, it certainly took small gifts to our international creditors to make them happy as well. So in addition to the White Oak fee, you have to take into account various small gifts. So there’s no need to worry, just business as usual.

    Our government must satisfy the international financial market at any cost. The market is more important than democracy, human rights and other peripheral issues of history.

    So once again our government has done exactly the right thing. Our government had to do the dirty work after Stuart slept for ten years. In return, the population owes Mia Mottley and her team at least five more terms at the polls.

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  • @Hal Austin February 9, 2020 9:53 AM “What is the cost of remanding innocent men and woman in prison for up to ten years without trial? ”

    About $320,000 BDS; or $170,000 USD or 124,000 British pounds, or 146,000 Euros

    Why you asking though? We can afford it.

    Liked by 1 person

  • “But I speak to you here not only as governor of the CDB [for Barbados], Prime Minister of Barbados and chairman of CARICOM”

    https://www.nationnews.com/nationnews/news/243845/mia-cdb-strategy

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  • Always popping total shite…she should tell the CDB where the BILLION DOLLARS in VAT that was collected at POINT OF SALE over the years by business people gone, that was the PEOPLE’S MONEY that could have funded youth programs, provided endless opportunites for those now in prison, the criminals they themselves created to line their own pockets…. and why she wrote it off and hundreds of millions in tax evasion money for family and friends and the same corrupt business people which were all written off also instead of being collected, all the while acting like the money was hers to give away, why billions are missing from the treasury, hundreds of millions missing from the pension fund AND NO ONE IS IN PRISION, CHARGED OR INVESTIGATED.

    Those are the important things to tell CDB instead of attempting to assign blame to them for the island’s predicament, talking shite like everyone has short memory and shorter attention spans…

    ……if 3 generations of the island’s youth had not be deliberately and maliciously neglected by both corrupt governments so that they can both promote…POOR ASS MINORTY CROOKS AND RACISTS…over the decades and over their own people, had the money stolen by them and their friends been used for the PEOPLE TO WHOM IT BELONGS INSTEAD OF STOLEN BY THIEVES AND PARASITES…aka all of them and their briber friends…she would not have the nerve to pretend she is innocent in all of that…or seeming to scold CDB for not upgrading..

    ..since IDB has recently offered loans and challenged her to put the creators and investors FIRST…a group both governments with their evil, badminded, greedy ways and NEGRO CONDITION….have robbed, disenfranchised, marginalized, oppressed and suppressed over many decades, always showing their hatred and disdain for BLACK CREATIVES…. and when they themselves, both useless governments, never upgraded anything on the island for over 50 years, although they all had tens of billions of tax dollars, LOANS AND GRANTS to do so…they should explain what they did with all that money, why the island’s infrastructure is deplorable…WHY PENSIONERS CANT GET THEIR BENEFITS….why the hosptal is in such a repulsive state, why the nurses and maids….dont get paid for months at a time.

    They are yet to understand in their house negro roles…THAT THE MAJORITY BLACK POPULATION PAYS THE TAXES AND FUND THE ISLAND…always have, always will…..the money is theirs, it does not belong to the crooked cows, maloneys, bizzys and bjerkhams or any of the minorites they promote and suck up to for the bribery factor…neither do the lands and estates of the elderly or vulnerable people’s bank accounts that they have ALL BEEN TIEFING for decades.

    Tell CDB that…as a matter of fact, tell yall brand new “international partners” UK…all of that.

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  • We totally understand why this has happened in US, as wrong as it is, a country that even after centuries is still fighting slavery and racism demons, where Black people, the minority in that land, are still fighting for certain rights, but can she or anyone else explain…WHY THESE SAME VIOLATION OF BLACK HUMAN RIGHTS…, continue to be perpetrated against the BLACK MAJORITY…led by ugly black governments….that is what should be explained.

    And don’t tell me it is UK caused them to do it, the old rumor i have been hearing for decades….another shite excuse it would be coming from weak black people.

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  • CORRECTION

    since IDB has recently offered loans and challenged her to put the CREATIVES and INVENTORS FIRST….

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  • Yeah…corruption, in this instance the decades old destroyer of Black lives, this happens when Black governmemnts refuse to learn anything outside of their uppity fake titles and uselessness…the citizenry is now AWAKE…so shut the hell up with your lies and misdirection.

    same shit, different day.

    Then the rotten leaders want to jump out with the weakest and flimsiest of excuses when they KNOW it is their corruption and neglect of their own people causing the crime waves and DISPARITY IN WEALTH…they suck up to people who look nothing like them to enrich them in exchange for robbing the people and pretending to be world famous.

    “This is one of the most irresponsible utterances to date from a head of government, Prime Minister Holness. Jamaicans lived through the carnage of of over 1,100 killing in 2019 and you Mr. Prime Minister is now blaming the victims, “Jamaica has a corrosive permissiveness for violence,” Holness. I do admire Mr. Holness social media blitz in position Jamaica and himself as ready for and doing business. That will come to naught Mr. Prime Minister with you and your government appearing to be morally and intellectually bankrupt in solving the crime problem in Jamaica. Prime Minister Holness the truth is the heart of Jamaica’s problem is the corrosive and permissive acceptance of CORRUPTIONS. And while corruptions exist in almost every facet of Jamaican life the real problem is not just corrupt officials robbing the treasury blind.

    Mr. Holness the most insidious and pervasive form of corruption destroying this country is the fact that we are a country with the largest income and wealth disparity in the world. Jamaica, a country whose income and wealth disparity is the index by which other countries are measured. Mr. Holness the average man in the street does not understand this. The average man in the street, the pawns of the levers of powers don’t understand that if we wipeout all the gun toting bandits tomorrow and not solve the income disparity, the crime problem of Jamaica will not be solved. Mr. Holness you, your government, and astute Jamaicans know the truth of the rotten and cancerous nature of a society where a small percentage of people own the majority of the wealth and income.

    Mr. Holness, fighting corruption on every level must be front and center. Corruption is not a political football to be kicked around pointing fingers at the other guy, the other party. Ensuring that the relevant police and judicial authorities have the full unwavering support of the government in rooting out and prosecuting corruption without fear or favors must be front and center. Launching a campaign to educate and enlist Jamaicans in the fight against corruption will pay immeasurable dividends. And of course, enacting tax legislation to reduce the tax burden of the working poor and retirees. The GCT tax is regressive and onerous and should be removed from all food items or at least all locally produced food items.”

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  • All these corrupt governments sing from the same hymn sheet..

    their “universal partners” UK…need to come and collect them, those are their monster creations, you own them…they are your property, says so right in the Constitutions, they pledge allegiance to you each and every election cycle…NOT TO THE PEOPLE…so they are yours that you unleashed on vulnerable Black people….

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  • @ Baje

    Neither the pensions regulator nor the FCA kin the UK (nor the scheme members) would tolerate a pension fund investing large amounts in residential property. It is too high risk and illiquid.
    The first test is to the scheme’s/insurance company’s long-term obligations and the scheme/company must be in a position where in a case of a shock they can meet those obligations without any serious threat to the survival of the business.
    After Clico, thinks should be a priority in Barbados.
    By the way, rental properties/shared equities are not the same as residential mortgages. IK would put a ban on Googling. It is no substitute for knowledge.

    Liked by 1 person

  • Oh gaawd volte face….as usual and narrative shifting! From shouldn’t to large amounts. I thought White Oaks and the debt restructure was gonna end up in Court and tears? You’re a bullshitter and blusterer. You do not mean well, you are just an egofowl bent on trying to prove that because you live in the UK you are better than Bajans living in Bim. Often times with wrong info! Don’t call my name and I’ll keep my tail off BU. #100%resi #idontGoogleformyinfo

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  • “Don’t call my name and I’ll keep my tail off BU.”

    ya can’t stay off BU, ya got brand new “international partners” UK..alyuh now gone international Enuff, ya gotta be there for the main events…all fowls invited.

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  • @Tron February 9, 2020 10:11 PM
    what an interesting response.
    The concern with WO is NOT the international creditors per se, rather the ‘success fee’ for ‘renegotiating local debt’. It was a slam dunk. and they get a percentage on the TOTAL amount renegotiated. So they negotiate 5%, 10%, 12%, 15% or whatever savings, and they still get the same fee, as is it paid on the principal amount. You might think they were investment bankers. It isn’t a success fee, it isn’t tied to any success, but only the total principal amount. So $40M+. That buys a lot of buses and garbage trucks?? Not to mention gifts.
    P.S. I need to get on that ‘gift list’. You must be on it… lol

    Liked by 1 person

  • @enuff

    Had banked in you being able to defend your positions and not follow a predictable path .

    Like

  • @ Northern.

    I would Go a step further and say WO should have been paid an agreed percentage on THE TRUE NET REALIZED SAVING AFTER INTEREST AMORTIZATION AND NEGOTIATION COST BASED ON THE NEW MATURITY DATES.

    But wait hold on if that had happened they wouldn’t of got a blind cent! LOL

    Liked by 1 person

  • @JohnA
    you heard Buchheit’s comments on success fees?
    He admitted he “got taken”, seems he wasn’t the only one.

    Liked by 1 person

  • @ Northern.

    Yes he admitted that when the TRUE TOTAL COST of the exercise was taken into account the fees for the net gain were HOT as we say here in BIM.

    Thing is I think he realised after all the smoke had cleared and all was factored in, including the new interest cost to the new expiry dates, that the net saving was no where near what was thought. One could say WO were it saving a business called BIM, was paid on sales and not increased net profit.

    Why nobody every pay me so?

    Liked by 1 person

  • @ Northern

    What I found most interesting from Buchheit’s address was when he spoke of the danger of restructuring debt. One can see how extending payments past their current due date means we can find ourselves unable to finance any growth down the road, as we have no excess liquidity to finance new debts for development.

    Sound familiar?

    Liked by 1 person

  • Isn’t that what the 6% surplus and reducing % dept to gdp will provide?

    Like

  • Yo… Douglas Trotman, well known lawyer, has a blog on our favorite topic that we beat to death already, incestous crookery and corruption, corruption, corruptioin, ah want to see all the moutta browns and fowls going on the link and telling us how they really feel.

    Alyuh had a lot of stupid talk for me and others, in my case, over the last nearly 8 years, now is your opportunity to SHINE in glory.

    Piece…but look at life.

    Like

  • fortyacresandamule

    PM Holness is 100% right. Jamaicans ( those that engaged in violence) are the most violent set of negroes on the planet. Even the Haitians next door, 5 times poorer, don’t slaughter its own on a per capita basis like Jamaicans do. There got be some neurological or genetical predisposition at work here.

    Like

  • It’s the same politicians created that environment and atmosphere of violence and crimes over the decades in the Caribbean islands, with their yardfowl philosophies and breeding poverty in depressed neighborhoods that were deliberately ignored post independence…the same can be said for Barbados on a much smaller scale, check out the escalating violence, if left unchecked, it will be the same in 50 years, useless, greedy governments, thefts of state funds by all of them, lack of opportunities and progress in the black majority populations for the last 3 generations….caused all of this.

    check out Cynthia Forde talking shite about not enough funds for something or the other, she failed to mention that Mia wrote off 1 BILLION DOLLARS in VAT that the business people, her friends, stole from the people, also failed to mention the hundreds of millions in taxes written off for family and friends, the thefts of billions from the treasury and hundreds of millions from pension fund …all of which could have funded programs, this and that…created opportunites for those now deemed criminals due to violence and oppression and suppression…

    this corruption and theft of public funds by governments causes a crime filled Jamaica and Barbados to emerge…creating vicioius crimes and criminals…put the blame right where is belongs…corrupt, small time governments.

    Like

  • @ John A

    I gots to watch meself!

    You are “growing ” on me! I going have to watch that.

    Heheheheh

    You said, and I quote

    “…I would Go a step further and say WO should have been paid an agreed percentage on THE TRUE NET REALIZED SAVING AFTER INTEREST AMORTIZATION AND NEGOTIATION COST BASED ON THE NEW MATURITY DATES.

    But wait hold on if that had happened they wouldn’t of got a blind cent! LOL…”

    But you forgot to add “…and the Minister and permanent Secretary would have gone home empty handed…”

    Heheheheh

    Like

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