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What About the Economy Stupid

Prime Minister Mia Mottley continued the recent trend of making controversial and contentious announcements. She revealed government’s recommendation to rename the University of the West Indies in recognition of the late prime minister Owen Arthur. To honour convention of parliament parliamentarians in the Lower House set aside yesterday to pay tributes to the late prime minister.

The blogmaster has no problem with recognizing Owen Arthur to recognize his contribution to Barbados and the region. The Vice Chancellor and her management team will decide if to accept the recommendation from the government of Barbados, who by the way is its biggest contributor to UWI’s finances.

There is a creeping feeling by the blogmaster Barbadians – as is our inclination – are being distracted by ‘political noise’ and the current dire state of the economy is being relegated. There are several national conversations on the go – recognition of same sex unions, push to be a republic next year, by-election in St. George North and the latest – proposed renaming of the University of the West Indies, Cave Hill. It does not help that the political opposition and media will be consumed by these events and there the masses.

Wait a minute – what about the economy stupid!

186 responses to “What About the Economy Stupid”

  1. Greene Avatar
    Greene

    Yeah MAM knows how to bob and weave, distract and deflect, and how to serve red nectar to the Bees. Besides attending, spouting nonsense about one graduate per household and gifting land for expansion how is Arthur linked to Cave Hill that the Campus should have his name? how about naming the economic department after him? or changing St Peter to St Arthur?

    at some point our economic woes are going to come home to roost and then she can resort to her staid but favourite mantra, “the lost decade.” more nectar to the hivers

  2. Crusoe Avatar
    Crusoe

    David,

    You clever fellow. Not a man for smoke and mirrors, are you?

    Waru will be pleased that you picked that up.

    No doubt your point is valid, if not straight out the only important on right now.

    There have to be serious concerns for every household, as to income over the next year.

    Will the unemployed receive extended payments? Will those made redundant receive their full severance, as their right?

    What about those businesses that shut and restart under a new name? Will their employees get the severance they are entitled to?

    Will new businesses be assisted with loans and grants, while the big ones are being bailed out?

    How about food stamps for the poor?

    What assistance in training and set up will the recently unemployed get?

    Lots of questions.

  3. Marginal Avatar
    Marginal

    It is sad that people have fixated on the three items in the Throne speech that will have the least amount of impact on their lives.
    But there was a substantial amount on the economy in there.

  4. Hal Austin Avatar
    Hal Austin

    A week ago we had a Queen’s Speech, and at the first sitting of parliament since then time was taken up with a worthy, if not immediate, issue of paying respect to a former prime minister.
    Have we got our priorities right?

  5. peterlawrencethompson Avatar
    peterlawrencethompson

    @Marginal September 23, 2020 6:35 AM
    “But there was a substantial amount on the economy in there.”
    +++++++++++++++++++
    There was a bunch of economic measures, but they were all stopgap measures with no hope of sustainability. Furthermore, the lack of debate around them means that the usual suspects will raid the public treasury with no effective oversight or controls.
    The major economic policy announcement was giving money to hotels so that they can re-hire laid off staff at 80% of their previous wage. The premise of such a policy is that the tourism industry will have recovered by the time this $300 million is all spent. This premise is, of course, utter nonsense.
    Economic advisor Dr. Avinash Persaud has defended the policy to me by asserting that it is similar to the way that Obama bailed out the banks in 2008. That may be so, but that too was a deeply flawed policy that let banksters of the hook for their corruption which caused the crisis by rewarding them instead of sending them to jail.

  6. David Avatar
    David

    @Crusoe@Greene

    Moving around Barbados in the nooks and crannies there is no sense the majority of Barbadians appreciate the grave state of play we are currently combatting. It was so even before covid came along. One listens to the political directorate and other leaders in the NGO sector, media and the old narratives permeate.

    What will it take to disrupt an ensconced way of thinking? There was great hope covid 19 would have been the great disrupter, maybe a second wave will do it.

  7. Artax Avatar
    Artax

    Greene, come off the political platform.

    Barbados does not own UWI Cave Hill and as such, Mottley can only advocate for the name to be changed. It is not a decision that can be made by her administration. That decision can only be made by the UWI hierarchy.

  8. Greene Avatar
    Greene

    i think people know. talking to some of my people in Bim who are now unemployed from hotel and tourism related closures and cut backs things are dire but they are blaming Covid more than the govt. prior to covid matters were coming to a head but all that was blamed on the last administration.

    the 300 mil routed thru the tourism / hotel industry is more hopeful than inspirational. why bail out an industry that is likely to be chronically ill for the foreseeable future in the hopes that it would trickle down to the unemployed? why not directly bail out the unemployed knowing that they will spend and keep economic activity partially buoyant?

    is there any requirements for the tourism industry to actually spend this money by way of re employing laid off workers?

  9. Hal Austin Avatar
    Hal Austin

    @PLT

    Nice to know you know top people. But I am confused. You said Prof Dr Sir Avinash Persaud said the BdS$300m bail out for the hotel sector (not so-called hospitality) is similar to Obama’s 2008 bail out of the US car manufacturing and insurance sectors.
    But am I right in saying that was quantitative easing? And am I right in saying that a few days the BU chairman said the president dismissed QE as (an offensive word)?
    Is Prof Dr Sir Avinash now saying something that contradicts the president? Or do these little factual things not matter?

  10. Greene Avatar
    Greene

    @Artax,

    he who pays the piper calls the tunes. Bim is one of the biggest contributors to the UWI. if MAM makes a request as politely as she did, do you think she will be denied, given her standing in Caricom and contribution to the funding of UWI?

    the more important question in this regard and one for those making the decision, is why should the uni in Bim have Arthur’s name? i am sure someone will point to the land he gifted and the backing that the uni had when he was in power.

  11. Crusoe Avatar
    Crusoe

    @David and Greene,

    I agree that direct assistance to the unemployed would have made more sense.

    The intended way will result in no accountability and is money into an abyss.

    Just a way of indenturing the workers to the hotels, whereas they should be paying severance to those being made redundant.

    On the issue of second wave, it will not be pretty. Europe, the US, UK and Australia have all been hammered economically.

    Those can, sort of, recover post pandemic, because of their sheer size. Barbados is a secondary market, totally reliant on them.

    I am extremely worried now, about the repercussions.

    Meanwhile Trump fiddles as Rome burns, Johnson and the Tories are completely lost at sea, the West vs China diplomatic battle increases and the UK vs EU Brexit tussle is going sideways because of Johnson’s idiocy.

    This is more than a perfect storm. This is cataclysmic.

    Is Barbados ready? That $300 million would have been better stockpiling food and fuel.

  12. ks Avatar
    ks

    @Artax is correct…… it’s called The University of the WEST INDIES……. maybe Mia believes it’s The University of Barbados?
    If followed through……. and with Sir Hilary as VC, it might…….will T&T then rename the St.Augustine Campus after Eric Williams, the Mona Campus becomes the Manley/Seaga campus, the Open Campus becomes the Mitchell campus, and the recent Antigua campus, the Bird campus…..???? ….when will this stop???

  13. WURA-War-on-U Avatar
    WURA-War-on-U

    More distraction, saw someone got Guy Hewitt to write puff piece in the UK Guardian and post it to Facebook and it immediately GOT NUKED…with reality..

  14. john2 Avatar
    john2

    PTL

    You may be right but there was a lot more that were bailed out than the banks. if there was no bail outs the reccession would have been a depression and a lot of us “little” guys would have been hit a lot harder. a lot of us lost our houses.

    The car industry was also bailed out. GM and ford would probably have gone bankrupt .

    In the covid reccession the airlines and cruise ships are being baled out.

  15. WURA-War-on-U Avatar
    WURA-War-on-U

    Dear Mia:

    Both DBLP have kept the African descended in Barbados mentality enslaved for over 60 YEARS, you do not maliciously keep your OWN PEOPLE psychologically weakened and enslaved for your own political self-aggrandizement and then complain elsewhere…as Guy Hewitt has written you said…that the people are MENTALLY ENSLAVED, all of you had a hand in keeping the population that way with your slimy brand of colonial politics. I personally have been telling both governments about the mental enslavement pf the majority population for over 8 years, no one listened so don’t complain now. It’s obvious that you do not know what to do to free the African minds from colonial mental enslavement, so i suggest you sit down and let others handle that, it’s not for you, it’s for the people and is not to be twisted into another variation of colonial slavemindedness..

    “Hope springs eternal. In July, on ITV’s Good Morning Britain, Prime Minister Mottley, noting the continued problem of “mental slavery”,

    In addition, the only hope the young Black population have ever had to escape from their predicament created by both governments is the CXC and CAPE exams, so how could many of the results be incomplete and NOT GRADED, kids who took 4 subjects only got results for 2, kids who got all As, got a Grade 6…then you send out your little yardfowl imps and pimps to lie in the media about the results….fix your shit…

    Sincerely,

    Wura

  16. john2 Avatar
    john2

    QE was instituted by the FEDERAL RESERVE under BUSH then OBAMA. The feds operate independently from the goverment.
    If i remember correctly, it involved dropping interest rates to “0” and was an economic stimulus completeld different from the bail outs.

  17. Wily Coyote Avatar
    Wily Coyote

    It has to be recognized Barbados has a MICKEY MOUSE CURRENCY, operates like a MICKEY MOUSE TURD WORLD country, is a SOVEREIGN FAILED STATE, so the political decisions follow the same MICKEY MOUSE PHILOSPHY.

    Barbados is a populace of PHOTO OP Governance followed up by major irrelevant GUM FLAPPING, has always been and will always be.

  18. peterlawrencethompson Avatar
    peterlawrencethompson

    @ Hal Austin September 23, 2020 7:23 AM
    “Nice to know you know top people.“
    ++++++++++
    Dr Persaud defended the program after I attacked it on Facebook. We have Facebook friends in common, but I am not socially well connected to the ruling elite.

  19. ks Avatar
    ks

    Since this administration plans to build a cruise ship terminal ‘in the north’ ie. St. Peter……. why not wait and name it after OSA instead of the Cave Hill campus???

  20. Dullard Avatar
    Dullard

    Dr Persaud defended the program after I attacked it on Facebook. We have Facebook friends in common, but I am not socially well connected to the ruling elite.

    When did Avi complete his doctorate? What was the thesis about?

  21. Pachamama Avatar
    Pachamama

    David
    This should fend off, for a moment, critics of your positions towards this administration.

    Why say anything about economy when its all bad and getting worse by the day.

    As we remarked weeks ago this guvment is seeking any and every distraction to avoid the economic reality.

    If a by-election can be had in St.George why not a general election about the failure to estimate problems.

  22. John A Avatar
    John A

    I have been asking for weeks when will we address the issue of the economy. I was told that would all come in the throne speech. Throne speech came and I heard about gay rights and a republic in detail, but droplets of information on economic reform with no clearly defined plan.

    Now in the press i see they are fears we will not reach our financial targets. No really! So we have done little to address the post covid economy, we have heard nothing on the great ideas from Sinkler and his committee on economic reform, yet we wonder why we will not reach our targets. Wunna for real?

  23. Pachamama Avatar
    Pachamama

    Dullard
    You are asking a question which we did many years ago. It will not be answered. The whores at uwi know the answer because this writer has certain knowledge that that institution earlier refused him there on that very basis.

  24. ks Avatar
    ks

    @Dullard

    Avi only studied and passed a first degree ie: Bachelor level …….. and was subsequently granted a honourary degree (Emeritus Professor) by Gresham College, London.

  25. John A Avatar
    John A

    As for the $300M in aid to the tourism sector being our salvation according to persaud, let me enlighten him there too about the real world and not LALA land where he and others live.

    The Uk is now entering a partial lockdown with Boris warning them that further tightening will come. France has already experienced new cases in September higher than what it was having in March. Much of Europe is in a situation where new covid cases are on the rise. Well dont even mention the USA cause they never got it under control there and still averaging 40,000 new cases a day.

    So lets pop cross to Canada now and see how many tourist we can expect from there. Well one airline has now suspended service based on lack of demand so that leaves air canada coming. If we have a look at Air Canadas load in October we will see that some days flights have as few as 25 people on them. If this continues look for a reduction in flights to once a week or one every other week. Yet this is the horse persaud and all them banking we recovery on!

    I said here after the throne speech half of that $300M should of been put in agriculture and alternatice energy projects. Wunna understand now why I said this?

  26. William Skinner Avatar
    William Skinner

    “ We must never reach that level to talk about $2.7 billion in reserves and so many poor people ……… worrying about no housing , no food, can’t feed their children, young men on the streets doing anything…..that is the environment we are in……
    Trevor Prescod , MP, BLP
    ( Barbados Today 9/23/2020)
    For those who don’t know Mr. Prescod , is a Barbadian who lives overseas and really knows nothing about what is going on in the country. He is also considered to be a political lightweight.

  27. Donna Avatar
    Donna

    That’s what I said as soon as the speech was over. The measures are the equivalent of patching a pothole, not building a new and improved road.

    I don’t think we have arrived at the momentous change in mindset that this experience should have brought into being.

    After the injection of the taxpayers’ money into the hotels, will it be business as usual when things are up and running again? What are the conditions under which this support will be provided? Should not the hotels be forced to recognise their social responsibilities and focus less on the strict bottom line?

    We the people will not pay taxes for them to reap 99% of the sweets!

  28. Donna Avatar
    Donna

    WURA,

    Is that really so about the CXC results? We have not yet checked.

  29. William Skinner Avatar
    William Skinner

    @ Donna
    “ We the people will not pay taxes for them to reap 99% of the sweets!“

    Sorry to inform you but we have already done that.

  30. David Avatar
    David

    @Artax

    Why make the recommendation public at this time? Allow the VC to consider the recommendation first.

  31. Donna Avatar
    Donna

    WURA,

    You are indeed correct. My son has been marked absent for two examinations for which we have the receipt.

  32. David Avatar
    David

    @Pacha

    Today it is DLPites, yesterday it was BLPites. Who will it be tomorrow?

  33. Dullard Avatar
    Dullard

    @ Pacha
    Interesting, though not surprising.

    @ks
    I have heard of this previously.

    The wider point is this. If I seek and exploit privilege based on an honorific title of no real academic weight; what else would I not use for personal gain and self-promotion? If I deal crookedly with $3 how can I be trusted with $ 300 million?

  34. Crusoe Avatar
    Crusoe

    @Dullard… yuh too right.

  35. Dullard Avatar
    Dullard

    @ John A
    The history or major pandemics has shown that the 2nd wave can be worse than the initial one. With low sero -prevalence in the order of 5% there is certainly scope for many more to persons to become infected.

    The Dullard is absolutely baffled as to why the Bdos policy makers think tourism will make a quick rebound. All the evidence is pointing to a miserable next several months óf grappling with CV19 over the winter flu season and the reintroduction of partial or full lockdowns.

    This translates to no return of mass travel. There is also the lingering possibility of at least one legacy airline going bust as they are all hanging on by the thinnest of financial threads.

  36. Hants Avatar
    Hants

    Unless Barbados has plans to create ” Convalesing Resorts and Hotels for tourist exposed to or infected with covid 19 the Tourism industry will stagnate indefinitely.

    Bajans already cutting and contriving while the politicians spinning the ” required optimism “.

    Vincent Codrington already mentioned the ” circular economy ” but you still needs more new sustainable industries and businesses .

    Anyone who reads the local newspapers knows Barbados is in an economic quagmire.

    Buh doan mine me. Let BU’s brightest share their wisdom.

  37. WURA-War-on-U Avatar
    WURA-War-on-U

    “You are indeed correct. My son has been marked absent for two examinations for which we have the receipt.”

    They will tell U that you have to pay $100 to dispute it. That’s what they are telling the kids who want their grades reviewed. Last person who did that, had completed university and already a mother when Ronald Jackass Jones confirmed the cockup 7 YEARS AFTER it happened with CAPE ….back in 2010.

  38. Mariposa Avatar
    Mariposa

    Govt boasting once again
    Welcome stamp brings in 1million dollars
    Hands long out in tourism industry
    Meanwhile small business in bridgetown collapse daily

  39. robert lucas Avatar
    robert lucas

    I came across this article in the “Daily Mail” UK. It is topical.

    Barbados’s move to drop the Queen as Head of State ‘is being driven by Chinese interference’, claims MP
    Tom Tugendhat said Beijing was playing large role in the island nation’s decision
    Barbados signed on to China’s ‘Belt and Road’ initiative in 2019, opening up trade
    CIA intelligence about Chinese activities in Barbados reportedly shared with UK
    By KUMAIL JAFFER FOR THE DAILY MAIL and JAMES GANT FOR MAILONLINE

    PUBLISHED: 00:46 BST, 23 September 2020 | UPDATED: 16:10 BST, 23 September 2020
    Pressure from China is driving the campaign for Barbados to become a republic, a Conservative MP has claimed.

    Tom Tugendhat, chairman of the foreign affairs committee, said Beijing was playing a large role in the island nation’s decision to remove the Queen as head of state.

    Barbados signed on to China’s ‘Belt and Road’ initiative in 2019, opening up trade between the two countries.

    Meanwhile CIA intelligence in the US about Chinese activities in Barbados has now reportedly been shared with Britain.
    Mr Tugendhat told the Times: ‘China has been using infrastructure investment and debt diplomacy as a means of control for a while and it’s coming closer to home for us.

    ‘British partners have long faced challenges from rivals seeking to undermine our alliance.

    ‘Today we’re seeing it in the Caribbean. Some islands seem to be close to swapping a symbolic Queen in Windsor for a real and demanding emperor in Beijing.’

    China has poured billions of dollars of investment into the Caribbean in recent years while signing tax and trade deals in an attempt to wrest the region out of the West’s sphere of influence and bring it under the sway of Beijing.

    The Chinese government has invested at least $7billion in six Caribbean nations since 2005, records complied by the American Enterprise Institute show – building roads, ports and the five-star Baha Mar casino and resort in the Bahamas.

    However, the true scale of Chinese investment in the region – which can often be opaque and funneled through private companies – is thought to be much higher.

    Meanwhile eight countries have signed on to Beijing’s Belt and Road initiative, including Jamaica, Barbados and Trinidad and Tobago.

    Agreements have been signed place to deepen trade ties along with building bridges and airports, an improving energy and telecommunications networks.

    China has been particularly generous with nations that have agreed to cut relations with Taiwan – a country in the East China Sea which Beijing claims as a province – and recognise the Communist Party as the supreme authority.

    In 2005, China rewarded Grenada, which has an annual GDP of just $1.8billion, with a brand new $55million cricket stadium after it cut relations with Taiwan.

    Similarly, in 2018, the Dominican Republic was lavished with Chinese investment thought to have topped $3billion after it also cut ties with Taipei.

    Barbados, meanwhile, is has received at least $490million, mostly as investment in the tourist sector, but is also thought to be benefiting from private deals.

    The country has established beneficial tax deals with Beijing in recent years in an attempt to make itself a hub for Chinese financial looking to invest in South America.

    In 2019, a permanent branch of Invest Barbados was established in Beijing to help attract this investment.

    Also last year, Barbados signed a Memorandum of Understanding with China, making it part of the country’s Belt and Road initiative – otherwise known as the new Silk Road.

    The agreement promises development of Barbados’s shipping, aviation, infrastructure and agriculture sectors.

    Barbados has maintained strong relations with Britain even after gaining independence in 1966, but last week announced it would become a republic in 2021.

    A speech written by Prime Minister Mia Mottley quoted the Caribbean island nation’s first premier Errol Barrow’s warning against ‘loitering on colonial premises’.

    Buckingham Palace has said Barbados’ intention to remove the Queen as head of state and become a republic is a ‘matter’ for the Caribbean nation.

    Reading the speech, Governor-General Dame Sandra Mason said: ‘The time has come to fully leave our colonial past behind. Barbadians want a Barbadian Head of State.
    ‘This is the ultimate statement of confidence in who we are and what we are capable of achieving.

    ‘Hence, Barbados will take the next logical step toward full sovereignty and become a Republic by the time we celebrate our 55th Anniversary of Independence.’

    Asked to comment on the Commonwealth country’s plans a palace spokesman said: ‘This is a matter for the government and people of Barbados.’
    Downing Street said it was a ‘decision for Barbados and the Government there’ but that Britain would continue to ‘enjoy a partnership’ with the Caribbean island nation as members of the Commonwealth.

    A Number 10 spokesman said: ‘We obviously have a shared history and remain united with Barbados in terms of history, culture and language, and we will continue to have and enjoy a partnership with them as members of the Commonwealth.’

    The country gained its independence from Britain in 1966, though the Queen remains its constitutional monarch.

    In 1998, a Barbados constitutional review commission recommended republican status, and in 2015 Prime Minister Freundel Stuart said ‘we have to move from a monarchical system to a republican form of government in the very near future’.
    Most Caribbean countries have kept formal links with the monarchy after achieving independence.

    Barbados would join Trinidad and Tobago, Dominica and Guyana if it proceeds with its plan to become a republic.

    Jamaica has also flagged such a transition, with Prime Minister Andrew Holness saying it is a priority of his government, but has yet to achieve it.

    Barbados took another step towards independence from the UK in 2003 when it replaced the London-based Judicial Committee of the Privy Council with the Caribbean Court of Justice, located in Trinidad and Tobago’s Port of Spain, as its final appeals court.

    Former Prime Minister Owen Arthur promoted the idea of a referendum on becoming a republic in 2005, however the vote was called off due to concerns raised by the Electoral and Boundaries Commission.

  40. Donna Avatar
    Donna

    The review is for grades that are being questioned and is returned if an error is deemed to have been made. I don’t see how they can make me pay when I have a two receipts that say present and they have marked him absent. That is not a review but an obvious error on their part.

    They should waive all review fees this year considering that errors seem to be widespread and many are struggling to put food on the table. Most people can’t even find a family member or friend with the money to lend.

  41. robert lucas Avatar
    robert lucas

    Barbados does not need China to aid it in its agriculture since UWI is available. Speaking as some one trained in the field.it is the usual thing about outsiders knowing more than local. Barbados seems to be very desperate but as I have said, the current PM is solely talk and does not seem to have any long term ideas apart from the same sex thing.

  42. Greene Avatar
    Greene

    @RL

    long time no hear man? how are you? what are your thoughts on that article?

  43. Donna Avatar
    Donna

    But we know US intelligence cannot be trusted, dont we? 😊

    At least that is what Trump has said. Are we now to believe American Intelligence – what Trump has consistently dismissed as hoax after hoax after hoax after hoax after hoax after hoax……..??????

  44. Artax Avatar
    Artax

    “Meanwhile small business in Bridgetown collapse daily.”

    Please explain how this is ‘government’s’ fault?

    Although I don’t agree with ‘government’ offering financial aid to the tourism industry in this post COVID-19 environment, especially under circumstances where the evidence indicates it is not set to recover anytime soon. But, I understand the reasons behind the gesture. Players in the industry should be encouraged to be a bit more proactive and innovative.

    What assistance ‘government’ should offer to “small business in Bridgetown,” so as to facilitate, for example, the upkeep of people buying clothes, shoes, curtains and clothe?

  45. WURA-War-on-U Avatar
    WURA-War-on-U

    Donna…people are very angry. Rightfully so. Their incompetence and arrogance is world class.

  46. Enuff Avatar
    Enuff

    Nearly every country in the world patching. All yuh could really hush and go plant some food. Talk and no solutions.

  47. David Avatar
    David

    Businesses are failing in Bridgetown because both transient and worker traffic has been diverted for years now.

  48. Donna Avatar
    Donna

    As for the British Intelligence – they have a “dossier” on us now? Tell Trump to stuff it where he put the Steele dossier!

    Why should they care if this “shit hole” country allows Chinese to shit here?

    Didn’t they more or less dump us after the Soviet threat was no more?

    Does this explain the recent talk about the revival of Caribbean Basin Initiative ?????

    Are we important again?????

  49. Donna Avatar
    Donna

    I am doing my part. Dem tell me to plant food. Food already being planted and reaped. More seedlings to be transplanted today.

    But I voted for them to find solutions. Is that not what we pay them for?

    I being obedient. I planting …. and watching.

    P.S. I see wuhnuh bragging about Peter’s idea. The ideas score seems to be (read in the old style of the BBC radio sports presenter of football scores)

    Barbados Underground Blog – One, Government of Barbados – Nil

    Oh dear!

  50. Enuff Avatar
    Enuff

    “Businesses are failing in Bridgetown because both transient and worker traffic has been diverted for years.”

    And this is why regeneration is necessary to create a Bridgetown that differentiates the city from its competitors. But one of BU’s scholars brought Jesus down off the cross to attempt to prove UR is not a public good.

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