Sometimes the Right Path is Not the Easiest One

It is during times we are currently the blogmaster misses the contributions of late Pat Hoyos from the media space. The lack of financial literacy by the local fourth estate- especially at a time the economy is experiencing unprecedented stress- should be a concern to Barbadians. For more than two decades using the popular metric debt-to-gdp, it has been trending in the wrong direction made worse by the global recession of 2006.

Successive governments have taken decisions that will impact households for generations. It seems a no-brainer a country vested in educating its people with annual budgets north of $500,000.00 should be experiencing a greater return evidence by our ability to engage in more insightful debate about the financial affairs of state.

Insanity is doing the same thing over and over and expecting different results.

Attributed to Albert Einstein

What will it take to explain to the average educated Barbadian the bad outcomes that will result if we remain locked to consumption behaviours which translates to spending more than we are earning? Listen any day of the week to the usual ‘educated’ talking heads regurgitating tired narratives which confirms zero return on ROE (Return on Education). 

It was refreshing to listen recently to local talk show host Dr. Kristina Hinds pushing back on the tired narratives by offering the correct view that the pandemic is a game changer. The controversial fiscal policies implemented by the Mottley administration- at continuing great sacrifice to Barbadians- to chart a new path for the economy has been eroded. We need a new plan. Even IF the developed world agrees to some debt forgiveness or moratorium on loans, if we do not change our consumption patterns, we will be at this point down the road – unless we create opportunities to earn our way in the world that are sustainable.

The global recession of 2006 is known to have destroyed individual wealth and levelled havoc on the social landscape of Barbados. The pandemic has added weight to our problems. Local talking heads tossing about sterile unemployment numbers, offering glib commentary about the need to grow the economy, although relevant falls short of projecting a holistic view to reset the misplaced priorities of citizens. These expectations must be disrupted and recalibrated to current align with current reality.

The local economy was in distress long before the pandemic. It seems the Mottley administration with an eye on 2023 maybe doing the country a disservice by delaying the implementation of necessary policy measures in order to shore up popularity. Unfortunately this is the dysfunction caused by our culture of adversarial politics. We are in a dark place when the paramountcy of political parties take priority above national concerns.

For leaders in the country to be pushing pre Covid 19 talking points given the current state of affairs exposes a level of ignorance, incompetence, ‘indolence’ and dishonesty. On the present trajectory there is an inevitability to the outcome.

The time has come for the good of country for our leadership to take the people onboard by dispassionately distilling the issues at hand to inform the path with the highest probability of survival in the near term. The blogmaster appreciates there is no play book to select a best practice given the unprecedented nature of where we find ourselves. If we are to find the right path out of this mess, we will have to do it together.

108 comments

  • New buses but no room for enough Passengers

    Like

  • Pandemic Fears
    St. Lucia changes govt
    Barbados to become a Republic on Nov 30 the so says PM Mottley

    Like

  • Congratulations to St. Lucia’s newly elected prime minister, Phillip J.Pierre and the St. Lucia Labour Party.

    Like

  • “And for those who are asking, ‘what is all this?’, a nation that cannot define who it is,”

    yall need to come to terms with the fact that Barbados is still a slave society that yall maintain with Black people’s MONEY…you will NEVER define yourself unless the Black/African population can IDENTIFY with their TRUE AFRICAN HISTORY, ancestral education, customs and traditions…..everything else is a FRAUD playing into the hands of minority criminals to keep the thefts ongoing indefinitely..

    “or what we have done,”

    you kept the descendants of the enslaved under white trash minority rule of racism, apartheid, as SECOND CLASS CITIZENS in a country our ancestors BUILT and which they still fund through the descendants…for 60 YEARS…

    “or what we stand for and who we are as a people will never be able to secure its way on the journey; it will never be able to do so and,”

    you will get nowhwere unless the discriminatory framework of colonialism and the slave society concept are PERMANENTLY REMOVED along with ya slimy bottomfeeding, TIEFING racists, frauds and criminals in the minority community..

    “therefore, across all boundaries and sectors and classes and ages and races in this society we must in the next few months settle on those one or two pages that settle for us and the world what matters to us and what we are prepared to fight for as a people.”

    the WORLD MUST BE TOLD what yall, DBLP tag team, have done for 60 years post emancipation to the Black/African descendants…and STILL ARE…….the WHOLE TRUTH and NOTHING BUT…..it’s clean up time..

    Like

  • Donville to go to jail today
    Former Government minister Donville Inniss is expected to turn himself in to a United States federal prison today to begin his two-year sentence.
    Sources told the Weekend Nation that the 55-year-old will serve his time at a minimumsecurity camp or alternative facility near Tampa, Florida, where he has a home, or in Alabama.
    He has to surrender by 2 p.m. today and has already been assigned a prison register number – 70853-018 – by the Federal Bureau of Prisons.
    The former Minister of Industry and Commerce under the last Democratic Labour Party administration was found guilty in January 2020 and sentenced in April this year, by Judge Kiyo Matsumoto at the Eastern District Court of New York, on two counts of money laundering and one count of conspiracy to commit money laundering.
    The evidence revealed that in 2015 and 2016 Inniss took part in a scheme to launder into the United States approximately US$36 000 in bribes that he had received from high-level executives of the Insurance Corporation of Barbados Limited (ICBL).
    Two contracts
    In exchange for the bribes, Inniss leveraged his position as the Minister of Industry to enable ICBL to obtain two insurance contracts from the Barbados Government to insure over $100 million worth of Government property. To conceal the bribes, prosecutors added, he arranged to receive them
    through a US bank account in the name of his friend’s dental company, which had an address in Elmont, New York.
    Acting US Attorney Mark J. Lesko of the Eastern District of New York said after the sentencing: “In accepting bribes and laundering the payments through banks on Long Island, Inniss not only abused the public trust that was placed in him by the people of Barbados, he also stained the US banking system with the proceeds of his corrupt scheme. The defendant’s sentence today reflects the seriousness of his crimes.”
    In addition to the prison sentence, the court also ordered Inniss to pay US$36 536.73 in forfeiture. He will also spend two years of supervised probation.
    However, the former St James South Member of Parliament has appealed the sentence in the US Court of Appeals for the 2nd Circuit. (MB)

    Source: Nation

    Like

  • Donville is going to Club Fed…he may get a book deal out of it…

    if the CCJ REALLY knew what goes on in that shithole for a judiciary, they would do more than blast them, they woul bring in human rights bodies to SHUT THEM DOWN…

    “The Caribbean Court of Justice (CCJ) has taken Barbados to task again for “a cuss-out in a schoolyard” landing at its steps 12 years after the accused was charged.

    Earlier this month, the Trinidad-based court sent the case, involving Dottin’s Academy Incorporated versus Beverley Norville, back to the Barbados Court of Appeal, but not before once more chastising the country’s slow pace of dealing with legal matters.

    Norville was charged with six offences in 2009, including use of indecent language, causing a disturbance and threatening to burn down the private school after it removed her son without returning to her the $5 000 fee.

    Norville was convicted six years later in 2015, but never sentenced because she appealed and that case was heard in 2016 with a ruling four years later in 2020. The Court of Appeal, headed by then Chief Justice Sir Marston Gibson, found that Dottin’s Academy had no legal standing to bring charges against Norville. (MB)”

    Like

  • No surprise that a small colonial government is determined to practice marijuana slavery on African descents and ended up with nothing.

    “An Emancipation Day Letter to the PM. Reminder: Tomorrow morning Aug 1st, at 8am we gather for the annual Emancipation Day celebration at Bussa. The African Heritage Foundation (AHF) will be speaking on CULTURAL EMANCIPATION A FOCUS ON CANNABIS, and reading a letter addressed to the Prime Minister demanding that the African culture of consuming herbs for traditional medical use, that is greatly perpetuated by the Rastafari movement, be respected and recognized. As such the letter calls for all Barbadians to be granted legal access to the cannabis plant for spiritual, medicinal and economic purposes. The AHF is inviting you to come out and sign this letter. Emancipate yourselves from cultural slavery, none but ourselves can free our culture. Have no fear of wicked politicians for none of them can stop the time. Cultural Emancipation now! Please share and we will meet tomorrow by Bussa. Ras Simba Akoma.”

    Like

  • anyhoo…which is it, Donville was crying in the newpapers just months ago how broke he was, now we hear how “healthy” his bank accounts were…prior to his receiving $36,000 from ICBL that he can’t explain…outside of how “dah is how we do business in Barbados”…all the other crap is waste of space, someone had money to throw around posting nonsense….it’s amazing how these elite vote beggars get tied up with these questionable foreign types..

    “Evidence not challenged

    FBI agents testified that Inniss was desperate for monies to settle a debt with David Stier ($75,000) and to pay his son’s tuition bill at College in Tampa. Discovery material (emails) provided ample evidence as to why the loan of $75k was not settled earlier. Inniss was being blackmailed on matters regarding David Stier’s clients in Canada and Stier was advised that loan repayments were being tied to this issue being resolved as Inniss was not prepared to incur any legal expenses in Canada or elsewhere because of Stier’s clients.

    As at trial only 2k of the loan was settled in cash. The issue of availability of US $ was also raised in correspondence to Stier. None of this was addressed by defence counsel and the jury was left to infer that defendant was desperate for money. With respect to son’s college expenses, as a US citizen his son’s tuition was approximately $6k per annum. Not a large amount.

    The US Government sought copies of defendant’s bank statements from First Caribbean International Bank (FCIB) in Barbados for the period 2015-2017. Not sure if this information was formally presented by the bank. However, the defendant did voluntarily provide to defence counsel his bank statements from FCIB for the period of 2015 – 2016 which showed that at no point in time was the defendant facing financial hardships. Additional bank statements from other banks could have been provided to further evidence the defendants financial health. Instead, the jury was left to infer that defendant took monies because he was broke and facing financial hardships.”

    Like

Join in the discussion, you never know how expressing your view may make a difference.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s