Many will agree the times we have to live have been and will always be uncertain, especially for small developing states (SIDs). Countries like Barbados- if economists are to be believed- will be vulnerable to economic shocks. To add to the vulnerabilities there is scientific consensus about the threat caused by global warming, predicted to translate to increasing drought, rise in temperatures and other negative events for SIDs.
Whatever the perspective held, there will never be full agreement on these kinds of matters. In the last 15 years or so Barbados has been lurching from one crisis to the other. In 2008 there was the global financial crisis which permanently hobbled the local economy and in 2019 the pandemic. Not to forget the other events that occurred in the in-between period.
Notwithstanding the risks small island developing states have to perpetually manage, it does not excuse the leadership of SIDs (including Barbados) to neglect the importance of intelligently devising fit for purpose strategies to sustain an acceptable quality of life for citizens. There was a time local governments strived to achieve a budget surplus, it shifted to a balanced budget to what is currently fashionable running deficits. All key economic indicators e.g. debt to GDP, rate of unemployment, inflation, consumer price index and others support the blogmaster’s view that the magnitude of today’s uncertainty is greater than in previous years.
If the blogmaster is correct, it means traditional decision making and approaches by the leadership of the country will not be relevant for the times. Leaders in government as well as NGOs have to agree to new governance models. Lurching from pillar to post to react to the latest crisis is not sustainable for SIDs. The Mottley government has been forging closer relationships with some African countries and Guyana in the region, a good initiative. Political parties, NGOs and others have to find ways to lure the best talent from the citizen pool to be able to expertly respond to growing uncertainty how we manage our affairs.
In the period 2015 to 2018 the proposed Cahill waste to energy 240 million plant was the topic of public discussion. Thankfully it was scrapped when the technology proved unstable as well as questionable agreement between the former government and Cahill Energy became public. However, the problem of Barbados efficiently processing waste remains unsolved. To give weight to the problem, sewage diverted from the street on the South coast of the island to the sea can be summarised as government kicking the can down the road. Reality check – there is no fiscal space given the perilous state of the Barbados economy to prioritise a comprehensive waste to energy solution. A reminder that in times of plenty one should be judicious.
It has been 15 years since the global financial crisis and instead of Barbadians seeing the advantage of agreeing to a sensible strategic approach, we continue to be divided on every important issue facing the country. The country needs to sign on to a holistic plan, one designed to plot the country’s success for the next 10 to 15 years. This is how good leadership is measured.
A word to the wise should be sufficient.
Well the feckless decision to pump sewage into the sea and the lack of a municipal waste system even four years since Cahill and the rise of the ‘Mottley revolution’ dovetail precisely with what the Europeans and Americans are doing viz. a viz the environment with the ramping back up of coal plants etc.
There is little doubt that this new century has not be kind to the Global South, particularly those following neoliberal capitalism as is the case for Barbados. Indeed, capitalism itself has always been the bane of our existence.
Yet there are the hopeful amongst us who assess that same miracle would happen. That things would have been better we’re it not for Russia. That the DLP alone takes the blame in driving this economy over the cliff. And more.
The underlying truism is that capitalism has always been unstable, subject to collapse after collapse, on the road to a total systemic failure.
Others still look to an FDR/Keynes cover up as they acted to save capitalism, like we’ve seen with the constant printing of money. Sometimes wrongly seen as a victory for social justice, FDR-Keynesianism, But as capitalism now eats democracy, as Varoufakis has contended, fascism run by dictators has re-emerged as comfort to fools..
Under this schema neither the climate nor human survival will be given prominence. Instead the quiet, moneyed, wickedly-great, madmen are empowered to seek a type of domination hitherto-fore housed in the recesses of such minds.
The only question yet to be answered is whether a military-Keynesianism, as the American continue to trot out in Ukraine, has any ability to inject life into a dying and perverse capitalism., as was the case previously. We suggest not!
@David, you speak in very sweeet terms with that mid-80s -90s conference consultant “bingo” speak : “a holistic plan” .
But quite clearly as you also sweetly noted we will continue to go from “pillar to post” simply because that is the very essence of elective politics!
I challenge you to identify any period since 1966 (or prior under Sir Grantley even) when our leaders did not STRIVE to implement their ‘wholistic’ or ‘holistic’ agendas or ‘manifestos’! That is never the problem.
But this over wrought term ‘holistic’ engenders a complete sense of collective harmony with everyone working steadfastly towards the greater good — can we say ‘namaste’ and execute a wholesome ‘ooomp’ of togetherness, here!😎 …. NO, well that’s the problem, brother… we all together , never can be encouraged to execute that important step!
I know you recall that a serious cadre of smart Bajans were not very ‘holistically’ embracing Barrow’s vision of independence and fought him from ‘pillar to post’ across the island and beyond arguing against it … so from then till now we can get into consultant speak mode with sweet sounding phrasing as much as we like but combative elective politics does NOT often allow much ‘holistic’ harmony … and it’s worst today, so unfortunately we will “continue to be divided on every important issue facing the country.”
I gone.
How many sign agreements have so far bear fruit for the masses
Yesterday display of PRmessages and photo ops via agrofest laced with long speeches means nothing unless tones sets are lead by leadership with vision
Surinam two years ago yesterday Guyana turn
Where did Africa show up yesterday in agrofest as a means towards transformation and goodwill
“The underlying truism is that capitalism has always been unstable, subject to collapse after collapse, on the road to a total systemic failure.”
don’t follow any of them into Armageddon, is the best course of action…all their echo chamber repetitious orating, can’t fix any of this, just jump ship and watch them all sail away into oblivion…right where they belong..
Barbados and the Philippines have decadence in common when it comes to electoral “democracy”
In the case of Barbados this is manifested by two 30- loves in a row.
In the case of The Philippines we have the farce of the son of the former brutal dictator Fernando Marcos and the daughter of last president Duterte, a gangster of some note, Sara Duterte, being elected as president and vice president respectively.
In addition, Akino, who became president after Marcos had killed her husband, having her own “yellow shirt” children deep within the legislative apparatus.
Yes, Amelda Marcos is back in the presidential palace with her tens of thousands of pairs of shoes.
Democracy, first as comedy then as farce!
Source: Nation
Source: Nation
Source: Nation
Adrian Greene
Has become an idiot. A man whose sole purpose in life is to serve the dictator. What utter ignorance. This has not been the Adrian Greene we thought we knew. For he no longer possesses his right mind.
Good articles from both contributors. I did read what Brancker said and I thought, “Signs and wonders!” A pity we’re a 2×3 island in the middle of the sea! Multinational corporations will never get that message.
It is true that capitalism is seriously flawed. Never had much use for it.
Will it collapse? How would I know? What will replace it? Will humankind have learnt lessons enough to forge a much better system?
I would love to hope, but I don’t think we are there yet.
I just read where the UN is asking us to do more for Haitians fleeing their country. I would love us to try to do SOMETHING, but what can we really do to make much of an impact?
Why don’t they ask France to return the billions they extorted??? Why don’t they ask the USA to atone for the political chaos to which they contributed????
Steupse and double steupse!
This world system, if you study it, SUCKS!
Question for our government –
Why de rasshole you don’t help Mr. Bynoe to get his business in order. Do you wish to keep the reusable rubbish here until until we are buried under it?
Next question –
Does the scrap metal get paid for in useless “Mickey Mouse” dollars or in the foreign exchange which YOU say we need to earn? (Doan bother! We know the answer.)
Uh nex’ nudder question –
Does it please you to add to our unemployment figures????
One las’ nex’ nudder question –
Will you be taking care of the needs of those whom you have thus rendered unemployed, along with their families?
Do someting, nuh!
@Pacha
It seems as if AG has taken a paragraph or two from you. It is true the he was very gentle in his description of Nicholas Brancker but he then tried to remedy this by commenting on the behavior of big businesses.
I was somewhat surprised to run across an article in BU (by you), that mentioned the word soccer…
–x–
TheO’s rating: A good article.
For some reason, the author tries to straddle fence and have both of his feet on one side at the same time. This leaves readers somewhat confused. Mr Green is reminded that no man can serve two masters
” the development of capitalism is inseparable from and dependent on the enslavement and exploitation of black people. Barbadian capital has mostly only protected its profit margins. Even if at the expense of the rest of the society.”
been warning Black people for YEARS…remove yourselves from this nasty slave system…
.slavery capitalism will go nowhere unless YOU ABANDON IT….don’t mind all the bullshit talk from greedy crooks who only live to count piles of money earned dishonestly through exploitation of Black people…..renaming criminality does not mask intent..
lessons and practices for growth never work until you already reached the point just before they happen and are ready for them to happen
I don’t serve two masters. I just try to be practical and realistic. Ideals are great as a goal to keep in our vision but they seldom materialise. Until we reach the point where more people come to understand what life is really supposed to be about, I work within the system we have.
Radicals scare off most people. They close their ears. Better to tone it down a notch and bring them along slowly.
I suspect that Adrian has learnt to temper his “guillotine” talk. He probably still thinks it in his head.
In the interest of self preservation the BSE needs to exert more influence on encouraging companies to remain localised. BSE also should mount an education program on stocks and shares in economic and social development If companies continue to move off shore there is no need for a local stock exchange.
What is our strategy for motivating local ownership? Spouting hot air on black empowerment and reparation? Putting unnecessary impediments in the paths of local entrepreneurs? It is the internal inconsistencies of these public statements that are at the root of our predicament. We talk without first reconsideration of the logical consequences. Ideas without a philosophical frame work.
We do need to change the mindset from criticizing for criticizing sake. Criticizing is an intermediate stage not an objective. We criticize in order to build a better system One without the other are exercises in futility. That is why we bounce from pillar to post. Please.stop perpetuating the nonsense that GoB has to be the motivator to economic transformation . Individuals are beneficiaries and they must contribute , time ,money and effort. GoB is not an ATM.The source of funds is the citizen/taxpayers.
Going to take a bit of VC’s post (not all) and treat it as my own.
This is quite general and could have been posted at any time or many times.
“We do need to change the mindset from criticizing for criticizing sake. Criticizing is an intermediate stage not an objective. We criticize in order to build a better system One without the other are exercises in futility. That is why we bounce from pillar to post.”
Sometimes I poke instead of criticizing and that is because I try to anticipate what the reaction will be. I like doing this, but it is silly. Today, I will try to stop.
We have a very intelligent group here. If we could put aside the personal attack we may do a little better.
Wait! The Barbados “Stock Exchange” is still a thing?
It is neither liquid enough, transparent enough, far less broad enough to be of much use.
A whopping 133 trades in Q1 of which 3 names accounted for 62%?
It is time to put the BSE out if it’s misery.
@ Dullard at 12:26 PM
No. It is time for a rescue. With all these glorious economic initiatives to West Africa and Guyana . , We can form companies and share the risks of these new ventures.
I tend to agree with Dullard. 133 transactions for 3 months averages to about one per day. There are not too many businesses that can survive with such a low volume of traffic.
I wonder how these brokers are making any money.
It is quite possible that VC is giving the watered down version of Dullard’s statement. This may be a situation where working as a regional group trumps being standing alone.
Investment houses in Barbados list brokerage services on the BSE as complementary to existing services offered. There is trading cross border and other services undertaken not directly related to local trades. The BSE also serves as an electronic repository for others instruments. We should avoid being narrow in our critiques.
@ Vincent
A stock market is not needed to take advantage of business opportunities in Bim or anywhere else.
It is not a panacea for entrepreneurship and ownership and is doomed to failure in an opaque and inefficient business climate like in Bdos. The BSE in its current form is simply not fit for purpose.
There are more straightforward and effective ways to promote business ownership and capitalise the types of small enterprises that we have in Bim. companies.
A “stock exchange” a la BSE is not required to do any of what you listed.
A problem is not solved by closing the entity being identified. If the plan is to harmonize regional markets there is a role with time for the BSE or whatever it transforms to.
If you say so boss. Good luck to yah.
In the regional context the Jamaica market is pick of the lot followed by TT.
That’s it.
For harmonisation all that is really needed is a solid digital architecture.
Put BSE of of it’s misery now!
“We have a very intelligent group here.”
Ramaphosa to appoint new team on black empowerment
South African President Cyril Ramaphosa says he will appoint a council this week to advise on a broad-based economic empowerment programme for black people.
He noted that while the empowerment programme that has been ongoing for 20 years has been significant, there has been “inadequate progress” in some areas.
“We have gone backwards when it comes to increasing black management control, upscaling skills development, entrenching enterprise development and broadening procurement to give opportunities to black women and the youth,” he said in his weekly letter to South Africans,.
He noted that at the end of the apartheid regime in 1994, black ownership of companies listed at the Johannesburg Stock Exchange “was less than 1%.”
“This figure has not improved much in the past 28 years,” he said.
He said more work was needed to address the challenges that businesses owned by black people face, including getting capital to start and expand their businesses, as well as finding markets for their products.
He also cited the challenges that black women especially encounter in taking on large-scale transactions.
“The continued exclusion of the black majority from the economy’s mainstream constrains economic growth, which ultimately impacts all.
Source: BBC, 30/05/2022
First trading in shares in City of London coffee shops was for slavery.
But, check out BBC (UK cunts) talking about Wall Street instead.
And, USA was an English Settlement (Jamestown 1607) hence English Language usage
https://www.bbc.co.uk/news/business-49476247
from pillar to post
from one place to another in an unceremonious or fruitless manner.
‘they were pushed from pillar to post from the moment they left their homes’
Dullard
You’re quite right. BSE was never a real market.
But we will prefer to fool ourselves instead of recognizing what is real and what is not.
Has BSE not had what, nearly 40 years to establish itself.
And if the distinctly Bajan companies which formed the backbone of economy are now owned by Trinidadian or Jamaican capital, why would we continue to seek a fool’s errand pretending local capital formation when the action is elsewhere.
But there a colossal opportunity.
The Chinese have savings of about 35 trillion which they can’t invest safely internationally, If Barbados has a mind to help them construct an alternative financial architecture, unencumbered by the ability of the Americans to steal their wealth, there is a massive opportunity for the any country so positioned. 😎
The charges for trading are egregious.
Int’l investors want dividends in an int’l currency.
The BSE needs to be folded into a Regional Exchange
@NO
What regional exchange?
Is a regional stick exchange achieved because of low trade volumes at BSE?
VIDEO: Revitalising Bridgetown from today’s Nation
https://youtu.be/wz9gb2GXSVA
All of JA, Guyana and T&T exchanges can benefit from wider exposure and decreased costs of a single exchange. The BSE tags along.
@NO
This is the point, regional exchanges are built on a vision (lack of) a working common market (CSME?).
Heavenly Circuits
Ital is Vital
There is a global market for growth that the Caribbean specialise in.
I will not say what it is as it is more Underground than Barbados Underground.
The Ritual
Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Nigga what? I’m complicated down to my strut Like the way I hold my gat flat on its side like a pug And I’m tickling the trigger make it laugh from its gut You would think I’m a comedian the way it erupts Nigga what? I represent the ashes and dust All that’s sittin’ up in ya chin that’s got ya stuck in a rut You can fire, hold your fire, son, I’m smokin’ you up You can whistle your desires even Buddha got snuffed Nigga now I’m standing on the corner of wow Exclamations pointed at me ’cause I’m gettin’ these nouns Got these kids inventing adjectives and gaining renown ’cause I am nigga, I am Nigga please, the earth, the air, the fire and the seas Third dimension, fourth dimension, fifth dimension with ease Oh, the chicken never thought I’ve got ya smokin’ them trees Ask your front door what my sawed off got you snortin’ them keys Nigga what? But I ain’t gonna knock open up When it’s time to meet your maker ain’t no changing the plot You’re an actor in the series nigga, I own the lot And I’m here to serve these royalties like gold in a pot Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Hey, ain’t no need to stop that Hey, ain’t no need to stop that Hey, ain’t no need to stop that Hey, ain’t no need God and pussy, objects of desire And ill repute some rather seek up high Than dig and grind that inner truth The angel of my eye A bit too fly to substitute With any other form than the Messiah’s black Mariah Mothership, grandmother moon and sea The wave and form of beauty born of Eden’s apple tree And every single Adam stands erect and prays to be The follower she offers sweet communion, holy union Let me see you run it just like that Move your hips from side to side Come forward, push it back Let me know firsthand the land of glory that I lack I surrender all to you if you surrender back Holy God where’d you learn to squeeze it tight and then Move it slow enough for me to question everything? You slowly start to tremble heaven’s walls begin to sing Tsunami ever after cosmic slop on everything Hey, ain’t no need to stop that Hey, ain’t no need to stop that Bitch nigga, gun trigger, dick’s bigger, why fuck? (Ain’t no need to stop that) Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace
Created
Freedom is the freedom to be free
Black + Breathing
This Is for You
One may position it however one wants, for the listing companies it is wider coverage, and hopefully decreased costs. As many learnt post the Massy exit from the BSE, the T&TSE is no pleasure to deal with.
And yes there is the issue of multiple currencies.
90% of the listed firms deal with that already.
@NO
Where do we go from here then?
The Missing Piece
Remember Her
Human
Foundation Training
Breathe
The short answer is nowhere for now.
GEL for example, has no interest in moving. As long as the old guard lives, and runs the show, they are happy with the status quo. It makes it difficult for foreign inheritors to unload the shares?
Twice in recent times they have repurchased large blocks as they came available. This is a form of ‘poison pill’.
None of the regional SE’s really perform the function of “raising funds”, again this sits well with ‘existing listers’.
For many are tightly held, and they are more concerned about control and dividends than share price. You saw what happened with BHL once the cat was outta the bag. It tripled in value.
@NO
A financial club one can label the SEs.
“You’re quite right. BSE was never a real market.
But we will prefer to fool ourselves instead of recognizing what is real and what is not.”
who in their right minds would invest their money with any of the small time crooks controlling these small entities,…there is a BIG WORLD OUT THERE….trap yaself on a tiny insular island with your investment, with a bunch of thieves at the head…. and you will GO NOWHERE..
David Bu
Stock exchanges raise new capital in its promotion and management of initial public offering of new shares for a new company. IPOs spread risks among hundreds of investors instead of one or two private investors. This is how risk averse small savers are encouraged to invest and take risks. Stock exchanges increase the liquidity of stocks and shares by providing the market for trading.. So the investor can cash in shares and bonds if there is an urgent need for cash. These are the roles which BSE should promote instead of the number of trades per day.
Fit for purpose means a BSE that serves a local ownership strategy of local private sector entities.
@Vincent
Do you see what you explained a realizable goal for Barbados?
@ David Bu
All things are realizeable if participants want to nurture them to reality. As usual the mixed messages are confusing the fundamental issues. Do you want to maintain and grow local ownership of companies within our geographical space? Or do you want us to lose ownership so that some commenters can have orgasmic experiences through daily complaining ,venting and ranting.
@Vincent
What you want is possible in theory, the way local financial markets are ‘controlled’ by a few creates a challenge.
@ David Bu at 9 :39 AM
Who are these oligopolies that control the local financial markets? What are these challenges that prevent free access and exits to all?
Most of my working life was spent applying theories and models to the real world. Why are you separating them? That is what scientific progress is about. No wonder when there are sea changes commenters behave like a dear caught in the glare of the headlights of an oncoming motor vehicle.