Barbados’ future handicapped by a One Leg Economy

Indar Weir, Minister of Agriculture and Food Security

At least one minister in the Cabinet of Barbados gets it. Barbados will not or cannot support our standard of living given the traditional heavy reliance on tourism. 

Listen to Minister of Agriculture Indar Weir’s 2-minute side-burst from 1hr:12min of his presentation on the floor of the House (24/01/2023). As a member of Cabinet in a parliamentary system that is bound by the convention of collective responsibility, the cadence of Weir’s delivery suggests there is disagreement with his government’s approach.

28 thoughts on “Barbados’ future handicapped by a One Leg Economy

  1. What economy? Where has been this singular leg?

    Whether the slave economy, the agricultural economy, the tourism industry, the offshore mal-economy or the long-dead light industrial pretensión, the underlying philosophical construction was always the same.

    That ‘sameness of a sameness’ was always totally dependent on the vagaries externally dominant. There’s even a deeply held narrative justifying these emerging slavery formations.

    These same people who love these self delusional mouthing can never be expected to see their so-called democracy and a real economy as fellow travelers. That democracy is essentially about economy – not politics or the waste of time spent voting. And therefore, without economy, equitably shared, a democracy can never be said to exist.

    We also see the darling of Washington Consensus thinking, Mia Amor Mottley, in Argentina this week. Where the Argentines and Brazilians have a group of their citizens working on a regional currency to displace the USD. After calling for a committee to study emerging tectonic shifts, a fair conclusion is that the lie about everything the White people have given has won the race before the truth about a lived ‘radical transformation’ could have slipped on its shoes in Bullbadus.

    Well the Brazilians and the Argentines, and others, are seeking to end the economic slavery of Washington and the West. We are left to wonder how a so-called Bajan economy and its elected dictator will thread the needle of Western economic slavery and the freedom from such which the vast majority of the peoples of the world are intent on ditching. This is existential.

    A few things have long been clear. One, that Bajans, in spite of the republican nonsense, will be the last to leave that sinking ship of debt slavery which passes for economy. Two, as the quintessential chattel slaves, that pervasive dependence on mental capture avoids any timely escape.

    Those who support this direction of travel should be required to tell us what were/are the net benefits of having this one leg for these 70 years.

    Forgive any Spanish or Portuguese word imports that maybe.

  2. Even in the days of slavery, Barbados was never a one leg economy.

    Both Trade and Agriculture underpinned our economy.

    Trade was dominant, 9:1.

    We developed a third and fourth leg with tourism and manufacture which stabilized the stool on which we rest our bottoms.

    We added a fifth and sixth leg with construction and offshore companies.

    Money laundering and limited water will take out the fifth and sixth legs.

    Manufacture has more or less been killed.

    Tourism seems sound.

    Maybe tying the manufacturing sector to tourism would be a good idea.

    Trade needs to be investigated and agriculture needs to be reinvigorated.

  3. “A few things have long been clear. One, that Bajans, in spite of the republican nonsense, will be the last to leave that sinking ship of debt slavery which passes for economy. Two, as the quintessential chattel slaves, that pervasive dependence on mental capture avoids any timely escape.”

    That is really too bad for them…they have had the last decade of many many opportunities given to escape and instead, like true slaves, doubled down…not a fella who was watching will shed a tear.

    You know when ancestors show us the way for years and years and we reject it repeadly out of disrespect, malice and love of the evil dirty hands of politicians , they turn their backs eventually …cause they got better things to do…well hope they are now enjoying the view of the turned back. I am.

  4. How many copies were sold for
    “A Spectacular 21st Century Economic Collapse of the First Slave Society in the Caribbean During an Exodus to Our African Ancestral Land, While Battling Quislings.”
    it seems like the Author lost her mind a long time ago

  5. Let’s just say it’s popular and there is demand for the content…now you can drink champagne to that and celebrate for me…..i drank mine last December in celebration…damn fine champagne too….gotta go with crystal or dom next time…celebrate all the strides and progress that are happening… 2023…they are numerous and following one after the other…..some days the flags on both sites look like in front the UN building in NYC…i dont boast…..but since ya asked. Wouldnt have said a word if ya hadnt…cause it’s not about fame….or fortune..that i can put my hands on at any time…but none of that interests me…that’s for shallow, white damaged minds …

    To me it’s par for the course…i put in the work and enjoy the rewards…very much worth the effort and extremely satisfying doing something selfless, with no colonial stench attached…….now you know.

  6. Well I never thought I would live to see today! Do you remember when our economy was based on agriculture and manufacturing, with little emphasis on tourism? In other words our economy was diversified.Then the so-called economists and socialists opined that those industries were aligned to slavery, especially agriculture and so more emphasis was placed on making the quick buck from Tourism. Back in those days all the sugar factories were working, Grazettes and the Harbour Industrial sites were booming with activity, we had WIBISCO, National Bank, Husands Wrought Iron, Solar Dynamics (long before the term “climate change was coined)… and I could go on and on with how much we achieved out of practically nothing. Bajans were employed and because of our critical mass, the coffers of the NIS and Ithe Treasury were full. Back then we had our social programs in place with more than enough to spare.What has happened in the past 30 years that has brought a proud and hard working people like Bajans to this stage? Successive governments continue to borrow at alarming rates thus crushing the Barbadian spirit of innovation and creativity by inflicting the pain of exorbitant taxes on a bewildered people. I know the excuse will be made of the EU quotas and all other restrictions on our exports but that does not justify the poor financial state that we now find ourselves in. We have sold off almost all of the country’s assets, assets that I among other Bajans have worked our knuckles off in nation building only to see them sold to the highest bidder by so called governments who claim to care. I am not an economist but will continue to say that our governments have killed the entrepreneural spirit of Bajans. Give Bajans a tax break and as history has shown, they will rebuild their country bigger and better. Socialists and Marxists idealism do not have a place in this society. Put that in crappo pipe and smoke it, as de ole people use to say.

    • And the race continues between wages and inflation in a weak economy.

      Haynes gives take on cost of living and possible pay hike in public sector Gov’s caution on prices

      BARBADIANS MAY NOT get the cost of living ease they are craving this year and public sector workers may also have to do without a “substantial” pay increase.
      That is the assessment of Central Bank Governor Cleviston Haynes.
      With the prices compact and Government’s reduced value added tax on electricity bills scheduled to end next Tuesday, the day he demits office, Haynes said whether or not prices reduce over the next 12 months was a “tricky question”.
      This, he explained, would depend on how quickly international inflation continued to decline.
      But the economist cautioned that this might be insufficient to quickly reduce the cost of living in Barbados if another prices compact, or other types of relief offered by Government and the private sector, were not introduced.
      Reviewing the economy’s 2022 performance during a press conference at the Courtney Blackman Grande Salle yesterday, Haynes also warned that “the combined effect of higher primary surpluses,
      increased capital spending, and ongoing recapitalisation of the [National Insurance Scheme] would limit the scope for substantial salary increases over the short term”.
      Fuel import bill
      He was also concerned that Barbados’ fuel import bill reaching $1.1 billion last year, represented “a significant drain on our foreign exchange”.
      Haynes said in the economic review that the impact of the Russia-Ukraine conflict on food prices, higher international energy prices and ongoing supply chain disruptions raised domestic inflation as rising import prices filtered into the economy.
      “Foreign inflationary pressures eased in the second half of the year and with Government’s policy intervention on energy prices and its compact with the private sector on mark-ups on basic food items, the pace of price increases slowed,” he reported.
      “At November, prices were reported to be 8.5 per cent higher than for the corresponding period 12 months earlier.”
      The Governor explained that Barbadians benefiting from reduced prices was a tricky question “because we don’t know fully what is going to happen in terms of the pressures from abroad”.
      “We have to recognise that inflation in Barbados is impacted by several things, the primary one being the prices that we buy our goods from abroad. That impacts not only goods, but it also impacts services that we utilise,” he said.
      “So to the extent that the international prices are able to stabilise,…that will have a favourable impact on domestic prices. But that is a situation over which we have no guarantee, we are really living in what I would say is a very uncertain global economic environment.”
      Haynes said there is “a limit to what I think can be done domestically in order to be able to cushion the impact of those higher import prices”.
      He noted that high prices meant that Government’s revenues also increased and that if these elevated costs persisted this year then there would be some scope for a continuation of the relief the authorities offered in 2022 – including capping VAT on fuel prices and freight costs.
      However, Haynes said that if external inflationary pressures eased, but the prices compact or a similar arrangement was not re-introduced “it
      means you would not necessarily see the immediate benefits of the ease” in international prices.
      “So it’s a careful road that has to be navigated. And I believe that with the best will that we will be able to achieve that going forward,” he said.
      He also stressed the need to reduce the fuel import bill, not just for the financial and environmental benefits, but so that Barbados can enhance its overall competitiveness. (SC)

      Source: Nation

    • We spent 1.1 billion in oil imports the Governor reminds us – this continues to soak up borrowed foreign exchange – yet we see the sale of gas/diesel powered trucks for leisure continuing at pace. What can be more dichotomous? Bush Tea will say a people get what they deserve.

    • Bush Tea will say that Brass Bowls tend to attract shaving cream if not properly kept.
      In this regard, we have one big toilet!!

      One has to wonder about the so-called ‘university’ where the leaders bout here were ‘trained’.
      How the Hell can we have ‘built our foreign reserves over the past 6 years’? … by borrowing money that our grandchildren will smell HELL to repay?

      “Whom the gods would destroy they first make mad”

  7. Disregarding the rich bastards who are selfish by nature
    Third World Countries like Barbados will fail in the Capitalist system
    and should plan to live a good life without money

    If they want to blame socialism for their failure
    They should exercise daily like Indians and Chinese before Christ
    with various modalities such as pranayama yoga qigong tai chi
    to stay health and live without healthcare

  8. From Blues to Hip Hop
    Black people with no money make music
    youths reinvent their persona
    and become ghetto superstars

    • Doesn’t matter. The entire entity, save a few roles could be deleted, and nobody would notice.

    • Just heard heard an extract from today’s newscast of Dr. Yearwood giving the government a failing grade 1. Questioning the delay in projects being started and the economy growing at 1 plus % during BLP’s tenure. Are these projects private sector driven and is he reasonable to expect project startups during covid? As far as the Blogmaster is aware during the boom years Barbados grew at about 3%.

  9. You will get there. Still got those to the mean time…am off to bed. Those things take hours to get right.

  10. “Just heard heard an extract from today’s newscast of Dr. Yearwood giving the government a failing grade”

    Does Doctor Who read BU?

    “Thoughts reflect and affect our mood, our attitude and our general tenor.
    Thoughts are silent sounds. And sounds are electromagnetic vibrations.
    The more refined our thoughts, the more elevated our vibration; the more elevated our vibration, the closer we get to the highest vibration of all–our own divine nature. The entire universe was built on sound (WORD), which is nothing but vibration. By vibrating a certain combination of sounds, we are able to tune in to various levels of intelligence, or consciousness. Thus, chanting mantras is a conscious method of controlling our moods, and in turn, our frequency and resultant all-around radiance.”

  11. Any truth to the rumour that the new Central Bank Governor will come from Africa?

    Guess if we can’t get the economy to run we will need to bring in expertise from over and away.

    What would such a move presage?

  12. I smile when I hear people talking about business people needing to do more and stop asking for handouts. So let’s see how the drive for photovoltaic entrepreneurs has panned out.

    In the beginning came the tax incentives for persons to invest in these systems. Then came the caps on the size of the systems people could install. The message here being ” wunna can go for alternative energy just don’t go too far and rock the boat.” Then came the next nail in the coffin for the private producers, when just so the FTC reduced the rate the producer was getting paid by Emera.

    So that now has meant the main move to photovoltaic will be made by Emera. After going all round the bush we back to making sure the monopoly makes the money.

    So much for the state ” providing an enviroment for persons to invest in alternative energy.” LOL

  13. “Any truth to the rumour that the new Central Bank Governor will come from Africa?”

    That’s the talk about the place. For those who want to remain trapped, just stay in the shitstem, you are sure to go nowhere for another 3-400 years, just as you want it, but of course……there is more.

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