Tag Archives: debt

White Oak and External Creditors: Flirting with Hobson’s Choice

  The blogmaster read the following article over night while perusing the financial newsfeed. Patriotic Barbadians that understand these matters are obviously concerned negotiations have stalled with external creditors. We have to go with communications being dropped in the public space. Commonsense support that it is not unusual creditors will push back against having to take a haircut. Barbadians wish

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Fault Lines: Life, Debt, Default and a Failure to Invest

The following blogs authored by a young Barbadian Economist Simon Naitram who is currently an assistant lecturer at the University of the West Indies while pursuing a PhD from the University of Glasgow (featured image: Simon Naitram) David, Barbados Underground Life, debt, and now default. Barbados has reached the final stage of its illness. This isn’t our sob story. This is

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The Grenville Philips Column – Crying Wolf

For those who have experienced several election cycles, it is tiring to hear career politicians alarming us that every General Election is critical to Barbados’ future.  It is now a standard claim that is used by all political parties to encourage people to vote.  However, the aftermath is the same. After the election results are announced, and the jubilation had

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The Grenville Phillips Column – Put Up or Shut Up

This is the most crucially important general election that we have ever had since our independence.  We are so much in debt that we are facing economic ruin.  If any successful political party fails to significantly improve the economy within their first year in Government, the majority of Barbadians will suffer unimaginable harm.  We are realistically looking at most of

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The Grenville Phillips Column – The Way of the One Trough

History can be studied from an infinite number of perspectives, and no historian can study them all.  I study history from several different perspectives, one being seeking patterns among nations.  There seems to be a model that former colonies do not appear to deviate from once they have been granted independence.  It currently comprises seven phases. Phase 1 is the

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Starving Billionaires

Submitted by Terence Blackett What Happens When An Unstoppable Force Meets An Immovable Object? Global Collapse Disorder & Destruction of the World’s Economic System “Sooner or later we will all have to sit down to a banquet of consequences.” – Robert Louis Stevenson Debt has been the wealth of the rich. David Korten warned us of “When Corporation Rule The

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Walter Blackman’s Perspective on Devaluation and ‘Printing Money’

As a result of the perilous state of the Barbados economy, accentuated by a recent 3 notch downgrade by Moody’s and a follow up visit in June by the IMF after a worrying Article IV Consultation in December 2013, the conversation about devaluation and management of government debt has become a topic of national interest. In the public’s interest BU

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About National Development

Submitted by Looking Glass Election promises in a commercial/services economy lead one to wonder about the island’s development. Among other things the BLP promised to reduce the cost of living, cheaper electricity, fuel, tax relief and put money in the people pocket. Government does not own and cannot control the private sector. Are you going to take over the electric

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Fallacy In Shoddy Robes

Submitted by Looking Glass Fallacious diagnoses, especially those made by the morally suspect, beget fallacious remedies. Some politicians laden with infirmities see them as natural, even noble qualities. Like a beast of burden laden with deficits of the past they shift the burden to the other side. And so Lord Arthur, cackling with malignant pomposity, tells the Conference the present

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Destroying A Decade Old Culture Of Debt Accumulation In Barbados

Submitted by The People’s Democratic Congress (PDC) The huge and burgeoning financial debt across the personal, private, public and social sectors of Barbados is the second biggest political financial problem facing the country at this stage ( The biggest is TAXATION). And, whether it is at the individual, household, organizational, institutional or governmental  levels, or  whether it is owed to

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The High Stakes Card Game

The BU family has discussed debt in earlier blogs, BU family Green Monkey member posted the video Money as Debt which presents the dark side about how debt is created and managed in the banking system. Another family member Looking Glass recently sent us the link to the video posted. What BU found interesting in the video was the reference

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The Barbados DEBT* Bubble: Is The Devaluation Of The Dollar Imminent? – Part I

Submitted by Terence Blackett Many of us deduce that smart, intellectual folks run our world, our country and our economic affairs. Our politicians are not “gods” as some would have us believe – though many claim “divine” authority on all matters pertaining to logic, the “real politique” and the fashioning (or lack thereof) of laws which are meant for our

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Economists And The Central Bank Report

Submitted by Looking Glass Given the plethora of utterances flooding the various media, if our survival depends on the understanding of the socio-economic dynamics of the country then we are in deep trouble. It would appear that we understand little about the country and less about how the real world spins. We appear to be lacking in ideas, have a

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