Submitted by Beresford
The DLP don’t play when it comes to politics.
A new sinister play of party paramountcy, of DLP first and foremost above all else including country, and survival at all costs, sprung like an X-men monster as the central feature of the Government.
All talk of a new approach immediately dissipated on assuming power in a rash of self-serving moves and projects, from questionable and unlawful appointments of cronies to the awarding of contracts to the favoured few to the spinning of economic data and financial projections to create a false impression of security while exposing the country to a non-stop battering from self-inflicted wounds.
With the death of Thompson and Ministers running amok, the self-serving politics of the DLP just mushroomed. The many sent home with years of service against recent hires, the attempts to hire friends and family at places including the NCC, Transport Board and Central Bank, the awarding of contracts to much higher bids without any particular justification, David Thompson football are all evidence of the DLP tactical playbook.
Even so, hope was held out that the DLP would find a dose of true nationalism from somewhere and in Barbados’ celebration of its 50th year of Independence, forge a truly all-inclusive approach embracing political parties and institutions.
Why would anyone think the DLP would act otherwise than the facts of the past eight years? If it walks like a duck, quacks like a duck and looks like a duck – it is a duck.
In true DLP fashion, while Freundel managed to spout about a country as one, the Government has proceeded on a year-long celebration that is nothing more than a PR exercise in all things DLP and nothing and no one else. As if the DLP alone is responsible for the achievements of the country over 50 years of Independence.
The farce of national celebrations has been evident in everything from the hilarious sending out of invitations to Opposition members for the grand launch, which somehow could not find their intended recipients in time to the Government putting forth a programme that is nothing other than a propaganda exercise for the DLP.
Four or five nights of a screening of a movie on Errol Barrow? Paraphernalia that only highlights DLP achievements, some though dubious?
Where are the people, the institutions, the businesses that have worked together to build Barbados?
Why has it been left to various organisations to now, having been ignored in what was supposed to be a national approach, to put forward their own contributions to Barbados? The perfect opportunity for a national approach has been reduced to another tribal fight for relevant contributors to be a part of the process so that 50 years from now it would not appear to a new generation that only the DLP was at the development of Barbados. Which is clearly the intention.
Well, no. In fact, many will argue that the DLP has really not contributed that much to post-Independent Barbados. That contribution diminished sharply since 2008 and with the current Stuart incarnation is becoming less and less daily to the point of irrelevancy.
Politically, the BLP has been entrusted with the hopes of Barbadians for 24 of the 50 years of Government since 1966 – and those years have been spectacular.
Compared with DLP periods, particularly the latter Barrow years from 1973 – 76, those of the privileged pump and army of occupation; the Sandiford years of 1991-94, those of the 8 per cent cut and Government implosion; and those since 2008, of an entirely new, unrecognisable leadership and an inexhaustible list of questionable moves marked by an economy in shambles, crumbling social services and decay all over – compared with these, the BLP is stunningly arrayed.
Infrastructure projects that transcend generations – airport, seaport, highway networks, Bridgetown regeneration. Social programmes that transform generations – Plantation Tenantries Act, the work of the UDC and RDC, establishment of Women’s Bureau to advance women’s rights and the demarginalisation of children born out of wedlock. The maintenance of foundation programmes, particular health and education, through the network of polyclinics and expansion of education facilities including UWI that has touched generations. Until now. Economic management that has provided opportunities for generations – move to financial services, development of services sector focussed on tourism, 14 years of unprecedented growth that produced such investments as the new Sandy Lane, Hilton and Port St. Charles. Visionary leadership, universally hailed, typified by Tom Adams and Owen Arthur, such that Barbados was described as “punching above its weight”, that inspired and will continue to inspire generations.
It is a tragedy of paucity of vision and belief in only survival that the DLP cannot find the charity to celebrate 50 years of Independence as a unification exercise, highlighting the achievements of all rather than seeking to diminish the BLP’s stellar role in Barbados’ development.
The BLP will, however, not allow that to materialise. The unfortunate circumstances of DLP politics leave us no choice to reassert our decisive role in helping to shape Barbados.
It is shameful that taxpayers have to foot a more than $5 million bill for the DLP to sashay over citizens for a year especially in circumstances of excruciating suffering, broken promises, lost hope and the destructing of the twin pillars of health care and free education to university level by the Government.
This time, though, the DLP is fooling no one.
HAPPENING THIS SUNDAY MARCH 13, 2016
An Admission of Failure!
The Barbados Labour Party, (BLP), will present perspectives of Government Estimates, to be debated in the House of Assembly next week, under this topic on Sunday, March 13, 2016 at BLP headquarters, Roebuck Street.
Ryan Straughn, former President of the Barbados Economics Society, (BES), Economist Dr. Clyde Mascoll and Political Leader of the BLP, Mia Mottley will dissect the Estimates to show that, once again, the Government is way off base in its financial reporting and projections.
The forum, which begins at 5 PM, will be chaired by Member of Parliament for the City, Jeffrey Bostic.
133 responses to “Pure Political Play”
Thank You, Senor. Was doing some due diligence on Tor a while back so was pleasantly surprised to see you mention it above.
For an ‘old’ fellow close to Alvin’s vintage you very smart wid all dis ‘cumputer’ stuff. Gotta watch you more carefully. LOLL.
Marla Dukharan (see Sunday Sun back page) will soon be persona non grata in Barbados because she calls a spade a f—–g shovel and Sinkler doesn’t like it. This not the first time she has spoken out on the issue of our fiscal mismanagement. She is not “scaremongering”. she is saying what needs to be said. “Denial” Worrell knows she is right, but he is a creature of the minister of Finance. He doesn’t have the lee way to speak out that the governors of the Bank of England or of Canada or the US Fed have. This effort to raise money by selling bonds to the diaspora is a desperate act, and I think he must be sick at heart over having to maintain the pretence as he has done for the past several years. But he is trapped. He can’t change his tune now. The central bank could close down its PR department because no one any longer believes anything that it produces on Worrell’s behalf. Sinkler likes to downplay the impact of the national debt by claiming that two thirds is domestic. That’s like saying, “It’s okay, we have borrowed from the family so we can pay back the loan on our terms, if we pay it back at all.” Right now, about one third of the debt is held by the NIS. It would be interesting to know whether the government is meeting its responsibility to pay back, or whether it is actually in default. We’ll never know because NIS is one of the least transparent institutions on the island.
@ Sargeant March 13, 2016 at 4:39 PM
“If you want to shoot the messenger you are woefully off target.”
At least it got you to call the Guv a professional liar.
How can that man be held in high esteem in international banking circles when he is associated with the cleaning of dirty money from the CLICO scam.
Madame Lagarde was not wrong about the squealer of fibs whose printing press has run out of junk paper.
Quis custodiet ipsos custodes?
@ DPD
dat ent me.
dat is de granson from de bank.
You ent notice de difference in de writing and how he prolix and without too much emotion.
When he dun type, I does cum to de cuntputer and put me flair pun um.
All dem down deah talking and ting bout de Jamaican Elections and Holness and Portia and I heah wid de Ipad and calling he tuh help muh.
De madam axe he if it is possible fuh he to mek um only wuk from dawn tuh dusk so dat when de night come I wud leh she sleep and stop de lights in de bedroom at night
Dat young fellah bright and i wish I did got he unnerstanding en ting but as my nemesis heah tell me some time back “de ole man brain ossified and it is time to lay down and dead”
I feel she gots friends down below doah causing de udder day I was jes doing some light chores en whaplax lick up and jes recovering.
Me local doctor say me lucky en ting, Sis headley say dat she and de prayer warriors is who save me and com heah and give me a special hug in me armchair wid all she self in my face, good ting i was din able tuh get up, dem tings nuff tuh kill an ole man, even a young man!!
DPD, you does go church well if you want tuh get tuh hold some nice looking wumens and ting cum tuh *** whey every sundey you does have a embrace session or brotherly and sisterly love.
I does be watching dat new assistant pastor doah causing he holding dem young girls five seconds too long, AND he hands too low… how ole you is DPD?
Does the government realise that Marla Dukharan and her counterpart at the other financial institutions are integral to informing policy and the outlook at their respective institutions? Bear in mind earlier in the week minister Donville Inniss made a public statement that banks will have to come to the table in these difficult times and take on more risk. He must think he is talking to his children.
@ AC
“One can always tell when the BLP officially rings the campaign bell, they revert to Clyde Mascoll mouthings ..”
AC jackasses, Dr. Mascoll has a PhD in economics, Christopher Sinckler does not. So far, all of Dr. Mascoll’s predictions on the economy have come to pass, while Sinckler is YET to IMPLEMENT any economic policy that has gained some SEMBLANCE of SUCCESS or RESULTED in some form of ECONOMIC GROWTH.
And as such “reverting to (Christopher Sinckler’s) mouthings” will only result in consecutive CREDIT RATING DOWNGRADES and incoherent political rhetoric, as he desperately tries to explain his administration’s economic theory.
Sinckler was bragging about the Medium Term Development and Medium Term Fiscal Strategies only to be “shot down” by the Central Bank Governor, Dr. Worrell, who informed Barbadians that BOTH strategies FAILED to ACHIEVE the DESIRED OBJECTIVES.
As Heather has correctly stated on numerous occasions, Sinckler DOES NOT UNDERSTAND ECONOMIC THEORY, as is evidenced by his response to Bukharam’s assessment. He has been an ABYSMAL FAILURE as minister of finance and similarly to how Stuart will go down as being the worst prime minister in the history of Barbados, Sinckler will be chronicled as by far the WORST minister of finance, not only in Barbados, but in the entire world (and other places).
Sinckler said there will be an increase in government spending during the 2016-2017 financial year. How is government going to finance this expenditure, especially taking into consideration that tax revenue has been decreasing, while there is “snail pace” economic growth. The government cannot access loans on the international market because of the associated high interest rates, their reliance of NIS funds is unsustainable and if the Central Bank continues to print money to finance the deficit, this action results in an increase in inflation.
Inflation reduces the incentive to save since the value of savings is decreased. There is also a resulting change in prices and firms are discouraged from investing, which usually leads to lower economic growth.
In the current economic environment, government has two main options of raising revenue, increase taxes or borrow from household in the form of issuing bonds and treasury notes.
Recently, the Governor of the Central Bank, Dr. Worrell assumed “salesman status” by visiting the USA trying to solicit the purchase of bonds by Barbadians living in that country. This is an attempt to by the government to raise revenue to finance its 2016-2017 budget.
Investors will buy government bonds assuming they are a safe investment, but without taking into consideration any associated implications. If the Central Bank continues to print money to finance the national debt, there will be a corresponding increase in inflation and a reduction in the value of bonds. Under these circumstances, potential investors will not want to hold bonds until maturity and government would subsequently experience difficulty in selling these bonds. As a consequence, government would have to offer high interest rates to attract potential investors.
It is interesting to note that if more money is printed, the number of goods and services remain the same but excess money will be on the market. Consumers’ willingness to spend more money to acquire this limited supply of goods and services, which ultimately results in an increase of prices.
Quantitative easing comes to the fore.
Artax
I really love to read your analysis. Should have continued with economics after Ras wet my appetite at UWI with the way he explained first-year microeconomic theory. One thing I do know, though, is that printing money to assist the problem of debt does not increase economic output but positively affects inflation towards a negative growth-rise. It also signals the inability of the country to properly manage it economic matters with prudence and sensibility. This tells you that the pictures that Sinckler would paint of the economy and the optimistic growth rates the Central Bank Governor like to forecast from time to time are all smoke screens. The minister of Finance is playing trick or treat with the economy.
it is also sooooooooooo interesting to note that when the deficit was 12 percent the BLP antagonist was pressuring the govt to reduce the debt the govt implement policies some of which the fire starters was expounding that govt should do but to no avail the antagonist grumble and quarrel
It is also interesting that now the deficit has shrunk to 5 % the antagonist has revert to the ole and worn out political rhetoric of suggesting govt move on to proposal suggested by the international rating agency of devaluation
Like a broken record the antagonist never stops repeating to no avail
IS this the best suggestions that the antagonist have in the revitalization of the economy
Still waiting to hear of the opposition plans for strident and sustainable growth. More and more criticisms will not help the BLP to regain the reigns of govt
AC the economist….explain to me how a deficit can shrink by more than half if your debt keeps rising, how does that work….I am not an economist.
Well Well & Consequences March 14, 2016 at 7:42 AM #
“AC the economist….explain to me how a deficit can shrink by more than half if your debt keeps rising, how does that work….I am not an economist.”
@ WW&C
It does not make any sense arguing with the ACs because, as Georgie Porgie would say, they are ECONOMICS ILLITERATES.
Whoever brings suggestions to this administration are described as “PREACHERS of DOOM and GLOOM,” and as recent as last week, Sinckler said Marla Dukharan suggestions were “SPECULATIVE and SCARE MONGERING.”
To make matter worse, the DLP even rejected solutions from their own David Estwick, who publically admitted his administration’s economic policies were inadequate.
Estwick said he is a man of principles, yet when it comes to voting time in parliament, these attributes obviously become nonexistent since he always vote in favour of policy, even if he previously said it was wrong.
One wonders why the lack of interest in restructuring the debt?
Is it that a forensic audit has to be done on the books?
Estwick is a self-serving joke …Art, the true definition of self-serving and personifies that weakness.
They…DBLP… rejected any advice from 2008 which unequivocally stated that the worldwide economic meltdown, back then, would affect the island’s financial stability, they loudly contradicted by saying, no, no, no, cant happen….to every credit rating agency they took taxpayer’s money and paid for the advice.
So it’s no surprise that since they are not being told by world class economists what they want to hear, they will act contrary and when shit happens blame it on someone else…a disgraceful bunch of jackasses.
@vh
Vincent Haynes March 14, 2016 at 9:22 AM #
One wonders why the lack of interest in restructuring the debt?
Because it is hard when a significant portion is owed to yourself. And when you go to others to whom debt is owed, they will ask ‘what have you done to alter your expenditures’, and the answer will be ‘not very much’. For appreciate revenue earned is either going to debt repayment or something else.
Restructuring as proposed means restructuring the terms and/or seeking forgiveness for a portion. As soon as you approach this topic, the lenders wish a “say” in how you operate. As such you lose some decision making over your own affairs.
This loss, will kill the middle class, many of whom depend on a bulging civil service/NGO’s for employment.
@ AC
I is not an economist eider just someone wid a little reasoning capacity
You stated “… interesting to note that when the deficit was 12 percent the BLP antagonist was pressuring …” and then continue “…now the deficit has shrunk to 5 % the antagonist has revert to the ole…”
Both the BLP and the DLP are incompetents so please do not think that I am one of their choir boys.
The point however that I would wish to make is that when it was 12 per cent and they were also teifing for VECO and the rest of peoples the ratings of Barbados WERE NOT junk bond status!!
Your administration has cooked the books and purports that it is at 5% YET WE HAVE JUNK BONDS!!
@ Artaxerxes
Neither the DLP nor the BLP have any ability to think of, nor enable, the environment where private sector enterprise augmented by public sector resources can produce viable sectors of Forex generating activity.
The Black Belly Sheep.
It is de ole man unnerstanding dat de hide of the Black belly sheep is are de best hide, or among de best hide in de world!!
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The simple point that I submit for your consideration and that of all other readers is that “the fault is not in our stars, but in ourselves that we are underlings…” for we are a nation of people bereft of any vision who struggle with cattle as leaders.
Imagine providing a to-market strategy for commercialization of said sheep skin to Patrick Todd, that pretty Garner woman with an air head, Michael Lashes, the other shortme crutch Caesar and the list goes on.
I know that a few of you will say dat de ole man playing de man and not the ball but let us get serious here.
What have been the achievements of any of these men/women/inbetweeners?? A House of Parlaiment Bill to have the Honourable Members declare their sexuality?? a la Patrick Todd??
Brass bowls… atrue infestation of Brass Bowls.
And do not tell me about the party in waiting either.
Three hours of Live Broadcast yesterday bemoaning the yellow book estimated of the most incompetent government this cuntry has ever seen.
Bostic, Straughn, Mascoll, Mia relentlessly decrying what has been done by these notwits on a YouTube transmission and not one idea how to mek a change.
But that is the politics of Bajans, “wunna do dis and wunna do that, a littany of overspending by the DLP yet in his praise of Mia Mottley, Mascoll the same man who spoke of Mia’s infelicities with the Syrup contract when she Was Minister of Education, of the $236M US fiasco that was Edutech, of the overspend of the B.O.L.T contract for the new prison while she was Attorney General was the same man who uttered such sanctimonous praise yesterday while saying that “he cannot lie” because he mudder “bade he and 26 udder brothers and sisters” under a pipe.
And GOD did not strike the liar down.
Let us get serious please and examine in detail what WE THE EFFING PEOPLE WANT and DEMAND IT OF THE NEXT SET OF LEADERS!!
We cannot afford to vote for one female rabbit in our House of Parliament, not one!!
The Governor is on record disagreeing with the IMF about QA and borrowing from the NIS. In fact Senator Darcy Boyce is in record explaining that the government is the lender of last resort to the NIS therefore to access NIS funds to shore up the integrity of the economy because of the symbiotic nature of the relationship.
POPDRYR
de olm man sure has made a remarkable recover’
Bigger and better than ever.
@ PUDRYR
De ole man mekking nuff sense, yuh
So Mr Pieces, with that scalding assessment of Bowman what do you see as the motivation that drives a man like him who according to you came from the very humble environment: getting “bade” under a standpipe.
I presume that although he did not have any silver spoons at that boyhood home that like Nicholls he however had some serious ‘broughtupsy’…
And as I recall he was a supremely well-mannered gentleman on the soccer and cricket field.
So after being at the right hand of Thompson and now at the left hand of Mottley and having seen all that corruption up close and personal what drives this humble Deacons boy!
What drives his “sanctimonious praise” and changes this ‘decent’ man to be in your view such a ‘liar”…afflictions plaguing many others in lovely BIM.
David
Darcy Boyce has no credibility. The trail of money follows him no matter how well he tries to hide it. The governor of the Central Bank thinks that his title makes him all knowing and unchallenging, he is yet to explain how the arrangement came about that permitted Leroy 3.3 mil Parris to keep CLICO’s stolen money in the islands Central Bank. Where in anyone’s lil piece of common sense would see borrowing from the NIS life Line to be good financial management? There is nothing that these worthless worms can bring that would convince anyone except the paling hens and cocks that they are doing something right. I think what they are doing is called desperation, and it is what you do when you do not know what to do anymore. I got to give credit to this DLP though, they are the boldest and most open corrupt government to ever lead Barbados. And the thing is their strategy is base on this premise that the best place to hide something is in the open. In their case, they are keeping their corruption open believing that people would think it’s not corruption.
Darling sweet piece…I tempted to send you a picture of me. Very nice piece of writing sweetie..hhhhhh kiss kiss.
Tings bad in TriniLand
http://www.caribbean360.com/news/steel-giant-closes-doors-trinidad-employees-win-court-case#ixzz42o48yUzO
@ DD
A slight reprieve only…I have just been given a few more grains of sand in my hourglass..but those grains have been numbered
@ De Pedantic Dribbler
I would answer your question with a question, is what I said true?
Was there not a stink about the Syrup contract at the Ministry of Education, were there not imputations made regarding the IDB Edutech/Illuminat/Jose & Jose made, was not “born again” Clyde Mascoll among those who castigated Mia for these contracts with purported oddities?
“I am a murderer” like Saul of Tarsus before he became Paul and “I am a thief” like all the public servants ingovernment who take home 2 reams of paper every month so that their chilrun are is reading well, can get paper for their school projects.
I used to sin and I still sin BUT what all of us sanctimonious people need to do IS TO SHOW HOW WE HAVE CHANGED.
I dont really give a shyte about his abdication from the DLP throne and his ultimate appointment to the Ministry of Finance in 2018 as Straugn will be Minister of Economic Affairs, that is not my interest at all.
What I wish to point out among all of them is that not one of the effers, on either side, who harping bout independence and “making Barbados a place for you and me again” and the working poor, not a fella ent showing what them can do because (a) theirs is a fear that if their suggestions to the Party in Power work, while they, the BLP, are on the Opposition benches, de peeple may keep the other inept crew, the DLP, in in 2018 or (b) as I am more disposed to believe “they the BLP ARE EQUALLY CLUELESS!!”
I dont think that many of you are understanding this.
Every day, hours, minute second and heartbeat that we employ this strategy of inaction, brings our collective asses to the brim of devaluation.
Now as i have said become I ent no economist but I gine tief someting from de economist to mek my pint about what happens during devaluation to unemployment statistics.
“When there is a depreciation and the exchange rate goes down, the exports of a country will be cheaper and imports will become more expensive, e.g. a depreciation of the dollar makes US exports more competitive.
Therefore there will be an increase in exports and decrease in quantity of imports. Therefore, domestic firms will benefit from increased sales. This may lead to job creation and lower unemployment, especially in exporting industries.”
I gine axe you a few questions.
Who is de largest employer in Bulbados?
What does government export insofar and “exporting industries” is concerned?
In fact what are the “exporting industries” in Barbados? What do we export?
The immediate effect of devaluation s going to be mass unemployment and greated stress on our already faltering economy and companies gine send home more people to a bread line that is going to be much more expensive cause flour gine go up.
I is a stupid ole man who doan unnerstan much bout dese economic supply and emand theories but I unnerstan peeple cause I is a keen observes of isokinetics, I does see “variances” in peeple and whu I saying tuh all uh wunna is dat “by dere deeds ye shall know dem”
De Democratic Labour Party is going home but you see dem words by MIa yesterday bout how she keeping a low profile and ting, dat is very disconcerting to me because “Rome is burning and Fumbles is fiddling and Mia is playing second flute”
Sir i am glad that you are not an economist .although the deficit is a reflection of debt .there is what is called a cumulative effect not just solely the reduction of debt that is a priorty towards a higher rating .sir what you need to do is take a read of what influences are at within an economy which subjects a rating to a higher or lower grading.
The fact being that barbados economy needs to be driven by futher growth .enough to satisfy the rating agencies that the debt is manageable and can be controlled
So you see DE Drooler…when ya go straight for the jugular, everyone sits up and take notice, cause ya serious like a heart attack.
DBLP cannot devaluate the dollar, neither can they or they just refuse to restructure the economy.
So, oh dear what can the matter be.
What will they do.
Does Mia know what to do, but, even if…a big IF she does, she has so many corrupt business people who are parasites to the island and people, hanging off her backside, will she also hurt or help the economy.
PODRYR
I think we will have to agree to disagree on my “Let the Dollar float before the Island sink”
May I suggest that you mix some molasses with the sand in the hourglass, so the grains drop slowly.
As de gransun sounds like a chip off de ole block; so I hope you have he ready to follow in de ole foot steps.
@Pieces, no suggestion on my part that there were any falsehoods in your scalding assessment…all clear.
But obviously the conundrum is the enigmatic mysteries like the Clyde Mascolls…those with the broughtupsy and family values touted here previously but yet become so supplicant at the altar of political greed.
And then the other conundrums are the Grenvilles out there. Keen, intelligent and filled with broughtupsy but acting so clueless re elective politics.
But in truth the worst conundrums are the regular folks like me who got broughtupsy fah days and some sense but not the energy and go-to-it …beyond palaver to upend the other two!
A shameful cluster kamasutra circle!
AC…explain to me again YOUR LOW deficit v. Sinckler’s HIGH deficit…lol
“Debt battle
Added by Sandy Deane on March 14, 2016.
Saved under Local News
Finance Minister Chris Sinckler today conceded the island’s debt level remains unacceptable, though he insisted it was on the decline.
As he laid the 2016/2017 Estimates of Revenue and Expenditure, Sinckler said a true picture of the deficit was not be given due in part to the accrual system of accounting being used by the Government.
He estimated the deficit was just over three percent.
“But whether the deficit is four per cent, 4.2 per cent or three percent or whatever it is, the fact of the matter is our programme is working, that is the real point. Whether we report it at 4.2 or 3.2 per cent, it is going down and down each year”.
He however acknowledged that the Government was a long way off from correcting the problem, which has drawn the criticism of the International Monetary Fund and international rating agencies.
“The reality Sir, is that our deficit is still too high, we believe it is still a bit too high and our GDP growth is not high enough in order for us to see a downward movement in the debt that we have.”
@ac
you have all the buzz words.
When one is hell bent on borrowing from YOURSELF, who cares what the ratings agencies think?
Oh I see, they really want others to buy Bajan bonds and commercial paper, and the junk ratings forces them to increase the rate offered, plus makes the implied risk of junk status unattractive to most investors.
Gah back and tell your cohorts that GROWTH, something the Bajan economy hasn’t seen in years, isn’t happening anytime soon. It is delusional to think this way.
Rather the ratings agencies want to see that in the face of <1% growth, the public accounts can be controlled, to at the very least, balance the annual books.
It is no good Froon telling himself, we is an independent country, and nubuddy, especially dem white peeple from de IMF, gine tell we how to run our country. Wha dem know?
There is always a choice? Either you take the medecine now, or you will be forced to take it later?
Maybe the latter is better, cause then you can say “we en do nuffing wrong”, dem stupid people from abroad forcing we to do this shiite, it en we fault?
“Sir i am glad that you are not an economist .although the deficit is a reflection of debt .there is what is called a cumulative effect not just solely the reduction of debt that is a priorty towards a higher rating .sir what you need to do is take a read of what influences are at within an economy which subjects a rating to a higher or lower grading. The fact being that barbados economy needs to be driven by futher growth .enough to satisfy the rating agencies that the debt is manageable and can be controlled.”
@ WW&C and PUDRYR
You see why I tell wunnuh dat yuh don’t argue wid an ECONOMICS ILLITERATE? Read de above shiite and tell me iffen you understand wuh dem demons mean.
It seems that this particular AC is Chris Sinckler or they attended the same economics classes as Jester “Physical Deficit” Ince.
@WW&C
Finance Minister Chris Sinckler today conceded the island’s debt level remains unacceptable, though he insisted it was on the decline.
You unnerstand what is declining? The RATE of growth of the debt. Once you have an annual deficit your overall DEBT is increasing.
Please post at this link.
https://barbadosunderground.wordpress.com/2016/03/14/barbados-estimates-2016-2017/