Dr. George Brathwaite

The Risk is Marginal: Go for it Mia!

Submitted by Dr. George C. Brathwaite
 Mia Mottley, Opposition Leader

Mia Mottley, Opposition Leader

Since the announcement by Barbados Labour Party (BLP) through the Leader of the Opposition to embark upon a strategy of bringing a ‘no-confidence’ motion against the ruling Democratic Labour Party (DLP), several cynics have questioned the decision and decried the move. One gathers from the critical statements made, and with the BLP holding a parliamentary minority, that Mia Mottley is heading for another ‘embarrassment’.

However, Mottley and the BLP members are resolute; and rightly so. They suggest that the motion of no-confidence is not simply about winning a vote. Rather, it is to ensure that the current and mounting issues which have been managing to burden Barbados and occupy much public apprehension (if the popular discourse is to be accepted), need to be highlighted and addressed.

Mottley asserted that: “This motion of no-confidence is not about having the parliamentary majority … but it is about bringing the facts to the people of the country because Barbadians deserve the right to be able to determine their future and their destiny on the basis of the facts available to them.” Is this not a fact?

Let us be clear. Since the DLP won the 2008 general election and having surprisingly repeated the feat in 2013 after being labelled by many to be the worst performing administration in the history of Barbados, two no-confidence motions brought by Mottley and the BLP had failed, being less impactful than the BLP would have desired. Mottley brought motions in 2009 over the CLICO collapse, and then again in 2013 over the DLP’s austere and tax-driven economic strategy that pushed thousands out of work.

Notwithstanding, the double defeats, nothing happened to strengthen the executive/legislative grip of the DLP, nor lessen the fortunes of the BLP – beyond the voluntary and forced departure of two members. The former BLP members whose alleged lack of commitment to rally around the present leader, became apparently irreversible given the self-protracted priorities of both over more conventional party rallying.

For Mia Mottley, the outcome of the previous two no-confidence motions helped to feed the bogus claim that she was in a ‘rush’ to become Prime Minister. Reflectively, the frenzied twist against Mottley – intensified by internal struggle – has caused some anxieties and dissent among those within the BLP’s membership and support.

The current doubt and scepticism on this latest move of no-confidence, perhaps shows that several BLPites do not fully understand that there are solid grounds for exposing a paltry government. Again, much political mileage is on offer for the BLP, including the opportunity to snatch political buoyancy and momentum in the public domain.

Mottley is contending that with the insidious silence of the DLP on so many matters of national concern, the Stuart-led DLP has become in all practicality a ‘government by stealth’. Mottley explained that “we cannot have a government by stealth, a government by rumour, and a government by anonymity. That all equates to no government at all … bred by a culture of silence which is unacceptable given the dire state of affairs in the country today.”

Surely, this is apt description of the DLP’s occupancy in government. The DLP charade puts Barbados realistically and reputedly in a perilous position. Mottley’s sentiments coincide with many things being said about the country’s executive at home and abroad.

Clearly, even the best leaders can be undermined by factors beyond their control, and this was likely the case for Mia Mottley on the two previous occasions when ‘no-confidence motions were carried (hardly a debate in the latter).

To the extent that all leaders, regardless of ability, fear suffering a future demise, will suggest that the strategy being employed by the BLP and Mottley for the third time, stands a far better chance of gaining widespread national backing, provided that the most crucial and damaging issues are effectively presented and debated.

Despite not achieving numerical success in the Lower House, the negative exposure will likely awaken Stuart to desperate remedial action. Also, the BLP’s trigger could draw demands from the public for general elections sooner rather than later.

Added to this tactical opening, has to be the assumption that ‘it is [incumbent] leaders who fear the future, not those who expect their fortunes to improve’. Mottley and the BLP have nothing to lose, but will have everything to gain.

In fact, this third no-confidence motion by the BLP will have the effect of solidifying in the minds of the electorate, that too often in the recent past, the DLP has been contemptuous in its dealings with the public. The DLP’s nonchalance towards public engagement, its abandonment of accountability and transparency, and its worsening penchant for consecutive bouts of economic failure are discomforting for most Barbadians, although tolerable for a die-hard minority of DLP surrogates.

The DLP has managed to prevail – aided by the perils and pathways to mutiny against Mottley – and by the political spectacle of distractions. Side-stream issues happen to greet the public on each occasion that Barbados appears to sink lower in both economy and society. Distractions, therefore, are the DLP’s most potent weapon. Do not be surprised if the propagandists in that party spin another diversion, once the no-confidence motion gains steam.

Traditionally, “governments care about performance since it affects their popularity and hence their ability to win the next election.” The BLP has to become more vocal and more synergised as it goes about exposing the incompetence of the DLP.

The BLP must in simple and clear terms show the impacts of the DLP’s economic failures, the non-existent economic growth, the depletion of foreign exchange, the rising debt by government to the NIS, the increased hardships that have brought the poor to their knees, and the growing incidence of disputes in industrial relations.

The BLP cannot afford to shield the DLP from public censure regarding the several claims of shady deals and possible corrupt practices likely to implicate more than one DLP Minister of Government.

Political theorists contend that: “Opposition parties can use their legislative forum to raise embarrassing questions in anticipation of the next election and may occasionally find procedural levers of influence.” For the sake of Barbados, one must hope that the BLP gets its strategy right, and take the people’s fight to a badly stumbling and fumbling DLP.

Hence, the BLP-Mottley risk is marginal when compared with the fact that the DLP and Barbados can continue to drift for another 22 months, operating as a government by stealth.

To that end, everyone should realise that “the actual legislative defeat and subsequent fall of a government on a no-confidence vote is, in practice, very rare in parliamentary democracies; just as an actual checkmate is very rare in a chess game played between grandmasters.”

Fortune favours the brave, Miss Mottley. Proceed with courage. At this juncture, most Barbadians will firmly support the BLP’s efforts. Answers have not been forthcoming from the dilly-dallying DLP.

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136 Comments on “The Risk is Marginal: Go for it Mia!”

  1. David April 14, 2016 at 5:04 AM #

    Has the date of the no confidence motion been announced?

    Like

  2. ac April 14, 2016 at 5:15 AM #

    a very interesting article in the Nation by Grenville Phillips where he places the blamed on the blp for our national debt

    Like

  3. Well Well & Consequences April 14, 2016 at 6:57 AM #

    That idiocy will ensure that no one will take Grenville seriously, the rot in the economy was a collective effort of BLP refusing to listen to the rating agencies in 2005 who told them to roll back heavy spending and debt accumulation, while telling the DBLP in 2008 to roll back spending and debt accumulation, which they both refused to listen to and DBLPs bad decisioning making re accumulating debt and bad spending since 2008-present.

    Obviously Grenville is not mature enough to back off the blame game and deal with the reality at hand or just assign the blame evenly and balanced as it should be, but what do you expect from people who are socialized to assign blame for everything……it’s always…. the other guy did it….steupss, not impressed.

    Like

  4. Sunshine Sunny Shine April 14, 2016 at 7:30 AM #

    WWC

    Are we not beyond the point finger lay the blame stage? The nonsense that the BLP did and the nonsense that DLP is doing is what brought us to this point. This is known. Grenville has to play back the recording responsible for where we at if he is to appeal favourably with Barbadians to give them his vote. What Granville needs to do more than anything else is to come with an approach different to the customary approaches of the Ds and Bs. Truth and honesty to start with coupled with a management strategy that stops the corruption. So far he has a few ideas that make sense and others that I am not so sure will set well with the public. For instance, his solution to guilty persons being heavily fine as oppose to jail time. WWC we need to move past this point.

    Like

  5. David April 14, 2016 at 8:05 AM #

    Anyone who read Grenville’s submission to the Nation newspaper with even a modicum of sense would have concluded he blames BOTH BLP and DLP for the state of the economy. In fact the submission is titled ‘BLP no better than DLP’ to support the point.

    JA

    Like

  6. ac April 14, 2016 at 8:17 AM #

    There would be no blame game if the loans were used in restructing and diversifying the economy.what we have here is a nation in a vice grip of a global down turn financial agreements which were previously signed have to be paid to become current.Ratings agencies working on behalf of these financial institutions becomjng aggressively strident and practicular in issuing downgrades with a hope that debted nations would be pursue measure to repay the debt at a faster pace.

    Like

  7. Sunshine Sunny Shine April 14, 2016 at 8:24 AM #

    David

    Is that not the customary practice of elective politics with a few pounds of insult and a quarter kilo of bedroom business to present the known bullies, bullers and those with a preference for fetish? After Granville provides the evidence to blame and castigate he has to present himself as better than all the rest. I hope he achieves this.

    Like

  8. pieceuhderockyeahright April 14, 2016 at 9:27 AM #

    Dear Sunshine,

    You said ” Truth and honesty to start with coupled with a management strategy that stops the corruption..” and I will add serious proactive programs to generate employment and jumpstart the economy in vibrant sustainable forex generating sectors.

    Granville is weak on pragmatic things which are a continuous stream of demerits to his initiative irrespective of the fact that his heart is in the right place .

    Sunshine. I once test drove a Lamborghini and it lived up to its reputation of 0-60 in less than 4 seconds. The force of acceleration is so great, it pins you to the seat (I test drove it, I did not buy it lol delusions of grandeure)

    The type of representatives and party that we need to engage at this deleterious point of our country’s economic woes HAS TO BE ABLE to accelerate from 0-60 rapidly insofar as putting programs in place that permit our people to move rapidly to a place where we are back up to speed

    The experience of The DLP and that of Mia Mottley when looked at dispassionately does not reflect what is needed and frankly as we look at Solutions Barbados what we are seeing is that same DNA.

    Let me give you an example of another “donkey cart” in the economic race of Formula One racing that is our world.

    The Barbados Entrepreneurs Foundation brain child of Dr Basil Springer aided by that Boos guy from the prestigious Ernst and Young. Recipient of $1million dollars from David Thompson in 2008, $$$ from which Jeremy Stephen, Economist Extraordinaire, the one who is belabouring the DLP now, benefited from.

    It has been around for years, has benefited from the largesse of the dead king, and now has reattached itself like a remora to Caribbean Export like a vampire, but only this time, in clear light of day.

    You understand what I am saying Sunshine? here we have “alpine goat parts” seeking and successfully attaching themselves to the lifeblood of organs that are themselves in the spotlight of national and regional issues as underperformers

    “Plus ca change, plus ca reste la meme…”

    But my darling, forgive that familial, but I am talking to a kindred spirit, what I most amazing is that we, a population of which we boast 98% literacy, accept this faeces wholeheartedly, WITH PEPPERSAUCE, probably imported cause we won’t use Windmill since that would mean supporting our own, we gobble it up as we swallow it with the cool aid or the Syrup that was ordered for the Schoolmeals department while the subject of this blog was the Hon. Minister of Education

    Sometimes, like Bush Tea, I believe that with the abundance of brass bowls, we bajans are truly screwed because you take a bankrupt man or woman, pay them $20,000 a month and they then turn around and put $5 million or 20 years salary in their mothers account and expect us brass bowls to vote for them again

    I sent my email to you via ***

    Like

  9. Sunshine Sunny Shine April 14, 2016 at 9:35 AM #

    @the intelligent AC

    What then were the loans used for? The rating agencies are not responsible for the problem of our national debt crisis when the former and current administration chose to ignore the warnings of the ever increasing debt when their borrow to spend excursions was more attractive than restructuring. However, an opportunity presented is an opportunity gain. The rating agencies are just following the script, and Barbados just fell nicely into it.

    Like

  10. ac April 14, 2016 at 9:49 AM #

    yes he did blame both govts but one would have to be a top of the class Ja not to draw from his analysis that the root cause of our debt was amplified by po
    a poor system of goverance holding fast to a fiscal belief of uncontrolled borrowing relying on low interest rates to fast track and build an economy without being prudent and putting emphasis on diversifying the economy.
    Now the chickens have come home to roost and what is being shown is a nation trying to find ways to pay down debt create growth and in avoidance of having to impose further painful measures on the populace.

    Like

  11. Sunshine Sunny Shine April 14, 2016 at 9:52 AM #

    My sweet piece

    True to every word, and the thing is if we do not highlight these little indiscrepancies that have worked so well for those who operate in cloak but present themselves in goat, then the silly electorate will simply continue the cycle of changing one type of excrement for the next.

    I have several email addresses my sweets. Let me which one of them you sent it too. Maybe my fathers probably. Like you, he warn me to be careful.

    Like

  12. Well Well & Consequences April 14, 2016 at 10:34 AM #

    AC…you dont get tired of telling lies, even serial killers take a break.

    SSS…that is all we can hope for re Grenville and his new party.

    Like

  13. Well Well & Consequences April 14, 2016 at 11:09 AM #

    Yo Piece….all the right word are neing said here.

    Well Well & Consequences April 14, 2016 at 6:39 AM #
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  14. ac April 14, 2016 at 12:46 PM #

    @WW&C
    Prove ac a liar and point me in the direction as to where or when the economy was restructed and diversified under the past administration
    As of present Barbados is still trying to catch up with technology which were designed to achieve a better and faster servicing methods of communication globally
    Furthermore renewable and sustainable energy programs not fully implemented while other nations have made satisfactory gains and efforts
    A water system old and outdated now being repaired
    after many years of decay and neglect
    Educational system not fully equipped with models or standards that is competitive with a globally enviroment wherby those who graduate have the full skills and knoweldge that can be geared and beneficial to building an economy
    So point me in that direction where all of which i stated has happened in the past

    Like

  15. ac April 14, 2016 at 12:54 PM #

    Now most are clamouring to go back to those dsys of decadence and self interest.forgetting that where we are at present is because of an unbridled culture who refused to prepare and plan for a rainy day

    Like

  16. Well Well & Consequences April 14, 2016 at 1:00 PM #

    Prove you a liar, why should I, you prove it everyday….and which rainy day is DBLP preparing for…..

    Like

  17. ac April 14, 2016 at 2:17 PM #

    The truth is u cant blasted answer u hypocrite as there is no evidence that bears proof that the barbados economy was well diversified and fully structured to withstand the negative forces of the global meltdown under the blp.
    Your question now being asked of me to show proof that is govt is embarking on restructing and diversifying the economy is one that begins with the actions that the opposition has taken to opposing tge govt projects that in long term would enhance and sustain the economy like WTE

    Like

  18. Well Well & Consequences April 14, 2016 at 2:42 PM #

    Why do I need to answer you AC, do I owe you something, once you post a lie on here, it’s on here forever and can easily be retrieved, do you remember your trip to St. Lucia when you never left Barbados and that was just one lie, but not even an important lie…

    What I want you and PM Stuart to tell the people who pay his and your yardfowl salary is, what rainy days is the government preparing for, the people deserve that answer.

    Like

  19. David April 14, 2016 at 2:57 PM #

    Those with the brain with the size of pin head should read the following link. It should be clear what Grenville is saying, except to the yardfowl.

    http://www.nationnews.com/nationnews/news/80076/blp-dlp

    Like

  20. ac April 14, 2016 at 3:14 PM #

    Hold your horses very persumptouos of you or any one to know my daily whereabouts as you have bodly illustrated your ignorance of in your above comment
    The second half of your comment is equally as preposterous as the first
    Have a nice day

    Like

  21. ac April 14, 2016 at 3:19 PM #

    Whats it with you David you can interpret the article any way you want and so are others entitled to do the same.in any case Grenville made relevant points verifiable by what is factual that the blp made obsessive loans with little regard of negative factors that can affect the economy

    Like

  22. David April 14, 2016 at 3:37 PM #

    Here is an excerpt from the article:

    “By the measure of risk to repaying our loan obligations, crossing the safety of the 40 per cent GDP debt limit to over 90 per cent, and more than doubling the national debt from $4.3 billion to $9.2 billion, must rank the previous administration as our worst. The current administration is behaving as if that is an enviable position to pursue – See more at: http://www.nationnews.com/nationnews/news/80076/blp-dlp#sthash.xbvsV9A0.dpuf

    Like

  23. Well Well & Consequences April 14, 2016 at 3:52 PM #

    It would be funny if not so disastrous, trying to outspend and out borrow the BLP, useless bunch of politicians.

    Like

  24. Well Well & Consequences April 14, 2016 at 3:56 PM #

    ……….And yardfowls.

    Like

  25. NorthernObserver April 14, 2016 at 5:03 PM #

    and you get vex with me when I stir her pot LOL

    Like

  26. Artax April 14, 2016 at 5:37 PM #

    “There would be no blame game if the LOANS were USED in RESTRUCTURING and DIVERSIFYING the economy.”

    Hahahahahaha….

    Perhaps the “Physical Deficit” Ince AC wrote that.

    Like

  27. ac April 14, 2016 at 5:45 PM #

    borrowing ! Borrowing! Is not the bogey man as some would want all to belief. The problem arises when the money is spent unwisely and when an individual borrows having no substantial way to repay.
    However’However individuals who have surpassed their inability to pay can rely on different options by pursuing a variety of avenues that many loan institutions have available for repayment
    Now I take note of Greenville chastigation of the present govt pursuing a similar path.However there are pivotal factors which must and should be brought into the making which should be addressed with a thorough and perfect analysis before making a generalise conclusion
    The facts being long term debt could be a most likely and probable cause that needs to be address. Creating an environment for stability with an intent for creating jobs which means having to borrow out of necessity which most economist terms as good debt.The kind of debt that provides a safety net for an economy with policies that are implemented to ensure a visible and profitable return of financial and social benefits for the economic
    The bottom line being and very well articulated in the article is that within a positive economic environment the blp failed miserably in securing the financial well being of the nation
    May I add heavy borrowing placed against and relying on a one sector to pull the weight..plus low taxes a balloned public sector wage billl ..Having no systematic model for being visionaries in restructing has eventually put Barbados in a vice grip of economic failures which might take many years to pull itself from

    Like

  28. Artax April 14, 2016 at 5:57 PM #

    Now, that is definitely the Physical Deficit Ince AC……

    Like

  29. are-we-there-yet April 14, 2016 at 6:33 PM #

    Artax;

    Grenville Phillips wrote:

    “It should be noted that while the 2009 Moody’s downgrade occurred during the current DLP administration, Moody’s blamed the downgrade on the recklessnessof the previous decade, which started when the BLP crossed the debt ceiling of 60 per cent GDP, which the IMF recommended as the limit for advanced economies like Germany. But we wanted to “punch above our weight”, and used the deficit financing option irresponsibly.

    By the measure of risk to repaying our loan obligations, crossing the safety of the 40 per cent GDP debt limit to over 90 per cent, and more than doubling the national debt from $4.3 billion to $9.2 billion, must rank the previous administration as our worst. The current administration is behaving as if that is an enviable position to pursue. – GRENVILLE PHILLIPS II

    Did Grenville get his stats right?

    Over what time period did the BLP grow the % debt from 40% to over 90% and the national debt from $4.3 billion to $9.2 billion? What was the debt profile at the beginning of 2008 as compared with what it is today today?

    Like

  30. ac April 14, 2016 at 7:01 PM #

    i also challenge you Artax to show evidence that the BLP in good economictimmes pursue a path to restructure and diversify Barbados economy

    Like

  31. Well Well & Consequences April 14, 2016 at 7:14 PM #

    So what would we call the status of the current debt AC…..good debt or bad debt.

    Like

  32. ac April 14, 2016 at 7:36 PM #

    worthless debt in light of the fact that there is nothing of significant use that barbados could have relied on in hard economic times that being the debt which was accumulated by the past blp administration

    Like

  33. NorthernObserver April 14, 2016 at 7:49 PM #

    Creating an environment for stability with an intent for creating jobs which means having to borrow out of necessity which most economist terms as good debt. The kind of debt that provides a safety net for an economy with policies that are implemented to ensure a visible and profitable return of financial and social benefits for the economic

    You see INTENT and NECESSITY are the foundations of good debt. It must provide a safety net for the economy, the returns must be visible and profitable, measured both financially and socially.

    Interpretation? You can borrow whatever you want because there will always a way to explain INTENT and social profitability. It is just unfortunate those f(&^g idiots at Moody’s, the IMF, and the World Bank find such pivotal and visible measures as nice, but generally immaterial.

    Like

  34. David April 14, 2016 at 7:55 PM #

    Some of us are really tired of yardfowl clucking about blame D this or B that. It is why there is so much talk about a third party. People are fed up!

    Like

  35. Well Well & Consequences April 14, 2016 at 8:22 PM #

    AC….again I remind you, Fruendel had 8 years to make the economy better, but it keeps getting worse. how many more years will he need to get the economy right, what can he do to make the economy better in 28 years if he cant do it in 8 years….with Sinckler, MOF

    How will Fruendel turn worthless debt, I am including what was borrowed in the last 8 years, into good debt.

    Like

  36. ac April 14, 2016 at 8:29 PM #

    unless one has a presence of mind persuaded by political interference the absence of past policies would be a self interest negotiating tool to remove the blame Blame however is a nonnegotiable tool which dissect and cuts into the root and causes of the problem taking away the minus and replacing with the plus

    Like

  37. are-we-there-yet April 14, 2016 at 9:01 PM #

    Here’s a graph from a UWI agency based on BCM figures on debt/GDP between 2000 to 2011. Seems like the figures suggest a totally different story to Grenville Phillips II’s take.

    I would be grateful if Artax or some other Financial wiz would rationalize the differing data and extrapolations that we are getting.

    Like

  38. NorthernObserver April 14, 2016 at 9:01 PM #

    the policies are clear and well explained by people who have morals and ethics Ethics by themselves are useless for they infer superiority and you have to be of the people to appreciate the great benefit which is why the people are happy and contented and happiness is immeasurable unless you can measure which is why rum is sold that way in the shops it is an issue of social profitability

    Like

  39. NorthernObserver April 14, 2016 at 9:12 PM #

    Skippa I en nah wiz, but as I en had no rum yet, lemme try.
    Since BOTH are measured against the same number, GDP, it is really brekking out the money Bim borrows from local sources to those it borrows from foreign sources.
    It says that while TOTAL borrowing is increasing, the money borrowed from local sources is increasing at a faster rate than that borrowed from foreign sources.
    Effin you add them together you get TOTAL debt to GDP. So it rose from 20+40=60% in 2006 to +/- 25+73=98% of GDP by 2011.

    Like

  40. NorthernObserver April 14, 2016 at 9:17 PM #

    effin you would like more current number I posted this elsewhere earlier

    sine that graph stopped in 2011, you will not that domestic borrwing has taken off like a rocket from Cape canaveral

    https://i.imgur.com/KxoxWmMl.png?1

    Like

  41. Gabriel April 14, 2016 at 9:29 PM #

    Furthermore,debt in and of itself is not to be criticized unless you cannot see what the return is on your investment in debt.The BLP incurred debt in the rebuilding of the prison( the Dems would have us believe that this country dependent on tourism should not have spent a cent to secure its citizens or its tourist market),in expanding the ABC highway and in rebuilding Kensington and its environs for World Cup cricket.All investments in the future well being of the country.If you would believe the likes of Worrell who put on his political hat in 07 to decry the burden of the debt repayment of the prison loan,and if you would hear the moaning of the MoF and the junior MoF you would believe the BLP was the worse party when it came to advancing Barbados.This DLP that is borrowing and has nothing but tales of woe to show for all the debt we are in.

    Like

  42. are-we-there-yet April 14, 2016 at 10:34 PM #

    Artax;

    What I’m trying to get at is the following:-

    Is Granville Phillips II, in the excerpts quoted above by David and myself, operating like a true-true politician?

    Is he presenting arguments that are true?
    Is his analysis somewhat flawed?
    Does he understand the concept and use of the debt to GDP statistics?
    Can he read and understand the graph I posted above and the one that NorthernObserver posted at 9:17 pm? …. and if he does, does it imply that he is no different, re obfuscation and trickery than the ordinary DLP or BLP politician?

    I think the BU family needs one of your detailed economic posts to explore more fully the truth of the statistics and analysis which he proffered to the public of Barbados to show himself and his party to be a credible new dispensation for liberating Barbados from the toxic hold of the BLP and DLP.

    Like

  43. pieceuhderockyeahright April 14, 2016 at 11:58 PM #

    @ Are We There Yet

    “I’ll be your Huckleberry” and answer your interesting questions

    Your questions are very important since they shed some light on the nature of the man as either being (a) incapable of understanding the economics behind the graphs and, in being incapable, then bluffing his way through them OR (b) purposely lying.

    Either which way we are in deep badword, badword (those words will get me banned.)

    Here is how I try to solve these things AWTY. “I use the picture of Jesus on the back of the sheet”

    You do know that one? with the little girl that was in the room when her father, a forensic expert, had tried and failed to piece together a sheet of newspaper from a crime scene?

    The sheet was all torn up since the suspected murderer had ripped up said newspaper to hide where the victim had written his name before they died. Hollywood complexity for you.

    The father left the room for a little while and It would appear that the side that the father was using was really complex for the assembly but to other side of the sheet has a picture of Jesus.

    The little girl stuck Jesus back together. and Whaplax.

    I spent some time looking at the presentation that Granville II made at Cawmere a few weeks? ago.

    Go back to that document that was posted and count the number of pages that were devoted to economics theories among which this Caaa2 bond rating matter featured highly.

    Do a count on how many slides were devoted to economics and what were devoted to real solutions?

    So, if we are to assume that Granville spoke about each of the slides at his presentation, either he Granville was “the victim of Ventriloquism” at the Cawmere outing or, what was up on the presentation, was material that he was “prompted with” by a third party and, like the same politicians that he is accusing of mamby pamby economics, HE TOO IS GUILTY OF THAT SIN!!

    One would not expect him to come back and say, “this is not my area of expertise” or that “i was fudging it”, NO, for that is his linchpin now. He is an expert in all these things for Solutions Barbados.

    And, to do so would show him to be even more incompetent that 007 Sinkliar, Minister of Fine Ants, whom Caswell reliably informs us failed Soc Sci and got a Let my People Go degree like Patrick Todd is supposed to have.

    Now, having made that preliminary remark regarding “Granville’s economics expertise” let me put this puzzle together with “the picture on the back of the paper”.

    I want you to read what Granville asserts regarding his customary training of persons in business skills. Tell me if I am wrong but does he not state that such is effected AS A GRATUITOUS PRACTICE??

    Having read that item there is a third detail which is even more disconcerting rather it is an “inconsistency”

    Do you not that there is a pledge by Webly? Institute to give “one day per week of services to train entrepreneurs and all that blarney?’

    Did you examine the site behind the offer and who were the principals of said institute?

    There are 3 names listed there on the site and yes, you guessed it, Granville is one.

    Why go to such lengths to suggest that this is a “third party offer” from a credible institution with an american sounding name, one which has attuned itself to Granville’s vision and is prepared to give support to Bajan Entrepreneurs for one day a week?

    Tell me if your readings of the site not suggest that this is “your institute” or at least “an entity where you are part of the 3 person team?”

    A minor detail. Check if there are any prices given, for any of the courses offered at the site indeed, a small detail, but in todays world of a pig in a poke, that is of some import do you think?

    This oddly enough reminds me of “Ben Carson’s stabbing incident” somehow.

    Why not say (a) these are not my figures and I dont have a clue what I am talking about (notwithstanding my Cawmere feat) (b) I am de facto Webly? or whatever the france the name is?

    With all this elaborate subterfuge this would seem to be the Barbados version of a plan to attract the 3rd party canvassers but then ultimately scuttle the ship cause the boss man, like Fumbles, got his heart in the right place, but hasn’t got one clue about how it is done!!

    So much deceit for what??

    Just to be Prime Minister Dis or Minister dat and to fly bout the place like big ups?

    Like

  44. are-we-there-yet April 15, 2016 at 7:23 AM #

    Thanks PUDRYR!

    My sentiments exactly!

    Like

  45. de pedantic Dribbler April 15, 2016 at 9:32 AM #

    @Pieces, you are the followed here closely as you offer some profound stuff..or to put it simple terms along the lines of a former company VP to a head of dept: you got your shiitttee together. That is the vernacular of business and you know that it is the absolute highest ‘honest and straight-up’ complement a man/woman can get from de corner office!

    So this is a but a minor correction with your piece pf April 14, 11:58 PM … because in the main your shiitteee is as together as can be on Phillips!

    However Grenville is not in any way trying to dissemble re the Walbrent College matter (not Webly). I am certainly not a shill for the guy but this association was pellucid from day one.

    Based simply on Phillips’ posting from last year that ‘college’ was always highlighted. Back then I simply did a click and review and realized that the man had established his own training institute…absolutely entrepreneurial seemed to me.

    Of course I have no idea of the efficacy of his courses or the validity of the reference posts related to its offerings but based on the focus in his field of professional expertise it would be a real lark for him to go through all this political embarrassment in order to mine prospective candidates for courses, don’t you think!!

    Anyhow that’s a minor clarification based on the public data I saw since last year.

    Thus when you see me ask him repeatedly exactly what he is trying to achieve it’s not related to his college in the least . Rather having come into direct contact with the man over the years and too based on his actions – an author, travelling speaker on key issues, basically a DOER not just a talker – I was confounded on what I considered to be ineffectual movementations towards his announced ‘political third party’ based on a rather inept set of ‘Solutions’.

    Thus Mr Pieces I humbly suggest that your very brilliant mind has misinterpreted “…this elaborate subterfuge”. There is no ” deceit ” as far as I get glean.

    But I am completely at one with you that in this world of politics Grenvile shares with : ” … the boss man, …Fumbles, got his heart in the right place, but hasn’t got one clue about how it is done!!”

    Like

  46. TheGazer April 15, 2016 at 10:47 AM #

    @DPD & PUDRYR
    Do we scratch one horse and go back to the two horse race. Even with the power of prayer, we may all be losers as we are not able to pick a ‘winner’.

    Like

  47. Artaxerxes April 15, 2016 at 1:18 PM #

    @ AWTY

    In its press release dated October 13, 2009 Moody’s Investment Service announced that “the Baa2 foreign currency government bond rating and the A3 local currency government bond rating were downgraded to Baa3 and Baa2, respectively.”

    According to Moody’s Vice President – Senior Analyst Alessandra Alecci:

    “Barbados’ key debt indicators have been on a deteriorating path over the past decade, and are now at levels that compare poorly with other countries in the same rating category.”
    “While the global crisis has clearly exacerbated this trend, the worsening of debt indicators over a long period of time suggests that structural issues are at play.”

    Moody’s explained that since Barbados’ last rating change in 2000, the central government debt stock, which they recorded at 65% in 1999, had doubled and was expected to exceed 100% of GDP by the end of 2009.

    Between the periods 1995 to 2010, the total debt increased from approximately $2.5B in 1995 to $8B in 2010, representing approximately 79% and 110% of GDP respectively.

    However, I have not found any statistics that would confirm or refute Grenville’s claim that, during the BLP’s tenure, the national debt increased from $4.3B to $9.2B.

    ++++++++++++++++++++++++++++++++++++++++++++

    @ AC

    It is obvious that none of you know what restructuring or diversifying an economy means.

    The previous administration moved away from the traditional reliance on tourism and agriculture to facilitating the development of a vibrant off shore sector. This can be considered as restructuring the economy.
    Another example of structural change was when Barbados evolved from an inherently agricultural based economy to a manufacturing and tourism based economy.

    In the political economy, diversification refers specifically to policies aiming to reduce the dependence on a limited number of export commodities that may be subject to price and volume fluctuations. For example, countries diversifying their economies away from a dependence on income from oil and gas (fossil fuel) to solar or wind energy.

    Like

  48. Artaxerxes April 15, 2016 at 1:29 PM #

    @ AWTY

    Rating Action: MOODY’S UPGRADES THE FOREIGN CURRENCY COUNTRY CEILING OF BARBADOS TO Baa2

    February 8, 2000

    Moody’s Investors Service raised the long-term foreign currency ceiling for bonds and notes of Barbados to Baa2 from Ba1. Moody’s also raised the long-term foreign currency ceiling for bank deposits to Baa2 from Ba2 and the short-term foreign currency ceiling to P2 from NP. Additionally, the rating agency stated that the rating on long-term local currency-denominated bonds issued by the government was changed to A3 from Baa2. The outlooks for the ratings are stable.

    Moody’s noted that a consistent record of prudent fiscal and monetary policies supports the rating upgrade. In recent years, following a serious balance-of-payments problem early in the 1990s, the island nation has continued to register improvements on various macroeconomic fronts including sustained GDP growth, modest inflation and manageable current account deficits.

    Conservative fiscal policies have led to moderate budget deficits during the last three years. Prudent debt management has allowed Barbados to improve the maturity profile of its external debt and to reduce the relative debt burden.

    Moody’s noted that the relative weight of the tourism sector in the overall economy represents a constraint on the rating, even though the distinctive character of Barbados as a high-end tourist destination makes the sector somewhat less vulnerable to downturns in the international business cycle. The agency also noted that further diversification of the economic base will require a strong development of the offshore financial and trade sector, whose overall economic contribution remains small relative to other countries in the region.

    Like

  49. Enuff April 15, 2016 at 2:45 PM #

    Someone should post the video of former PM Arthur’s estimates contribution. Then compare and contrast the two videos.

    Like

  50. Well Well & Consequences April 15, 2016 at 2:55 PM #

    AC…..I am sure you think that was a coherent explanation, but go ahead.

    Like

  51. Enuff April 15, 2016 at 3:15 PM #

    I am just resting this here:
    “The Barbados economy grew for the sixth straight year in 2007, recording an estimated increase of 3.6%, compared to expansions of 3.9% in 2006 and 4.1% in 2005. Growth, which was led primarily by a continuation of robust activity in the non-traded sectors and relatively strong gains in the tourism industry, kept the unemployment rate in single digits, amid falling inflation.”
    Discuss along with Grenville’s article.

    Like

  52. David April 15, 2016 at 4:41 PM #

    @enuff

    We can’t discuss the economy growing in a global boom and not factor a lazy public service, heavily subsided education, healthcare, rising consumption behavior, rotten infrastructure at the BWA etc.

    What is holistic growth?

    Like

  53. ac April 15, 2016 at 4:46 PM #

    Artax

    It is obvious that none of you know what restructuring or diversifying an economy means.

    /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

    What we do know is that the BLP under OSA did neither The evidence is written inside the pages of the global meltdown which you cannot refute

    Like

  54. ac April 15, 2016 at 5:15 PM #

    Enuff April 15, 2016 at 3:15 PM #

    “The Barbados economy grew for the sixth straight year in 2007, recording an estimated increase of 3.6%, compared to expansions of 3.9% in 2006 and 4.1% in 2005. Growth, which was led primarily by a continuation of robust activity in the non-traded sectors and relatively strong gains in the tourism industry, kept the unemployment rate in single digits, amid falling inflation.”

    ………………………………………………………………………………………………………………………………………….

    with such great statistics in those robust years why on earth is barbados struggling to pay down past debt

    Like

  55. Enuff April 15, 2016 at 6:44 PM #

    David
    What other characteristics of the global “boom” could also explain the borrowing and what necessitated the borrowing? Interestingly, some of the same projects, including Kensington Oval and the Judicial Centre, built from the borrowing used Consulting Engineer Partnership Ltd as the civil and structural project engineers. Who was a Director at the time?

    Like

  56. David April 15, 2016 at 6:52 PM #

    @enuff

    Do you mean Hutchinson?

    On 15 April 2016 at 22:44, Barbados Underground wrote:

    >

    Like

  57. Bush Tea April 16, 2016 at 8:16 AM #

    Enuff is scraping the bottom of the barrel for defenses against Grenville’s telling and highly accurate assessment of his man Owen’s role in getting our current debt crisis rolling…

    Owen HIMSELF got up in one of the Public Sector consultations at LES Conference center (in response, Bushie recalls, to a statement from Grenville at the session) and went into a rant about our need to cut back our growing fiscal deficit. It was one of Owen’s BEST speeches and was completely impromptu…

    BUT IT WAS ALL TALK….
    The records show that the situation continued to slide with large tranches of valuable funds being expended by idiots like Gline Clarke with 3S, Mia with VECO and the Oil Terminals and vis Darcey Boyce in a variety of luxury projects which had potential for cost overruns…..

    Grenville may NOT be a politician (or a Bushman with a whacker,) BUT he is highly intelligent, logical, and not easily manipulated into yardfowlery….

    Like

  58. Bush Tea April 16, 2016 at 8:25 AM #

    Which talk show was that?
    Peter W?

    Bushie cannot manage to get through a whole session with him….
    …have to leave often to throw up…

    Like

  59. Solutions Barbados April 16, 2016 at 12:58 PM #

    Dear All:

    Since governments rarely tell the citizens the true state of a poorly performing economy, and since it is the IMF who will rinse us all out shortly, and our politicians’ and the Central Bank’s explanations will be meaningless, I have based my calculations primarily on IMF data.

    The IMF data is available to us citizens, because the IMF always punishes citizens (eg doubling the income tax in Guyana) for their decision to elect their least capable people, who then run up unsustainable debts in the citizens’ name.

    Best regards,
    Grenville

    Like

  60. Well Well & Consequences April 17, 2016 at 5:18 AM #

    Grenville…please use social media more extensively in the next 18 months to educate the people and get your message across. People will listen when they know it’s the truth they are hearing and not the usual compiled lies of DBLP….you already have a small head start, it’s left to you to use the available technology to build that momentum to a crescendo.

    Like

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