Barbados Underground

Houses Built On Sandy Ground Cannot Stand ~ Where Is Our Building Code?

May 26, 2008 · 42 Comments

A new DLP administration will commit to providing incentives to new and existing small and medium size players to come into the sector. We will honour a previous commitment to ensure that at least 40% of all government’s procurement requests for goods and services are reserved for sourcing from small and medium size enterprises.

Source: DLP Manifesto 2008

Building CodeBU have blogged about the lack of regulated building standards being applied in the building sector in Barbados. Our concern has been heightened against the back drop of a construction sector which has been on the boil for almost a decade, and it shows no immediate signs of significantly slowing down. There is a fear among many Barbadians that the building stock of Barbados maybe vulnerable. We do not mean to pick on our local engineers, the Barbados Association of Professional Engineers (BAPE) et al, but why does the Barbadian public have to rely on their personal ethics alone when engaging their services? In the absence of an enforceable building code that is how we have to sum up the current state of affairs.

The Britton’s Hill incident reminded us that all is not well with the construction methodology at work in Barbados. So far we have heard a lot of hot air to fill a Richard Branson air ballon from many of the stakeholders in the industry. Will we ever know what happened to trigger the Britton’s Hill mess? Not only do we have a building sector operating with a DRAFT building code, but a Town Planning Unit that readily admits it is ill-equipped to provide effective oversight to the industry. We remember the song and dance made during the early stage of the construction of the Four Season project currently being built by businessmen Michael Pemberton et al.

Weren’t there some questions being asked about the quality of the steel being used in the construction of the hotel, said to be imported from China?

It was interesting to read about the Trinidad and Tobago government making the decision last week to review all projects constructed by the Chinese in the aftermath of the massive earthquake which occurred in China. The T&T authorities were quick to point out though that the the public should not jump to conclusions about the review. The BU household is curious why Barbados is always so slow to react in these kinds of situations. It is true that many buildings in Barbados have been constructed by the Chinese over the last twenty years. Should the Barbados government not be asking the same questions as its Trinadad counterpart? Is it too much to expect that the Barbados media should be highlighting this matter? Of interest to Barbadians should that Trinidad and Tobago enforces a building code which is law. We know the answers, do you!

Another hurricane season is approaching our region, and every year around this time, the structural integrity of our buildings is the subject of many question questions. Some of us have become more concerned that Barbados suffered a significant earthquake back in November 2007.

Our government is charged to protect its citizens. Barbados has been operating with a DRAFT Building Code for over a decade, this can only be considered gross negligence. We expect to hear the murmur level of the BAPE to increase significantly in the days and weeks ahead. Their advice was ignored over the ABC Flyover project. They have been ignored over the need to legislate a building code over the years.

Why is it our engineer friends are being treated and relegated to B Class professionals in Barbados? Why are our insurance companies so silent. Is it a case of it can’t happen in God’s country?

Categories: Barbados · Barbados Media · Barbados News · Blogging · Construction · Trinidad

42 responses so far ↓

  • Anonymous // May 26, 2008 at 6:44 AM

    BU can you post the draft document?

  • Banned Again From BFP // May 26, 2008 at 9:47 AM

    David,

    The US dollar is plummeting against the true international standard of worth, Gold. It is dragging all of the other currencies down with it as the Euro is gearing up to be the next world reserve currency.

    What should Barbados Central Bank do? National Insurance has been dabbling in hedge funds of and probably is a holder of nuff nuff US treasuries. How can they swap out to Exchange-traded funds in gold/silver. What of the future of Barbadian contributors to the fund?

    32% decline in the value of the US to Gold since 2001.

    In Oct 2006 United Arab Emirates said that it would cut its dollar holdings in half.
    In Oct 2006 Japanese life insurers with $1.6 Trillion in managed assets will begin to diversify out of their dollar holdings.
    Central Banks across Asia, China, Japan, Taiwan, S Korea, and Hong Kong are diversifying out of dollars.
    China with its 1 Trillion in foreign currency reserve of which 700 Bil (now 492 Bil as of Jan 08) is in US is cutting back in its purchase in US treasuries.
    Russia has cut its Dollar holdings from 70% to 40%. Italy cut its reserve by 21%. Sweden lowered its dollar reserve from 37% to 20%.
    Chinese bankers are pushing countries to rely less on the US$ for world trade.
    Most tourist attractions in India are not accepting $.

    Global Central bank foreign exchange reserves are held 65.4% in $US (down from 71% in 2001) 25% in Euros. Russia, OPEC and other oil producers are pushing to have transactions redenominated.
    60 % of Iranian oil is sold in other currencies

    In 2006 the IMF director for the Mid East urged to peg to the Euro, now big enough to become the World Reserve Currency.

    Foreign dollar holders are diversifying into Euros, British Pounds, Swiss Francs and other strong currencies, commodities and gold and oil. China did this to grow their strategic mineral and oil reserves.

    Let’s talk turkey on this one, yeah

  • David // May 26, 2008 at 6:40 PM

    We thought that with the hurricane season approaching the BU family would have wanted to lend a voice to the shabby management approach to managing construction in Barbados! Perhaps it is a case where we don’t have the resolve anymore to fight for causes?

    Banned Again From BFP~what do we know about these matters you ask about? There is voluminous analysis which can be Googled about these matters. One little comment we can make is to suggest that the world’s oil industry is firmly traded in USD. Until that mechanism is disbanded USD will reign supreme. Some people say these currency fluctuations are cyclical anyway.

  • Banned Again From BFP // May 26, 2008 at 7:11 PM

    Dvaid,

    Building code w.r.t hurricane season…? Should you not be looking at the number of derelict buildings, galvanise fencing, hanging signs and traffic lights, the promise from BL&P to undergo an active campaign to put new cables under ground, even the fact that hurricanes come in mango season and so on. Please excuse me for missing the point.

    And NO David, oil is no longer exchanged for US dollars. Those days are rapidly coming to an end. I am not crying wolf here, I am crying meteorite. Please take what I say seriously.

  • David // May 26, 2008 at 7:20 PM

    Shelter is always an important consideration for humans. We have a responsibility if not to ourselves certainly to our children. Additionally we are a tourist destination and a haven for foreign investors and place great reliance on our beautiful buildings as a lure to foreign investors.

    Why are our engineers, insurance companies, consumer advocates and others not making noise.

    Can you provide links which shows how the payment system for oil has changed?

  • Banned Again From BFP // May 26, 2008 at 7:41 PM

    The bulk of what I have stated can be verified here.
    http://www.youtube.com/watch?v=3RhnHo3RDfg

    But any investment analyst worth his salt could speak to this as well. This speaker is the clearest you’ll find anywhere. Contact Luther at National Insurance and ask for an input please… PLEASE. Rep Ron Paul is not a quite person either. Let’s do this David.

  • Banned Again From BFP // May 26, 2008 at 7:45 PM

    Sorry David,

    But I am sure you know that “our engineers, insurance companies, consumer advocates and others” (like journalists) are comfortable making good end-of-month salaries. Why should they rock the boat? If it ain’ broke…

  • David // May 26, 2008 at 7:51 PM

    We hear what you are saying BAFBFP.

    We have been noticing the very extravagant lifestyle of some of our insurance executives. Shouldn’t the Supervisor of Insurance be involved in the process? At the end of the day if homes are being insured where the strutural integrity can be questioned it would seem to us that there is some bad risk being taken on board.

    What purpose is the office of Supervisor of Insurance serving? If the supervisor is appointed by government then the interest of the PEOPLE should be at the centre, right?

  • Straight talk // May 26, 2008 at 7:54 PM

    David you not read Yatinkiteasy’s comments on BFP today?

    Try buying oil Iran, Russia, Kuwait or Venezuela in euros, you will be welcomed.

    Why on earth would any oil producer sell a scarce valuable product for an increasingly worthless piece of paper that props up the Feds trillions of dollars deficit.

    They are making the choice to sell in a more patently valuable currency or leaving oil in the ground to become even more valuable.

    The dollar devaluation must suit Barbados or why would the Central Bank stay quiet whilst our savings and pensions go down the pan.

  • Banned Again From BFP // May 26, 2008 at 8:11 PM

    Slam Dunk Straight talk,

    David you got two topics running here. Cool..!

    The Sup of Insurance is on a growth path. He keeps his mouth shut he will replace Carrington at NIS who, if he keeps his mouth shut will replace the PS in the Min of Finance, who has kept his mouth shut and now sits on the board of the Central Bank. Pragmatism is the true bajan culture, not wukkin’ up. Looks like the two topics are connected. WOW

  • David // May 26, 2008 at 8:42 PM

    So the politicians changing land use and water zones without rhyme or reason, the civil servants towing the line as the civil service pecking order dictates and the PEOPLE getting chafed. Is that it?

    When there is a disaster many of our insurance execs et al will fly to Miami, Toronto, London and other cities and life happily ever after. We can just read the script.

    Re member some time ago that the previous government was to amend the NIS law to allow them to invest some NIS funds outside of Barbados. Did it ever happen and if so what is the holdings?

  • Banned Again From BFP // May 26, 2008 at 8:54 PM

    Yep. They have, and they did and I am worried. Is their porfolio diversified enough or are they like you believeing in the US to come good.

  • Banned Again From BFP // May 26, 2008 at 9:30 PM

    J
    see w’a Bush tea say.

    As a consequence the architect that designed the oval that your daughter will pay for recently won an award for the best designed stadium in the world or something like that. Dey could ‘a give a bajan company lead on this project at the very least give them an opportunity to acquire some needed international recognition. No, the Great O&A, project leader, forced Alleyne’s hand and he had no choice but to seek the Commonwealth Secretariat’s advice with the time-frame he was given, and of course he was duly directed to an English (of Indian stock) architect.

    Oh I lef out the Dir of Finance between the NIS Dir and the PS Finance. Pretty neat process don’t you think?

    David

    I understand your pain, when the shit hits the fan, be it hurricane or a scrapped US dollar.

    The Simpsons, Williams Brothers, Parrises, Kents a host of Indians with last names ending with “ani” along with the insurance executives have got their off shore investment portfolios updated and prepared, long time… make no mistake.

  • Banned Again From BFP // May 26, 2008 at 9:33 PM

    I fa’get the chap with the Sweedish name from St Lucy

  • Gabriel the Horn Blower // May 26, 2008 at 9:42 PM

    Banned,

    What concrete action would you advise the lowly citizen, living from paycheck to paycheck, to take in the light of the weakening dollar, waning US influence etc?

    I have no influence on the government, NIS, Central Bank etc and after paying the mortgage, the house hold bills if I have $200 left, me and the missus celebrate with some Shorty’s Ice Cream.

  • Green Monkey // May 26, 2008 at 9:49 PM

    Program on Peak Oil and its consequences from the English service of Al Jazeera.

    Part 1:
    http://www.youtube.com/watch?v=KrjX4Nf_wGM

    Part 2:

  • Gabriel the Horn Blower // May 26, 2008 at 9:55 PM

    The only portfolio the Horn Blowers got, is some artwork one of the children have in a folder!

    So what Bjerkham, COWilliams or K Simpson etc do with their money is of little concern to me.

    So for us simple folks, why should we care about whether oil is purchased in Euros or not and what should be the response of the poor and the powerless ?

    Please keep the language of your answer simple.

  • Gabriel the Horn Blower // May 26, 2008 at 10:52 PM

    OK Green Monkey

    watched ‘your’ videos on peak oil, so what next?

    I turn the lights out when I leave the room, we don’t have any big entertainment system at home all we have is channel 8, my car is 1100cc and I try to walk more, no air conditioning in the car either nor the house, the missus even cut back on the amount of meat we eat per week!

    You know what, my neighbour just got a lovely SUV, his sound system keeps everyone in a 3 mile radius entertained and you should see the 25cuft two door fridge he bought (that got missus Horn Blower complaining to her mother about the failure of a husband she got!) but what the heck. We will beat Peak Oil I shout or …will we, Green monkey?

  • Banned Again From BFP // May 27, 2008 at 1:00 AM

    Gabriel the Horn Blower

    I would like to advise you to spend….! Wa’ you like me, ain’ got enough to invest, as holding on to cash that is linked to the US$ will surely only result in diminished worth of your savings. The talk about oil reaching US200/barrel is as a result of the falling value of the dollar. The question of oil supply (in the oil industry supply is refined/processed oil and not drilled oil) is also as a result of the falling value of the dollar as people seek to buy oil or anything that they can touch (the old reason was that there was no new investment in refineries and ships) that can be sold again at a favourable price later. The question of peak oil whether true or not scares speculators in the bourse (trading posts like NYMEX) and that only serves to push the price up as well (incidentally that guy in the peak oil video never left Nevada, I am sure)

    If they were something like jewellery are art that could be sold at a later date, stocks (but our local market is a dump at best with zero moving stock prices), stock pile food, I don’t know. We have very well trained people who have benefited from the free education and scholarships who should be concerned enough to speak and advise (and I do not mean use the opportunity to sell low income earners the idea of using our local so-called stock market and the variety of mutual funds that are safe but earn practically nothing over time – perhaps this is better than losing with cash savings).

    I think that the blogs and call in programs should be bombarded with people like you who have been made aware and need to have official comment on the matter rather than glossed over statements on tightening belts.

    Shouts like “Barbados needs to dump the US pegging in favour of the Euro”. It is only a short matter of time before the Euro stops tracking the dollar and curve away to set a more realistic level as the world’s reserve currency of choice. Barbados has a US Embassy that it seeks to maintain (source of foreign income from our neighbours… poor brethren). That is probably the reason why it dismissed out of hand the Venezuelan designed Alba-Alternative, Petro-Caribe arrangement.

    Please David let’s invite more discussion on this subject and draw out the real-real experts. Bajans could use some qualified advice, Now More Than Ever!

  • Green Monkey // May 27, 2008 at 1:11 AM

    Gabriel the Horn Blower, you better tell the missus she going have to learn to live like the Amish.

    North America’s Amish community: least likely to be devastated by collapse

    by Carolyn Baker

    SNIP

    This past week I had the opportunity, while visiting family in Northern Indiana, to spend a day with Amish relatives. Unlike my associations with them previously, this visit was colored by my acute awareness of civilization’s collapse and the ramifications of that reality for most of us.

    With that in mind, I keenly observed and discussed their lifestyle with them as gas prices now loom toward $5 per gallon. I came away from the experience with an unprecedented conviction that in order to survive and perhaps even thrive in the throes of collapse, it will be necessary to adopt a number of aspects of the Amish lifestyle.

    Perhaps most obvious is the reality that the Amish do not own or drive cars although they are not averse to riding in them or using public transportation. It should be understood that Amish practices vary according to geographic location. For example, Amish in Pennsylvania have different practices than those in Indiana or Ohio; however, no authentically Amish person anywhere in North America owns or drives a car. For local transportation, the horse and buggy are used, and for long-distance travel, busses, trains, or the hiring of drivers of vans or cars is commonplace. Thus, the Amish are not impacted as we are by high gas prices. They use sparse amounts of gasoline to power small motors around their homes and farms that power refrigerators, washing machines, and pump running water. Many Amish farms have giant windmills that also pump water for home and farm animal consumption.

    The principal occupation of the Amish community is farming, but over the decades, higher prices for land and equipment have necessitated their having jobs off the farm. Amish men frequently work in a nearby town, and many men and women have small home businesses such as harness making, furniture building, weaving, and a variety of other crafts that they sell on the farm or in town at flea markets or may place in stores on consignment. They take enormous pride in making things and doing so with extraordinary care and craftsmanship. For the most part, the Amish cherish self-sufficiency and not having to depend on working outside the home for their sustenance.

    http://www.energybulletin.net/44899.html

    Maybe it’s time to sell the car and look for a horse and buggy. :)

  • Straight talk // May 27, 2008 at 4:36 AM

    Maybe it’s time to sell the car and look for a horse and buggy. Green Monkey.

    Maybe said in jest, but raising donkeys and mules,plus setting up a saddlery course at SJP are moves which maybe should start to be considered.

    Its time to get our heads out of the Arabian sand to be ahead of the curve.

    Lifestyles will have to change and those who fail to plan, plan to fail as the gurus say.

  • David // May 27, 2008 at 5:34 AM

    Dr. Robinson has already agreed with comment on the blog that although it is a noble exercise for individual consumers to conserve, the collective impact on the economy of Barbados will not have the desired impact. We agree that the charge must come from national initiatives which will seek to put sustainable alternative energy solutions in place.

    The BL&P must be realizing now that time is running out and the blame game is over. They have protected their preserve well but it has all coming under question now. Do a search of BU to see the arguments from Chief Marketing Officer Stephen Worme of the BL&P.

    This same approach to protecting the old boys network is also at play in the construction and insurance industry supported by the bureaucracy of government. Look at the players who are getting filthy rich and it all starts to make sense. How can Barbadians dismantle the model? We can conserve all we like, will it matter when a construction catastrophe occurs and the insurance premium goes through the roof? Will is matter?

  • Banned Again From BFP // May 27, 2008 at 6:46 AM

    David

    Uh oh, you just provoke another long winded response from De PDC. Oh no!

    One of the biggest reasons (though covert) for keeping the eleven plus is the maintenance/continuance of the primary “old boy net-work”, in particular the Kolij, Lodge and Cawmere, the most entrenched. Truth is it worked for me when I first entered the job market. How does this old boy thing modify with the co-ed model of the last twenty years?… Don’ know. But for me the scariest associations are the Lodges (particularly the Masons) and the Clubs (particularly the Rotary), more so than the much larger associations like a political party or church. These entities are surely players in determining who gets contracts and why the lack of volunteered information on a number of very important issues.

    And David
    Fa Chris’ sake, why does a Utility company, to be precise, a utility monopoly, need a marketing manager and department?

  • David // May 27, 2008 at 6:54 AM

    Banned Again From BFP please be fair to the BL&P they have some excellent community outreach programs, they have to plan communication messages, they advertise. These are activities which fall under marketing :-)

    Many of the economies of the region including Barbados still lean heavily on the US for both imports and exports. If we switch our leaning to Euro what does that do besides short term gains. Remember that the same up and down can happen to the Euro. Maybe our economist friends can bring some leadership to this discussion.

  • Banned Again From BFP // May 27, 2008 at 7:06 AM

    Banned Again From BFP please be fair to the BL&P they have some excellent community outreach programs, they have to plan communication messages, they advertise

    you might add David, which consumers pay for, many times over. Let me ask you this. If BL&P offered to cut back on these various ‘marketing activities’ to reduce the cost of their service to you, cut out advertising (very expensive in Bim) how would you respond?

    The US companies will accept Euros, they are not stupid people. David the US fiat dollar is dead. The ‘Fed’ is only running printing presses now.

  • The People's Democratic Congress // May 27, 2008 at 7:49 AM

    Barbados Underground (BU) must be used to seriously help mobilize hundreds upon hundreds of people in the country against this essentially wicked ideological political economic and financial system in Barbados. For, it is this system that continues to do the greatest intellectual, social and political harm to the masses and middle classes of people of Barbados.

    This blog is a fairly good channel through which throngs of individuals and organizations in Barbados can, at this very critical juncture in the development of Barbados, be influenced to help rally against this nefarious ideological political economic and financial system. Certainly, the time has come for a lot of this talk that we in Barbados have been doing for a long time to be reduced to a minimum, and for serious political action to be taken within the four corners of the constitution of Barbados to help save the masses and middle classes of people of Barbados from the raging worst effects of this system as well as the burgeoning worst effects of this global elitist imperialist political, social, economic, and financial system. Fellow bloggers must be told by the PDC that the time for greater political action in Barbados is now.

    In concluding, it is a fact that hundreds of people that we communicate with on a daily basis in this country face the absolute dire prospects of greater hardship and misery as a result of the operation of these dreadful systems. See our Website for our meeting times.

    PDC

  • Gabriel the Horn Blower // May 27, 2008 at 7:56 AM

    Horse and buggy! wunnuh crazy…
    Years ago former Dean Crichlow started riding a bicycle to get from home to the St. Michael’s Cathedral. You should have heard the criticism and the derisive comments made then.

    The only body I know talking about using donkeys is Julian Hunte and most people say he mad! The missus laughing at the thought of Gabriel looking through the railings down at the Psychiatric begging for a cigarette (and I don’t even smoke)!

    The missus is warning me that when I get the horse and buggy, Green Monkey, Straight Talk and Banned are going to congratulate me as they pass me in their SUV’s.

    As for living like the Amish, the Horn Blower’s are too poor. Land is selling at $30/sq ft and Keith Headley suggest that it would cost $50,000 to convert to solar power.

  • Banned Again From BFP // May 27, 2008 at 8:14 AM

    “… congratulate me as they pass me in their” SUBS Horn Blower, Subs, the type that you get from Super Centre for 7.50 Bds.

  • Gabriel the Horn Blower // May 27, 2008 at 8:21 AM

    You see what I mean, Banned buying subs from Super Centre @ $7.50. We horn Blowers settle for pork cutters by Taffy’s shop @$3.00.

  • Straight talk // May 27, 2008 at 8:26 AM

    Gabriel,

    The same people who were totally dismissive of the scenario last year when oil was $65 may now ridicule it with the price now doubled.

    They will be angry next year with oil pushing $300 and casting around for someone to blame.
    “Why weren’t we warned? ” will be the cry.

    At what price do you think people will come out of denial and understand the reality?

    Maybe $50 per gallon?

    If you want some suggestions of how to cope with the changed economy try http://www.treehugger.com/files/2008/05/surviving-peak-everything.php
    There are a host of similar sites, some too doomy to mention, but helpful tips can be gleaned from less than hour’s reading.

    If we get over this crisis without any hardship, what have you lost?….. if we don’t you will have prepared yourself.
    But I think the solution for our small country is community self help groups.

  • Banned Again From BFP // May 27, 2008 at 9:50 AM

    I have always had a problem with David Ellis wining on radio about how journalists hands are tied and no one wants to come forward and so on and so on (this ‘and so on’ thing is actually a mimic of Art Lockjack from TnT- cool).

    The guy in this video (2008 US election has already been determined) works for a living by digging, doing the hard stuff. He is a real real journalist, most definitely not an Ellis or Ellip or whatever.

    http://www.brasschecktv.com/page/327.html

  • Green Monkey // May 27, 2008 at 2:50 PM

    Re. the brasschecktv video of BBC journalist and commentator Greg Palast’s talk on the US election fraud planned by Karl Rove and his Republican friends posted above:

    9/11: Cover For A Coup D’Etat?

    Diary Entry by Ed Encho

    SNIP

    Stealing the 2000 election was essential, the neocons needed a useful idiot in George W. Bush to piggyback into the White House where Cheney and Rumsfeld could set up their shops in order to allow for the coup to be executed. Once Bush’s installation was ensured by the requisite political chicanery, black ops, a massive psyops media campaign and the assistance of the Federalist Society stooges on the Supreme Court all the pieces were in place. A weak and easily manipulated president who appealed to a certain segment of the population, a self-selected V.P., the necessary bureaucratic appointments and the stage was set for the catalyzing event that would set the plan into motion and the ensuing quashing of dissent when the power grab came. I wonder why any serious investigation of those nasty little anthrax letters has never taken place, and why the only recipients were influential media figures and key Democrats who could have potentially stopped the USA PATRIOT Act.

    The neocons have too much to lose if they are removed from the White House, the implications of real investigations would be devastating, shocking and could very likely result in convictions on charges of treason and not that silly dittohead talking point style ‘treason’ which has become a common euphemism for dissent and criticism in the reich wing media but REAL treason.

    Our immediate aim will be to enforce public order, but our long-term objective is to gain the acceptance of the masses so that physical coercion will not longer be needed…. Our far more flexible instrument will be our control over the means of mass communication…. In broadcasting over the radio and television services our purpose is not to provide information about the situation, but rather to affect its development by exploiting our monopoly of these media.

    -Edward Luttwak

    The shameful abrogation of the media is even more responsible for America’s tragic present and ugly future than even the neocons themselves and they spit on the graves of every American serviceman or woman who is killed in Iraq and Afghanistan every time that they cue up the saturation coverage of Paris Hilton, the missing white teenager of the week, the pervert of the day or the latest brushfire that is deemed worthy of national coverage. The media is despicable and the charlatans along with every big-haired, addle-brained bimbo with nice tits who can read a teleprompter like Paula Zahn or Katie Couric is a disgrace to truly dedicated journalists who once viewed their profession as that of integrity rather than of opportunity for career ladder climbing shills and corporate whores who are nothing more than charlatans masquerading as journalists.

    About a week ago I was away for a trip with no access to the internet, satellite radio or any foreign news sources. All that I had was the network ‘news’ and CNN and it was quite a shocking experience. I really do not watch that crap when I am at home and the unbelievable spin, fixation on one story ad nauseum (for example Ted Kennedy) at the expense of anything at all meaningful and the complete disappearance of any thing at all on Iraq is stunning. It was travelling into some sort of bizarre parallel universe and yet the majority of Americans are trapped in that world with no way of knowing what is really going on. While understanding the problem with a population kept enshrouded in a cloaking device of enforced ignorance I am just in a state of disbelief of what life is like for those who aren’t online and informed on the real issues while the country goes fascist and the economy goes bankrupt.

    http://www.opednews.com/maxwrite/diarypage.php?did=7521

  • Banned Again From BFP // May 27, 2008 at 5:17 PM

    Please note that David has politely removed himself from this discussion on a sustained code of ethics in building, currency standards, and journalism to start a new topic of far more reaching and dire significance, Jippy Doyle.

    David seriously, for the record, I am nearing fifty with a couple of kids and expenses. May I with respect, ask you your age?

  • David // May 27, 2008 at 7:25 PM

    Banned Again From BFP please note that age is just a number :-). As you should know we try our best to post topics of interest frequently on many topics. We do try to satisfy the varied interest in our household.

  • Banned Again From BFP // May 27, 2008 at 8:15 PM

    That is so sad.

    Tell you what. Find a way to keep this thread running, and I will find a way to make it interesting. Worth your while…

  • David // May 27, 2008 at 8:33 PM

    We found this article which gives Mariano Browne’s views on the advantages of switching from the US peg to Euro. It is interesting that the billion dollar stabilization fund which they are managing they have taken a decision to diversify the portfolio. From what we gather the fund is to be invested to benefit future generations of Trinidadians. We hope that the people at the NIS have diversified as well. Its our future they are messing with, now?

    If you are wondering this is the same Mariano Browne who was recently in Barbados.


    More Euro, Yen for Stabilisation Fund

    Wednesday, April 23 2008 @ 02:00 PM AST
    Contributed by: trevor
    More: 167
    by Andre Bagoo, Newsday

    While the Trinidad and Tobago dollar will remain pegged to the US dollar, the billion-dollar Heritage and Stabilisation Fund will be diversified with acquisition of more foreign currencies like the Euro and Yen. This diversification is to be done in light of the depreciation of the United States dollar internationally.

    Minister in the Finance Ministry mariano browne made this disclosure in the Senate amidst concern over the turbulence of the American market caused by the sub-prime mortgage crisis. But he emphasised that while this action will be taken there is no need to take the TT$ off of its US$ pegging.

    Answering a question posed to him by Senate Minority Leader Wade Mark during yesterday’s Senate Order Paper at the Red House, browne said any “realignment of our currency would not be prudent at this time.”

    browne noted that the US$ had weakened by 11 percent against the Euro and seven percent against the Japanese Yen in 2007.

    The Minister admitted that having the TT$ pegged to the US$ was reulting in this country incurring an economic cost.

    Noting that the weakening of the US dollar internationally was not affecting the foreign reserves of Trinidad and Tobago he said: “to the extent that the US dollar is depreciating against some other currencies, it could be argued that the opportunity cost associated with continuing to hold foreign reserves denominated in US dollars is increasing.”

    “Currently, the Heritage and Stabilisation Fund is invested in US dollar denominated assets. However, the Strategic Asset Allocation for the Fund provides for a portion of the funds to be invested in non-US equities,” he said.

    But this diversification, browne said, “would take place over the next few months when the external managers for the Fund have been contracted.”

    The Minister said that in order to minimise the opportunity cost of holding foreign reserves in US dollars, the Central Bank will be investing in non-US$ instruments.

    In defending the Government’s decision to keep the TT dollar pegged to the US dollar, browne said: “the principal reason for the current alignment with the US dollar is the fact that an overwhelming concentration of Trinidad and Tobago’s trade is denominated in US dollars.”

    He said 90 percent of total exports and 70 percent of imports are denominated in US dollars.

    “Accordingly the TT dollar does not need to be protected from fluctuation of the US dollars against other currencies.”

  • Banned Again From BFP // May 27, 2008 at 9:03 PM

    David

    Good stuff. Give me a few hours.

  • Banned Again From BFP // May 27, 2008 at 9:16 PM

    Seriously, I need to sleep. Worked all night. Talk to you in a while.

  • The People's Democratic Congress // May 27, 2008 at 10:56 PM

    It is very interesting that so far (up to the time of writing this) we have NOT seen on this blog any comments with regard to the political stunts, gimmicks and histronics that were played out on the people of Barbados yesterday by this already failing DLP Government. At the Press Conference yesterday at Ilaro Court, Pime Minster David Thompson announced that commercial wholesale chicken would be taken from under price control, and that diesel would be “reduced” to farmers, fishing boat operators, PSV operators and some manufacturers. (Daily Nation, Tuesday, May 27, 2008).

    The fact of matter is that these measures, which take effect on June 1, WILL DO ABSOLUTELY NOTHING TO REDUCE THE COST OF LIVING AND ABSOLUTELY NOTHING TO REDUCE THE COST OF DOING BUSINESS IN THIS COUNTRY, contrary to what many persons in Barbados are thinking that they will, in fact, reduce the cost of living, esp. As a matter of fact, too, these measures WILL NOT serve to generate more disposable incomes for Barbadians to spend or save or invest at this critical time, WILL NOT serve to bring about greater production and productivity themselves, WILL NOT serve to bring about production and marketing effeciencies in the country, and WILL NOT serve to reduce drastically the role and effects of the government in the lives of the people. What these initiatives WILL PRIMARILY DO is to simply slow the rate of DEBT increases by these people. How unhelpful, indeed!!

    Moreover, current important national objectives such as making sure, et al, that people in Barbados get greater disposable incomes, that people in Barbados and other entities in Barbados achieve far greater levels of production, productivity and marketing effeciencies, and that the operations of the state are drastically but reasonably reduced, are far more long term-oriented and developmental than the downright artificial posturing and tinkering that went on at the Press Conference.

    Certainly, the Prime Minister, and that joker for a Minister of State, Mr. Darcy Boyce, have got it totally, totally wrong in their roles in the engenderment of these kinds of measures, because they are refusing to deal with the fundamental reasons why local production and distribution costs in the country are reaching very unsustainable levels. Messrs Thompson and Boyce prefer to deal with heading off a political storm over the concerns/complaints of farmers, fish boat operators, PSV operators and some manufacturers that they are being faced with increasing expenditures and loosing much money on their assets/stocks and investments, rather than the said Messrs Thompson and Boyce seeking to incorporate such persons into a national plan for the greater restructuring, repositioning, reinvigorating and redeveloping of our productive, industrial, commercial affairs of the country.

    Certainly, Mr. Owen Arthur, a so-called economist, and when he was prime minister, ever so often used to indulge in this type of low-class politics, such that when he was thrown out of office by the people on Jan 15 2008, he left, et al deplorable, a stagnating semi-industrial base, vicious and strangulating TAXATION assaults on the relevant people of the country, chronic problems in the external account of the balance of payment, and a long trail of government debt. Why should we allow this DLP Prime Minister and this DLP Government to do a similar thing? Why? Why?

    PDC

  • Banned Again From BFP // May 28, 2008 at 9:33 AM

    David,

    “He said 90 percent of total exports and 70 percent of imports are denominated in US dollars.”

    This is a typical Mario Brown argument… nonsense. A stupid comment by a challenged human being. Brown stands for Brown-nosing.

    So they sell the bulk of their oil to the US. No one is suggesting that they refuse US dollars, the suggestion is that they peg to another currency. Every day lost in procrastinating, is buying power lost to the saving community in Trinidad and Tobago and Barbados and the OECS. We’re all being robbed… seriously.

    PDC
    Well said but do you have to be so

  • Anonymous // June 2, 2008 at 4:20 PM

    Banned Again
    Trinidad has oil. We have tourism, and we import nearly everything from the United States. What sense does it make to peg our currency to the Euro? As it stands right now, devaluation of the US Dollar benefits us in making our tourism product more competitive to Europeans, and maintains the status quo vis-a-vis visitors from the U.S. If we were to peg to the Euro, we would price ourselves out of exporting anything, including tourism. Or am I missing something here?

  • Researching // June 10, 2008 at 10:48 AM

    Hi David:

    Just a slight clarification. The Building Code is not in “draft” form. The draft was sent to stakeholders for comment in 1991, and published for use by the construction industry in 1992. It was updated in 1993.

    It is normal for building standards to be revised periodically as building materials and methods change. Building standards are therefore dynamic documents.

    The Government sells copies of the Code to recoup their printing and administrative costs. However, there is no good reason why they cannot publish this critical information on-line.

    Regards,
    Grenville

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