Fulfillment Confirmed

Zoe requested we share the following with the BU family.

For I am the LORD:
I will speak, and the word that I shall speak shall come to pass;
it shall be no more prolonged:
for in your days, O rebellious house, will I say the word,
and will perform it, saith the Lord GOD.
—

Ezekiel 12:25 (KJV)

Fulfillment Confirmed.

Stop Blaming All On Global Economies

Submitted by Old Onion Bags

Why don’t the DLP give up on its campaign of blaming everything on Global Economies for its lethargy. Bajan are growing tired of it now. Everything during its 5 year term has been blamed on the Global Economies yet Brazil, Singapore, Taiwan Guyana Canada Sweden and I can go on and on…have been registering GROWTH during 2008-2012.

Why are these places immune from Global Economies.?…No.it is just their Ministers of Finance( unlike ours) has enough sense to know… an over taxed economy will present NO GROWTH…increasing VAT by 2.5 % collected $54 million but hauled in $-120 million in bounced cheques..netting minus $-66Million..They should be so ashamed to have published this…so what was the Controller doing all this long time…it only takes 4 weeks at most to know a cheque has bounced….but $-120 million..

That’s what you call sitting on your arses and twiddling thumbs

Economics Helping Caucasians To Politically Oppression And Exploit Millions, What Are Local Economists Saying?

Submitted by Peoples Democratic Congress (PDC)

In many economic textbooks, the definition of economics is the study of the allocation of scarce resources to satisfy human wants. For Adam Smith – one of the founders of economics – economics is “an inquiry into the nature and causes of the wealth of nations”. In some modern English dictionaries (the Oxford School Dictionary, the 5 edition) economics is described as the science of the production and distribution of wealth. In the Collins Students Dictionary for the Caribbean, economics is “the study of the production and consumption of goods and services ……..in a society.”

As for the PDC, economics is defined as the inverted political ideology, philosophy and psychology of the Caucasian man (the patriarchal Euro-centric man), and of which – because they are exclusively non-racial, non-class, non-sexual, non-religious, non-historical in their essential characters – have clearly been giving rise to specific sets of repeated changes in the forms of material beforehand, in whatever commercial, industrial, non-government settings; wherefore those reproductions are such that millions upon millions of people across the world must – through their own means – come by them, or have access to them, in order to live in this entire social world, and, as such, this compulsion comes through nothing but the said ideology, philosophy and psychology of the Caucasian man and by extension the political actions of this man consistent with them.

Now, what is the fundamental purpose of economics?

The Politics Of Spin

Chris Sinckler, Minister of Finance (l) David Estwick, Minister of Agriculture (r)

One does not have to be an Einstein to observe that we are living in troubling times. We have seen ordinary people topple Mubarak who has held power for thirty years  in a  monarchical style government in Egypt. As we type this blog news services are reporting  demonstrations in Libya, Tunisia, Algeria to name a few places.  Volatility in the Arab world is always a concern to the rest of the world, especially small open economies like Barbados reliant on fossil imports. Forecast for Brent Crude closed at USD102.52 effective 18 February 2011.   There is even the possibility of a US government shutdown because of a budget standoff between Republicans and  Democrats. The foregoing makes the business of economic forecasting a crystal ball affair for local economists who sit in the Tom Adams Financial Centre.

Last week Minister of Finance Chris Sinckler announced with fanfare that the Barbados economy grew by 0.3 per cent at the end of last year and had not contracted by 0.4 per cent as earlier projected. The revelation appears to have precipitated a spasm of enthusiasm among local Central Bankers who were reported to be busy revising first quarter projection from 2% to 2.5%.  The news could not have come at a more opportune time for Barbados with  the embattled credit rating agencies Moody’s and Standard & Poor’s reported to be visiting Barbados soon. Barbados currently has a rating a notch above junk status.

BU is pleased the government has been able to reverse several months of GDP decline but refuses to jump over the moon until the growth is sustained over at least three quarters. The longer term objective is to see  some strategies implemented to guide transformation in the productive sectors of the economy. A recent loan for USD40 million from the IADB to be used to develop the alternative energy sector is good news.