EDITOR, The Tribune.
According to the website https://countrymeters.info/en/Bahamas/economy, the Bahamas’s debt is US $7.338 billion and the Bahamas GDP is US $7.269 billion. This gives a debt to GP ratio of 100.9%. This is phenomenal. I warn that the Global Financial crisis has not climaxed and things will get worst before they get better. In 2006 in the US, people started to default on their mortgage loans, but it did not climax until 2008.
Similarly in the US the financial crisis is just beginning with the start of bankruptcies of companies like Brooks Brothers, Hertz and JC Penny and the worst is yet to come. China, the world’s second largest economy is also weak. China recently nationalised nine financial institutions.
The Bahamas needs to strengthen its internal economy and increase food security by investment in agriculture. The Atlanta Fed projects that US second quarter gross domestic product will decline by 52.8%. There is still protest in many US states over the George Floyd killing by police and President Trump on July 20, 2020 said he will send Federal agents to major cites where the protests are occurring. The major source of tourists and remittance for The Bahamas is the US. US is the Bahamas’ number one trading partner. Get ready, it is going to be a bumpy ride.
BRIAN E PLUMMER
Nassau,
July 20, 2020.
Comments
proudloudandfnm 3 years, 8 months ago
Yeah but trump and the republicans will be gone come November and as usual the dems will clean things up...
This has been the cycle in the US for decades. Republicans mess up the economy with their tax cuts and increased spending and the dems get in and clean it up.
GodSpeed 3 years, 8 months ago
Dems clean things up? 😂 That's a good one.
Proguing 3 years, 8 months ago
I can't wait to see another left wing meltdown when Trump wins his 2nd term.
Remember they all said he had zero chances of being elected.
GodSpeed 3 years, 8 months ago
They've been melting down since he got in office, it never stopped. Expect a full on Civil War in the US when Trump wins.
DonAnthony 3 years, 8 months ago
Th bahamas GDP in 2019 was 12.83 billion not as this erroneous writer said 7.269. People should get their facts right before they write letters to be published.
SandyE 3 years, 8 months ago
BRIAN E PLUMMER says: "There is still protest in many US states over the George Floyd killing by police and President Trump on July 20, 2020". I gather Mr. Plummer is Implying its Trump's fault. Give me a break. Are we to imply that the Bahamas that I've been visiting since 73 in anti Trump?
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