JohnDoe 8 years, 10 months ago on Ministry responds to 'rubbish' Bahamas 'terrorist' report
Ministry responds to 'rubbish' Bahamas 'terrorist' report
Very irresponsible statement! This is and should never be a partisan issue.
JohnDoe 8 years, 10 months ago on Ingraham: FNMs unite or face loss to the PLP
Ingraham: FNMs unite or face loss to the PLP
HAI is a hypocrite not just for the way he left but for what he has been doing after he left. After leaving the Party in a vacuum and disarray and after trying to covertly undermine Minnis for the past couple years he now unapologetically says unity is needed as if he was not involved in the disunity and disarray. Well HAI why just talk about unity in the third person, state unequivocally that you support the three time duly elected and legitimate leader of the Party TODAY and call the spectacle that is LBT and the six angry men exactly what it is.... a spectacle. Minnis for sure has not performed like a star and has hurt himself with some self-inflicted wounds and therefore has his detractors, of which I am one. However, the fact of the matter is that he is the duly elected leader of the Party, having won on multiple occasions fair and square and he did not use the trickery that the PM had to stoop to to win. As I see it there are still several strategic avenues that can be exploited but time is running out. However, most of those strategic avenues would require HAI to become apart of the solution and not the problem and therein resides the rub. HAI has always been only for HAI as he needs the glory to feed his non-satiable ego. The fact of the matter is HAI wanted to be PM and maybe had a issue with LOP but to me appears to be quite comfortable with PGC as PM. In short HAI is still a PLP at heart.
JohnDoe 8 years, 10 months ago on Lloyd aims to introduce single-sex schools pilot
Lloyd aims to introduce single-sex schools pilot
It not only said "pilot" one must asks how successful the current approach has been. I don't know whether or not it will work, however, I do know with certainty what the outcome would be if we do not "pilot" it at all. Further, the out of the box thinking is exactly what is necessary at this critical juncture as we move closer to the abyss.
banker 8 years, 10 months ago on Lloyd aims to introduce single-sex schools pilot
Lloyd aims to introduce single-sex schools pilot
Y'all did notice that he said "pilot" -- meaning that he was going to test the idea? To me, that is the most sensible thing to do, instead of taking unilateral action.
JohnDoe 8 years, 9 months ago on Loretta: Credible candidates prop up ‘weak’ Minnis
Loretta: Credible candidates prop up ‘weak’ Minnis
What an incredibly naive statement for a potential leader to make. This statement underscores LBT's total unfamiliarity with sound leadership principles. Assembling a credible team is the hallmark of good leadership unlike the unfit misfits she appointed to the senate. This lady is absolutely clueless, all sound and fury signifying absolutely nothing. A true empty barrel making silly noise.
JohnDoe 8 years, 9 months ago on Out Island ‘uproar’ over RBC closures
Out Island ‘uproar’ over RBC closures
The reason why we do not have an up-to-date banking infrastructure is that the business practices of RBC and the other foreign commercial banks have been more akin to a self-perpetuating colluding cartel than actual competitors. It is a totally rigged system against the Bahamian consumer and to the detriment of the Bahamian economy. Next to the incompetence of successive PLP and FNM governments in managing our economy, the historical business practices of these commercial banks is arguably one of the other major reasons why the historical growth rate of our economy has been so unimpressive. I am not saying that they have not done anything positive, however, the negatives in my view are jugular.
JohnDoe 8 years, 9 months ago on Police issue wanted bulletin for political activist Omar Archer Sr
Police issue wanted bulletin for political activist Omar Archer Sr
There is much to legitimately criticize the police about but not in this instance. In this instance they are doing exactly what they are suppose to do and would have been negligent if they had done nothing. It is precisely because this guy is a nut job that they had to do something. Events always occur in the backdrop of context, and context matters. Just suppose that he actually has a gun, talked about it on social media, actually hurt someone and the police waited until after the person was hurt to act. Some of the same folks on this blog would be here now calling the police all manner of derogatory names for their incompetence. The means must be congruent to the end. As much as you or me may want the PLP gone we must not encourage threats or insinuations of violence. That is not who we are!
JohnDoe 8 years, 8 months ago on Rating agencies told: ‘Stroke us with same Baha Mar whip stick’
Rating agencies told: ‘Stroke us with same Baha Mar whip stick’
The reason BahaMar would have factored in any downgrade in the first place was because of the sovereign/country risk posed not only by it's delay in opening but more importantly by the imprudent and obviously bias intervention of government in what was essentially a commercial contractual market based dispute. I find these comments from the Chamber particularly disturbing and misguided especially in light of the obvious what appears to be systemic corruption and conflict of interest charges being lobbied at Cabinet Ministers with respect to this BahaMar project. An environment of systemic corruption and conflict of interest by top ranking government officials alone is sufficient grounds to downgrade an economy because in such an environment self-enrichment of the political players is the most important incentive in decision making and not GDP growth, high employment or efficient use of VAT revenue.
JohnDoe 8 years, 6 months ago on Unlicensed dealers seize 40% auto market share
Unlicensed dealers seize 40% auto market share
Mr. Albury it is called competition and the free market forces of capitalism. Competition and free market forces level the playing field for consumers against entrenched oligopolies like Mr. Albury, Rupert Roberts and the other merchants who have failed to innovate and think they have a God given right to charge Bahamians high prices to purchase basic goods and services. We need more competition in this economy not less. Consumer taste with respect to automobiles have changed due in large part to the fact that the price that you charge for a new vehicle is out of the reach of the average Bahamian. What makes you so special to think that the government must intervene and disrupt free market forces on your behalf just because you do not have the business acumen to adjust your business model to be consistent with the current consumer market sentiment for vehicles. Put on your big boy pants and compete and stop crying like a crybaby.
JohnDoe 8 years, 6 months ago on Ex-Robin Hood owner is ‘done’
Ex-Robin Hood owner is ‘done’
You guys speak about the lack of access to risk capital as if it is merely an inconvenience. Proper functioning financial and market institutions that promote transparent access to capital, investments in physical infrastructure, technology and innovation are some of the primary drivers of aggregate supply in an economy which in turn drives the capacity and limits of GDP growth. This is a structural weakness in our economy and the primary reason why we have historically relied on FDI to finance GDP growth is that we lack the wherewithal and courage to confront and address the root cause of this structural weakness.
JohnDoe 8 years, 6 months ago on ‘Shot across the bows’ on Bahamas debt limit
‘Shot across the bows’ on Bahamas debt limit
The numbers don't lie and our current issue is not one of confidence but one of deteriorating fundamentals. The budget deficit is projected to be over 50% higher than earlier projections. Gowan Bowe, the purported strategic thinker says our fate with the rating agency will depend on how good of a story we have. That is the biggest joke every. During the recession between 2007 - 20012 HAI increased debt by $1.5Bn and he built roads and undertook other capital infrastructural projects. From 2102 - 2017 PGC would have added about $2.3Bn in debt and this is after after he introduced VAT, he invested zero in infrastructure and to top it off he wants to implement National Health Insurance. So if we collected $1Bn in VAT revenue then compared to HAI, PGC's nominal debt would be about $3.3bn. This ain't no perception loop or confidence referendum as if the rating agencies are unfamiliar with these facts. Bowe, in my view is more a talking head charlatan than a strategic thinker. We must remember debt is a dependent variable driven by the independent variable of our ever increasing deficits. What we are up against is much bigger than KPT, FNM or PLP. In short, the trending evidence suggest that at the current economic growth rate this country cannot sustain or support its recurring level of expenditures. This is all about our expectations as Bahamians, our desire to emulate the standard of living of our neighbors in the USA and our unwillingness to accept ultimate and personal responsibility for our affairs. The politician that explains that to us has zero chance of being elected. We prefer slick talking charlatans who will tell us that we can have our cake and eat it to.
JohnDoe 8 years, 6 months ago on ‘Shot across the bows’ on Bahamas debt limit
‘Shot across the bows’ on Bahamas debt limit
You are kind of missing the point. If you unilaterally breach a fundamental condition of a valid contract, then what do you think would happen? The prior government may have been corrupt and these contracts may have been self-serving but there are no legal or statutory constraints that would make these contracts void or voidable. That is first and foremost what needs to be changed asap. Successive governments have used the public treasury as a slush fund to finance their elections. This must stop.
JohnDoe 8 years, 6 months ago on ‘Shot across the bows’ on Bahamas debt limit
‘Shot across the bows’ on Bahamas debt limit
We were at this exact place 10 years ago with stop, review and cancel. If HAI was really serious about this he should have passed legislation making contracts executed 3-6 months before a general election voidable by the incoming government unless certain pre-defined criteria were met. If Minnis is serious and truly cares about electoral process reform and fiscal policy abuse he must pass this legislation now. That is what would imbue confidence from the rating agencies, our willingness to make systemic and structural decisions that will impact fiscal policy not just cuts from a stop, review and cancel look-a-like where the penalty for cancelling is just as much as the contract, if not more.
JohnDoe 8 years, 6 months ago on Former minister praises $1m culture consultant
Former minister praises $1m culture consultant
And therein lies the slippery slope because presumably both would have had valid contracts and Lunch Lady Reckley may have been able to put down a killer curry mutton.
sheeprunner12 8 years, 6 months ago on Former minister praises $1m culture consultant
Former minister praises $1m culture consultant
When you think about the Bahamas, you must know in its efforts to develop itself and create presentations that would be impactful, you need someone of high calibre," he said. "The individual who was recruited from UK, an outstanding Bahamian who was brought home by the former prime minister to serve in cultural development, played a major role in a number of things we did over the past several years, including directing the Cacique awards
Meanwhile, there is an entire Department of Culture with a slew of professionals and civil servants who must sit by and watch ONE "driftwood lover" get a $1million contract to do what they are mandated by the Cabinet to do .......... Perry & Obie did us wrong in so many ways
JohnDoe 8 years, 6 months ago on Sebas’s property group in ‘extraordinary growth’
Sebas’s property group in ‘extraordinary growth’
The story above is not about webshops directly but about economic activity related to physical infrastructural real estate investment and property development, construction activity, the utilization and employment of local professional services expertise, the utilization of other construction related labor resources and expertise, the procurement of building materials locally, FDI from foreigners investing in and purchasing finished condo units, the activation of domestic savings and investments from local who have purchased finished condo units and property management...... etc. Mudda has conveniently conflated the two to support his argument. However, in conflating the two he has inadvertently repudiated his own argument that Webshops suck capital from legitimate economic activity. I don't want to get too technical but in a very simplified form, to put the flow of money in an economy into an overall macroeconomic context, economist often use a tool called the national savings and investment identity which essentially states that the total quantity of financial capital demanded in a closed economy must equal the total quantity of financial capital supplied. The demand of financial capital in a closed economy comes from either government borrowing or domestic physical capital investments from businesses, similar to the above. The supply of capital in a closed economy comes from domestic savings and in an open economy it will also flow from foreign financial capital inflows. So in the example above you have a business making a physical capital investment in property development etc. Where is that supply of financial capital coming from? Based on the national savings and investment identity it must come from domestic savings. In this case it is the domestic savings of the webshops. I have simplified this example significantly and there are indeed other policy implications but I will leave that for another day. I too voted no in the referendum, but that does not give me or anyone a license to their own facts nor do I make any value judgement one way or the other. The real discussion should be about our abysmal domestic savings rate and about the failure of our legal and market institutions and intermediaries to facilitate transparent and fair access to capital and opportunities.
JohnDoe 8 years, 6 months ago on Drink makers fear ‘irreparable harm’ from Budget tariff cuts
Drink makers fear ‘irreparable harm’ from Budget tariff cuts
What he has done is provide a pretty accurate description of the headwinds facing local manufacturing. My experience has led me to believe that most local politicians have not grasped the simple fact that it is just not sustainable for our economy to continue to endlessly import basic goods or endure the uninterrupted balance of trade current account deficits without this permanently and negatively impacting the continued parity of the B$ to the US$, GDP growth and domestic employment rates. When we import, those dollars are lost forever to our economy. The real issue here is to ask the question, "what is the role of government and fiscal policy in an economy". The answer to that question provides an answer to the issue above. Can these local manufacturers really compete or are they really inefficient when the foreign firms have an absolute advantage because of the above structural weaknesses in our economy? We are running deficits between $300 to $500 million dollars a year yet no one can touch what we are spending this money on. If we can just focus a little of those dollars on fixing these structural issues then that alone would significantly expand the productive capacity of our economy.
JohnDoe 8 years, 5 months ago on Cooper says PLP should apologise and learn from errors that led to defeat
Cooper says PLP should apologise and learn from errors that led to defeat
An apology, though a good start, may not be sufficient here. It seem to me that it is time for the government to appoint a special body with a specific scope to organize these investigations and consolidate these findings with a duty to recommend further criminal/civil action to be taken and also recommend the structural, institutional and legal reforms necessary and required to be implemented to ensure that such blatant self-interest pandering and corruption never happens again in our country without dire consequences. People often wonder why our GDP growth is so anemic, and in fairness there are a number of reasons, but I am convinced that one of the primary reason is that for too long political actors have pursued economic policy decisions and laws based on their personal incentives for self gain, self-interest and corrupt practices. This is a self-inflicted wound and is just not sustainable.
JohnDoe 8 years, 11 months ago on Christie says NHI will boost nation’s economy
Christie says NHI will boost nation’s economy
This report from KPMG is nothing short of professional malpractice. While the report boost about the projected GDP growth benefit to the economy of $500 million in its headline, buried deep into the report is an opaque statement the the costs of implementing and executing NHI will actually exceed the $500 million dollar benefit to GDP. One may ask a common sense question like, "if the economic costs of NHI will exceed the economic benefits of NHI how then can KPMG claim that NHI will provide a GDP boosts to the economy". The answer is that KPMG can do so because of the manner in which GDP is calculated. GDP is only concerned about what is produced or demanded by society, it is not concerned about how that production is funded and therein lies the rub, What KPMG is not saying is how this $500 million increase in GDP is going to be funded and the reason for that is because it is likely to be funded by the government or by higher taxes. If it is funded by the government it will be exactly similar to the government giving a subsidy to the administrators and each patient of NHI how then in turn purchases medical services. In short a government funded social program or stimulus or whatever you want to call it. In this scenario GDP will increase but the national debt also increases at a time when we have just been downgraded for too much debt. This GDP increase will add nothing, zero, nadda, zilch to our sustainable economic growth or development and the costs of NHI due to the endemic free rider and moral hazard problems in the Bahamas will explode well beyond the $500 million projection leaving us with an empty bag of increased national debt to show for NHI. So KPMG and Christie shame on you for misleading the Bahamian people.