Message Board Archives

the 'D's don't want it, of course, and the 'B's organized it

some folks fed up with Freundel's casual attitude towards the downgrade

what's going on BIM???

In reply to Curtis

dem on the same level as Venezuela, Mozambique and the Republic of Congo.

Cash-strapped. dem bonds hit junk status!!!

dem printing money to pay the civil servants

central bank governor refused, dem fired him rass.

public servants will be in line for cuts and higher taxes soon

Moody says they are on the same level as Greece and Ukraine . not good news

tough times are ahead for lil england

Will more Bajans turn out for the March than those that went to Kensington Oval on Thursday?

In reply to sgtdjones
I guess the question is what can be done?

In reply to imusic

Yeah I think this march might generate more interest.

In reply to imusic

So you saying Bajans take serious issues seriously instead of turning curfew into parties?

In reply to Curtis

no quick fix for a situation as such.

you cannot keep printing money 60 million per month and stay afloat.

the PM must have a serious chat with the people of lil england

tell them the truth, at the moment they are projecting future funds

when your bonds become junk, you have waited too long to rectify the drag on the economy

lil england has about 10 weeks of funds US left

lil england doesn't make products for internal demands

why isn't agriculture at the top, summer all year long, dem buy stuff from abroad

4 years ago they would have had the chance to stop the bleeding instead they ignored it

The people of Barbados are about to feel the pain

The government is spending more than it receives if you do that what will happen?

IMF is circling, devaluation will be next

nasty time is ahead.

In reply to sgtdjones
This Govt taking blame. Mia Cares. What next?
What can the BLP do that the Dems can't with elections close to 11 months away?

In reply to Curtis

Good question. ...The answer is blowing in the wind

In reply to FuzzyWuzzy

you would think its a good question.

Clearly you would have said the same thing to Ghandi and Martin Luther King.

carry on

In reply to Curtis

People Fed Up and they came out in thousands yesterday.

People from all walks...some who couldnt even walk were there and it was but a small step in sending a message to the jokers in power.

DLP - Dem Lying Peeps - sign of one of the protesters - what did they lie about? They misled the nation?

In reply to Curtis

clearly you aint a Bajan...

go look up the IMF report for the past 5 years and juxtapose it with what they have been saying.


thats one place to start...

but easier examples are...NO layoffs...BLAM! 3000 gone!

Education will remain Free...BLAM!!! EVERYBODY gats to pay!!

CLICO issue solved..you will be paid by June of this year...the year? 2013...from Minister of Finance..I was present..and a numerous heap of other unfulfilled promises...

the only thing they have lived up to is ...WE will tax you...and boy they have!

even then..they said..this is temporary..Heck no..Taxes still murdering the Ppl...Middle class savings wiped out.

In reply to powen001

The PM is hiding n letting everybody else give out the bad news.

The government was keeping the financial position of the country for years, secret

Taxes are always temporary; it's just they fergats to rescind it.

u owe according to some reports 120% of your GNP as debt

to service such will take a large chunk of your yearly budgets
they have hampered future generations with such debt.

u didn't have a savings funds when things were flourishing

u will have to sell State assets for a quick temporary cash flow

u will have to layoff many more workers, this gets the citizens
concerned and they don't go out and spend as they would normally affects economy

The economy will shrink, yet expenses keep rising, printing more money
will reduce your US dollars. One basket economy tourism.

Trump policies will hinder tourists traveling from America.

Balance budget required asap resulting in higher Taxes , layoffs , cutback in services
it's is not a pretty situation.

The govt made a critical move great for elections get a former PM from the opposition
to chair a commission. After a year when the budget is being balanced and citizens feeling
the pain. It's election time, what do you think the Govt will say in its platform to the
people. Former PM made a mistake in joining commission, things cannot be changed in a year

It will take about 5 plus years to turn things around, a lot of people will get hurt and destroyed.

Interesting times lie ahead, Caricom countries should be very concerned as this will affect
us all.

In reply to sgtdjones

Sarge steelbeam. You are beginning to sound sensible. Lets see if it continues

In reply to sgtdjones

Sarge, can Barbados handle a devaluation?

In reply to sgtdjones

Sgt Jones...

You erred in Fact...dont mind the applause above...

Owen Arthur was asked by Chris Sinckler andrejected by Freundel.

That very request has caused tremendous chaos among the DEMS...

Donville Inniss is separating himself yet again...like Estwick and being not so subtle about showing up the PM.

It will take more than 5 years but yeah..check your facts first so you would nt get called for a NO BALL mate.

In reply to powen001

powen

what I was noted were not specifics just a summation.
notice I didn't mention names.

A former PM now the opposition n now an independent

called in to chair a commission for the government

we know an election due in about 12 months approx

a report is handed in, not sufficient time to be implemented

Just think what the ruling Government will say during the elections.

The perception can lead to a lot of allegations that will not benefit the opposition.

no facts to check I didn't over step. U are on another tangent .

In reply to sgtdjones

ahm...
you dealing in what ifs

and Im stating what is actually happening...

there in lies the difference mate...

no tangent here unless you plan to follow up with the secretarys claim that all Marchers were paid to March too.

In reply to powen001

as a neutral party, I am not involved in specifics, I dont have the abilty to see ahead.

it's wise to use what ifs . I am just saying that the present govt will have a loaded
pistol to use should it seem necessary .

Should they come out with such "WE had their best leading the commission and look where we are still"

how do u address such ?

In reply to Curtis

This is a difficult question to answer I can give you an idea what devaluation entails

Ever since world currencies abandoned the gold standard and allowed their exchange rates to float freely against each other, there have been many currency devaluation events that have hurt not only the citizens of the country involved, but have also rippled across the globe . So why do they do it



There are, however, some negative effects of devaluations.Countries can follow your lead, the end result
a trade war.

Iceland and Ireland both had economic disaster only Iceland has recovered.

Both countries banks when bust , IMF came in.

Iceland got an infusion of 4.6 Billion. IMF 2.5 Billion its neighbors the rest.

Its currency collapsed, made the country more competitive and allowed it to rebound .

Iceland cut its budget sharply, moved interest rates to 18%

Iceland has its own currency , Ireland the Euro.Iceland's recovery has become a myth wrapped in a legend inside a legend. It let its banks fail, slashed household debt, let its currency collapse, put capital controls in place—and now it's doing better than those countries that did austerity!

The lesson is that in a crisis—don't forget those three words—you can get a lot of things wrong and still be okay as long as you default and devalue. You can do a lot of austerity and make life impossible for borrowers and prevent people from investing in your country for years longer than you probably should have.



Now can lil england do such only time will tell.


wher is Piton rock he will be here soon.

Free plagiarism checker.

Everyone should have one of these plagiarism checkers for academic purposes.

Investopedia.com here I come.

The following is the original unabridged version of the post above under reference:

NB This post has since been tampered with (the newly quoted section) but this alteration still does not conform to literary and ethical standards and gives absolutely no credit to investopedia.com where this quoted section has been plagiarized.

sgtdjones Joined: Feb 16, 2017
Posts: 276 3/14/17 4:08:55 PM
In reply to Curtis

Sarge, can Barbados handle a devaluation?



This is a difficult question to answer I can give you an idea what devaluation entails

Ever since world currencies abandoned the gold standard and allowed their exchange rates to float freely against each other, there have been many currency devaluation events that have hurt not only the citizens of the country involved, but have also rippled across the globe . So why do they do it

Boost Exports

Goods from one country must compete with those from all other countries. When a currency is devalued products will be effectively less expensive than they were before for export .

Lowering Trade Deficits

We hope that exports will increase and imports will decrease. Exports becoming cheaper and imports more expensive.

Economic theory, however, states that ongoing deficits are unsustainable in the long run and can lead to dangerous levels of debt which can cripple an economy. Devaluing the home currency can help correct the balance of payments and reduce these deficits.
Devaluation also increases the debt burden of foreign-denominated loans when priced in the home currency.


Sovereign Debt Burdens

On Occasions Government can be incentivized to encourage a weak currency policy if it has a lot of government issued sovereign debt to service on a regular basis. If debt payments are fixed, a weaker currency makes these payments effectively less expensive over time.

Caution is required with such a tactic. As most countries around the globe have some debt outstanding in one form or another, a race to the bottom currency war could be initiated.

Conclusion
Currency devaluations can be used by countries to achieve economic policy. Having a weaker currency relative to the rest of the world can help boost exports, shrink trade deficits and reduce the cost of interest payments on its outstanding government debts.

There are, however, some negative effects of devaluations.Countries can follow your lead, the end result
a trade war.

Iceland and Ireland both had economic disaster only Iceland has recovered.

Both countries banks when bust , IMF came in.

Iceland got an infusion of 4.6 Billion. IMF 2.5 Billion its neighbors the rest.

Its currency collapsed, made the country more competitive and allowed it to rebound .

Iceland cut its budget sharply, moved interest rates to 18%

Iceland has its own currency , Ireland the Euro.Iceland's recovery has become a myth wrapped in a legend inside a legend. It let its banks fail, slashed household debt, let its currency collapse, put capital controls in place—and now it's doing better than those countries that did austerity!

The lesson is that in a crisis—don't forget those three words—you can get a lot of things wrong and still be okay as long as you default and devalue. You can do a lot of austerity and make life impossible for borrowers and prevent people from investing in your country for years longer than you probably should have.

Now can lil england do such only time will tell.

In reply to Courtesy

It's just Economics 101 ya know.

I recon in pharmacy it's counting to 100 matters.

Piton Rock head ya real nervous

Oh Gord 50 CM OF SNOW.

jadee/socawarrior notice ah signed off for ya ?

Bumped to expose a fraud and pretender.

In reply to Courtesy

Piton

I did a course in Economics 101 and was given such as notes

I only quoted it . I never claimed to write it

I no ya not to brite ya missed the quoted part

sorry ta disappoint ya

The following is the original unabridged version of the post above under reference:

NB This post has since been tampered with (the poster has now quoted a section) after my post, but this alteration still does not conform to literary and ethical standards and gives absolutely no credit to investopedia.com where this quoted section has been dastardly plagiarized.

In a nutshell, the poster has plagiarized material from Investopedia.com and presented it as his own.

...................................

Screen shot below you will observe NO QUOTING WHATSOEVER:

sgtdjones Joined: Feb 16, 2017

In reply to Curtis

Sarge, can Barbados handle a devaluation?



This is a difficult question to answer I can give you an idea what devaluation entails

Ever since world currencies abandoned the gold standard and allowed their exchange rates to float freely against each other, there have been many currency devaluation events that have hurt not only the citizens of the country involved, but have also rippled across the globe . So why do they do it

Boost Exports

Goods from one country must compete with those from all other countries. When a currency is devalued products will be effectively less expensive than they were before for export .

Lowering Trade Deficits

We hope that exports will increase and imports will decrease. Exports becoming cheaper and imports more expensive.

Economic theory, however, states that ongoing deficits are unsustainable in the long run and can lead to dangerous levels of debt which can cripple an economy. Devaluing the home currency can help correct the balance of payments and reduce these deficits.
Devaluation also increases the debt burden of foreign-denominated loans when priced in the home currency.


Sovereign Debt Burdens

On Occasions Government can be incentivized to encourage a weak currency policy if it has a lot of government issued sovereign debt to service on a regular basis. If debt payments are fixed, a weaker currency makes these payments effectively less expensive over time.

Caution is required with such a tactic. As most countries around the globe have some debt outstanding in one form or another, a race to the bottom currency war could be initiated.

Conclusion
Currency devaluations can be used by countries to achieve economic policy. Having a weaker currency relative to the rest of the world can help boost exports, shrink trade deficits and reduce the cost of interest payments on its outstanding government debts.

There are, however, some negative effects of devaluations.Countries can follow your lead, the end result
a trade war.

Iceland and Ireland both had economic disaster only Iceland has recovered.

Both countries banks when bust , IMF came in.

Iceland got an infusion of 4.6 Billion. IMF 2.5 Billion its neighbors the rest.

Its currency collapsed, made the country more competitive and allowed it to rebound .

Iceland cut its budget sharply, moved interest rates to 18%

Iceland has its own currency , Ireland the Euro.Iceland's recovery has become a myth wrapped in a legend inside a legend. It let its banks fail, slashed household debt, let its currency collapse, put capital controls in place—and now it's doing better than those countries that did austerity!

The lesson is that in a crisis—don't forget those three words—you can get a lot of things wrong and still be okay as long as you default and devalue. You can do a lot of austerity and make life impossible for borrowers and prevent people from investing in your country for years longer than you probably should have.

Now can lil england do such only time will tell.

In reply to Courtesy

The above is noted in quotation

I was given such as notes when I did an Economics 101 course

I didn't claim to write it

ya satisfied

as a newbee I am learning how tings are done on this forum

I even had afew threads go missing and dont know why ?

satisfied Piton head

In reply to sgtdjones

Sounded like what Donald Trump said yesterday...

Missed the quoted part!!