Category Archives: Economics/Finance

Legalization of Marijuana: April 13, 2017…. D- day for Canada – By Yvonne Sam

Legalization of Marijuana: April 13, 2017…. D- day for Canada

By Yvonne Sam

Canadian legalization of marijuana translates into violation of International Drug Laws. A bold move on the part of Prime Minister Trudeau—seemingly unaware of the ensuing ramifications?

On April 13, Prime Minister Justin Trudeau sent Canada and its citizens into a hypnotic frenzy by making good on his high-profile campaign promise—the passing of a Bill legalizing marijuana for recreation purposes, making Canada the first developed country in the world to legalize pot since the international war on drugs began in the 1970s. This stunning announcement can be juxtaposed for its truth and applicability to the sayings of Savoyard lawyer, historian and philosopher Joseph Le Maistre, “that every nation gets the government it deserves, and Alexander de Tocqueville, the famous French political thinker and historian,  speaking in the Chamber of Deputies just prior to the outbreak of the European Revolution who said: “We are sleeping on a volcano… A wind of revolution blows, the storm is on the horizon.    Continue reading

The “Terrorism of Money” and the Global War On Cash: Target India – Part I

The “Terrorism of Money” and the Global War On Cash: Target India – Part I

The big bankers of the world, who practice the terrorism of money, are more powerful than kings and field marshals, even more than the Pope of Rome himself. They never dirty their hands. They kill no-one: they limit themselves to applauding the show. Their officials, international technocrats, rule our countries: they are neither presidents nor ministers, they have not been elected, but they decide the level of salaries and public expenditure, investments and divestments, prices, taxes, interest rates, subsidies, when the sun rises and how frequently it rains.     Continue reading

Cut Wages, Not Jobs, Caribbean Economist Advises Barbados

Cut Wages, Not Jobs, Caribbean Economist Advises Barbados

CARIBBEAN360APRIL 11, 2017 – from Barbados Today

Marla Dukharan

BRIDGETOWN, Barbados, Tuesday April 11, 2017 – It’s a recommendation that will not sit well with trade unions in Barbados. But a noted Caribbean economist is recommending that the Freundel Stuart administration reduce public sector wages to help deal with the country’s economic problems.

This, according to Marla Dukharan, would be a better alternative to further reducing the workforce.

Presenting an outlook of the Barbados economy in the April 2017 RBC Caribbean Economic Report, Dukharan pointed to the high public service payroll, as well as grants to state agencies and high interest payments as some of the challenges facing Government, which has yet to find an answer to the struggling economy.    Continue reading

World Bank: Caribbean Should Spend Better, Not More

World Bank: Caribbean Should Spend Better, Not More

CARIBBEAN360  APRIL 9, 2017

WASHINGTON, United States, Sunday April 9, 2017 – Amid concerns about high spending by some Caribbean governments, the World Bank says there’s nothing wrong with spending. But rather than spend more, they need to spend better.

It says Latin America and the Caribbean can dramatically improve its infrastructure by better assessing priorities and improving spending efficiency.

In an April 7 report titled “Rethinking Infrastructure in Latin America and the Caribbean – Spending Better to Achieve More”, the World Bank argues that although the region trails others in infrastructure investment, it should focus on spending better before thinking of spending more.   Continue reading

Foreign Exchange: ‘Incestuous conduct’ between banks and big companies in Guyana – accountants

‘Incestuous conduct’ between banks and big companies needs urgent attention – accountants

Apr 02, 2017  Kaieteur News – By Kiana Wilburg 

Christopher Ram

Over the last few weeks, there have been expressed fears fuelled by fluctuations in the foreign currency market and the nation’s economic stability as a whole. While the Government has been making moves to quell all concerns, local financial analysts believe that there is another potentially huge problem that must be given attention.
The matter surrounds the impact of big businesses in Guyana and their controlling interest in commercial banks. Speaking to the matter recently was Chartered Accountant and Tax Advisor, Christopher Ram.
Ram cited three major conglomerates – Banks DIH Limited, the Beharry Group and Demerara Distillers Limited (DDL).    Continue reading

Are we wasting foreign currency? – by Adam Harris

Are we wasting foreign currency?

Adam Harris

Guyana spends a lot of money on food imports, although the country is considered one of the more self-sufficient countries in the region. It can actually feed itself but then again, with disposable income people tend to seek a few luxuries.

I still remember the hullabaloo when there was what was called import restriction. The foods in this category were potatoes, sardines, salt fish, split peas and other lentils and of course, wheat flour. Needless to say, the hue and cry that went up was deafening. People started to complain that they were being starved.   Continue reading

Guyana: THE FALLING DOLLAR – commentary

Guyana: THE FALLING DOLLAR

Something is terribly wrong in Guyana. The value of the currency has plunged. But then again, this has been a trend dating back more than four decades. This is happening because we remain primary producers even as the world makes huge profits from primary products and return the refined product to the producers of the primary products.

It is critically important to understand precisely what makes the economy tick, and how different components must work with each other to produce positive outcomes. The Finance Minister was crucial to the budget presentations during the previous administration. When the situation worsened he was there when the then President Bharrat Jagdeo opted to close two sugar estates—at LBI and at Diamond.  Continue reading

US ECONOMY- DANGER SIGNS– Essential Insights on Time – Dave Gonigam

March 13, 2017 – 5 Minute Forecast – Essential Insights on Time – Dave Gonigam

This is getting real old, real quick…

The USA Debt Reduced by More Than $ 60-Billion Since the Inauguration of President Donald Trump

President Donald Trump

The preceding appeared Friday (March 10, 2017), at one of the more infamous websites that belong to a portion of the mediasphere that one wag labeled “InfoTrump” — a funhouse mirror image of the blinkered mainstream in which the “outsider” president can do no wrong.

Now, it’s true that if you look at the U.S. Treasury’s “Debt to the Penny” website, the national debt has declined since Trump took office.      Continue reading

The Netherlands: Moving away from Globalization – By Afshin Molavi

The Netherlands was once a liberal force for globalization. Has the country lost its way?

By Afshin Molavi Global Opinions  – March 12 at 8:08 AM

Photo: Geert Wilders, leader of the Party for Freedom, in Schiphol, Netherlands, last year. (Michael Kooren/Reuters)

AMSTERDAM — Tucked away in a side street across from a hip clothing store, a Surinamese restaurant and a marijuana shop selling bongs and cannabis-infused tea, a monument to our global, interconnected economy and our modern way of life is largely ignored by passing tourists, students and locals. It’s no exaggeration to say that modern market capitalism was born on this spot on this month, exactly 415 years ago, when a trading company known as the Verenigde Oostindische Compagnie — the United East India Company — was born.      Continue reading

The View from Europe: Responding to the coming trade disorder – By David Jessop

The View from Europe: Responding to the coming trade disorder

Published on March 11, 2017 – By David Jessop

David Jessop

  • A few days ago, an astute observer of the US political scene told me: “Watch what the new administration and Congress does, not what the president tweets. That is the secret of understanding future US policy.”

If this is correct, the Caribbean should ignore the noise and think hard about the implications of a nine-page document sent on March 1 to the US Congress by the office of the US Trade Representative (USTR). It makes clear the radical ambition of new administration.

In stark and confrontational terms, it sets out the president and his advisers’ zero-sum thinking on trade.     Continue reading

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