Category Archives: Economics/Finance

Having more no longer satisfies us, perhaps we’ve reached ‘peak stuff’

If having more no longer satisfies us, perhaps we’ve reached ‘peak stuff’

Sunday 31 January 2016 

Societies must learn to use economics to help provide purpose and fulfilment

stuff imageReal men don’t eat quiche. Real economists don’t ask questions about happiness. The economy pumps out goods and services, all of which create jobs and incomes. There is no value judgment in such a statement, no view of what constitutes the good life. Even to invite such a question of an economist is to risk ridicule. The task of economists – a value-free quasi-science – is to make sure that as little as possible gets in the way of turning inputs into more outputs.

But around the developed world consumers seem to be losing their appetite for more. Even goods for which there once seemed insatiable demand seem to be losing their lustre. Continue reading

Nigeria’s economy – Hope the naira falls – The Economist Magazine

 Nigeria’s economy – Hope the naira falls

President Muhammadu Buhari is repeating an economic error he made as dictator 30 years ago

Muhammadu Buhari

Muhammadu Buhari

Jan 30, 2016 – The Economist Magazine

Now he is president again. (He won a fair election last year against a woeful opponent; The Economist endorsed him.) And once again, oil prices have slumped, from $64 a barrel on the day he was sworn in to $32 eight months later. Growth probably fell by half in 2015, from 6.3% to little more than 3% (see article).    Continue reading

Global inflation – Low and behold – commentary by The Economist

Global inflation – Low and behold

Another year of low prices will create strains in the world economy

ECONOMISTS don’t forecast because they know, said J.K. Galbraith; they forecast because they’re asked. A question that is increasingly put to them is whether inflation, which has been remarkably quiescent for years, will spring a surprise in 2016.

After all, the debt troubles that have weighed down rich economies since 2007 are fading; labour markets in America, Britain and Germany are increasingly tight; housing markets are gathering steam; and the Federal Reserve has just raised interest rates for the first time in almost a decade.  Continue reading

Banks, The Caribbean Diaspora And Remittances – By David Jessop

Banks, The Caribbean Diaspora And Remittances

David Jessop

David Jessop

Published on Jan 11 2016 – By David Jessop

News Americas, LONDON, England, Tues. Jan. 12, 2015: Imagine this! You, a partner or family member is working overseas. You have been sending money home to support an aging relative or to make a regular payment on a mortgage.

You go to the Caribbean money transfer business that you have always used, only to be told your money can no longer accepted because there is no intermediary bank in Europe or the US willing to work with it despite its absolute reliability and positive track record.    Continue reading

Brazil’s woes to persist in 2016 – By Rosaliene Bacchus

Three Worlds One Vision

Brazil President Dilma Rousseff - Planalto Palace - Brasilia - September 2015

Brazil President Dilma Rousseff
Planalto Palace – Brasilia – September 2015
Photo Credit: Reuters/Ueslei Marcelino

Since Brazil lost the 2014 FIFA World Cup, the country has endured even more woes that now threaten the upcoming Rio 2016 Olympics.

Fallout from ongoing investigations into the Petrobras graft scandal aggravated an already sputtering economy, partly due to a weak global commodity market. The government’s efforts to cut public spending hit workers hard, sending them into the streets in protest. Riding on the wave of public discontent, the right-wing opposition party called for the impeachment of President Dilma Rousseff. This has further increased the country’s political instability.

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China’s market meddling – The control quagmire – The Economist

China’s market meddling – The control quagmire

A desire to limit volatility is giving rise to even bigger risks

“LOVE is like war: easy to begin but very hard to stop,” observed H.L. Mencken, an American writer. Less poetically, he might have added market meddling to the mix. China had planned this week to dismantle some of the rescue measures put in place when the stockmarket crashed last summer. That prospect helped to spook investors: stocks fell by 7% on January 4th, the first trading day of 2016, their worst-ever start to a new year. Chinese regulators are once again wading in, however haplessly—on January 7th, shares dropped by another 7%.   Continue reading

Guyana -FBI gets involved as 15,000 ounces of illegal gold leave Guyana weekly – Trotman

FBI gets involved as 15,000 ounces of illegal gold leave Guyana weekly – Trotman

Raphael Trotman

Raphael Trotman

 Some 15,000 ounces of raw gold are being transported out of Guyana weekly, says Natural Resources Minister Raphael Trotman who disclosed that the Federal Bureau of Investigation and United States (US) Homeland Security are looking into the issue.
According to Trotman, on an annual basis some 50%-60% of Guyana’s real gold productions is smuggled out of the country, which would take production levels to just under one million ounces.  Continue reading

Guyana – Trotman says 2016 is year to ‘straighten out’ mining sector

Trotman plans to bury corruption — says 2016 is year to ‘straighten out’ mining sector

Governance Minister Raphael Trotman

Natural Resources  Minister Raphael Trotman

 RECAPPING his initial six months in office, Minister of Natural Resources, Raphael Trotman, described it as challenging and a “trying, difficult process of bringing things in order”.He described what was inherited as “disorder, not only in (the) mining sector and forestry, but in other places”.

He praised his staff as willing, adding that they were all working to pull things together.

In regard to the mining sector, Minister Trotman said he, like many others, viewed the industry with a “sense that things were not right”, despite the glamour and glitz that is often associated with it. He noted that there were all kinds of anecdotes, such as “bribes being paid; small miners being run off land; and processing of papers taking weeks, instead of being done in days”.   Continue reading

Guyana – Government News Brief January 4, 2016

Government News Brief January 4, 2016

Guyana Gold Board records 451,490 ounces -exceed 2015 target

Gold Board records 451,490 ounces -declarations exceed 2015 target

Despite  a significant drop in gold prices on the world market, and challenges in the mining sector over the past year, the Guyana Gold Board (GGB) has recorded 451,490 ounces of declared gold, surpassing this year’s target of 380,000 ounces, government announced Thursday.

With the declarations, the GCB has recorded export earnings of approximately US$500 million, making the mineral, once again, the largest earner of foreign currency for Guyana.   Continue reading

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