Daily Archives: July 26, 2012

Future Centre Trust needs hands Saturday morning!

The Garden is going well!

The Future Centre Trust’s last Saturday in the garden was so successful I just wanted to let you all know how well the garden is going and invite you to our next garden day this Saturday the 28th of July. Julia, Paula and Lorraine have done such a great job so far. They have developed the banana circle, developed a list of plants and trees on site, worked with a landscape architect to create drawings for the garden, developed a veggie plant list for us to procure and helped the FCT find buyers for our produce.

This weekend we will be further developing the beds and mulching as well as planting our new veggie seedlings. As part of our research into organic and Permaculture methods we will be conducting a study on what works to keep away the snails. Lorraine will be using copper wire to  keep the snails away, this will be our experimental group, while we have a regular controlled bed to see if the copper wire solution works. additionally, we will be employing some other methods to keep the snails away, if you have any ideas please share them with us.
Please join us in the garden this Saturday the 28th of July from 7:30am to 11am. Please bring your hats, water and garden tools with you if you have them.
Looking forward to seeing you all in the garden.
Your supportive and ever uplifting friend.
Lani Edghill
Green Business Barbados Coordinator
The Future Centre Trust
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Filed under Agriculture, Barbados, Environment

Barbados S&P downgrade all about CLICO and government raiding NIS pension to ‘invest’ in Four Seasons

“Countries with low ratings, including Barbados, are shunned and as a result attract high borrowing rates from financial markets. This phenomenon worsens a country’s fiscal position as higher interest rates eat up more of national revenues that would otherwise be available for expenditure on social services, infrastructure, health and education etc.

The important observation by S&P is that Barbados’s problems are not solely related to the very weak global economy.”

… Peter S. Boos talks about how the rest of the world sees Barbados

In BFP’s recent article Debt Tsunami drowning Barbados: Standard and Poor’s downgrades to junk status we zeroed in on the fact that Standard & Poors’ downgrade of Barbados specifically mentioned the government’s ill-advised raiding of the NIS National Insurance Scheme to carry portions of the national debt burden. We also talked about the impact of the CLICO collapse on the national economy and debt. These decisions by the current government of Barbados seem rather unwise to us… but what do we know? We’re only the poor citizens who have to carry the burden created by our leaders.

It seems though that others recognize the folly of the decisions by the DLP government. Listen to what Peter Boos has to say, and what Standard & Poors’ thinks of the decisions of the Barbados government…

In his writings for the last year or thereabouts, Peter Boos is appalled that the Barbados government should use monies from the NIS to prop up a failed Four Seasons project.

Lest we forget, the reason that the Four Seasons project collapsed in mid-building is that private money does not see it as a winner. Private money ran from the Four Seasons – and that is a clue about the project’s viability. Of course, the politicians do not have the same accountability as the private markets: they can always BS their way to re-election while the real world lives or dies on actual performance.

Standard and Poors’ were also appalled by the rape of NIS funds and by the CLICO fiasco that added immeasurably to our national debt. We don’t even know how much the final bill will be! As we’ve said before it’s a good thing for David Thompson’s legacy that he died and therefore can’t be prosecuted for his personal role in the CLICO mess.

Not that Barbados has ever prosecuted any politician for conflicts of interest or profiteering from a government position.

The whole thing stinks, and Peter Boos explains some of the reasons for the smell in his latest at Barbados Today. You should read the article online at Barbados Today, but we have to print the whole thing because of the Bajan news media’s habit of revising history to suit political agendas.

Here we go…

A blow to our reputation

The recent S&P downgrade of Barbados is extremely damaging to Barbados and its hard earned reputation as a well managed economy.

Countries in the top tier of economic management with high investment grade Sovereign Credit Ratings (provided by S&P, Moody’s, Fitch etc) attract the greatest interest from investors, the ultimate source of wealth creation.

Countries with low ratings, including Barbados, are shunned and as a result attract high borrowing rates from financial markets. This phenomenon worsens a country’s fiscal position as higher interest rates eat up more of national revenues that would otherwise be available for expenditure on social services, infrastructure, health and education etc.

The important observation by S&P is that Barbados’s problems are not solely related to the very weak global economy. Continue reading

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Filed under Barbados, Business & Banking, Economy