“Growth in tourism has not be sustained this year”
I need a rum!
Filed under Economy
Tagged as Barbados, Barbados Economy
All the lies and innuendoes that was told by The DLP to the voting public, and the vote buying, this is now the fruit of their labours. Tax payers beware higher taxes, and lay off in the public sector, and maybe a cut in civil service pay. What a mess, and a disfunctional set of politicians, that is suppose to be our people’s leaders. Laughable if it wasn’t so dismal for our small island, and for the future of our country.
@just want to know: tell it like it is.
The moment a central banker says “There is no need for an International Monetary Fund rescue mission.” it is already all over.
I will give it 6~9 months before they ask for help. They need it now but they will be stubborn and so it will only get worse.
24% of Govt revenue is going to interest payments, there will be a default and of course a nasty haircut for all bond holders shortly.
There will be another downgrade very shortly and that will be the final nail in the coffin.
Just for a change, fools running everything so there is only one way for this to end.
When I heard the Central Bank dud talking last night on TV
I thought the same thing: that’s what he’s SAYING.
It’s called Brave Talk!
Whistling as you walk thru the cemetery.
But doan dig nein.
No Confidence vote just now, and then fresh elections.
Did you all tink that february 21st..election day, dat whoever get in would receive billions of dollars….some barbadians are stupid…..one month and some, they expect some miracle…..everyting takes time…in greece it hard too..start prayin peple…stop complainin…it takes years to put on fat…and den we want to lose weight in three days…the only three day miracle was wen Jesus was risen..
If Tourism is down 7 to 8% from last year and last year was down 7 to 8% from the year before, does that mean the decrease from about 2 years ago is pushing 20%? Foreign exchange is going to become very scarce. Devaluation of the Barbados dollar going to be pushed by the IMF as a premptor to securing foreign exchange reservees. Think I will head to the GAP and start selling all my Barbados dollars and keeping the tradeable currencies I can get under my mattress till it all shakes out.
If you compare the two five year periods, 2003-2007 and 2008-2012, then we are down over 100,000 long stay visitors.
The critical factor over the latest figures is according to the Central Bank we are down 9 per cent in January and 9 per cent in February. These are TWO
(and you can add the second two weeks of December 2012) highest revenue peak winter months out of four. Traditionally highest room rates and highest occupancy. Its during a time when many hotels make any profits to carry them financially through the eight long softer summer months.
I heard a politician say some time ago the caribbean voting public are like mullets, it’s a fish that eat all the garbage that is thrown out even human waste. The votes in Barbados were bought with lots of money even the one that said he saw someone buying a vote. Go up to Brittons Hill and talk to the people there and they will tell you how much money they received. It is so obnoxious that it just make you feel sick that in Barbados this thing going on; the only thing I could say tighten your seat belts, we are in for a rough ride. The central bank governor is a puppet, and his strings are pulled by the DLP government. I trust that the money they received ( meaning the bought voters ) can keep them for the next few years.
Get ready Folks!
Reckless, profligate and unaccountable spending over the past decade and more by world wide financial institutions has resulted in the printing of money, euphemistically called “quantitative easing”.
As austerity did not work in Britain and elsewhere and could have led to civil unrest and worse, the only way out is to devalue the currency of those who have responsibly saved their money and paid their respective taxes on time for years in order to blindly hope to stimulate our way out of an even bigger disaster.
As for the trillions of Dollars sitting offshore, the G8 will have to devise equitable tax rules across the board for every segment of society. The problem is that most politicians do not have the comprehension of what can be done, what needs to be done, nor do they have the will. Self interest and short term gain will not permit the tough decisions to be made that need to be made.
The precariousness of the situation is best exemplified in the comparison of The Saving and Loans debacle in the U.S ( deregulation )in the 1980’s where some 13,000 people were charged for fraud and about 1,300 went to jail under Regan’s watch..
Thirty years later, with a world wide credit crisis and racketeering and fraud rampant, almost no one has been charged personally. Wall Street, Goldman Sachs and the like, call the shots. What does that tell you?
Meanwhile, back in the caribbean, whats happening with Duprey and Parris?
@SIT TIGHT: You know something that we plebs don’t?
Keep up this Tourism charade and see if this improves!
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