UPDATED: November 9, 2010
The next time we have an election, I’d like to ask each BLP candidate if they, or any of their family members or friends, have a direct or indirect interest in any of the following companies…
ABC Project Corporation
Barbados Correction Corporation
Whitepark Development Ltd.
Hey… we’re only asking!
Feel free to add your comments and expand the list.
Original article published on October 3, 2007…
Total Barbados Debt Owed Or Guaranteed Exceeds 90% Of GDP!!!
What would you call parents who borrow money that their children – not the parents – will have to repay when they reach adulthood? Especially if the money was borrowed for depreciating assets like a fancy new BMW car or even to host a fabulous cricket party the likes of which will never be seen again?
When you are the government, you have two major options: a/ spend only what revenues you have, or b/ spend more than you have while unloading the increasing debt onto future generations of citizens and politicians.
The current government of Barbados continues to borrow and spend, spend and borrow even though they have already taken our national debt and indebtedness into the stratosphere. Even worse, our leaders have been creatively hiding debts and delaying payments so much so that many of our debts will not even become known to citizens until the current crop of politicians are safely sipping champagne at their new Swiss retirement homes.
New Companies Spring Up In The Middle Of The Night
As Patrick Hoyos points out in his article The Barbados government’s total guaranteed debt doubles in just two years much of our country’s debts are mysteriously owed to companies that spring up in the middle of the night. Companies whose sole purpose is to be paid vast sums of tax dollars far into the future. Continue reading