Archive for the 'Recession' Category

A Challenge for Comrade Roget

By Raffique Shah
April 16, 2017

Raffique ShahLet it be clear that I am not joining any chorus of condemnation of OWTU president-general Ancel Rouget for his remark on bpTT’s decision to have its Angelin gas platform fabricated outside of Trinidad & Tobago, “Take your rig and go!” As a former unionist, I fully understand and accept sloganeering, bravado, and even outrageous statements as legitimate tools of the trade.
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Pay the Devil

By Raffique Shah
September 17, 2016

Raffique ShahAnyone who believes that this Government can continue to spend money to fix the country’s many problems the way successive governments have done, seemingly forever, is either a fool or someone who regards us as a nation of fools.

The harsh reality we face is when the good times rolled, most of us, from politicians and the business elites to plebes and philistines, intoxicated by the flow of petrodollars, felt we could and should spend, spend, spend, and let the Devil take tomorrow.
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Half truths and manifestos

By Raffique Shah
Submitted: August 23, 2016
Posted: August 28, 2016

Raffique ShahI don’t know that the majority of people in the country are influenced in any way by the manifestos presented by various parties—in our case two, one from the UNC/PP and the other from the PNM.

In fact, I believe few people, likely less than ten percent of the electorate, read these voluminous documents. In my case, I sought the synopses of the presenters because I know they will have highlighted what they saw as the fundamentals of what they would implement if elected, and certainly their most marketable offerings.
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Sugar industry was doomed to fail

By Raffique Shah
Submitted: July 26, 2016
Published: August 01, 2016

Raffique ShahTrinidad & Tobago, as a very inefficient producer of sugar, relying heavily on preferential, prices for the commodity from Britain, and later the European Union, should have scaled back sugar production from the 1970s when the industry’s losses mounted year after year, soon to reach uncontrollable levels.
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No civility, much hypocrisy

By Raffique Shah
June 16, 2016

Raffique ShahIt would be asking too much of our politicians that they show some humility in their public lives. In fact, it will be true to say that, with precious few exceptions, politicians across the world are egotistical and arrogant, character traits that distinguish them from most ordinary human beings.

Lest I be accused of being unduly harsh on the men and women who offer themselves for high political offices, I ask that readers think of politicians you may know personally, contrast the genial soul you knew before he or she was elected or appointed to high office with the person you see (or saw) in office, lording it over lesser mortals.
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Grow up, take responsibility

Deyalsingh’s tough message after austere mid-term budget

By Adrian Boodan
Sunday, April 10, 2016 – guardian.co.tt

Terrence DeyalsinghIt’s time that nationals grow up and take some responsibility for T&T, says Health Minister Terrence Deyalsingh.

Deyalsingh was at the time fielding questions from the media when he attended a health and fitness fair hosted by the Couva Point Lisas Chamber of Commerce, on Saturday, at the Chamber’s building at Camden Road.
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Doomed to importing foods

By Raffique Shah
April 03, 2016

Raffique ShahRecently, there has been much noise over Trinidad and Tobago’s capacity to produce the foods that we eat.

I use the word “noise” instead of discussion or debate because so much of what is said and written is uninformed.
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NEW BENZ FOR PM*

Office of the Prime Minister orders $2 million vehicle for Rowley’s fleet…

Published on Apr 3, 2016, 12:01 am AST
By Anna Ramdass and Camille Hunte

Prie Minister Dr Keith RowleyA new Mercedes-Benz S-Class (W222) valued at $2 million has been purchased for the official use of Prime Minister Dr Keith Rowley.

The Sunday Express understands the vehicle was acquired through local dealer Sterling Services (Battoo Brothers) Ltd and was at the company’s Sackville Street, Port of Spain, garage up to yesterday, being customised for official use.
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Debt — legacy to our grands

By Ian Lambie
December 16, 2015 – newsday.co.tt

DebtWE SHOULD all be ashamed, whether we be parliamentarian or proletariat who elected them to Parliament and permitted them to do their own thing for five years, that our legacy to our grandchildren and to our great-grandchildren will be: debt.

Since 2009 and up to 2015, our country has been spending more than it earned by approving deficit Budgets, with one exception — in 2010.
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Recession was predictable

By Raffique Shah
December 07, 2015

Raffique ShahThis recession did not creep up on us like the proverbial thief in the night.

It was long in the making. In fact, from as far back as the global financial crisis of 2008-2009, when Clico collapsed and the price of oil plunged from a brief high of US $140 a barrel to $30, informed, patriotic citizens were warning governments to go easy on the wild spending, to set aside more savings in the Heritage and Stabilisation Fund, to wean the population off dependency on subsidies, and most of all to diversify the economy from its over-reliance on oil, gas and petrochemicals.
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