Archive for the 'Recession' Category

The Venezuela Myth Keeping Us From Transforming Our Economy

By Ellen Brown
February 09, 2019 – ellenbrown.com

USAModern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits. MMT expert and Bernie Sanders advisor Prof. Stephanie Kelton says the government actually creates money when it spends. The real limit on spending is not an artificially imposed debt ceiling but a lack of labor and materials to do the work, leading to generalized price inflation. Only when that real ceiling is hit does the money need to be taxed back, and then not to fund government spending but to shrink the money supply in an economy that has run out of resources to put the extra money to work.
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Think small, earn big

By Raffique Shah
January 03, 2019

Raffique ShahI could have begun the New Year by griping about all the negatives of the old, cussing from politicians to crooks for the many woes we citizens face daily, ranging from a record high number of homicides to a seemingly stagnated economy, arguing that the current government is the worst we have had since the indigenous peoples ran things however many centuries ago, blah, blah, blah.
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Poor People Fed Up

By Danielle Frederick
August 21, 2018

MP Fitzgerald Hinds on the runAs I watched the assault on the Member of Parliament for Laventille West and the Local Government Councillor for the area by their constituents on August 14, 2018, I was saddened by the knowledge that what was playing out was a culmination of long unaddressed social and political factors that none of the actors, on either side, would acknowledge long enough to address. Let me be categorical in my condemnation of the actions of some residents of Beetham Gardens towards their Member of Parliament and Local Government Councillor. These men, Minister Fitzgerald Hinds and Councillor Akil Audain, represented the entire political class, and those chasing them represented the underclass created and sustained, in part, by the political class.
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Go after State lands thieves

By Raffique Shah
June 07, 2018

Raffique ShahI was about to write a column on my concerns with the Valuation Division of the Ministry of Finance, which plays a critical role in the implementation of the new Property Tax, when I read the lead story in the Sunday Express that pertained to a number of “hanky-panky” deals involving the distribution of State lands by officials of the Division of State Lands, which falls under the Ministry of Agriculture.
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We must do, or die like stray dogs

By Raffique Shah
January 11, 2017

Raffique ShahIf fantasy could be magically transformed into reality, as Dictator-General of Trinidad and Tobago, I would harness the approximately $10 billion per year that is wasted on cigarettes, alcohol and gambling and put that money to productive use.

But then I’d be a dead dictator before I could even proclaim the prohibitions, since I verily believe that 90-plus per cent of my countrymen smoke, drink alcohol or gamble, and many of them engage in all three vices.
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A decisive year ahead

By Raffique Shah
January 04, 2017

Raffique ShahIF asked what is the number one problem facing the nation as we enter 2017, the overwhelming majority respondents would say violent crimes, especially murders. My beleaguered fellow citizens, having survived another bloody year during which killers showed utter contempt for law and order, see a slide into anarchy looming large.

But I submit that the perilous state of the economy is the biggest threat to national stability, and the Government’s apparent inability to formulate strategies and plans to resuscitate it is the gravest danger the country faces.
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Never lose human compassion

By Raffique Shah
September 28, 2016

Raffique ShahYou think we have problems in this country?

With days to go before Finance Minister Colm Imbert delivers the Government’s 2017 budget, Trinis by the thousand sit in bars across the country sipping beers or whisky, and amidst the din that is common to such establishments, shout to be heard: “Breds, we better drink up, yes…from Friday, we may not be able to afford Johnny Walker Blue!” Big problem, that.
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Pay hikes proposed for PM, Cabinet, Opposition

By Richard Lord
June 21, 2016 – guardian.co.tt

ParliamentFresh moves are underway to increase the salaries of the Prime Minister, cabinet ministers, the Opposition Leader and all other MPs.

This is as a Salaries Review Commission (SRC) consultant met with senior Government and Opposition MPs last week to initiate the process for the hike.
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Cooked books

Newsday Editorial
Friday, May 13 2016 – newsday.co.tt

THE BOOKS have been cooked.

TheftRecent disclosures to Parliament have led us to conclude that the State’s financial accounting is seriously flawed. The books have been rendered defective through suspect accounting practices, gaps in oversight of revenue, and the use of tactics that have the effect of masking shortfalls. The result? A distorted picture. A Budget statement every year, yet no true accountability.
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Millions on empty office buildings

Auditor General’s report laid in Parliament

Gail Alexander
Wednesday, May 4 2016 – guardian.co.tt

One AlexandraSeveral million was paid by various People’s Partnership government ministries in rent for certain unoccupied buildings over 2014 to 2015, including large sums for a St Clair property leased by the past People’s National Movement administration which the PP continued to pay for, according to the Auditor General’s latest report.
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