…on the economy
Jordan’s 2018 Budget makes it clear – once again – that for the past three years, the economy’s been bereft of any hand on its till. So, rudderless, we slip and slide, as the external and internal economic waves buffet – and sometimes – batter us. It seems the APNU/AFC Government believes the “invisible hand” of Adam Smith – the market, actually means the “absent hand” of government.
But with this lot, especially Jordan, one would be giving them too much credit to even assume they’re “market fundamentalists” who believe in a “night-watchman” government. But you never know! Yet, since in his Budgets up to now, Jordan has had to follow tradition and offer a survey of the global economic scene, so how can he ignore his own statements about the abandonment of the neo-liberal market fundamentalist shibboleths by the West after their economies crashed in 2007?
Hasn’t Jordan noticed that Keynes is back in fashion and even the US has had to engage in deficit spending to stimulate its economy? The (economic) word is now “stimulate, baby! Stimulate!!” And where does Jordan get the money? Does he remember the US debt is 106 per cent of its GDP? So, why does he have to strangle ours at 45.2 per cent? He doesn’t even have to be a believer in Modern Monetary Theory (MMT) with its principle of Overt Monetary Financing – which holds that once we’re issuing our own currency, debt can be covered via the printing presses.
Has he noticed the US had bailed out its car industry – which all the pundits had declared was too “inefficient” against global competition? Rings a bell? Does he get it that “too big to fail” may also have something to do with keeping citizens employed? So why should Guyana abandon sugar when the US intervened to save its car industry? But the problem with this government is it really doesn’t care about (some) ordinary people. So even if the tools are out there to fix the economy, it’d rather just go with the flow. Even though the flow is inexorably taking us over the economic waterfalls.
When the PPP was delivering consistent annual five per cent GDP growth, APNU and the AFC complained it would take us decades to catch up with neighbours like Trinidad. We needed at least 10 per cent growth rates. And that was true! So how come Jordan’s now telling us we should be satisfied with 3.8 per cent growth rates – which inevitably have to be revised downwards?
In any other country where folks don’t vote according to their racial/ethnic ascription, this PNC-led APNU/AFC coalition would’ve long been yesterday’s news.
And that’s why stimulus spending – which would benefit business, ain’t gonna happen!
…to strike again
Seems Smart City’s back for the kill on the Parking Contract – on which they had to roll over and play dead until the citizens’ fury – via MAPM – died down! A committee of seven City Councillors will be “renegotiating” with Smart City on our behalf. And as sure as the sun’s gonna rise in the East tomorrow, we’ll have a repeat of Trotman’s ‘renegotiating” the oil contract with Exxon!
Meaning we’ll have some ridiculous statement like we “doubled” the number of free parking the city’s allowed in front of schools, etc! Which ain’t worth squat as far as filling the city coffers, bare as usual, like Mother Hubbard’s cupboard! The Meter Contract is null and void (ab initio, as Basil is wont to say to show he’s a lawyer!!) since the Gang of Four weren’t authorised to sign it in the first place.
But those fellas from Smart City filled a lot of pockets to get that contract. And they have to get their pound of flesh!
…on dictatorial behaviour
Minister Bulkan advised the Reg 2 REO to “apologise” for saying “I am the REO. I am in charge of this region. You tell anybody I say so…”
But closer to home, isn’t this what Town Clerk King’s been saying?
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