LOL @Porcupine, I have only 35 years experience in the field (Wall Street, not Bahamalalaland), but your video has shown me the error of my ways. Economics is all junk. Continue as you are. It's going great, is it not? PS: anti-dumping provisions are law in nearly every advanced economy and strictly enforced, with massive fines. But there again, their civil servants can read and write. Try Googling it, you might learn something.
Obviously Mr. D'Aguilar does not have a degree in Economics and nor does anyone advising him, so here goes, couched in terms understandable to the average reader: Let us assume that GDP (from tourism, in this example) is a cake. The government only cares that the size of the cake gets bigger each year. It is not the job of the government to care who gets what sized slice (distribution between Atlantis & Baha Mar). The government also should care that the ingredients used to bake the cake are according to standard, otherwise the cake will taste bad for everyone. This is done via anti-monopolies legislation. Part of that legislation are anti-dumping provisions: basically you cannot undercut your competitor under your costs to drive them out of business and ensure a bigger slice of the cake for yourself by foul means. So, Mr. D'Aguilar, simply inform the Baha Mar management that you are watching them like a hawk and that you will not hesitate to impose huge fines on them should you see any dumping going on. Then sit back, enjoy your cake and let the market take care of everything else.
Immutable law, even stronger than all physical laws of nature, including gravity: once VAT is introduced, its rate will only EVER go up. Why? Because government expands into any budget surplus (hence no reduction) and does not contract enough into a deficit, hence the need for a higher rate to balance the budget. You will see the Second Coming before you see a VAT reduction in the Bahamas.
Since slavery was abolished in 1810, it is unlikely that our "collective memory" has lasted 207 years. Since then the Bahamas has been a beacon of hope and the preferred destination of all enslaved people in the Americas, since on setting foot on its shores you automatically became a free man, by Law. No, it has nothing to do with slavery and everything to do with the Police officers wanting to suck up to their new political masters in the hope of promotion or some other perk.
It is certainly not the foreigners buying property which are driving up real estate prices in Nassau. The foreigners want to live in specific places and nowhere else. How is a multimillion $ home in Lyford going to drive up the price of a shack in Over-the-Hill? The foreigner would not want it for free. And there are still over 100 lots available in Lyford, so we are nowhere close to capacity. No, you have to look far closer to home for people driving up property prices through the launder of drug and people smuggling money.
You have to catch the murderers first. Haven't noticed too much of that going on. And I must say, we are all much safer with the Privy Council as the ultimate court of appeal. Or would someone prefer to put their own life in the hands of a Bahamian judge?
The only point I might agree with is the placing of suspects in general population at the prison. It might indeed be dangerous. But there again, I have no idea what the facilities are like and if there is a reasonable alternative. Everything else is pure horse-shit.
Crime, to my mind, is the most important and intractable problem of the Bahamas. As several people have mentioned, its root causes are poverty and economic stagnation. Even if we had a plan to cure that (which I very much doubt we do), it would take decades for it to come to fruition and address the root cause. We need an interim solution. It should be obvious that when we live a short hop from Miami, where you can buy a bazooka with little problem, not to mention a hand-gun, and when you have thousands of small vessels coming and going every month between the shores of Florida and our islands, it is absolutely impossible to stop the determined criminal from obtaining them. However strict the gun laws. Criminals, by definition, do not care what the law says. The interim solution must depend on technology. Two easy fixes are available: flood every street corner with cameras. Put in 10,000. That could cover nearly every square inch of Nassau. These cameras now have night vision, HD, zoom and pan features, record 24/7 and cost less than $1,000 each. For a mere $10m (which is a fraction of Police budget) you would have the beginnings of a ready made solution. Secondly, most of the crime is committed by very few individuals. Chip them. Like dogs. Chips are tiny and have GPS locators and transmitters. Pass a law saying that anyone committing a violent act or being suspected of gang membership can be chipped. It IS an infringement of civil liberties, but gunning us down in crossfire is surely a greater evil than infringing the civil liberties of a few pieces of scum.
Surely, rather than gas guzzling and relatively slow patrol boats, the RBDF should equip itself with a couple of large surveillance drones like the ones used by the US military. They are far cheaper to operate and infinitely faster than any patrol boat.
OldFort2012 says...
LOL @Porcupine, I have only 35 years experience in the field (Wall Street, not Bahamalalaland), but your video has shown me the error of my ways. Economics is all junk. Continue as you are. It's going great, is it not?
PS: anti-dumping provisions are law in nearly every advanced economy and strictly enforced, with massive fines. But there again, their civil servants can read and write. Try Googling it, you might learn something.
On Minister admits Baha Mar room discounts 'slightly worrisome'
Posted 29 July 2017, 5:07 p.m. Suggest removal
OldFort2012 says...
Obviously Mr. D'Aguilar does not have a degree in Economics and nor does anyone advising him, so here goes, couched in terms understandable to the average reader:
Let us assume that GDP (from tourism, in this example) is a cake. The government only cares that the size of the cake gets bigger each year. It is not the job of the government to care who gets what sized slice (distribution between Atlantis & Baha Mar). The government also should care that the ingredients used to bake the cake are according to standard, otherwise the cake will taste bad for everyone. This is done via anti-monopolies legislation. Part of that legislation are anti-dumping provisions: basically you cannot undercut your competitor under your costs to drive them out of business and ensure a bigger slice of the cake for yourself by foul means.
So, Mr. D'Aguilar, simply inform the Baha Mar management that you are watching them like a hawk and that you will not hesitate to impose huge fines on them should you see any dumping going on. Then sit back, enjoy your cake and let the market take care of everything else.
On Minister admits Baha Mar room discounts 'slightly worrisome'
Posted 29 July 2017, 8:27 a.m. Suggest removal
OldFort2012 says...
Immutable law, even stronger than all physical laws of nature, including gravity: once VAT is introduced, its rate will only EVER go up. Why? Because government expands into any budget surplus (hence no reduction) and does not contract enough into a deficit, hence the need for a higher rate to balance the budget. You will see the Second Coming before you see a VAT reduction in the Bahamas.
On Lucaya tenant: Too late for me, I’m off to T&C
Posted 29 July 2017, 8:06 a.m. Suggest removal
OldFort2012 says...
Since slavery was abolished in 1810, it is unlikely that our "collective memory" has lasted 207 years. Since then the Bahamas has been a beacon of hope and the preferred destination of all enslaved people in the Americas, since on setting foot on its shores you automatically became a free man, by Law.
No, it has nothing to do with slavery and everything to do with the Police officers wanting to suck up to their new political masters in the hope of promotion or some other perk.
On Must We Handcuff All Defendants?
Posted 28 July 2017, 6 a.m. Suggest removal
OldFort2012 says...
It is certainly not the foreigners buying property which are driving up real estate prices in Nassau. The foreigners want to live in specific places and nowhere else. How is a multimillion $ home in Lyford going to drive up the price of a shack in Over-the-Hill? The foreigner would not want it for free. And there are still over 100 lots available in Lyford, so we are nowhere close to capacity.
No, you have to look far closer to home for people driving up property prices through the launder of drug and people smuggling money.
On Realtor urges revival of ‘Economic Citizenship’
Posted 26 July 2017, 12:04 p.m. Suggest removal
OldFort2012 says...
You have to catch the murderers first. Haven't noticed too much of that going on.
And I must say, we are all much safer with the Privy Council as the ultimate court of appeal. Or would someone prefer to put their own life in the hands of a Bahamian judge?
On ‘Death penalty needed to stop the murders’
Posted 25 July 2017, 12:39 p.m. Suggest removal
OldFort2012 says...
The only point I might agree with is the placing of suspects in general population at the prison. It might indeed be dangerous. But there again, I have no idea what the facilities are like and if there is a reasonable alternative.
Everything else is pure horse-shit.
On Davis lashes out over PLP arrests
Posted 24 July 2017, 11:01 a.m. Suggest removal
OldFort2012 says...
Crime, to my mind, is the most important and intractable problem of the Bahamas. As several people have mentioned, its root causes are poverty and economic stagnation. Even if we had a plan to cure that (which I very much doubt we do), it would take decades for it to come to fruition and address the root cause. We need an interim solution.
It should be obvious that when we live a short hop from Miami, where you can buy a bazooka with little problem, not to mention a hand-gun, and when you have thousands of small vessels coming and going every month between the shores of Florida and our islands, it is absolutely impossible to stop the determined criminal from obtaining them. However strict the gun laws. Criminals, by definition, do not care what the law says.
The interim solution must depend on technology. Two easy fixes are available: flood every street corner with cameras. Put in 10,000. That could cover nearly every square inch of Nassau. These cameras now have night vision, HD, zoom and pan features, record 24/7 and cost less than $1,000 each. For a mere $10m (which is a fraction of Police budget) you would have the beginnings of a ready made solution.
Secondly, most of the crime is committed by very few individuals. Chip them. Like dogs. Chips are tiny and have GPS locators and transmitters. Pass a law saying that anyone committing a violent act or being suspected of gang membership can be chipped. It IS an infringement of civil liberties, but gunning us down in crossfire is surely a greater evil than infringing the civil liberties of a few pieces of scum.
On Woman shot while driving on Blue Hill Road South
Posted 23 July 2017, 7:28 a.m. Suggest removal
OldFort2012 says...
Surely, rather than gas guzzling and relatively slow patrol boats, the RBDF should equip itself with a couple of large surveillance drones like the ones used by the US military. They are far cheaper to operate and infinitely faster than any patrol boat.
On EDITORIAL: Mass migration in Europe and a growing threat closer to home
Posted 22 July 2017, 8:08 a.m. Suggest removal
OldFort2012 says...
Was there last night. The place is a ghost town. If that is 50% occupancy, then I guess everyone went to bed at 6:00pm.
On Baha Mar claims 50% occupancy and 2,100 local staff
Posted 19 July 2017, 1:16 p.m. Suggest removal