Devaluation could happen, but only if the Government plays fair with debtors. If there is a deficit of US$ currency, it will be because it is needed to repay foreign debt interest and principal due. In that case, the Government will simply default and try to restructure the debt, thereby kicking the can down the road. It will mean no more borrowing, but there again, we are so close to all debt/GDP ratios that we can't borrow any more anyway. Will everything be hunky-dory? No, of course not. Growth will nosedive, poverty increase, a lot of people will go hungry. There will be a commercial property collapse and general deflation. But devaluation will have been avoided for a good while.
There is a HUGE difference between developing a democratic system over centuries and being given one lock, stock and barrel. We were given our system, it is not ours, it is the Brit's. Our input into our democratic system is and was precisely zero. We should value it, for it is truly a wonderful system. How much we really value it, is a matter for debate and even the most perfect system can be abused by unscrupulous people for their own ends. Having observers can do nothing but assuage fears that something crooked is going on and reinforce our own belief in our abilities, our system of democracy and the honesty of our fellow citizens who are involved in the process.
Old political adage: "It's not the Opposition that wins an election, it's the Government which loses it." All Minnis has to do is be quiet for 26 days.
Sure. But I bet you the head of the police there is not "unaware" of it. Nor is he waiting for the Bahamian Consulate to issue a warning about it before dealing with it. You want to compare us to Miami? Pleeease...
I like playing the odds. If a country of 300+ million like the USA produces a mo..n like Trump, then the odds of a country of 300,000 producing a decent Prime Minister (of whichever party and in whichever timeframe) are absolutely zero. Forget about electing someone "good". The best we can hope for is the "least bad" option.
Don't worry. The market has already "put a restriction" on the Bahamas. It can't borrow a red cent sub 10%. And it could not borrow another $10bn in a month of Sundays. PS: current Bahamian debt is about $8bn.
Yes, but the average Europeans gets in return: an efficient police force, low crime rates, the rule of law, defence, free healthcare, good roads, good education and corruption free politics. We get...nothing.
Serious question: what makes you think they won't simply default on foreign debt? After that, all they would need is enough money for police and RBDF and things will just simmer along for a looonggg time....before the collapse. But you and I will likely be dead by then.
OldFort2012 says...
Devaluation could happen, but only if the Government plays fair with debtors. If there is a deficit of US$ currency, it will be because it is needed to repay foreign debt interest and principal due. In that case, the Government will simply default and try to restructure the debt, thereby kicking the can down the road. It will mean no more borrowing, but there again, we are so close to all debt/GDP ratios that we can't borrow any more anyway.
Will everything be hunky-dory? No, of course not. Growth will nosedive, poverty increase, a lot of people will go hungry. There will be a commercial property collapse and general deflation. But devaluation will have been avoided for a good while.
On EDITORIAL: Parties ignoring the looming economic issue place a nation in peril
Posted 19 April 2017, 6:30 p.m. Suggest removal
OldFort2012 says...
There is a HUGE difference between developing a democratic system over centuries and being given one lock, stock and barrel. We were given our system, it is not ours, it is the Brit's. Our input into our democratic system is and was precisely zero. We should value it, for it is truly a wonderful system. How much we really value it, is a matter for debate and even the most perfect system can be abused by unscrupulous people for their own ends. Having observers can do nothing but assuage fears that something crooked is going on and reinforce our own belief in our abilities, our system of democracy and the honesty of our fellow citizens who are involved in the process.
On No need for outside observers
Posted 19 April 2017, 6:30 a.m. Suggest removal
OldFort2012 says...
Old political adage: "It's not the Opposition that wins an election, it's the Government which loses it." All Minnis has to do is be quiet for 26 days.
On Roberts decries "reckless" Minnis and calls for cool heads in airport dispute
Posted 15 April 2017, 9:41 a.m. Suggest removal
OldFort2012 says...
He did. But we don't like the color of his skin.
On FNM leader pledges more details on policies ‘with time’
Posted 13 April 2017, 2:13 p.m. Suggest removal
OldFort2012 says...
"a valid passport that is expired" And this came out of the mouth of a prominent MP.
You have to doubt the mental sanity of our politicians.
On Miller angry at registration workers
Posted 12 April 2017, 10:06 a.m. Suggest removal
OldFort2012 says...
Sure. But I bet you the head of the police there is not "unaware" of it. Nor is he waiting for the Bahamian Consulate to issue a warning about it before dealing with it. You want to compare us to Miami? Pleeease...
On Leave our tourists alone
Posted 12 April 2017, 10 a.m. Suggest removal
OldFort2012 says...
I like playing the odds. If a country of 300+ million like the USA produces a mo..n like Trump, then the odds of a country of 300,000 producing a decent Prime Minister (of whichever party and in whichever timeframe) are absolutely zero. Forget about electing someone "good". The best we can hope for is the "least bad" option.
On An FNM govt 'would institute Freedom of Information, Fiscal Responsibility Acts on day one'
Posted 9 April 2017, 10:48 a.m. Suggest removal
OldFort2012 says...
Don't worry. The market has already "put a restriction" on the Bahamas. It can't borrow a red cent sub 10%. And it could not borrow another $10bn in a month of Sundays.
PS: current Bahamian debt is about $8bn.
On VAT model not given credit for recession avoid
Posted 7 April 2017, 7:17 p.m. Suggest removal
OldFort2012 says...
Yes, but the average Europeans gets in return: an efficient police force, low crime rates, the rule of law, defence, free healthcare, good roads, good education and corruption free politics. We get...nothing.
On Bahamas has region’s ‘most productive’ VAT
Posted 6 April 2017, 6:50 p.m. Suggest removal
OldFort2012 says...
Serious question: what makes you think they won't simply default on foreign debt? After that, all they would need is enough money for police and RBDF and things will just simmer along for a looonggg time....before the collapse. But you and I will likely be dead by then.
On PM falling apart at the seams
Posted 6 April 2017, 12:03 p.m. Suggest removal