Comment history

observer2 says...

Download the VesselFinder App on your iPhone and check out the number of green dots (cruise ships) idling around our northern islands.

I assume they are crewed but have nowhere to go or land. Without the ability to land or get supplies the environment on all of these ships could be less than ideal.

Many of these ships are registered under the Bahamian flag. Bahamas happy for the registration fees but don’t know them when they are in trouble or dumping garbage in our oceans.

observer2 says...

A good example of visionless and poor leadership.

BPL has an accounts receivable problem but (1) the government won’t tell us exactly how much (2) they have not decided what they will do about the problem (3) we delayed the international rate bond issuance so much that it can’t be done anymore (4) even ppl that can pay their bills are not because there is a “do not disconnect list” for the politician (5) we have done zero solar which is virtually free to protect the lucrative import of global warming fossil fuels for the big shots (6) oil has dropped from $70 to $20 but we have no money to buy future supplies (7) we have done zero grid upgrades and hurricane season starts in 2 months.

On BPL cash crisis as payments collapse

Posted 30 March 2020, 8:35 a.m. Suggest removal

observer2 says...

Well mudda, great idea on the wealth tax, believe me its coming faster than you think. You can't threaten to lock down a country through April 30, tens of thousands of ppl have lost their jobs, government is supposed to be "working from home" but no one is answering their phones and the e mail server is overloaded and all e mails are being rejected. Something some where and sometime will have to give.

I made the following comments on the Lyford Cay job losses:

As tens of thousands of workers in the private sector are losing their jobs it is ironic that not a single government employee has either taken a pay cut, lost their job or are working at reduced hours.

I say its ironic because the government derives it revenue to meet its payroll by taxing Bahamian citizens and tourist. In any other business there would be some belt tightening as revenues decline.

We just don't the Minster of Health, Finance and the PM telling us how awful it is and how we must stay in our homes. We need hope, we need to see you sharing in our pain. How about taking a 30% pay cut at the top (Minister level) going down to 10% at the Manager level. Leave the salaries of those at the bottom alone.

....I must be dreaming.

observer2 says...

Tetelestai. It would be constructive if you didn't denigrate my comment as "stupid". You do have a point that laying off government working is not helpful because it will further cause the economy to decline.

However, I had two other recommendations for government to impliment an austerity program of 30% pay cut for Ministers, 20% for Managers and reduced time for worker. Example if the airport is closed, which it is, then there is reduce work for Customs Officers and Managers. Why not, in sympathy with the tens of thousand of Bahamians that lost their jobs that they take a 10% reduction in working hours and pay.

On the high end the Minister of Tourism is a multi millionaire who I am sure would not feel a 30% reduction in his salary.

However, if the government implemented an austerity program like this they would be able to say truthfully "we are all in this together".

Ppl are just becoming more and more fearful.

70% of government expenditure is payroll. If you want some material savings to offset a portion of $1 billion of revenue short fall from a $2 billion budget there is no where else that it can come from. Except foreign reserves and if we deplete $1 billion of foreign reserves we will put a strain on the 1:1 B$:US$ peg which was anecdotally trading at 70 cents before this economic collapse.

On LYFORD CAY CLUB SHUTS: 150 JOBLESS

Posted 27 March 2020, 5:55 p.m. Suggest removal

observer2 says...

As tens of thousands of workers in the private sector are losing their jobs it is ironic that not a single government employee has either taken a pay cut, lost their job or are working at reduced hours.

I say its ironic because the government derives it revenue to meet its payroll by taxing Bahamian citizens and tourist. In any other business there would be some belt tightening as revenues decline.

We just don't the Minster of Health, Finance and the PM telling us how awful it is and how we must stay in our homes. We need hope, we need to see you sharing in our pain. How about taking a 30% pay cut at the top (Minister level) going down to 10% at the Manager level. Leave the salaries of those at the bottom alone.

....I must be dreaming.

On LYFORD CAY CLUB SHUTS: 150 JOBLESS

Posted 27 March 2020, 12:31 p.m. Suggest removal

observer2 says...

Funny that the parent companies of the Canadian banks are providing their Canadian clients in Canada with the deferment of interest until the maturity of the loan which holds harmless their clients for the act of god.

Where as in the Bahamas the interest continues to accrue increasing the current liability and future liability of Bahamians to their Canadian masters.

But no one cares or understands the difference

observer2 says...

proudloudandfnm. everyone supports the curfew and there is still freedom of speech in the Country so long as we provide accurate information.

What Mudda and DDK are saying is that our citizens have been overburdened with taxes, a lack of economic diversification to the point where we don't even produce any eggs or chickens or anything except a tourism product and no vision for the future.

Bahamian's are unified to conquer CoVID 19 but we need more. We need a vision for the development of our Country other than distroying the seabed for oil or Disney placing a global warming tourist park on the most beautiful beach in the world on Eletheria.

We can do better than just reacting to natural disasters like Dorian. What will we do when Dorian II strikes in September of this year?

observer2 says...

DWW, don't forget hurricane season starts in June.

What if Nassau takes a direct hurricane hit which takes out all the BEC electrical poles like in Abaco?

I don't normally agree with much Smithee says but I agree with him 100% that "The Bahamas had always known about its vulnerability to a total travel and tourism shutdown but had never wanted to confront this reality".

I hear zero conversation on how we will reduce our dependency on tourism, fossil fuels, decentralize to family islands, promote small foot print tourist projects, open up markets to foreign competition (like the food stores), reduce the size of government, real privatization etc etc.

On Turnquest: Recovery to be slow and anaemic

Posted 23 March 2020, 10:55 a.m. Suggest removal

observer2 says...

May be the centralized powers can now diversify the economy away from big box tourism, oil exploration, oil storage and big diesel fossil fuel energy as the country will be fully indebted to the IMF.

Can we try solar energy, agriculture, poultry, light manufacturing, family island development, micro guest cottages for tourism?

So when Dorian II comes along at least we are a little more self sufficient?

observer2 says...

Very thoughtful and considered Newcitizen. I never thought I would come out and agree with anything the government has to say but with zero tourist arrivals the strain on reserves will decline dramatically.

Secondly in the “balance of payments” reserve reconciliation there is in major developing countries an entry called “errors and omissions” which in our case would be residence importing goods and paying for it in hard currency they have outside of the Bahamas which doesn’t put a strain on reserves.

However we are overlooking hurricane seasons which starts in less than 3 months.

Our government is reactive. They are not proactive or visionary. This crisis I suspect will force a change in our economic models and possibly a disruptive and painful change in our political structure as unemployment escalates to 30% in Nassau within a month.