This is a wonderful idea. Get a government house from the PLP, paid for by the Bahamian people through the issuance of bonds and simply stop paying the mortgage.
Once the mortgages go into default, just transfer them to Resolve Inc. which is kept afloat by NI.
NI rates will need to increase to pay for the mortgage defaults. Worry about pension payouts later.
No need to reinvent this scheme. A perfect model is available in the Bank of the Bahamas.
The government can start with the additional 2,000 to 3,000 homes just before the elections, coupled with the $100 million Baha Mar payout and the legalization of webshops, the PLP should be able to win the next elections. Also the FNM is in a mess...no one wants to be around dumb and dumber....if Bay St pull dey cash.
Once the people, banks and pension funds have loaded up government debt the PLP can simply devalue the currency to 80 cents on the US dollar. This will lower their debt in US dollar terms. But you can't talk about devaluation.
Yes, world class American, Canadian, Australian and European hotel operators will be lining up to run a hotel owned by the Chinese. This is going to be excellent for the Bahamian people. The PLP is doing a great job.
"officials were still receiving results associated with the 83 suspected cases".
Does anyone know why is it taking so long to evaluate these 83 cases? Sounds like a cluster of people and not just scattered persons coming in one by one.
Also, does anyone know how long it takes to test for Zika and to get the results back?
At best the accounts of the government are non transparent. At worst there is a "black hole" somewhere in the interface between BoB, NI, Resolve and Governments General Fund.
I don't understand why Moody's didn't downgrade the company to junk as allowing BoB to continue to operate is clearly a systemic risk to the Countries financial stability.
With hundreds of millions of assets on its balance sheet why would anyone believe that the $24 million is the last of be financial bleeding?
observer2 says...
the car rent people needs to pay more because some people don't pay millions in rent to NAD
On Rental cars hit at ‘too high’ NAD fees
Posted 1 September 2016, 8:34 p.m. Suggest removal
observer2 says...
What time today will da new cases be revealed by the PLP?
Hope they don't seal it up like da Baha Mar deal.
On Further update expected today on confirmed Zika virus cases
Posted 1 September 2016, 8:28 p.m. Suggest removal
observer2 says...
This is a wonderful idea. Get a government house from the PLP, paid for by the Bahamian people through the issuance of bonds and simply stop paying the mortgage.
Once the mortgages go into default, just transfer them to Resolve Inc. which is kept afloat by NI.
NI rates will need to increase to pay for the mortgage defaults. Worry about pension payouts later.
No need to reinvent this scheme. A perfect model is available in the Bank of the Bahamas.
The government can start with the additional 2,000 to 3,000 homes just before the elections, coupled with the $100 million Baha Mar payout and the legalization of webshops, the PLP should be able to win the next elections. Also the FNM is in a mess...no one wants to be around dumb and dumber....if Bay St pull dey cash.
On Mortgage Corp bonds eyed to address 2-3k housing waiting list
Posted 1 September 2016, 4:03 p.m. Suggest removal
observer2 says...
Once the people, banks and pension funds have loaded up government debt the PLP can simply devalue the currency to 80 cents on the US dollar. This will lower their debt in US dollar terms. But you can't talk about devaluation.
On Central Bank, NIB urged to ‘stand firm’ over Mortgage Corp
Posted 1 September 2016, 3:59 p.m. Suggest removal
observer2 says...
Yes, world class American, Canadian, Australian and European hotel operators will be lining up to run a hotel owned by the Chinese. This is going to be excellent for the Bahamian people. The PLP is doing a great job.
http://www.bloomberg.com/news/articles/…
On Govt: Baha Mar operators need to put ‘skin in game’
Posted 1 September 2016, 3:44 p.m. Suggest removal
observer2 says...
We need more government bonds because the deficit is increasing rapidly and Moody's has downgraded our debt.
Investors just need to be careful that they get paid when the bonds mature in 2030, 2040 and 2050.
On Central Bank, NIB urged to ‘stand firm’ over Mortgage Corp
Posted 1 September 2016, 3:40 p.m. Suggest removal
observer2 says...
Besides VAT, increased business license fees, higher NI, we need to increase rental rates at the NAD because it lost $15 million last year.
On Rental cars hit at ‘too high’ NAD fees
Posted 1 September 2016, 3:38 p.m. Suggest removal
observer2 says...
Wow, we are doing great! From 600 to 400 web-shops in low cost areas, all depositing money into the Bank of the Bahamas.
On 200 web shops have closed, says Wilchcombe
Posted 1 September 2016, 3:32 p.m. Suggest removal
observer2 says...
"officials were still receiving results associated with the 83 suspected cases".
Does anyone know why is it taking so long to evaluate these 83 cases? Sounds like a cluster of people and not just scattered persons coming in one by one.
Also, does anyone know how long it takes to test for Zika and to get the results back?
Something doesn't make sense here.
On Four more Zika cases confirmed in New Providence
Posted 31 August 2016, 2:02 p.m. Suggest removal
observer2 says...
At best the accounts of the government are non transparent. At worst there is a "black hole" somewhere in the interface between BoB, NI, Resolve and Governments General Fund.
I don't understand why Moody's didn't downgrade the company to junk as allowing BoB to continue to operate is clearly a systemic risk to the Countries financial stability.
With hundreds of millions of assets on its balance sheet why would anyone believe that the $24 million is the last of be financial bleeding?
On BOB non-compliant with 80% of regulatory ratios
Posted 31 August 2016, 10:06 a.m. Suggest removal