May I humbly speculate that with the recent incident of a school roof which did NOT collapse according the politicians we maybe advised that the tank did not collapse either, that the contractor had self insured and may have been given a verbal contract and there are no structural engineering reports or approvals.
Having been without water for years after the hurricane it may have been in the greater good to rush this project to bring portable water to the people.
Of course in a day or two this story will scroll down the page and we will move on to the next horror in da 242.
Honestly I wake up every morning to look at the 242 news to see what new unbelievable thing has befallen my country.
So, Foreigners are purchasing choice homes in single family neighborhoods and opening hotels and attracting crime and distroying the fabric of our society which are nuclear families in safe neighborhoods.
The Central Bank is doing a great job allowing retail investors to convert Bahamian Currency to US dollars so they can get a return on the billions of dollars sitting in Canadian banks earning them nothing.
Bahamians retail investors I think are starting to do the math.
2 year fixed deposit at "you know who commercial bank" = 0.75%.
Saving account rate at US financial institutions = 4.5%.
US stock market up 20% this year with instant liquidity.
Bahamian stocks? Essentially illiquid. Can't buy or sell, you have to go on a waiting listing. Lol.
So do the math. 5% ICM premium, 1.5% stamp and 1.125% FX is a very reasonable price to pay to get a return on your money for your retirement.
This is actually a great move by the government as it is only just as the government will now be taking property if you don't pay your real property tax.
What the IMF should be doing is ridding the country of all the monopolies strangling to small businesses man eg BEC, Water and Seeerage, Canadian Banks, Awarak Ports, GBPS, Ministry of Education, crime, inequality of women
Instead our debt is rated junk and all the government is doing everyday is threatening the business class
In 2 years the national debt goes from $10 to 12.5 billion and accelerating at a rate of $1 billion a year.
Corporate Tax implementation proposed
Force insurance companies to "invest" 50% of their balance sheet with the "New Day" Government to visit the King and travel first class.
Freezing bank accounts of businesses without a functional court order or tax court so the average business many can appeal. Essentially closing down their business.
Threat of commencing confiscation of real property, again with no tax court so a person can put up a defence, if you don't pay within 7 months!
Ok, next steps as far as I can see. Once the tax grab on companies is completed and the debt is now $15 billion they
1. Implementation of personal income tax.
2. All Bahamians must put 50% of their bank deposits into government bonds.
Don't believe it? Take a look at the IMF Playbook ... study Argentina, Ecuador, Venezuela and any other failed state that the IMF messed up.
observer2 says...
Bahamianson, my condolences to the family.
May I humbly speculate that with the recent incident of a school roof which did NOT collapse according the politicians we maybe advised that the tank did not collapse either, that the contractor had self insured and may have been given a verbal contract and there are no structural engineering reports or approvals.
Having been without water for years after the hurricane it may have been in the greater good to rush this project to bring portable water to the people.
Of course in a day or two this story will scroll down the page and we will move on to the next horror in da 242.
Honestly I wake up every morning to look at the 242 news to see what new unbelievable thing has befallen my country.
On WSC worker killed as water tank collapses
Posted 2 October 2023, 10:41 a.m. Suggest removal
observer2 says...
Great research ThisIsOurs.
Gotta read the bloggers for lil dose a reality in da 242.
On Ex-DPM: ‘Disgraceful’ failure to improve BPL
Posted 10 August 2023, 2:44 p.m. Suggest removal
observer2 says...
“they never prepared a new foundation”
Probably the only relevant statement.
On BCA trustee says lack of foundation causing Wartsila vibration problems
Posted 8 August 2023, 1:03 p.m. Suggest removal
observer2 says...
So, Foreigners are purchasing choice homes in single family neighborhoods and opening hotels and attracting crime and distroying the fabric of our society which are nuclear families in safe neighborhoods.
Great business model for da 242
On Vacation rentals ‘too hard’ is reputation to be avoided
Posted 4 August 2023, 7:12 p.m. Suggest removal
observer2 says...
“ his client did not directly employ anyone in The Bahamas”
😩
Foreigners have taken over, Bahamians need not apply for jobs
On Vacation rentals ‘too hard’ is reputation to be avoided
Posted 4 August 2023, 2:47 p.m. Suggest removal
observer2 says...
The Central Bank is doing a great job allowing retail investors to convert Bahamian Currency to US dollars so they can get a return on the billions of dollars sitting in Canadian banks earning them nothing.
Bahamians retail investors I think are starting to do the math.
2 year fixed deposit at "you know who commercial bank" = 0.75%.
Saving account rate at US financial institutions = 4.5%.
US stock market up 20% this year with instant liquidity.
Bahamian stocks? Essentially illiquid. Can't buy or sell, you have to go on a waiting listing. Lol.
So do the math. 5% ICM premium, 1.5% stamp and 1.125% FX is a very reasonable price to pay to get a return on your money for your retirement.
Thanks PLP for helping us!
On Central Bank reviews $250m investment currency reforms
Posted 1 August 2023, 3:44 p.m. Suggest removal
observer2 says...
This is actually a great move by the government as it is only just as the government will now be taking property if you don't pay your real property tax.
On ‘Scores’ of Bahamians to get money owed to them by govt
Posted 30 June 2023, 9:55 a.m. Suggest removal
observer2 says...
Assets “confiscation” is easy.
What the IMF should be doing is ridding the country of all the monopolies strangling to small businesses man eg BEC, Water and Seeerage, Canadian Banks, Awarak Ports, GBPS, Ministry of Education, crime, inequality of women
Instead our debt is rated junk and all the government is doing everyday is threatening the business class
On Insurer uproar on Gov'ts 50% investment 'dictate'
Posted 25 May 2023, 11:46 a.m. Suggest removal
observer2 says...
So lets do the "New Day" government math
In 2 years the national debt goes from $10 to 12.5 billion and accelerating at a rate of $1 billion a year.
Corporate Tax implementation proposed
Force insurance companies to "invest" 50% of their balance sheet with the "New Day" Government to visit the King and travel first class.
Freezing bank accounts of businesses without a functional court order or tax court so the average business many can appeal. Essentially closing down their business.
Threat of commencing confiscation of real property, again with no tax court so a person can put up a defence, if you don't pay within 7 months!
Ok, next steps as far as I can see. Once the tax grab on companies is completed and the debt is now $15 billion they
1. Implementation of personal income tax.
2. All Bahamians must put 50% of their bank deposits into government bonds.
Don't believe it? Take a look at the IMF Playbook ... study Argentina, Ecuador, Venezuela and any other failed state that the IMF messed up.
On Insurer uproar on Gov'ts 50% investment 'dictate'
Posted 25 May 2023, 11:11 a.m. Suggest removal
observer2 says...
....also Adam KC is FNM...they gonna loose just like the last election.
On Town Planning rejected Lyford Cay condo advice
Posted 24 May 2023, 2:51 p.m. Suggest removal