Ohhh...I forgot, take a look at these stories on Chinese construction quality. So, they will complete the construction and try to sell the hotel to top quality US hotel chains and property investors? Lol...
there are buyers but the bank would have had to take a big write-down on the loan balance. so now they think they can finish the project and then sell it to someone at full price...lol.
So these foreign banks pay dividends of tens of millions of dollars to their head office in Toronto, transfer jobs to another jurisdiction and the government does nothing?
Ahh yes, the government did do something. It increased our taxes with VAT and are about to increase our taxes again with NHI.
Fewer jobs, more taxes, more government debt, low employment, no hope = ?.
The government loves to double and triple tax Bahamians and then wonder why the country can't grow, unemployment is so high and crime is out of control. No amount of national plans, international loans to audit the government, constitutional amendments will compensate for ignorance. These projects only serve to enrich the professional class.
Take for example the triple tax on goods brought into the country. First duty is charged, then VAT is charged on top of duty and then the merchant has to pay a business license fee on gross sales (the same items sold to its customers). That's a triple tax!
Double and triple taxing a product is a dis-insensitive to spend and grow the economy.
So here we go again with NHI. Greg Moss is right why should we pay to go to PMH when we are paying for it already to the tune of hundreds of millions of dollars per year? Why would collecting hundreds of millions more in medical insurance taxes make the system more efficient and save lives? Like the VAT money all that will happen is that the money is wasted and the Country will be in even further debt.
Why should private doctors be able to use PMH at subsidized prices? Again the professional class getting handouts at the expense of the poor.
Oil has fallen below $30 per barrel today and some smaller oil companies are going bankrupt or closing down. Fossil fuel usage is declining globally with the threat of global warming and the economic slow down in China. Most countries that rely on petrochemicals for revenue are in trouble (Venezuela, Brazil, Russia, Saudi Arabia etc.). Oil needs to be above $70 for offshore drilling to make economic sense.
But new Bahamian petrochemical legislation and sovereign wealth fund makes perfect sense for a country that puts foreign interest and last century industrial projects ahead of the best interest of the country. We can't control the leaks at Clifton so what if we have a major oil spill in the most beautiful waters in the world.
Like Baha Mar, oil will be another multi-decade disaster for our islands. But in 10 years, by that time the truth comes out, the current leadership will be retired and on fat pensions while our youth continue to suffer without jobs or hope.
Not to worry, once will drill for oil at a cost of $75 due to offshore rig cost and sell it to the market at $30 we will be rich. Also, once government gets 50% of the new Cable Bahamas cell license fees, we will be rich, only thing, globally cell phone rates are collapsing. Just got rid of my BTC phone as Sprint has free text and internet in the Bahamas and only 20 cents per minute to make calls to the Bahamas...do the math. But don't worry, we will get Baha Mar open with the Chinese who are rapidly cutting back, purging corruption and devaluing their currency. But don't worry, once we get the dorm open we will feed ourselves from Bamsi in Andros. But don't worry VAT will reduce our debt....but it just increased by $1 billion! But one minister just said that crime hasn't impacted foreign investment...but what about us poor black Bahamians who don't live behind a gate (I guess I don't count). Once NHI comes I will give up my $600 per month medical insurance, PGC ga take care a me. BEC gone to foreigner who ga mess it up just like Baha Mar, Freeport, Bimini, BTC etc. etc. I guess we ga need more for foreigners to fix what dey done break up.
Both the Government and the Opposition miss the true problem with the fossil fuel industry. Neither the registered office of the investor, the police record of the CEO, fossil fuel regulation nor the sovereign fund are key issues.
The real issue is (1) how can you make money when the price of oil (WTI) is $35 a barrel and the price of offshore drilling is $65 per barrel. At the current rates neigher Venezuela nor Saudi Arabia can pump enough oil to fund their government deficits (2) Why are we as a Nation investing in last centuries global warming and polluting industry which has the real chance of distroy our crystal clear waters? (3) Oil is projected to stay between $35 and $60 per barrel far into the future with heavy competition from the US fracking industry.
Reminds me of Baha Mar, Bamsi, BoB, BEC (new foreigners coming in who don't have a clue what they are doing) etc. etc.
Petroleum legislation is what you get when you have a bunch of $28,000 per year politicians, towing political lines to pay for their supper.
China, a major source of investment for the Bahamas, is burning fossil fuels for energy and now their pollution levels are over 20 times above WTO recommended levels. I guess BEC will continue to burn diesel, alternative energy will take a back seat and solar will be discouraged so that BPC can sell dirty diesel to BEC, who cares about the leaks at Clifton?
das how dey does get rich off crown land, lease it to dey cronies, den lease it again to da foreigner or lend against it at the BoB. poor black peope gets nottin...but its dey land,
dey tell me we ga get some job in 2017, just like baha ma, 6,000 jobs comin...boy das good ehh, better vote des negros back in.
observer2 says...
Ohhh...I forgot, take a look at these stories on Chinese construction quality. So, they will complete the construction and try to sell the hotel to top quality US hotel chains and property investors? Lol...
http://www.nytimes.com/2016/02/03/reale…
http://www.theepochtimes.com/n3/1932144…
On Receivers ‘dual approach’ for Baha Mar resolution
Posted 3 February 2016, 4:10 p.m. Suggest removal
observer2 says...
there are buyers but the bank would have had to take a big write-down on the loan balance. so now they think they can finish the project and then sell it to someone at full price...lol.
On Receivers ‘dual approach’ for Baha Mar resolution
Posted 3 February 2016, 3:14 p.m. Suggest removal
observer2 says...
So these foreign banks pay dividends of tens of millions of dollars to their head office in Toronto, transfer jobs to another jurisdiction and the government does nothing?
Ahh yes, the government did do something. It increased our taxes with VAT and are about to increase our taxes again with NHI.
Fewer jobs, more taxes, more government debt, low employment, no hope = ?.
On RBC outsourcing more jobs to Trini
Posted 3 February 2016, 3:09 p.m. Suggest removal
observer2 says...
The government loves to double and triple tax Bahamians and then wonder why the country can't grow, unemployment is so high and crime is out of control. No amount of national plans, international loans to audit the government, constitutional amendments will compensate for ignorance. These projects only serve to enrich the professional class.
Take for example the triple tax on goods brought into the country. First duty is charged, then VAT is charged on top of duty and then the merchant has to pay a business license fee on gross sales (the same items sold to its customers). That's a triple tax!
Double and triple taxing a product is a dis-insensitive to spend and grow the economy.
So here we go again with NHI. Greg Moss is right why should we pay to go to PMH when we are paying for it already to the tune of hundreds of millions of dollars per year? Why would collecting hundreds of millions more in medical insurance taxes make the system more efficient and save lives? Like the VAT money all that will happen is that the money is wasted and the Country will be in even further debt.
Why should private doctors be able to use PMH at subsidized prices? Again the professional class getting handouts at the expense of the poor.
Shame.
On Greg Moss: NHI charging Bahamians a second time for public health care
Posted 3 February 2016, 2:31 p.m. Suggest removal
observer2 says...
Can't wait to sign up and cancel my $600 a month private health insurance plan. The government is doing a great job.
On As NHI looms, doctors say: NO
Posted 18 January 2016, 12:32 p.m. Suggest removal
observer2 says...
Oil has fallen below $30 per barrel today and some smaller oil companies are going bankrupt or closing down. Fossil fuel usage is declining globally with the threat of global warming and the economic slow down in China. Most countries that rely on petrochemicals for revenue are in trouble (Venezuela, Brazil, Russia, Saudi Arabia etc.). Oil needs to be above $70 for offshore drilling to make economic sense.
But new Bahamian petrochemical legislation and sovereign wealth fund makes perfect sense for a country that puts foreign interest and last century industrial projects ahead of the best interest of the country. We can't control the leaks at Clifton so what if we have a major oil spill in the most beautiful waters in the world.
Like Baha Mar, oil will be another multi-decade disaster for our islands. But in 10 years, by that time the truth comes out, the current leadership will be retired and on fat pensions while our youth continue to suffer without jobs or hope.
http://www.bloomberg.com/news/articles/…
On Oil ‘majors’ in talks on Bahamas exploration
Posted 15 January 2016, 3:13 p.m. Suggest removal
observer2 says...
Not to worry, once will drill for oil at a cost of $75 due to offshore rig cost and sell it to the market at $30 we will be rich. Also, once government gets 50% of the new Cable Bahamas cell license fees, we will be rich, only thing, globally cell phone rates are collapsing. Just got rid of my BTC phone as Sprint has free text and internet in the Bahamas and only 20 cents per minute to make calls to the Bahamas...do the math. But don't worry, we will get Baha Mar open with the Chinese who are rapidly cutting back, purging corruption and devaluing their currency. But don't worry, once we get the dorm open we will feed ourselves from Bamsi in Andros. But don't worry VAT will reduce our debt....but it just increased by $1 billion! But one minister just said that crime hasn't impacted foreign investment...but what about us poor black Bahamians who don't live behind a gate (I guess I don't count). Once NHI comes I will give up my $600 per month medical insurance, PGC ga take care a me. BEC gone to foreigner who ga mess it up just like Baha Mar, Freeport, Bimini, BTC etc. etc. I guess we ga need more for foreigners to fix what dey done break up.
On ‘Perfect storm’ fear on Business Licence
Posted 14 January 2016, 4:50 p.m. Suggest removal
observer2 says...
Government getting ready to be 51% owner of Cable Bahamas' cell license.
On Central Bank urged: ‘Step in’ over BOB’s $100m loss
Posted 5 January 2016, 10:22 a.m. Suggest removal
observer2 says...
Both the Government and the Opposition miss the true problem with the fossil fuel industry. Neither the registered office of the investor, the police record of the CEO, fossil fuel regulation nor the sovereign fund are key issues.
The real issue is (1) how can you make money when the price of oil (WTI) is $35 a barrel and the price of offshore drilling is $65 per barrel. At the current rates neigher Venezuela nor Saudi Arabia can pump enough oil to fund their government deficits (2) Why are we as a Nation investing in last centuries global warming and polluting industry which has the real chance of distroy our crystal clear waters? (3) Oil is projected to stay between $35 and $60 per barrel far into the future with heavy competition from the US fracking industry.
Reminds me of Baha Mar, Bamsi, BoB, BEC (new foreigners coming in who don't have a clue what they are doing) etc. etc.
Petroleum legislation is what you get when you have a bunch of $28,000 per year politicians, towing political lines to pay for their supper.
China, a major source of investment for the Bahamas, is burning fossil fuels for energy and now their pollution levels are over 20 times above WTO recommended levels. I guess BEC will continue to burn diesel, alternative energy will take a back seat and solar will be discouraged so that BPC can sell dirty diesel to BEC, who cares about the leaks at Clifton?
http://www.scmp.com/news/china/policies…
On Minnis says oil explorer 'known to swindle'
Posted 22 December 2015, 2 p.m. Suggest removal
observer2 says...
das how dey does get rich off crown land, lease it to dey cronies, den lease it again to da foreigner or lend against it at the BoB. poor black peope gets nottin...but its dey land,
dey tell me we ga get some job in 2017, just like baha ma, 6,000 jobs comin...boy das good ehh, better vote des negros back in.
On MSC deal to give Bahamian company ‘widest ever smile’
Posted 17 December 2015, 4:12 p.m. Suggest removal