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About Me
Blog Archive
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2014
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September
(247)
- Who’s Guarding Our Sea Ports?
- To The Over - Fruitful Multipliers
- Marina Outfits G. Islet Football Squad
- G.I. Football, wins For Monchy, GMC And Seaview
- Final 4 On Court Tomorrow Tonight
- BLACKHEART BACK AT S.M.S.
- A Tribute To Chef Harry, From VSADC
- V-Fort Town Hall An Eyesore
- St. Lucian Wins $365,000 Lotto
- School Involved In World Tourism Day
- Sandals Brings Down 2,500 North American Travel Ag...
- Rain May Spur Dengue Chikungunya -Ministry
- Port Health Screening To Become Permanent
- OECS Heading To Annapolis Boat Show
- LUCELEC Fulfills Pledge To Schools Sports
- L.P.M. Challenges P.M.’s Growth Claims
- Gov’t Provides A Home or VFort Senior Citizen
- EX-FIRE CHIEF ON CHARGES
- Big Toastmaster Meet Here Oct 17-19
- Ante-natal Care Crucial For Pregnant Women
- Murchel Hippolyte
- EC Global At 10
- Domestic Violence - What About Male Victims?
- Can Productivity Growth Solve Our Economic Woes?
- Been in an accident?
- SALCC Hosts Sports, Clubs Launch
- Rotary’s Golf Event Gets Sponsorship
- Police T20 Start Tues.
- ECFH/LUCELEC Semi Finals
- Media Clash With Police Tonight
- Blackheart Football Continues This Weekend SOUFRIE...
- St. Jude – We Cry For You
- ‘Rule Of Law’ Is Perishing Here
- Right Is Might
- Pride and Self Confidence
- How Scotland’s ‘No’ Means ‘Yes’
- How Young Is Too Young?
- A Knave In Our Midst
- Chef Harry – The Right Stuff
- V.H. To Ensure Patient Confidentiality
- Pussycat Doll Ashley Parties In St. Lucia
- More Nutritious Meals In School-Feeding Project
- M&C GETS ARTSY WITH STUDENTS
- Chikungunya Fears
- Francis ‘Happy’ With UWP
- Chef Nina Serves Up
- Zero Tolerance, Never Again Cherry Ann Gaillard’s ...
- The Importance of Sleep In Children’s Lives
- Lyn Bristol: Fashion Is Her Passion
- Iconic Restaurateur Passes Away
- Do You Trust Your Computer?
- Awakening A Corporate Conscience
- Racism vs Ignorance
- Race Been Overplayed Too Long
- Wins For Jet Setters, Le Club
- Swimmers In Mexico
- South Basketball Continues Tonight
- Netball Branding
- Blackheart Double Headers At Soufriere This Weekend
- The Bigger Picture
- DRINKING MINORS
- Rat Island Clean Up
- Focus On The Fire Chief
- Are You A Productivity Robot?
- Let’s Leave Racism Out Of Our Politics
- Keep Your Hands To Yourself
- G.ISLET UPSET Defending Champs Go Out On Blackhear...
- Cycling: Kurt Maraj Rules Again
- B-ball: Fire Service Must Win Tomorrow
- Another Hat Trick In ECFH -LUCELEC Youth League
- Strongbow Launches Urban Orchard Project
- Spartan Welcomes 18 New Medical Students
- PM Applauds Credit Unions
- OECS Education Strategy Close To Implementation
- ‘Stop Diversionary Tactics’
- Internship Logo Search
- Fire-fighters to meet tomorrow
- Cocoland Delivers
- CHASTANET vs PREVILLE Nov. 2 Battle For UWP Leader...
- Your Kid’s Rich Future
- Taiwan’s Youth Share Culture
- Some Fresh, Fertile Banana Perspectives
- Productivity Week Youth Competitions Get Underway
- Making A Will
- Economic Regulation - Water
- Youth Football
- LIME on Board Again
- Cycling Action Moves To Dennery Tomorrow
- BLACKHEART TODAY
- UWP Now More Focussed
- The Times, They Are Changing
- Democracy Won
- St. Jude - We Cry For You
- Political Piranhas Around
- Is Foreign Policy Strangling Us?
- Dr. Day’s Light Shows In The Corner
- Can Poor Women Afford Motherhood?
- Toasting M&C
- ‘Significant Milestone’ Hailed
- Police Still To Find Missing Firearm
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September
(247)
10 comments:
How many TODAY, in government ON BOTH SIDES, UNDERSTAND one thing about what you wrote up there? For the benefit of their yardfowls I wish those with the highest decision making authority could be interested. But ... I don't think so. The short-term view is to do projects like the VFort road-surfacing without a real multiplier in time for the next general election.
Mr.Wulf-Soulage, another very pertinent article which seeks to address our urgent economic problems and not party political issues. Keep it up sir.
totally free of politics, very good Mr. Wulf-Soulage
Respect, Mr Wulf-Soulage Keep it up sir.
I don't believe those praising this charlatan actually understand what he's going on about or economics more widely. This clown has clearly thumbed through a few books and is trying to pass off what he's read as the prescription. This is just a continuation of last weeks theme where he is basically saying more debt should be taken on. He just flowers it up to disguise the rancid turd, this proposal actually represents.
St lucia doesn't have the economic firepower in the private sector to pay for its current expenditures incurred by the politicians for the public sector. Borrowing more money will just increase the interest that needs to be paid.
No one who comes to talk about the finances of this nation and excludes mentioning the the hundreds of millions wasted by KDA, King etc should go away until they have done some proper analysis.
C- for you boy. Try again next week.
So how else are we going to save the blood country? Wulf-Soulage is right. The altenative is continuing high unemployment, stagflation and a generally depressed economy and society. Who the hell cares about future high interest rates. As long as the economy is growing, things will work out.
Sir, how do you propose a government of a country buried in debt with dim prospects of paying back same borrow more, and from whom, and to what end?
The country is broke and we have absolutely no sense of the seriousness of our fiscal problems. The lending institutions are wary of extending more credit to us because all the economic indicators point to a country on the verge of default. Struggling to even pay the interest on its debt muchless the billions in principal.
With government revenue averaging about 25% of GDP and government spending averaging about 33% of GDP and underperforming VAT regime, and constantly declining foreign exchange earning capability we need to first put our fiscal house in order before we can embark in ay expansionary fiscal policy that exacerbates our fiscal crisis.
We are a bad credit risk, high debt to GDP, low Investment, little export earning capacity, very high unemployment, unsustainable current deficit, high public sector wage bill, can I go on..
Because of all these factors we are unable to borrow at favourable rates and terms which compounds or debt servicing challenges.
When we ask the government to borrow more and spend more what should the government spend that money on? More STEP, NICE and SMILE? Is it on a modernized airport terminal to an airport with minimal airlift and capacity that will not be able to contribute enough to repay that bill? Or should it be on paying for more salary increases demanded by clueless union leaders?
We cannot spend our way out of this economic predicament we have to export and invest our our way out. So the focus should be on attracting more FDI, encouraging increased banana production, finding ready markets for niche products like virgin coconut oil, cocoa, encouraging local industry from indigenous fruits, vegetables, for local consumption.
Putting people to work, in export oriented or import substitution industry giving then earning power to spur consumption spending, and increasing the tax base.
This should be our main focus not on adhering dogmatically to economic theory that does not apply to our specific conditions and endemic sociocultural and economic realities.
Mr Thomas, your suggestions will take years to come to happen, if at all. Attracting foreign investment is great for the longterm, but St. Lucia needs immediate relief in the short term through a stimulus. Compounding the problem is VAT. Come on sir, Are you proposing austerit at this time for our small island? I dont think what Mr Wulf-Soulage is proposing is old economic theory, it has work in many countries, even those with heavy debt and fiscal prioblems. You need to understand that St Lucia's economy needs a filip right now and that can only happen through a borrowing. Why cant the ECCB provide medium term credit to governments as a form of QE at low,interest rates. Fiscal and monetary policies, when used in concert can do a lot to tame the recession. The proble is, we are not a creative people when it comes to economic innovation. Until that foreign investment which you rightly suggest comes in, it may be too late for our small island. What you are suggesting Mr Thomas has been in discussion for years and it still has not happened. Mr Wulf- Soulage is not entirely off bases with his practical short-term suggestions. That 100 million that KDA promised originally would have probably done the trick. Instead he took money away from the economy through VAT. Now it's time to correct the error. Now we need both short term stimulus and longterm fiscal planning for economic sustainability.
Mr Thomas,
You said that we should first put our fiscal house in order. In the meantime, what should happen? Unemployment heading to 30 percent, business bankruptcies, high cost of living. The priblem is there isnt enough money going around in the economy and that has to change fast before the conditions I mentioned earlier get unmanageably worse. It may be more difficult to get out of a sustained and deep recession than to get out of debt in the long term.
The world has changed since Keynes. States are no longer the powerful actors they once were.
The text books need updating.
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