Devaluation talk was a what-if scenario
reporting my presentation on the Budget to the Senate two daily
newspapers of September 4 claimed that I warned that Governments
expenditure could put pressure on the countrys exchange rate
and this could result in the devaluation of the TT dollar if there
was a move towards a wealth-driven economy.
would force a devaluation of the TT currency since the Central Bank
would not have US$2 billion (sold to the local market in 2006-2007)
to play with but a little as over US$1.2 billion.
in the Senate on Tuesday, Senator Rennie Dumas said he was disappointed
that my contention was not supported by solid information.
Senator Sahadeo claimed there was now no threat to the value of
the TT dollar.
the Governor of the Central Bank as reported in the media, said
the exchange rate is reasonably stable because in addition to the
Heritage Stability Fund we have reserves of over $6 billion, almost
one year of imports. Also, according to him, some analysts saw an
thesis of my presentation in the Senate was that the Government
appeared capable of managing the deterministic aspects of economic
growth but has not begun to address the non-deterministic aspects,
risks, of economic development.
an example of a what if I quoted an economist who suggested
that a reasonable successor to our resource based economy after
the petroleum was depleted was a wealth driven one, without the
development of the on-shore sector, in which we would have saved
enough to live off the interest forever.
my analysis of this suggestion I demonstrated (Senator Dumas note)
that we would need to have saved some US$26 billion by the year
2020 and to do this at a return of nine per cent at present value
under the existing circumstances we would have to save some US$1.4
billion per year leaving the Central Bank with just US$1.2 billion
to support the demand of the local market.
the present demand of the local market was today US$2.09 billion
up from US$700 million some four years ago, then with the present
TT dollar spending of the Government either we go back to rationing
foreign exchange, drive the interest rates so high or, as I stated,
see the dollar devalue.
made this what if analysis to demonstrate that a wealth
driven economy on its own, besides its inefficiencies as Prof Porter
describes, is incapable of driving economic development in this
country and would drive a devaluation of the TT dollar.
used this example to make the point that economic development depends
on the creation of an on-shore economy that produces tradable goods
they stand, divided they fall
will the UNC and COP wake up to the obvious fact that they will
lose divided but will win united?
recent Nacta poll has simply confirmed this. And Patrick Manning
has gratuitously given them some time to re-consider either a pre-election
alliance or a post accommodation, thanks to his misplaced pocket
and some pockets of resistance to him.
COP by itself will repeat the ONR 1981 debacle100,000 votes
but not a damn seat for them! The UNC/COP united will revisit the
1986 NAR euphoria without the subsequent fall-out.
should not be flattered by their inroads into PNM and UNC territories.
Regardless of how good or bad the PNM and UNC are they will always
have their core voters.
should COP depend on the undecided and non-voters who
also have their core.
be fooled by the 50 per cent who are against the alliance of both.
Most are PNM supporters who are afraid of it.
either event, they will win more than they lose if they got together.
Winston Dookeran should not be fooled by his increased popularity
present, the COP and UNC are suffering from displaced venom. They
hate each other more than they hate the PNM, both suffering from
inflated egos (the Anti-Christ in man).
major imponderable not being considered by either Nacta or ANSA
McAL is the element of synergy. That is, the UNC/COP combined aggregate
will be greater than the sum of their separate votes. For eg, in
Diego Martin Central, Nacta projects 11 polling stations for the
UNC and 27 for the COP a total of 38. But both parties in alliance
(now a different entity) could exceed the 45 of the PNM because
of the synergy generated by the attractiveness of the alliance and
the awakening of the undecideds and non-voters.
Panday prefers UNC and COP divided to lose than for a Dookeran-led
alliance of both to win because of his past NAR pique. If he simply
decides to ride out in the setting sun and allow Dookeran to saddle
the horse, problem solvedas it would have been in the beginning
if Panday did not separate the posts of party leader and Leader
of the Opposition.
at the campaigns take shape for the general elections, one cannot
help but wonder if the UNC has any intention at all of trying to
unseat the PNM!
UNCs platforms are now specifically designed to attack the
Congress of the People and its almost as UNC is protecting
the PNM by refusing to really use its meetings to expose the corruption
of the PNM.
all we are hearing is the continued fighting in the UNC, compounded
by the absence of a leader too frail to campaign against anyone.
like the PNM and UNC were made for each other. Clearly, the strategic
partnership born in last years budget between Patrick Manning
and Kamla Persad-Bissessar was designed to become a tag team against
we are seeing is the COP basing its chances at government on a campaign
to expose the PNM and provide real solutions to issues affecting
UNCs only campaign is to call for unity and then beat up on
those they claim to want to unite with.
would like to make a public call to the UNCif you have nothing
to say, please be quiet and let big people do their work. You are
doing nothing but annoying people with your childishness and stupidity.
by the old sayingstay quiet and let people wonder if youre
stupid, dont open your mouths and confirm it!
boys need voice
are youngsters of Indian descent living on the East-West corridor
who are suffering. Some experience mental torture at the hands of
men of African origin are a favourite topic of the social psychologists,
worldwide. Many of these learned professionals embrace the making
of easy money-producing books on the failure of the African male.
But we will not go there today. Today, it is the young Trini Indian
who is mentally stretched to the limit and beyond by over zealous
parents. They too need someone to take note of their suffering.
Indian youth are tempted to go the route of suicide rather than
incur the wrath or disappointment of so-called loving parents if
high suicide rate among youngsters of Indian origin is also a worldwide
phenomenon. These children are forced to straddle both worldsancient
India and a western culture their parents sometimes forbid.
Trinidad and Tobago, the ambitions of some parents are just as difficult
for some children to fulfil and we have a few who fall by the wayside.
both sides of the fence, caring too much is as bad or worse than
not caring at all.
is an election year. We do not need the goodly professor labelling
the young people unnecessarily. He is also, unwittingly, promoting
a negative picture of Afro-Trinidadian parenthood. That these parents
are inept and uneducated and do not care about their children. One
has to be careful not to create inferiorities in this multi-ethnic,
multi religious country of ours.
everyone is fodder for Golden Grove, Professor, East-West corridor
wishes Ike Patterson
positive influence of yoga practice is well documented in its transformation
of troubled lives and it is good to know that the T&T Prisons
Service has a programme through the Raj Yoga organisation that can
support people who are inclined to it.
story of Ike Patterson is inspiration for us all and a lesson that
there are many paths to contentment that must be tapped into.
Prisons Services must continue to develop the many avenues that
transform lives so that all and sundry can find their way to inner
peace while in their charge.
wishing Mr Patterson all the best with his studies at UWI and all
his future endeavours and to the prisons services for facilitating
identity, courtesy Ministry
is going on in this country? I applied for an electronic birth certificate
and found that my middle name or other name if you will, is presented
on the certificate as my surname or last name.
online application form I downloaded from the Ministry of Legal
Affairs had no insert point for an applicants surname or last
name; which ever you want to call it. I suspected that something
was foul about that.
raises a legal question, am I still who I was prior to the name
change blunder? The new birth certificate posted to me with my middle
name as my surname officially gave me a new identity courtesy of
the Ministry of Legal Affairs. Isnt that ironic?
implore the ministry to adjust its birth certificate form so applicants
can insert their surnames and all other names for accurate processing.
me before good times end
is an open letter to
am a secondary school teacher who has been waiting a number of years
for my retroactive payment after I was promoted from a Teacher One
to Teacher Two.
Prime Minister could you hurry up and help me.
is on the rise and I am now hearing of an increase in electricity,
water and telephone rates.
hear so much talk about this countrys wealth, but I cant
as a professional I am finding it difficult to live in Trinidad
look at the islands and most families live as tourists in their
own countries. Right in Barbados, middle class families take vacation
trips to Europe each year and right here we have to save for years
to purchase a ticket to London.
islands depend on tourism to survive. We have oil and gas and yet
San Fernando and Port-of-Spain are littered with vagrants.
appears the Government is bent on ensuring that the poor people
of the country continue to remain poor because it has failed to
understand that the good times we are currently experiencing is
purely temporary as they were in the 1970s.
via post should be sent to the
St Vincent Street,
Trinidad Publishing Company Limited
Designed by: Randall
Rajkumar-Maharaj · Updated daily by: Nicholas