Jagdeo who heads a special task force by the Caribbean Community (CARICOM) to assess the financial crisis and come up with solutions told a media conference here on Friday that region’s debt situation is worsening.
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| Guyana President Bharrat Jagdeo. AFP PHOTO |
The president believes the poor productivity and the heavy debt build up in the region was responsible for this situation in many Caribbean countries.
This, he said, was exacerbated by the global financial crisis as the demand for exports, remittances and tourism were negatively impacted
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The guy should have read the Protocols of the learned elders of Zion. The document was availbale since 1906. More then hundred years to read at leas the chapter on loans and credit. All them didn't give a f_ck what was going on. All the governments partied away like there was no tomorrow and all of a sudden they discovered they have been f_ked. OK, start crying like babies....Ua..Ua.
ReplyDeleteThe whole world is in deep trouble soon - Bubbles and huge amounts of debt everywhere. The debt supercycle is coming to its ending point soon.
ReplyDeleteBoy; you said it - HUGE amounts of debt EVERYWHERE !
ReplyDeleteIt's incredible - every country in the damn world is broke & more than a few are past broke
WOW !
This is an isolated bankruptcy, it has nothing to do with the world or the US.
ReplyDeleteThe MSM just said we're in a bull(sh*t) market and headed for a big time recovery... Why would the MSM lie ?
Everything is fine. Greed is good. We need more greed from the corporations. Greed is what drives the recovery(yes I am that ignorant).
Goldman Sachs is the best company in the world for greed. We need to support these types of companies... JP Morgan too...
Send your contribution now...
The Caribbean collapsing is not the end of the world... Who cares about them anyway ?
:)
The illusion of prosperity based on ever increasing, highly leveraged debt could only be maintained for so long. Now it's about to come apart at the seams. Like many others, I would really prefer that the SHTF right now, rather than being pushed a little farther down the road each month as more monopoly money is printed and more BS spread by the government and MSM. I'm the type of person who would rather face the problem and deal with it. Yes, it will be hell.
ReplyDeleteOne solution to these unsolvable debt problems for the vast majority of the worlds peoples living in the third world under the dollar hegemony system of free trade, is to pray for or proclaim a “Jubilee Year” , whereby the predominately Christian rich first world countries might get a bit religious and “forgive us our debts” For a fresh start. The only other way out is Peoples War.
ReplyDeleteBut as a large Proportion of the First World incomes is gained by controlling the markets and
finance in the third world including by the supply of counterfeit dollars “aid” they would not have a bar of that, and spend their time blaming the victims and corruption for the third world Problems. So they send in the World Bank and the IMF to make even more loan as “aid “with the demand they should reform and practice “austerity”. And open up their markets even more to ‘Free Trade” by privatising everything including the water supply , so that international capital can invest more freely in the country to provide even more ’development”
It is now clear that the rich world countries have just as many debt an corruption problems as the third world and the solution ,as ever provided by finance capital , is ’austerity” so the rent and interest payments can be made . America, Europe and the American states now face a period of “austerity” to pay the rents to the banksters and bondholders.
Even American government default on its bonds is being considered , the other solution, open to America but not available to the third world, is to inflate away the value of dollar denominated debt held by the rest of the world .This is the Keynesian gangster economist Krugmans solution to avoiding any social unrest in the U.S. that might be bought about by “austerity” and to solve the problems of debt to the pesky Chinese who own at least $ 3 trillion invested in Treasury and other AAA American assets. Not to mention the godamn Japs and oil sheiks.
What would America do, or what would it be able to do if ALL the third world countries united and unilaterally declared their own “Jubilee Year” and ALL defaulted before America does?
The US cannot even win a war against a handful of tribal nationalists and a dead Osama in Afghanistan.
After a round of “austerity” and unemployment in the rich world to pay off impossible debt levels more and more Americans might support the idea of a “jubilee year’ for the poor too, as the only “Christian” thing to do and walk away from their debts instead of walking away from their houses.
Ring in a World Jubilee Year! Forgive us our debts! And God will bless America!
What do these words mean forgive us our “sins”
ReplyDelete“forgive us our debts” or “forgive us our trespasses” mean in their Old Feudal English origin ?
Why is the word trespassing in everyday life still associated with property rights and land titles?
Read the book "Confessions of an Economic Hit Man", by John Perkins, it explains it all, how we, the US, takes over and bankrupts countries, loans millions or billions to 3rd world countries that can never be paid back.
ReplyDeleteOf course now, the US in bankrupt yet Barry is still spending fake money like it's going out of style. Oh wait, it is going out of style.
12:15--the "Protocols" is a proven fake.
ReplyDeleteThis is not an isolated bankruptcy. There is an on-going scandal and revolt in England and other countries regarding foreign debt being bought up by vulture financiers. The debt payments are so high that more countries in trouble are just not paying; others have gone to court to change the terms.
The problem goes back to organizations like the WTO, the IMF, and especially the World Bank. They force countries to accept their terms in order to survive. And since the U.S. is connect4ed to these institutions in various ways, the bankruptcy certainly does affect us.
I agree that Perkins's book is an eye-opener. More posters need to read it and other books--and maybe watch Book TV on the weekends instead of a football game.
the Protocols is not a proven fake at all.
ReplyDeleteRather, it is a document that existed prior to it's 'discovery' in Czarist russia connected to the Jesuit order of the Catholic church.
It was reworded somewhat to give the viewpoint it was written by Jews. That's not the case.
It was written by some very bad and powerful people that are currently running the show.
All over the world the sheeple are suckered into believing that the money is real.
ReplyDeleteTo be given some bullshit currency in exchange
for a days toil,That then becomes a life time of
more of the same deluded nonsense.
So who are the suckers who spend a life time with their head in the sand.
The majority of slaves,drones,serfs,only get too realise this reality at the retired end of a working life that they were just "Expendable containers".