tag:blogger.com,1999:blog-51568470756608516272024-03-05T10:37:50.370-05:00Global View Today!Global View Today, is a blog that focuses on international development's and international news analysis, with a twist of comon sense and humour.
While we take the position of a political economist and on the development aspect of things, on many of the issues, we try to represent business, trade, government and finance, all in one swoop with our views!Youri_Kemphttp://www.blogger.com/profile/04826947179576085937noreply@blogger.comBlogger444125tag:blogger.com,1999:blog-5156847075660851627.post-32619339354262625172015-07-05T10:48:00.000-04:002015-07-05T11:44:17.249-04:00BahaMar, a flagging economy and more bad news!The BahaMar Mega Resort project in The Bahamas has hit a snag. Its
developer, Mr. Sarkis Izmirilian, filed for Chapter 11 bankruptcy in the US
state of Delaware on the 29th of June, 2015. This is what one would call the
sum of all fears! <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
According to the declaration sent to the US Courts in Delaware made by
BahaMar's CEO Tom Dunlap on behalf of its Board of Directors, state
that essentially BahaMar hit a cash-flow crisis resulting from delays in
opening this mega resort due to a prolonged construction phase and
additionally claims of less than stellar work done by the general
contractor, China State Construction and Engineering, with the project also
being financed by The Export Import Bank of China. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
In a nutshell: Recurring costs through incomplete
construction in addition to weak revenue due to the fact that the
project has not yet fully opened is really what it is. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
BahaMar was scheduled to open on two separate occasions including the one
now scheduled for October of 2015: Once back in May, 2015 that was put back
because of construction being incomplete and back in November, 2014 for reasons
unknown at the time but that we can now say was due to the construction being
incomplete. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
The recent Chapter 11 filing puts the new opening date of October of this
year in jeopardy as well. One glaring issue is that it is already July, and the
bankruptcy filing was done no more than one week ago. The bankruptcy hearing
can last for up to 120 days, which may not indicate that financing cannot be
secured through the Court of Delaware to complete the project within that time,
but even for that financing to snake down the pipeline; engage new contractors
who may or may not work out in the short term; and continue on with BahaMar's
other management issues as a result of this bankruptcy filing, leaves one to
question how doable the October 2015 date is as well. <o:p></o:p><br />
<br />
<o:p></o:p><br />
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We can only hope that this new date is doable and that the project hits all
green lights coming down the lane in heavy, rush hour traffic. That
and, even if only a short term measure, at least 50% of the Resort can be open
and that the major works are fully completed with only finish-work remaining;
i.e., cosmetic and aesthetically pleasing work. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
To bolster the claim made in the bankruptcy filing in The Court of
Delaware against the China State Construction Company is a
simultaneous writ filed by the BahaMar Group in the high court of the
United Kingdom, seeking payment due to alleged damages done by the
same construction company for $192 million dollars that BahaMar officials claim
was as a result of shoddy workmanship and cost overruns resulting in further
delays and damages. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
To say that this is one huge cluster of confusion is an understatement. A
huge cluster of confusion made more confusing due to the fact that the courts
in Delaware granted BahaMar Group access to $30 million in financing to help
with payroll due to the filing, as well as deal with a few other minor matters,
The Supreme Court of The Bahamas has seen fit not to move on that ruling from
the court in Delaware (at least not up to the penning of this submission)
and has instead gone on record as being "minded" not to grant this to
BahaMar. Under what premise exactly, we are not sure. However, as indicated by
the Attorney General, it raises sovereignty issues: In that how can a
court ruling in a foreign jurisdiction have any sway over the judicial system
here?<o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
Whatever the case is, I am minded to remind everyone that The Bahamas is an
offshore financial centre. We deal with International Business Companies, their
operations and wind-up's all the time. IBC's that conduct business in other
countries but whose subsequent incorporation and supposed managerial structure
is here in The Bahamas. This is not new to us, or should not be new to us.
<o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
Sovereignty concerns aside, the more important issue for us as a supposed
financial and offshore jurisdiction leaves one to question why would a Bahamian
company, albeit owned by a foreigner with status here in The Bahamas, feel the
need to file in the court of Delaware and also have his businesses incorporated
in there to boot? <o:p></o:p><br />
<br />
<br />
A second important issue is that what should now be said, sovereignty
sentiments aside, is how do we incorporate what is done in Delaware here in The
Bahamas? Particularly in light of the fact that The Bahamas was promoted by the
powers that be as having the potential to be an Arbitration Centre for such
matters such as this Chapter 11 bankruptcy filing made by BahaMar and the
subsequent writ in the British High Court to the tune of $192 million. While
this is something we can and should explore, but due to length and
concentration I won't at this time. <o:p></o:p><br />
<br />
However, this speaks to a second part of my humble submission: The lack and
weakness of other components within the Bahamian economy. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
It's no secret the Bahamian economy is faltering. One moiety being due to us
putting so much time, money and human resources trying to shepherd one mega
project, BahaMar, to a successful completion and launch. The other part is due
to what we have always been doing: Not taking concerted efforts and focus on
diversifying established economies and trying to find out the potential of
other sectors of the economy in creative and spirited ways. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
Just recently, Standards and Poor's sent out an advisory about the
possibility of a further downgrade of the Bahamian economy. Reasons they cite
are, of course, the chaotic mess BahaMar finds itself in, and how that affects
every other part of the economy due to factors we have already mentioned: Over
focus on said project and lack of focus on other areas. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
Just to give a little more information on how and why the S&P
advisory should be taken very seriously: The Central Bank of The Bahamas, in
addition to The International Monetary Fund in concert with The
Ministry of Finance, have all pegged GDP growth in The Bahamas at a modest 1%.
A negligible figure, for all intents and purposes. However, this 1% projected
growth had factored in BahaMar being opened and operating fully. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
Clearly BahaMar is not open and to make up any grounds within the next two
quarters of this fiscal year- which started on July 1st, for all intents and
purposes- with a very liberal date being set for BahaMar's opening in October,
we have some serious steering to do. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
All of this having been made worse by a newly implemented Value Added Tax in
January, 2015. The projected tax-take for the last two quarters of the previous
fiscal year was $150 million, albeit unconfirmed. The total yearly projected
tax-take is slated at just about $300 million. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
What's even more concerning as the new VAT take is added into the mix, a
weaker than normal growth trend, and with ratings agencies like S&P wanting
us to show more wisdom with our finances, the government has seen fit
to pay the workers at BahaMar their salaries to the tune of $7.5 million and
have thusly foregone some of their debt obligations for a short time. We hope!<o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
If this were to be a prolonged trend, with VAT gains being used to support
BahaMar's opening, with no idea if the resort will make what it claims it can
make in this economy, with this BahaMar project already estimated at having
received over $1 billion in concessions that may not be in dollar figures
account to value not being placed on other areas, in addition to BahaMar having
anywhere between 25% to 30% of our tourism revenue when you account for air
arrivals, rooms, amenities, entertainment, employment and other related
expenditures as a result of tourism activity, one cannot say that S&P is
not justified in their approach to cautioning us on a downgrade at their next
visit and assessment of The Bahamas. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
As this author had mentioned before with regard to an <a href="http://www.caribbeannewsnow.com/headline-Commentary%3A-The-IMF-came-to-town-and-they-left!-(audio)-25488.html" target="_blank"><span style="color: blue;">IMF consultation assessment</span></a> done back in February of 2015,
we just could not see, outside of the IMF being diplomatic and calming through
times of change and chaos, could any favourable assessment be made with the
prevailing matter of BahaMar the way it was even back then, in addition to
other matters highlighted and raised. <o:p></o:p><br />
<br />
<br />
One can only hope for better for the future. But cautions being raised on the
pending S&P downgrade leaves us a little dispirited and looking for
solutions. <o:p></o:p><br />
<br />
<o:p></o:p><br />
<br />
While a potential downgrade was not something expected to take
place on the back of the stumbling of the BahaMar project, particularly when
the budget for the project was pegged at $3.5 billion, but we hope the wizards
at The Ministry of Finance could persuade the ratings agencies to look at other
areas of this economy in an attempt to show more favourable prospects in both
long and medium term. <o:p></o:p><br />
<br />
<o:p></o:p>Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-88751126437648353002015-06-28T09:40:00.002-04:002015-06-28T09:44:56.909-04:00Leadership: What does it mean to you? The big "L" word is being tossed around more violently than two puppies thrashing around their favourite chew toy. For some reason, the word leadership is being uttered on just about every street corner, on every talk show, every household I visit and used in virtually every social media post. It's like, everyone just recently found this new word and thus they must use it to its fullest. However, leadership is not a cheap word to be bandied about loosely. In fact, it is a very serious word in our topic of discussion that must be given the full attention it deserves. <br />
<br />
From time immemorial, leadership has been a fundamental issue for societies, from government, to the church, to the household and to civic partnerships. <br />
<br />
If we only go back as far as the Christian sacred text that many of us in the Caribbean lean on for our daily bread, the bible, one can see how leadership causes either prosperity or hardship for the people that leadership serve: From Nimrod and his infamously failed attempt at building a tower to stretch to the heavens to God, which can be interpreted as a metaphorical discussion about a man's failed attempt at attaining too much knowledge for his own good and being confused by his own understandings; to King Nebuchadnezzar in the book of Daniel, who went insane due to his own pride for over seven years, after having taken the kingdom of Babylon through one of it's most extensive periods of expansion and construction; or, one of the most famous biblical leaders of them all, King David, who was claimed to be a "man after God's own heart", who's acts of leadership, heroism and at the same time having a classical taste for the arts and for which he was a chief patron, was overshadowed by his acts of lust, extreme vengeance and an uncanny knack for winning and beating the odds at all cost, even if it meant he had to use a little "extra" leverage to accomplish his goals. <br />
<br />
What these messages about leadership, from a biblical perspective, paint, is one obvious picture: Even great leaders have flaws. They all fall short. However, history is the one that tells the true encompassing story on their accomplishments and failures. And, while they all had flaws, their accomplishments will be remembered always in the context to which they were done in their time. No one, no leader, great or small, can escape the appraisal of the ones recording their story and tenure in leadership, because it is the following generation that writes the former's legacy. Not the other way around. No matter how long you live, or how much you feel you can live forever, you must die. You will die. It's just the truth. <br />
<br />
The focus and challenge for us in contemporary times, dealing with leaders and the issue of leadership, is how do we encourage leaders to not be on the wrong side of history before they pass away to their eternal reward, or punishment, however you feel necessary to think about where they would end up based on their current behaviour at this time. <br />
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Too often, we are dazed with the mesmerizing glare of leadership before we are suckered into the problems of that dizzying glare and all that follows. It's like a championship prize fighter sweeping his left jab across his opponent's face, an opponent just happy to be in the ring with the proclaimed best fighter in the world and most likely one of his idols. Then that champion starts moving right, then moving left, shuffling and dancing, making his opponent stand in awe at how gifted he is and his mastery of technique and skills. Then, all of a sudden, the champion comes back with another sweeping, soft left jab but only this time having it followed up by a piston-like right hand to the side of the challenger's jaw that puts the challenger flat on his back. Out cold! Stretched out on the ring mat like a dead fish on the deck of a Boston Whaler, and not having seen what hit him and probably won't feel the pain of it all until the initial shock wears off after regaining full consciousness and feeling in his face. <br />
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To put it even more succinctly: It's a great flaw to become enamoured with people that claim leadership, but who are only really just the person in charge for the day, and also to be enamoured with persons who have done, quite literally, just the bare minimum requirement of the leg work to be in their position, and have provided very little in terms of quality leadership that moves the chains down the field, so to speak, to use an American Football analogy.<br />
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Leadership is much more than just being in charge, holding the keys to the store, telling someone what you feel they should do, or holding a title that says we must "respect" you for the title you have. That's not quite how that works, even though some slip past us under the radar. <br />
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As we have seen with at least two of the three biblical examples, King David and Nimrod, not every leader, the great ones and not so great, lead for the best interest of everyone in the short term. As with the example of King David in the short term, many colleagues and associates fell unjustly at his request. Or, as with the case of Nimrod whose foolish attempts at being an everlasting ruler, ended in literal chaos and the subsequent destruction of his dynasty, at his own hands and at the expense of his people.<br />
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With this understanding now, it is up to us, the followers, however counter-intuitive it may sound, to shape what it is we want leadership to do and keep them on that straight and narrow path. <br />
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So, as the initial title of this submission and question: What does it (leadership) mean to you? Are your short term goals being met, by virtue of your leadership, providing the access and avenues for those goals? Is there any inkling of your long term goals materializing to the point that you see a permanent way out for you and your kids and their kids? <br />
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You see? I'm trying to flip the script a little on this question of leadership. Flip the script away from the monotonous discussions on short-term failures or lack of an encompassing vision on behalf of individual leaders, and placing the role of leadership squarely on us. Us as in the people that look to leadership to provide that spark, that ray of hope or that light. <br />
<br />
If your leadership sucks, then perhaps it is you that's the one that isn't aware of what to request from leadership, or your selection criteria of leadership needs revision. <br />
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Promoting this new notion of leadership, places the power back into our hands to either change the leadership, or encourages us to ask the right questions and then point supposed leaders in the right direction to get things done. The latter sounds counter-intuitive, right? However, leadership is a two way street. One cannot lead unless they have followers, and followers have a cause they are attracted to. One cannot be a follower unless one has a leader, and leaders are the chief follower of a cause who are uncannily propelled into action by those that have fragments of the issue or cause that needs to be crystalized into one package that only a few people have the capacity, ability, intelligence and inclination to formulate and articulate. Thus, one person must lead. <br />
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Sure, there is a term called "team-leadership", but more often than not there is always one deciding voice that makes or breaks the core decision down to its workable essence. Always!<br />
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So, I ask again, after having read my take on the matter and reading what my core essence of leadership is: What does leadership mean to you now? <br />
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Before you go ahead and blame weak, oppressive, indecisive, tone-deaf, fraudulent, wicked, deceitful, flaccid, corrupt, neglectful, uncaring, intrusive, childish, churlish and spineless leadership, and any other manner of adjectives and mixture of those adjectives you can ascribe to your leadership, really ask yourself: What is it that leadership means to me? What do I wish to be led on? What do I want from this relationship? Does this person cut the mustard? Are they effective in motivating me with their grasp of the issues and causes? Are they just mimicking what it is I want to hear, regurgitating my fears word for word, without telling me anything new? Are they articulating different aspects of the issue, cause or problem to me, at the very least? Have they failed even before I am willing to give them a chance? Ask yourself! For your own good. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-85297253180766307252015-06-21T09:23:00.000-04:002015-06-21T10:04:29.442-04:00How often do you say you love your country? Times are dark. The saying goes: "Tings red!". But, while things are challenging, does it necessarily mean that everything must be complained about and one must be upset every living day of one's life? Certainly not. So, how does one shake off that miasmal thinking of ubiquitous melancholy and pervasive angst against any and all things? One word: Love. <br />
<br />
Now, before you call me a peacenik-ing do-gooding, lovey-dovey pacifist
beyond all sense and sensibilities, let me say quite clearly: There is not all
things in The Bahamas I love. In fact, some things that happen in my country I
abhor with a disdain so great that if my thoughts can burn holes through
those partaking in the so-called debauchery and wickedness, I would do so and
take the charge from the judge. Plead guilty if the judge allows the amount of
time I need and require to read my version of a country manifesto for righting
these disgusting wrongs! <o:p></o:p><br />
<br />
However, it's not my world. I don't have super powers. I can't wave a magic
wand and make things appear great when they may be worse than bad. I was told that
I can if I really tried hard enough, but I think folks were fooling me into
thinking that. Possibly! Let's just say my attempts have been fruitless up to
this point, with a slim chance they may work in the future. Good? Good! <o:p></o:p><br />
<br />
Now, let me state emphatically: I love my country! Can you say that with me? I love The Commonwealth of The Bahamas for which it stands. One people united in love and service. <br />
<br />
Now, that wasn't so hard to do now was it? Especially out of the season of Independence celebrations, where outward displays of national affection would be considered normal, saying I love this country on a cool morning in January is just as easy as saying it on a boring day in mid-August. <br />
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I reject, wholeheartedly, this notion that in order to say you love this country, you have to show up and be front and centre at every independence celebrations, at every national event, stay draped in your flag every day of your waking life, or call in every talk-show for every day for the rest of your life and recite the pledge of allegiance in the most dramatic and passionately frothy manner as that of a grassroots Baptist preacher deep into his Sunday morning sermon about how you are all going to hell if you don't repent, making parishioners fall into the full spirit (not half spirit, but full spirit), turning the Church auditorium into a violent sea of Glory with the choir and band in the background sending them higher and higher. No! <br />
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In fact, while I appreciate those that have the time, inclination and energy to show this affection at every day of their waking life, I am not a fan of those that say that one must have this zeal on tap because they say so. I'm also not a fan of those that say: "Oh, you don't go on our little protests and marches and rallies. You are not serious about this country, because if you were, you would show up with us and show people how serious you are!" Yea, the emotional politicking and grandstanding goes very, very deep indeed. They almost make you feel guilty for not being a part of their cause of the day. <br />
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My thing is, and I speak for myself and maybe for a small-faction of intellectual dissidents that don't appreciate being "goosied" into the self-righteous indignations of the day: Don't judge me, and do not question anyone's love or heart based on what you feel it is. I love my country, and I show it in my own way when I want to. Fair? Fair! <br />
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Why do I love this country, one may ask? What's so great about this country that you love it with a burning fire deep down in your soul? Well, the obvious answer to it is: What other country was I born in, a country that is mine and that I would most likely be buried in? If you don't like where you are, or at least make the best of life where you are, then what good is life to you and this country to you? Consider it. <br />
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Also, what's not to love about it? Joblessness, crime and the political and governmental inertia aside, the people are cool people, if I may say so myself. I have no true problem with the lot of you, to be quite honest. <br />
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Bahamians are nice to a fault at times, however. Overly nice to the point where some would mistake that for foolish. Seriously. But that is not an overwhelmingly bad thing, it's just that we need to find ways to love in different ways that shows our strength and decency than just laying down, flat on our back, like a puppy looking for a doggie snack and a belly rub from their master. <br />
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I feel we owe it to ourselves to love our country a little more than what we do. That love does not mean we kiss, hug and look the other way when things are going on that affect our lives. It means the exact opposite, quite frankly. <br />
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How can one say that one loves their country and see a violation taking place, but say nary a word let alone do something about it? That doesn't mean you have to march on parliament, but every day acts of acknowledgement for the good and the bad works just as well. In fact, private rebuke, in significant times and places, works just as well as open rebuke and public shaming. <br />
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Also, there is nothing in this country that should be seen as a sacred cow. Absolutely nothing. No one person, from the Governor General to the young toddler in the inner city, deserves a pass off-top because they feel, or some feel, they deserve it this one time. <br />
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On the contrary, this forgive them now, this one time, or let's have pity on this one now because we feel he is sorry, works out to the detriment in more instances than it helps. There must be accountability at all levels. If you can't hold your brother, cousin, mother, father, wife, husband, etc... to account, then you serve us and this country no use whatsoever. <br />
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What happens is, and this is one of the faults of our overly loving and understanding people, is that when we show that blind-eye to wickedness under the rubric of being caring and loving, or show that understanding for behaviour and acts that are deleterious to the fabric of our society and small enclaves as being "just that incident", it continues more often than not. What happens is the worst of the worst amongst us, from the criminals with the handguns and knives to the other criminals with their pen and paper, from the street corner to the government to the church hall, game your emotions and get away with the most egregious forms of debauchery and wickedness because you like them and can't separate their penchant for anti-social behaviour from their person. <br />
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My call to all saints and aint's: If you love your country as you say you do, always do the right thing. Always love it from the position that if it were me, what would I want done? If it were my life, name, family, etc... on the line, then how should this be dealt with? <br />
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Show love. True love. I love The Bahamas! Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-43690693971229379422015-06-14T14:22:00.001-04:002015-06-14T14:22:45.722-04:00Let's praise our police force!Too often we neglect to praise our national heroes. Often times, unsung heroes do most of the work with little notice from the general public for doing their jobs. This is not something that is intentional, not by any means. But it is something, this symptom of forgetfulness, which makes us highlight the shocking and dramatic over the seemingly mundane and simple things, is something I wish to check for just one second as often times the small things that people do on a daily basis that saves lives and builds a better Commonwealth is what matters most. <br />
<br />No group of heroes go unsung than the good, hard working officers of The Royal Bahamas Police Force. God bless them all. Really and truly these brave men and women deserve more honour, recognition and respect than we give them. To that, I apologize on behalf of those that don't give you enough credit and accolades, and on the other hand I wish to sing in chorus with those that do so. <br />
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What's been happening on a seemingly daily basis, when we hear of police versus civilian conflicts in America, and quite specifically police officers versus Black American civilians, is too often one of fatal consequences and more than a healthy portion of the times fatal for the civilians. Stories of police officers shooting unarmed men, some men as young as 12 years old, leaves one to wonder what in the world is going on in America and their apparently rogue police forces. It really is disheartening. <br />
However, when you look at the police force in The Bahamas, one would be a fool to suggest that the level of distrust between the forces and the civilian population is anywhere near critical levels. Not even the use of force is as obscene and overhanded as we have seen regularly reported in the news in America. We should all be thankful. <br />
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The life of an officer must be very challenging, and stressful. Not only do they deal with gruesome scenes and horrific acts of brutality on a regular basis, they also have to deal with sensitive family and relational issues like rape, incest, child abuse and petty fraud with the latter a most vexing and upsetting matter to deal with. I say vexing because, nine times out of ten, the fraud cases are very elaborate and the perpetrator often times is someone trusted by the community or someone that has gained the trust of their victim by being the stand-up, salt of the earth citizen. In addition, more often than not, small and medium fraud cases are swept under the rug, money very rarely recovered, but lives are turned upside down and with very little the authorities and the police themselves can do about it. <br />
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Moreover, no one takes the time to consider the emotional and psychological damage done to our officers as a result of the apparent high levels of crimes and abuses taking place in The Bahamas. The level of trauma and stress related illnesses must be very significant, and in fact changes a person that has to deal with it on a regular basis. <br />
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I have known persons shocked and appalled by simple videos of humans acting at their worst. I personally have been traumatized by my first beheading video, and just as equally still as shocked and upset by a video leaked online showing an African babysitter abusing a 1 year old infant in the most inhumane, cruel and disheartening ways a human being can treat another human being, let alone an infant unable to defend itself. The images of these events, that I saw by my own free-will and nothing foisted on me, or nothing that was thrust into my circle by forces uncontrolled by me, still haunt me. Can one imagine what our officers go through on a weekly basis? <br />
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To go even further, our officers not only deal with the inhuman-humans among us, but they operate in very blighted and depressing corners of our society. Anywhere from seedy, run-down public houses, to depressed communities with even more depressed community members, to obscure and remote areas within our Family Islands where matters must be dealt with at a true community level, and many a times our officers must not only stand as peacemakers, but protectors of the greater good as they make judgement calls on what is something that can be dealt with between people, and what matters must be dealt with from a state and governmental level. The pressure of this, I can empathize, is phenomenal. <br />
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No one is asking our police officers to be super-human. No one is even asking them to be of high moral fibre, because they too have their off-days and among their ranks, a few less than human-humans. However, whatever day they decide to go to work and deal with the matters we, as civilians, can't possibly begin to deal with ourselves, is a day I am forever grateful that we pay them to do this for us. <br />
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Without a doubt, and while some persons within our community would take the cheap way and bash our officers for the work they are doing, often times bashing officers for officers calling out these very same civilian rabble-rousers for their anti-social and disruptive behaviour, bear in mind that we live in The Bahamas. Not California or Texas USA where civilian deaths at the hands of police officers are higher than the American average, by far and they are both ranked #1 and #2 respectively. Not even Iraq or Liberia, where the armed services, and in particular the local police forces are less than stellar protectors of the peace. But The Bahamas, where there is still a great chance that the police officer you meet on the street is your family member, or a friend of a friend, at the very least. <br /><br />Let us all give them the common courtesy, respect and show them that we understand what they deal with on a daily basis. To those hard working police officers, a heartfelt thank you!<br />
Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-29856478754979021682015-06-06T18:48:00.000-04:002015-06-06T18:48:43.218-04:00Democratising public institutions: Reform needed!If Bahamians got through the implementation of Value Added Tax, they can get through anything. Thus the confidence I have in reforming our public institutions charged with monitoring the integrity of our systems. <br />
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No matter how altruistic a person may appear be, or persons, things happen. Well, politics happens! Even with persons in office that are less than worthy of being in charge of a slum village, let alone a thriving country, when they taste the power of the office and find that the processes and institutions that were once abhorred when in opposition, become very, very useful and necessary. Yes! <br />
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That's life. That's people. That's the human element. This is why advocating for strengthening public institutions and democratising to the people more institutions should be a priority. <br />
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There was an interview conducted on one of the local radio shows. The leader of The Democratic National Alliance, Branville McCartney, is advocating for the position of Attorney General to be a stand-alone elected position. He made these remarks in light of recent events on the rules and regulations of The Public Accounts Committee and a matter involving a sitting cabinet minister interfering with a judicial and administrative matter, and the consistent appearance of The Office of Attorney General being placed in situations where it may have to investigate and give rulings on matters involving their colleagues. <br />
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That indeed is a very progressive and comprehensive approach to democratising institutions, and more along this line of thinking is needed in today's Bahamas. <br />
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However, I wish to direct your attention to two other posts, both equally as important, both constitutionally mandated and both with latitude to carry out their duties on behalf of The Bahamas and the people they serve: The Office of the Auditor General and The Public Service Commission. <br />
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The Auditor General's office has the constitutional mandate to investigate public expenditures at any given point and time to check for inconsistencies and irregular spending and fiduciary issues that may be as a result of malfeasance, negligence or all out theft and fraud. The Public Service Commission has the constitutional mandate to exercise disciplinary control over public servants, in addition to give advice on promotions and increases in emoluments for public servants. <br />
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Before the recent information brought to light on the improper spending in The Public Hospital Authority and The Urban Renewal Programme, and just recently a 52 week jobs programme, very few persons had the slightest knowledge that there was such a person as an Auditor General, the person had a name and he had such a powerful agency. <br />
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Even fewer realize that we have The Public Service Commission as it is either, let alone who sits as the commissioners. <br />
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While there has been calls for the creation of an Office of The Ombudsman, the Public Service Commission has most of the framework to deal with some of the administrative and policy matters as it stands now. The only difference in this scenario is that the Commission only deals with internal public service matters, which means it does not hear external complaints on the civil service, wider corruption and criminal complaints of fraud and public service malfeasance and neither does it typically investigate past middle management. <br />
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In light of the myriad of claims of public servants abusing their position against the general public, and against their own colleagues and comrades in the service, productivity of their services, and even more so with regard to the recent issue of a senior cabinet minister allegedly interfering with a civil servant's duties as an out-island commissioner and a sitting magistrate that went all the way to the desk of the Attorney General (which it should not have, because the public service commission has the constitutional authority to discipline, and by extension the power to investigate and probe under this one perspective), the position is and can be made more important to the framework of The Bahamas than many people think it is or even care to know that it is or can be. <br />
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As it stands now, both positions of Auditor General and Public Service Commissioners are appointed by The Prime Minister, in consultation with The Leader of the Opposition and their recommendations are given to The Governor General for their approval. An approval that they will not, in most instances, withhold or reject for any reason, may it be slight or drastic. <br />
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So, with all of that constitutionally mandated power, why aren't they more effective and above all of the public scrutiny of their work? Well, let's examine the problem: <br />
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<li>They, while constitutionally mandated, are appointed positions. So, any government that has the power to appoint, has the power to disappoint. </li>
<li>Since they are appointed, it means that their first priority is to the people that appointed them. Or, the person that has the power to revoke their appointment. Not the wider public. </li>
<li>While they are fixed positions constitutionally, because they are appointed, means that if they wanted sensitive information to carry out their work from a government that has the power to remove them, they know how far to go with regard to their request for information to carry out their investigations. </li>
<li>These positions do not have veto powers, reach in powers above what a sitting government allows them to reach in on, and neither do they have at their command any supplementary investigations' agency, public or private, which they can deputize to assist with information gathering aside from their own. </li>
<li>They don't have money earmarked in the national budget to carry out their work, even if they had the manpower and all other forms of powers legally mandated to them. </li>
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These five critical points are thee most important issues with regard to the proper functioning of these agencies for the benefit of the wider public. All other problems, optical inconsistencies and administrative weaknesses, tie into these five core points. <br />
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So, how does one solve the problem that these positions of sinecure allow to exacerbate? To follow the line of the DNA's leader, elections would be a good start. <br />
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Of course, making them elected offices mean amending the constitution to stipulate that fair and due elections must take place. This almost certainly means a referendum to the people. A referendum would be fitting in such important instances such as this. <br />
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While The Bahamas has faltered on winning referenda in the past, if a referendum is what is needed to ensure such institutions are strengthened for a better democracy, then a referendum is what we must have. <br />
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Along with elections, I wish for my audience to consider some other important governmental strengthening issues that may be addressed with regard to reforming The Public Service Commission, The Auditor General's office and introducing an Office of the Ombudsman, at the very least: <br />
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<li>Earmarked money that does not go below a certain percentage threshold, and not to be manipulated by the government of the day through any means other than a direct act of parliament and no more than 2/3rd's of the vote. Not a simple majority. </li>
<li>Allow for strict term limits for each post to run outside of the national elections. This would provide clarity during a non-election season where voters can assess the integrity of each candidate and their suitability for the position. This would also work in favour of persons not of the persuasion of the sitting government to be elected if the general population feels as if a sitting government needs more oversight.</li>
<li>No person aside from a sitting member of parliament should be barred from running for any post. If a former member of parliament wishes to run for a post, he must be one parliamentary term removed in order to become eligible. </li>
<li>No person should hold the post for more than two consecutive terms. In the event they wish to hold office again, they must wait one term to again become eligible. </li>
<li>Mandate for these offices more investigatory powers, subpoena powers and disciplinary powers in light of them giving their advice on final measures to the Governor General and the parliament. </li>
<li>Allow for these agencies to contract and sub-contract persons or firms to assist with their duties if need be. These requests should have a time limit for their approvals and must be approved by the parliament in direct concert with the Public Accounts Committee on a 2/3rd's majority vote.</li>
<li>Allow for the powers of prosecution for the office of the Auditor General and Ombudsman, separate and apart from the Attorney General on matters directly affecting their mandated duties. </li>
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These are not radical ideas. These are understandable ideas. In many countries, albeit not within the Commonwealth Realm, there are elections held for the Auditor General and Ombudsman. <br />
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I think that, in light of our loopholes and issues surrounding the lack of true oversight in many of our agencies, this is one time where The Crown has not grown with the culture of politics within its former colonies. <br />
<br />Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-24904854799604968202015-05-31T17:23:00.000-04:002015-05-31T18:30:50.431-04:00The 2015 Budget Communication. What's new?The prime minister, and also the minister for finance, The Right Honourable Perry G. Christie, presented his 2015/2016 budget to the parliament on Wednesday, May 27th. <br />
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As expected, there were cheers for the budget, and of course also a few jeers. Some said that the persons responsible for bringing the Value Added Tax to being in January, 2015 should be Knighted. A little exuberant, but you can give them that if you wish. <br />
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Of course, some opposite asked if raising taxes was a pre-requisite for Knighthood these days? Of course the answer is no! Tax reform should be however, and we have had too little of that but a great deal more of just plain old taxes. <br />
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There are some good things to be really hopeful for if presented in truth in this year's communication, even though a great deal of it was said last year in almost the exact same manner. <br />
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The most hopeful thing in this budget was that they did raise, since January's implementation of VAT, an extra $150 million as a result of the measure. <br />
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Last year's recurrent revenue was $1.465 billion, and this year it is expected to reach $1.771 billion. A turn around of about $300 million, with VAT receipts amounting for $150 million of that total take. The total tax take from VAT was projected through a full fiscal year to be $300 million. <br />
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What's striking to note that while this would be the third consecutive year under the current administration that The Department of Customs has not completed their reformation exercise, with Customs being the top revenue agency, the government netted an extra $150 million in addition to the $150 million they added from VAT. But, if rings true, and of course the figures are subject to be revised, then it is a good achievement thus far and it is one thing we can feel comfortable on that something has been done. <br />
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Expenditure on the other hand is expected to increase on the backs of a few large initiatives proposed in the budget communication, inclusive of $60 million towards upgrading the hospital; $20 million for the Urban Renewal Programme; Increased welfare through Social Services; and a Bond issuance for the construction of 1,000 new homes. <br />
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Also, and this may affect the revenue side and the balance between revenue and expenditure in light of the additional taxes expected from VAT, tariffs on car imports in addition to exemptions for first time home owners are expected to be reduced. In addition, a ban will be placed on cars over 10 years old. <br />
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As some would know already, but just to state clearly, vehicles are thee main source of revenue through Customs. It is the largest, line item on the customs revenue side. The tariff rates are expected to be decreased from 65% to 45%. Coupled with the ban on cars over 10 years, the revenue side will look dramatically different even in light of the VAT efforts. <br />
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Nevertheless, VAT is set to offset these reductions. However, by how much will be the question. Just to give you a scenario: If all else remains the same, and less car imports are as a result, and VAT on car imports was $10 million. If car imports were to decrease by 20%, then the VAT take on car imports would also decrease. Get the drift? So, if one were to rationalize that based on the 65% rate that VAT receipts from car imports would be $10 million, if the rates are decreased, with the effect of lesser car imports, revenue enhancement measures may be thwarted. <br />
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This is also under the assumption that car imports would decrease, based on the relatively high rate of even 45% on car imports. This is also assuming that people have money to buy cars at the rate of which it is expected to receive a return from Customs and VAT receipts. <br />
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By and large, car imports may seem as a small issue compared to the overall economic trajectory of The Bahamas, even though it is important to the revenue side of our fiscal affairs. <br />
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More importantly, and in this author's estimation, efforts were missed with regard to pro-growth initiatives for the many. After the last budget communication, 2013/2014, up until the presentation of the mid-term budget in February, 2015, people have been advocating to more progressive forms of economic inducements. <br />
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Thus far the efforts for such have been limited. Notwithstanding the measure to reduce business license fees, which within itself does more for the bottom lines for individual companies during these still yet soft periods of economic activities, than it would boost growth in the main. But it is welcomed. <br />
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Issues such as trade, economic liberalisation for Bahamian citizens, the opening of services for smaller firms to participate with the government, other private sector tools to boost economic activity both locally and internationally, have been missed. <br />
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Of course, the saying is that the government does not create jobs, or spur economic activity. But it is the private sector that does that. However, when we speak in terms of regulations, allowances, contracts, corporate tools and business environment systems that the government can and has employed in the past to suit efforts, we can safely say that little to nothing has been done for the majority or in an encompassing manner that speaks to the nature of those below. Quite frankly, this is the most appalling part of the budget communication this year, and of previous years. <br />
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Particularly in light of the issues with the BahaMar Resort not being ready to open, management contracts to external firms, some of which were not articulated in last year's budget that they would be engaged, little or next to nothing is expected in the short term with regard to growth and opportunities. <br />
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We just can't all go the prime minister's office and wait for assistance, which seems to be the norm with some. We also all can't do the same thing. We certainly can't sit there and allow opportunities to slip by while those outside get the lion's share. It just won't cut it for the future. <br />
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As an aside, issues such as the ever present inflationary pressures, which can be classified as naked stagflation, coupled with financial transparency and accountability measures, we have to continue to push for a loftier goal for all and sundry. Forward, Upward, Onward, Together! <br />
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In total, with all things articulated in this submission, we must continue to push for better. We deserve it! Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-87193042559675682192015-05-24T11:49:00.000-04:002015-05-24T11:49:02.252-04:00Prepare, the Ingrahamites are near!Ever since the opposition party, The Free National Movement, elected their leader, Dr. Hubert Minnis, in a snap mini-convention and with Dr. Minnis having staved off and cut off a surging challenge from his fellow opposition member of parliament colleague, Mrs. Loretta Butler-Turner, his leadership has been met with fierce criticism from persons within his own party. Most of which are from a small, but yet powerful faction of persons loyal to their former leader and former prime minister of The Bahamas, The Right Honourable Hubert Ingraham. <br />
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None more prominent in the cacophony of discontent within The Free National Movement with their leadership is that of the former deputy prime minister under Mr. Ingraham, Frank Watson. <br />
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Mr. Watson has said that the current leader of the FNM is tone-deaf to his, and other's, suggestions on how the party should proceed. He also said that the party is in serious problems if Dr. Minnis's current style of management continues. He was directly quoted as saying that the current Chairman of the FNM is "talking nonsense" and that the Chairman is "out of the loop" with the real players in the party. And that was just last week! <br />
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Without a doubt Mr. Ingraham has left an indelible mark on Bahamian politics. The first prime minister in the era post the near invincible Sir Lynden Pindling, and having served three terms to boot. Quite a feat in a modern and fair democratic government process for anyone from anywhere in the world to have served as leader for more than ten years, whether consecutively or non-consecutively. <br />
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Of course, this means that there are a lot of people that are very, very loyal to Mr. Ingraham. No doubt, he has in fact helped a great deal of people. He also had an uncanny knack for placing people in strategic positions in the public and private sector, persons who have been able to maintain and make valuable contributions to our country. <br />
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However, as with many a leader in democratic, and not-so-democratic fashion, the love affair between them and the people often go sour after it becomes stale and methods become ineffective. Good enough for us that his departure from front line politics was met with peaceful transition, and not with a coup or some form of violence. I am proud to be a Bahamian on that score. Truly. <br />
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Mr. Ingraham was beaten by his immediate predecessor and his successor to his first term in office. To be succinct: The current prime minister, The Right Honourable Perry Christie, had a one term stint in between Mr. Ingraham's terms of service. Mr. Christie won in 2002, lost in 2007 and then won again in 2012. <br />
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What's also a pretty well known fact is that Mr. Christie and Mr. Ingraham share a very funny distinction: They were both fired as cabinet ministers at the same time on the same day under the same circumstances under the Sir Lynden Pindling government. <br />
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Without labouring through the often times murky and gossipy reasons as to why they were fired, to cut a long story short: Mr. Christie and Mr. Ingraham ran as independents in that subsequent election that the governing party, The Progressive Liberal Party, won, with Mr. Christie opting to go back to the PLP and Mr. Ingraham opting to go with the FNM and then becoming prime minister in 1992.<br />
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Sure enough, along with that distinction, they also, as reports claim, share a close bond and friendship. They were former law partners in addition to standing as God parents for each other's children. They also share the same, small group of friends and associates. <br />
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Leading anyone who does not fall into the spell of the occult-like style of politics in The Bahamas: We have essentially been ruled and governed by the same small group of people for over the last 20 plus years. <br />
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Regardless of what anyone tells you, even with a strong man like Mr. Ingraham: No one runs a country by themselves. All strong leaders, and more so with not-so-strong leaders, have supporters, cronies, lackeys, bag men, go to guys, key writers, image makers, covert operatives and public relations gurus that all play a part in making them look on the ball, as well as their relational associates and family ties that hold them down, at all times. <br />
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To go even further with this relationship that both men share, during the 2007 campaign and at a campaign rally when Mr. Ingraham won that election year, Mr. Ingraham remarked in a quite jovial, but yet sneering and mocking manner, at a point where then sitting prime minister Christie, during a time where he had fallen ill and had to take an indeterminate time of leave, had asked him to "run" the cabinet and the country until he had time to convalesce and get back on his game. By-passing his then deputy, Cynthia "Mother" Pratt and the rest of his cabinet ministers in the PLP. <br />
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So, essentially the "Ingrahamites" aren't just near, they probably never left. Which is quite important for our country, because as mentioned previously: Ideas, ways of doing business, methods, people and their minds become stale and ineffective. While continuity is important, quite frankly, when you look at our daunting issues: Who wishes that? <br />
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When you sit in one spot for too long you become immune and blind to what's around you. You don't see "the problems", you just continue with your solutions which you feel worked 20 years ago and so they must work today. This is even worse for those that are eating their fair-square 3 meals a day and have no worries about those meals tomorrow. <br />
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This clearly suggests, at least over the last 10 years, the same solutions have not been productive or user friendly. To say the very least. <br />
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With all of that being said however, I think this is a perfect time to hear from former prime minister Ingraham. <br />
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The way he left after the 2012 election was, to put it quite mildly, abrupt, seemingly callous and a little selfish. It was like the Bahamian taxpayers wasn't allowing him a salary and leeway to do what it is he was charged to do. This was a lot worse than the first time he left the scene, more or less, at the height of a mild recession after he had lost in 2002. The state of affairs then was not "this bad". <br />
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The country has not fully recovered since the 2008 global recession. Unemployment is still stubbornly up; the ease of doing business rankings are slipping; investment, both local and foreign, is not vibrant and with the latter we need less of and more of the former; crime is still miles high; public services are still reeling from the ravages of the recession and morale is low because more burdens were placed on them; and the overall sentiment from Bahamians is one of hopelessness amidst waves and waves of missteps and oversights that turned into full-blown fiascos under the current administration, all at a time when we need concerned and concerted consistency and clarity on all fronts. <br />
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I mentioned to one of my colleagues just recently that I would like to hear from Mr. Ingraham about all and sundry, regardless of how it looks now: From the current state of the economy, the way we look internationally, how he feels businesses can be better served, how the small and not-so-small can better integrate themselves into the process he left behind and his overall outlook on his party, the FNM and the fighting that is looking very, very nasty. <br />
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To be fair, he did not give us our just due as citizens in giving a full account of his tenure. A de-briefing, of sorts. <br />
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Even a very prominent businessman, Franklyn Wilson of Arawak Homes, feels the same way as I do. He too also wants to know, and in particular, why did Mr. Ingraham leave South Eleuthera at such a disadvantage as Mr. Wilson has lamented in one of his recent discussions with reporters. <br />
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Some have suggested, and this is probably why persons like Mr. Ingraham's former deputy Frank Watson and a few others have been getting antsy and vocal as of late, that Mr. Ingraham is planning a comeback. Stronger than when many feel he usurped power of the FNM from leader elect Tommy Turnquest and put his name in the hat at the FNM's convention leading up to the 2007 general election. <br />
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I can only laugh, especially considering all we know now and all we read in only this submission. Laugh because Mr. Ingraham, Mr. Watson and the others loyal to the Ingrahamite cause, if this is the case, may as well come out as full, card carrying members of the governing PLP. That ought to make this into the full scale spectacle that those and sundry want us to be embroiled in and one that it appears to be. <br />
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One of my colleagues, a very seasoned man and one who was in the mix back in the day and knows both Mr. Christie and Mr. Ingraham very well, assured me that both men speak to each other on a regular basis on governing The Bahamas and that Mr. Ingraham's input is seen and felt every day. I can believe that! **sips tea**Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-45248700626982192222015-05-16T19:43:00.001-04:002015-05-16T19:43:45.150-04:00Terrorism on the shores of The Caribbean!
The Bahamas Ministry of Tourism's website was hacked last week.
Apparently, a group out of Tunisia calling themselves the "Fallaga
Team" is responsible for the attack. They took over the servers that
hosted the websites and posted a few items, as it is reported, and tried to do
much more probing once inside an official government site. <br />
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Just earlier this month the website and subsequent government domain name of
the St. Vincent and the Grenadines was hacked by a group calling themselves
"The Moroccanwolf- Islamic State". <br />
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Both websites were immediately cleaned up as a matter of priority. The
Bahamian government had to end parliament early that day and hold a special
cabinet meeting to address the matter. It goes to show how much
cyber security and electronic information takes precedent in today's
modern world. <br />
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This raises, in an odd sense, the matter of Islamic terrorism in the
region. Who would have thought that Islamic hard-liners would have their
eyes focused on The Bahamas? Or any small, nation state in the Caribbean? Not
me, for one. But apparently they do. <br />
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First and foremost, I reject the radical fundamentalists that parade around
behind their religion to hurt, main and attack other people who do not agree.
The cyber-attack is just another episode in the perversions of some of those
radical Muslims hell bent on starting their One World Caliphate. It won't
happen! <br />
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With respect to the Caribbean: It was widely known that there
were Caribbean nationals that went on the front line to fight with the new
terror group in the Middle East, ISIS, also known as "The Islamic State
and the Levant". A group fighting in the border lands between Syria,
Iraq, Palestine, Lebanon and Jordan, with those five
countries (and a little more if we take into account the island of Cyprus
and a small portion of Western Iraq) comprising what scholars and historians
call "The Levant". <br />
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ISIS is responsible for shocking atrocities in the Middle East. From
beheadings, to public burnings, to tossing those not of their views off of
buildings, and much, much more. Quite a nasty group of individuals. The perverted
nature of their atrocities are quite stunning. It's like they make new ways to
kill, maim and torture people. <br />
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The ISIS PR machine is also strikingly different from any other terror
group. For starters, the videos of their atrocities and barbarism appear to be
very well produced. If you dare to watch anything from them, which I have out
of sheer curiosity, you would see the intense attention to cinematic effect and
detail. Music production, panning in when death is near, various angles for the
method of torture and murder, and quite verbose (and intelligently written)
speeches before and after their sickening acts. <br />
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The top man in ISIS is a British national born in Kuwait. He goes by
the nickname (given to him by those he captured and later evolved into something
more comic-book like by the press), Jihadi John. His real name is Mohammed
Emwazi. <br />
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Now, before you scream "irony" and say that the country where
Jihadi John was born, Kuwait, was the small, Middle Eastern state that was
liberated from Saddam Hussein's Iraq during the first Gulf War by America, in
addition to Jihadi John becoming a British citizen, the second largest
coalition member in both Gulf Wars, let me ask you to tamper down a little bit
of that self-joy and understand the problem it now presents. <br />
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Without a doubt people are radicalized in the Islamic faith. That's patently
obvious. It's also obvious that persons were radicalized into the Islamic faith
from its inception and no one act done by America or the rest of the Western
World made them so.<br />
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Having read The Quran, the Islamic holy book, I would have to say that it's
not primarily a book about peace. To be quite frank about it. <br />
<br /><br />
I would encourage the reader to actually read The Quran for one’s self. Not
that one is any less wrong in being opposed to them based on the violent acts
perpetrated around the world based on Islam. But at least to understand more
fundamentally what really fuels this anti-Western, anti-Christian and anti-anything
opposed to the prophet Muhammad and The Holy Quran. <br />
<br /><br />
I say that because there is this Orwellian "Newspeak" styled euphemism
floating around about Islam being a religion of peace. It's almost as insulting
as calling the military and agency for "Peace and
Reconciliation"; calling America's overhanded, direct, covert and/or
subversive international tactics it uses with its partners "US foreign
policy and diplomacy"; or calling poor people "economically
unintegrated urbanites". Just a patent insult to any right thinking
individual that reads more than 5 chapters of The Quran. <br />
<br /><br />
Well, you can also say that if the Western media has gotten away
with that type of wicked-language for the better half of the last 200
years, then it really is par for the course if modernized Muslims use it and
try to get away with it as well. As they say: Turnabout is fair play. <br />
<br /><br />
What The Quran does speak about with regard to peace particularly, and
primarily, is meant for persons that think along the lines of The
Quran itself. The only other time it mentions being at peace with anyone
else, or any other group of people for that matter, is only when they are
allowing for mercy to the subjected persons within their realm. Of
course, this tolerance has a shelf life and is left to the time and moment that
Sharia (Islamic law based on The Quran) is to be interpreted on the matter of
the offense of the subjected class of people. Even those included in the
Abrahamic, mono-theistic religions of Judaism and Christianity born out of the
same region. <br />
<br /><br />
So, do we have a problem on our hands in the Caribbean? The Tunisian and
Moroccan cyber-terror nitwits are possibly idle teenagers looking to
get their kicks. They are no better or worse than the locals spying on each
other, however. No worse than teenage gamers based in Paris, California or
London trying out their new cyber-worm programme; no worse
than any other notable cyber terror or hacker groups like the PirateBay or
Anonymous; and certainly no worse than America's National Security Agency,
who reports have it have been running several surveillance operations around
the world with regard to cellular phone taps, and done primarily in The Bahamas
under an operation called SOMALGET. <br />
<br /><br />
The main, and more serious problem, is in our immigration policy.
Essentially, who we allow in to our country, and for that matter, who we allow
to return to our respective countries, based on the reports of Caribbean
fighters joining the Jihad and Jihadi John in Syria and the Levant, is vitally
important. <br />
<br /><br />
The second, most fundamental problem, particularly with offshore banking, is
are we allowing for terrorist financing from these operations. <br />
<br /><br />
To that regard, a great deal of cooperation between the G-8 countries and
the offshore banking jurisdictions were done post September 11 attacks. <br />
<br /><br />
Surely no one can solve this Islamic World vs. The Western World problem in
my lifetime, although I would hope that it does get solved. The only thing
small countries like us can do is wait and try to make sure we watch our
borders, and watch what money is transacted from within our borders with
institutions domiciled. That's the only way we can fight terror!<br />
<br />Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-73463411171302194482015-05-10T11:33:00.000-04:002015-05-10T13:10:29.688-04:00You get swing! The lingering matter of fraud!Have you ever given someone that was taking a trip to America or Canada money in hopes that they would "bring back" a few items for you, but they never returned with the items or the money? Particularly for automobiles and consumer related items? Or, have you ever heard of a case where an employee was hired for a particular position, but the benefits, scope of work or work environment was not what was told on the interview? I think we all can say that there is a fair amount of that happening not just in The Bahamas, but throughout the world. <br />
<br />
In The Bahamas we have a saying: You get swing! A song, produced and sung by one of our local artists, Geno D., describes what it means and what it is to get "swing". But, even in his light-hearted approach to the matter, it really is no laughing matter. <br />
<br />
The seemingly national art-form of "swinging" must be condemned, at all costs. But it is something so engrained in our psyche, so inherently and distinctive to Bahamian living, one just simply can't waive a magic wand and say the magic words and Voila!, we all started practicing decency like we are indeed a Christian nation with a strong understanding of giving a fair weight and just balances to those you do business with: Something the prosperity gospel in particular misses out on, as well as the fire and brimstone, holy-rolling brand of Christianity misses as well. <br />
<br />
It has gotten to such an extent that people and companies by extension, can get away with massive fraud and rip-offs, relatively speaking for the size and position of the Bahamian economy, where it has even been noticed by the American Embassy in The Bahamas where they issued a warning to American citizens looking to buy property in The Bahamas. <br />
<br />
Apparently, Americans were coming to The Bahamas to buy land from less than reputable companies, and in many instances buying directly from locals, which of course they were summarily cheated and ripped off. <br />
<iframe width="320" height="266" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/kS8MTSWFjmU/0.jpg" src="https://www.youtube.com/embed/kS8MTSWFjmU?feature=player_embedded" frameborder="0" allowfullscreen></iframe><br />
Some would say that it served them right for trying to buy land through a "hook up", or through a "sweetheart deal", by-passing established real estate companies with a track record and history of doing business fair and transparently. In any case, the image of our piracy, rum-running days, being a nation for sale and the like, is still alive and well and much to our displeasure. <br />
<br />
The amount of corporate fraud that happens in this town probably outweighs the amount of murder cases by 100 fold. The lack of proper record keeping, clean and transparent for the public to identify, is also something that lends to the overall nature of doing business in The Bahamas. <br />
<br />
However, the last released data on white collar crime in The Bahamas was in 2012. Or at least as far back as this author could possibly find without pulling hair out or having to have a special knock, twist in the wind and incantation for the information to magically appear on my desk. <br />
<br />
Reportedly, white collar crime totalled to over $11.5 million dollars in stolen goods, with over 400 cases. There were 111 murders for the year, 2012, just for your information. <br />
<br />
Of course, as we can imagine, white collar crimes were underreported. That's a given. But a significant amount was reported. <br />
<br />
To go even further, the compilation of white collar crimes based on their focus- which seems to boil down to petty theft and petty fraud directed through or towards businesses- is just a small tip of the iceberg. In fact, the limited focus on white collar crime only speaks to one demographic, as if employers and institutions are faultless at committing fraud. This is clearly not the case. <br />
<br />
Just to give some context, corporate crime is a well defined parameter in law. To sum that up, any crime committed by a company or business that promotes itself for one interest but is working against the very same interest it has gone on record stating that they are supposed to be promoting or protecting. <br />
<br />
Essentially, this understanding carries under it a whole host of criminal behaviour, from accounting scandals like what happened with the American energy corporate Enron, where they hid massive losses from their shareholders from various projects; the accounting firm Arthur Anderson, also in America, where the company knowingly shredded and destroyed documents relating to the Enron scandal; and the mining company, Bre-X in Canada, which fraudulently claimed that it had found gold deposits in Indonesia that caused investors to be prompted to buy shares in the company. <br />
<br />
In The Bahamas, one can add to that the overwhelming amount of fraud committed by businesses on the public. Some of them flatly promote products and services knowing full well they do not have the capacity to do what it is they promote. <br />
<br />
In addition to fraudulent promotion or services committed by businesses on the public, there are countless cases of fraud committed by businesses and persons on the state and from persons within the state machinery that also go underreported and are not reflected in the overall white-collar matrix of criminal behaviour. <br />
<br />
Often times cases that happen within the state can easily be brushed aside and made whole again, making crime or the criminal act a "new" (but make no mistake about it being sometimes arbitrary) policy, regardless if the new policy is set in stone or in fact ethical. <br />
<br />
To go even further, and this is the main focus of this submission, is that employer to employee theft and business to business fraud happens far too frequently. <br />
<br />
As a small business owner, the amount of times entities and individuals "tried" to get work done for free is abysmally saddening. It makes one wonder if the same persons wanting freebies from me, would try the same in America, or even against one of the larger institutions or businesses and get things off the top without paying for what it is they requested. <br />
<br />
Countless cases of employees left without pay-checks during the weekend, for work they have done and submitted; cases of employees being dismissed without their proper severance; or just cases of one side not even having the slightest inclination of honouring their side of the agreement, should not be a part of life in The Bahamas as a "regular", run of the mil practice that one can do nothing about.<br />
<br />
This type of anti-social depravity does not happen to that extent anywhere in the civilized and developed world, and it is not something that should be glorified or made light of with seemingly no recourse or remedy to alleviate some of the social implications from such depraved and anti-social behaviour. I would go as far as to say that it borders on a regulated system of indentured servitude, with regulators being non-intervening celestial bodies that make it a practice of non-interventionism in mortal affairs. <br />
<br />
Along with the criminality and unethical behaviour, I find the approach to these matters, no matter how small it is, to be somewhat appalling and very telling for our society. <br />
<br />
What must be done? Certainly there needs to be a review of the agencies and legislation that monitors white-collar crime; fraud; employer malfeasance; and employee fraud as well. <br />
<br />
Asking the government to "tighten up" on some of their own practices seems to be a cheap way of letting off some steam for the anarchist in us, but a call we must make in the spirit and totality of what it is we are faced with. <br />
<br />
Ultimately, you cannot have a vibrant, growing and dynamic economy for all and sundry, if contracts are not being enforced, property rights are infringed upon and disregarded, and fraud seems to be the order of the day. One simply just cannot have that!Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-9453197148069451502015-05-03T10:33:00.000-04:002015-05-03T10:35:06.470-04:00The Bahamas in the future: A look at politics. I felt the need to continue on the trend I haphazardly started with last week with regard to The Bahamas and what the future may look like for the Church in our daily lives. I also prefaced that submission with the understanding that we can't look into the future in a linear fashion: In that, I mean to say is that we can't think about the future and say with any broad stroke that "this" is where The Bahamas would be in general or overall, but rather where we would be and what we would look like on several fronts.<br />
<br />
As said, last week was about the role of the Church. Politics, in this vein, is no different in terms of evolution, even though how it impacts the general population and what it means for the majority of us matters significantly different than that of the Church. <br />
<br />
What's really trending in Bahamian Politics? The short hand is that the major parties are fracturing. Not quite unexpected, because as the population grows, the larger organizations will find it challenging to serve all of the people under their tent. <br />
<br />
This is not to say that the larger parties are unorganized and can't muster up enough coordination to serve all of the people under it's tent, but the fact of the matter is we're dealing with people. People and by extension organizations and the society at large, have hierarchies. Totem Poles. A pecking order. So, often times, gifts and hand-outs start from the top and filter down to the bottom. <br />
<br />
As you can imagine, the people at the top got there because of their selfishness, aggression and to some extent greed. The higher up and more distant they become, the more likelihood of them becoming disengaged from the average citizen. It's easier for a camel to enter into the eye of a needle than for a rich man to enter into the Kingdom of Heaven. <br />
<br />
I'm not excusing the disengagement at all. I find it deplorable, particularly for a still, relatively, small and intimate country like The Bahamas. But, to some extent, the people in charge must look like the people in charge: If that means subjugating, creating distance, and subordinating the so called "lesser-folk", then so be it. If only by the sheer nature of the job. As they say, it's lonely at the top. <br />
<br />
The Bahamas has a unique problem within that matrix: The baby-boomer leadership is deeply conservative with an ever increasingly liberal youth demographic (Generation Y and beyond), mixed in with a frustrated Generation X that feels stifled and cheated because of the baby-boomer generation's staying power and cling to power. For whatever reason. . <br />
<br />
Seriously however, not only the age group differences pose a direct challenge, the baby-boomer generation has had a significant amount of staying power. Something that should be commended, but also be concerning because as they hold on to power, their ideas become stale, their way of thinking about doing business is outdated, in addition to their incestuously uncanny ability to select people of "like mind"; i.e., people within their own age grouping and also persons from younger generations who, even if only, feign interest in whatever programme that comes out of that baby-boomer think-tank. <br />
<br />
Without a doubt there will be a conflict of ideas coming out of the age-group differences as we move forward. As we are seeing more and more intently now, the younger generations have too much information at their finger-tips to be given the same story of the same issues that have not worked. One only has to read Facebook for 30 minutes to find out how much they know, where did they know it from, how it was confirmed and who is being straight up and honest about it. <br />
<br />
What we are currently seeing develop is an era of duplicity in politics. One in which is as seedy as much as it is unpredictable. <br />
<br />
We have often times heard terms used, particularly within the last 10 to 15 years: "PLP's for (insert name of leader of the FNM), or "FMM's for (insert name of the leader of the PLP). In fact, the 2007 election was centred around such duplicitous, cloak and dagger gimmickry that one may liken to a Pink Panther movie, just with real life effects and consequences. The 2012 election was no different either, but less pronounced with more action post election by the then governing party. <br />
<br />
The era of duplicity is also going to be very challenging, due to the fact that the chain that binds the generations has a rusted and shop-worn link: That is the flow of information that Generation Y (Millennials) has at their fingertips right now that the preceding Generation X did not have enough of to make their assessments. We can't overlook that, at all. And as equally important, the knowledge of the tools and templates to use in their assessments. <br />
<br />
Along with the oncoming era of duplicity and one can also say a lack blind loyalty, we also have now a developed culture of distrust, chugging it's fuel from the years and years of obeisance under a "Dark" Bahamas. We have a Generation Y that has a greater chance and opportunity to review the ideas and issues form the past, juxtaposed with current affairs, and how it has shaped us to where we are today. All at the same time, the perceived source of much ire, the baby-boomer generation, is still in control if only psychologically, yet again adding to the frustration and sentiments of being cheated by Generation X while being simultaneously being greeted with disgusted sneers and sarcastic grunts from Generation Y. <br />
<br />
Within the next 25 years, at least, as the baby-boomers are taken to their eternal glory at the very least, we will have a little challenge reconciling the following generations: Generation X will want to reclaim what they feel was stolen from them by the baby-boomer generation, and Generation Y will begin to say that you can't steal from me so easily and so openly as your predecessors did to you. This is going to create conflict. Even though there is a lot for all, the fact of the matter is we can't ever quantify feelings and sentiments: Being cheated and lied to on the one hand, and pervasive false need that borders on extreme avarice on the other. <br />
<br />
All within the same time the political process will become more fractured, distrust will build and build in thee most acrimonious ways. It will take tremendous acts of courage to mend the fences and provide equal opportunity for all. Regardless of where you started from, or where you are now. <br />
<br />
This is not to say all is shot to hell right now as we speak, but I think everyone with an ounce of intelligence can see quite clearly that the policies of 50 years ago have not worked in the last 15 years, at the very least; it's obvious that the proceeding generations' time is being eaten up by a generation, the baby-boomers, that have simply exhausted their usefulness (quite respectfully speaking); the cannibalization and lack of security for the future is based on old ideas that are not working and at best deleterious to the future development of The Bahamas, long after the baby boomers would have finally exited the stage; and the current carry-over of failed concepts of managing country-wide problems is not going over smoothly, and will become more problematic for anyone coming afterwards trying to implement the baby-boomer's methodology of doing things. <br />
The era of distrust and duplicity is upon us. As with all countries, from large empires to small fiefdoms, there have always been successive years of "challenge periods". The Bahamas is right up next to our very own, made worse by the global financial collapse in, 2008 and prior to which was taken strong note of as a result of the September 11 Attacks and what many analyst claim precipitated the attacks which was, essentially, stinking thinking! <br />
<br />
This is not to prophecy of things to be, but a warning of what may happen if we do not summon the courage, intelligence, decency and tact to handle this matter in a judicious manner. But first we must understand the problem. To which I humbly rest my submission on the matter on the table for perusal.Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-67406721446551804342015-04-26T12:41:00.002-04:002015-04-26T12:44:24.287-04:00The Bahamas in the future: A look at the Church!So many times we have people complaining about the now, while often times dismissing the future with regard to the cause and effect years later. What typically happens is that many times fantasizing about the future based on our current behaviour is unforgivably taken for granted, and we seldom take the opportunity to allow things to reduce themselves to their core essence of what may be likely events taking place somewhere down the line. <br />
<br />
I for one can assure you that no one can accurately predict the future, even though on many times I have been right more often than not. Rest assured from my own humble testimony that it's 95% of the time I'm right. So, far be it from me to stand in the way of telling you or anyone the great seer that is I, basking in my glorious rightness and prophetic wisdom, only to be outshone by my radiant halo of knowledge and infinite enlightenment. <br />
<br />
Surely of course I jest, seriously. However, ruminating over the factors that can shape, and are in fact shaping our country, is what many people, particularly in politics, both active participants and their operatives, whether from the base community level or to the pulpit, try to convey to us on a daily basis. <br />
<br />
Thinking about the future and how it would look like in The Bahamas, twenty, thirty, and even fifty years down the line, has to be broken down in several concepts and ideas that all weave into the landscape one may envision. Too lengthy to give justice to one concept, let alone several. Thusly, we will stick with one concept or social construct: The Christian Church. <br />
<br />
One of the most fundamental pillars of our society is the Church. Or as we have been seeing it increasingly being referred to as persons of the faith. <br />
<br />
The Church in The Bahamas has gone through, and is currently going through, several challenging periods, grappling with modernity and coming to grips with the notion that the State, the citizenry and how it all interacts while all are increasingly becoming divergent in their opinions on what is right, fair and just. <br />
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In fact, one only has to look at the phenomenon of smaller, non-denominational churches springing up out of, and in the face of, established faith-based organizations like The Catholic Church, The Anglican Church, which is the State recognized Church of The Bahamas, The Baptist Church and so on and so forth. <br />
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Moreover, members of the "faith" have sought refuge in the solace of smaller, non-denominational sects and what can be titled in a politically correct form as "worship centres", with persons looking for a slightly more intimacy with God their creator as well as sharing in the congregation of other members already dissatisfied and disaffected with the traditional and established organizations. <br />
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This should come as no surprise, because the early Roman Catholic Church had many dissidents and persons having difficulty in appreciating the management and tenor of their overbearing theocratic behaviour.<br />
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For example, Lutheranism broke away from the Roman Catholic Church, as did Calvinism, while both sharing different ideas on faith and worship and remained distinctively different during a period of the late 15th century into the early to middle 16th century and beyond. <br />
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To go even further, the Church of England, also known as the Anglican Church, broke away from the Roman Catholic Church during this period and accepted the teachings of Lutheranism into the English society. <br />
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All of this to say that having understood that the spread of Christian based "worship centres" and enclaves in The Bahamas that allow for separate thought and understanding on Christian principles is nothing new that never happened anywhere else in the world. In fact, it was what the spread of Christianity relied upon. <br />
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No doubt this trend will continue on well into the future, with persons opting for what many would brand as cults, wayward sects and apostate ministries, thankfully without anyone having a care in the world because the culture of the Christian movement within itself has historically been about such evolution and reformation in thought, practice and pattern. <br />
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Where does that leave established Churches in The Bahamas? Well, this continual shift will not leave established church and their organizations any more or less off. Established Churches have not served their usefulness, in fact they are well organized gatherings of persons that need that outward appearances and displays of Christian sanctimony and piety. <br />
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What has been trending is that the "Church", as it is also designed for from it's core, is a collection of people that share similar beliefs and understandings. This too goes both ways. Both ways in the rationalizing of their particular brand of beliefs with regard to faith, but their understandings of the world around them, from their professional life and interactions in politics and government. <br />
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We have to remember that the Church is not primarily a place where persons that share in their beliefs and understanding of faith-based principles, but for persons that gravitate towards others of similar cultural and economic backgrounds, as well as with persons wanting to meet and greet persons of that ilk, calibre and culture in an attempt to reach a different plateau of the social strata that the established Church organizations lend themselves to and represent themselves as. <br />
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Of course the established Church based organizations will not be outdone by smaller, more nimble and spiritually responsive Churches. Of course not!<br />
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They have, in turn, approached this Bahamian-centric Reformation the way they have learned to do it over the years being the only games in town: Controlling thought on what is acceptable doctrine of the Church, albeit from the same established faith-based frames of references that is causing the schism to begin with. Entrenching themselves in their principles, marketing that as their beacon to accept Christ as your Lord and Saviour. <br />
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These opulent displays on Christendom and "who is" faith-based and principled are clever and to some extent effective marketing strategies for their target audience. In fact, you see it every Sunday morning: The who's who, decked in their finest, taking photo-op's with the other "who's who" in a glorious display of the righteous gathering in Christ. How fine indeed. <br />
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Of course, this is not to be tongue in cheek, or gratuitously dismissive of organized religion of the established and conservative mode and model. I too am a fairly recent member of the Anglican Church, having being fully confirmed after years of just attending the worship ceremonies. <br />
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My thoughts rather should not be taken in the context of abject mockery, condemnation or the showmanship of either/or particular branch or sect of the Christian Church. It just simply is what I would term as testament to what I see happening now, and how that may change within the next few years as more and more of these separate organisms, both great and small, play out in the "Church" and by extension the wider population. <br />
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What is important through this all is that one cannot extrapolate any of the characteristics of any of the methods of worship because it is what was meant to happen based on the historical concept of what the Christian Church means, how it developed over the years and how it initially started. <br />
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This is also not to say one cannot find Christ or salvation in any or either over the other, whether it is a small non-denominational, medium sized, offshoot affiliate Churches, satellite Churches or one of the larger organized groupings, what we cannot mistake is the interaction that those opportunities offer and what they represent for us now and for the future. Just that, yet again, this is what it is and will continue during this period of Bahamian-centric Reformation. <br />
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This changing of attitudes and beliefs of Christian thinking also is ushering in differences of fundamental opinions on social behaviour and interaction as much as it is being influenced by it. <br />
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This symbiotic relationship is evidenced in the varying differences in opinion on politics, social living, professional habits, child rearing, parenthood, health and wellness and the like. The divergences is startling and also telling. <br />
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Based on what we see, it would not be difficult to presume that the Church will continue to diverge and separate from one another, both internally and externally. <br />
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These separations will continue to shape average, every day thought on a wide array of areas. Thoughts that would have once be deemed heretic even 30 years ago, but thoughts that are happening and quite clearly challenging the notions of what The Bahamas is and what it may look like, and quite frankly, what it needs to be and look like. <br />
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Needless to smaller enclaves will continue to develop. While in the short term they will not outstrip the larger, more organized Church agencies, they too will have their place. Filled with heretics, dissidents and persons not feeling the rigour of what established Church represents. <br />
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While the larger, more established and organized Churches continue their marketing strategies to attract those looking for the outward displays of Christendom, their too will be a consolidation of classes that will be influenced and look to influence what thoughts shape our nation. <br />
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Confusions will continually abound as all sides will try to consolidate "what's right" in their eyes. Blames will be cast, and aspersions will be enough to share for everyone. But, I must caution you, these blames this will not happen via Church vs. Church, small vs. large, within itself. However, the individual memberships will take what they now know to their places away from their Church, then come back with what they have heard or experienced outside of their Church, only to be then re-affirmed with their "right" of knowledge, or alternatively find difficulties with what they see going on. <br />
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We will continue to see this play out, year after year, decade after decade, until the idea of Christendom, and being faith based, is so totally far and set apart from what we once knew it to be, even here in our own country, but from what it means and represents world-wide. <br />
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This is not to cast doom and gloom, or put one on the edge of one's seat with titillating notions of the glory days that are head of Christendom here in The Bahamas, just to let us know what is to be expected is what is meant to take place. How we take it for the good or the bad is based on how we perceive the stimulus and how it affects our ethos. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-89313535563452218192015-04-18T21:35:00.000-04:002015-04-18T21:41:31.879-04:00The leaks that rocked the nation!I think it's safe to say that the current government of The Commonwealth of The Bahamas has more holes in it than a colander. Never in my short lifespan watching politics and government's come and go in The Bahamas have I seen so many leaked documents and information being thrown out to the voracious media with an insatiable appetite for the scandalous. <br />
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To put it bluntly: The government has a "Deep Throat" in their midst. An informant, or informants, that have direct access to, or can have access to, sensitive files and documents of things the government is currently working on and ones that are very contentious and sensitive in nature. <br />
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No doubt, these leaks have rocked the country. Better yet, the leaks are sinking the government.<br />
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The government is shaken to the very core, to the point where many instances they are immobilized by the stunning nature of what happened, what to do about the leaked information, how to address it, contain it and what should they do with regard to plugging the leak? <br />
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Take for example the "leaked" Public Hospital Authority (PHA) audit back in 2012. The first of the two leaked audit reports on the PHA, with the second one being leaked to the public some time in 2014.<br />
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The leak first appeared on an on-line tabloid for weeks before it hit the national media. The leak indicated several financial and administrative deficiencies that happened over the last several years, the most of which was the lack of proper accounting and record keeping with regard to the medicine stockpile. <br />
<br />
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/SeLQq0LjoUw/0.jpg" frameborder="0" height="266" src="http://www.youtube.com/embed/SeLQq0LjoUw?feature=player_embedded" width="320"></iframe>To this date, no one "knows" who leaked the information, how did it get into the hands of an on-line tabloid, and why did they feel the need to leak an non-vetted document to the press. Most startlingly was that most of the deficiencies were said to have taken place under the last administration, so why was there such a veil of secrecy on issues related to your political opponent? By far the most confusing and puzzling scenario in that entire affair.<br />
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A second leak happened with regard to the management of the Bank of The Bahamas. Issues surrounding the bank and it's financial problems surfaced in the local media, particularly with an established tabloid known for salacious gossip, and was circulating for months before the Governor of The Central Bank began to weigh in on the matter and confirmed what most of the world already knew: The bank was having significant challenges and something must be done. <br />
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A reported "leaker" was first dealt with, put on administrative leave, and then after some investigations took place, was found that it was not the person in question and since then that person went back to their job at the bank. <br />
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Another leak happened with the audit documents and financial position with the National Insurance Board slightly before and directly after the 2012 general election. This was the first in a series of serious and damning bits of information leaked out to the press about the management and financial prudence of a major revenue generating agency in the public sector. <br />
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The leaked information prompted an internal audit of the NIB fund, and as a result ended up with dismissals of key people from their position within the fund. A matter that had lawsuits and the threats of lawsuits thrown into the mix. <br />
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There were several other leaks of a semi-financial nature as well. Most notably was the leaked information of the Value Added Tax Coordinator's tax status with the government. It was found that the main proponent for the implementation of the VAT had not paid his real property taxes in years on two major pieces of property that he either owned outright, or had fiduciary responsibility over. <br />
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There was the leak of the Chairman of the state owned Bahamas Electricity Corporation's electricity bill to the public, with the public having knowledge of his electricity bill right down to the exact amount owed to the date and to the penny. <br />
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There was the leak of the Value Added Tax Draft Bill; the National Health Insurance Draft Bill and report done for the government; the leak of the Letter of Intent for an energy study to be conducted that caused a parliamentary secretary to lose his post after a very lengthy public debate ensued on the matter; and now the leak of the Auditor General's report on the alleged mismanagement of the Urban Renewal Housing programme, a document that had not been vetted by the authorities in charge of the programme, the cabinet minister responsible for the programme or the house of parliament, where the Speaker of The House and the Public Accounts Committee in the House has oversight and jurisdiction. <br />
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What's also odd with these leaks is not the nature of the leaks, but also what was not leaked. Oddly enough, questions surrounding the Bahamas Agricultural and Marine Sciences (BAMSI) contracts and insurance documentation that caused, and still is causing, tremendous scandal for the government have not been leaked to date; neither have the details of the mortgage relief plan not been leaked. <br />
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Both of those non-leaked issues are extremely important to the governance and economic livelihood of Bahamians depending on their success. The persons in the media would have gauged the sentiments of the Bahamian people on both of these matters, but strangely enough, for as highly scrutinized and as much as both of those issues were debated vigorously in the public, we have yet to have anything in the media affirming any claim pro or con. <br />
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Which leads me to suggest that persons in the media have the information and are holding back for whatever reason, or the person leaking the information is tied directly to both issues and leaking it would surely cause problems for them, to say the very least. <br />
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Needless to say: The government has a problem. That means we as the citizenry have a problem. I am not going to gloss over the fact that very few, if any of the people alleged to have leaked information, faced stiff penalties for leaking sensitive government documents to the public for whatever reason. But it's just that most of the leaks, if not all, have a particular theme: The are all financial in nature, which means that there is a strong likelihood of them coming out of the Ministry of Finance, the government agency headed by the prime minister. That's just where that is. <br />
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As in the case of the United States of America, a media in hyper-drive to the point where their insatiable appetite for eye-grabbing headlines and stories seems unquenchable, staying silent on the leaks will not make this situation any better in the long haul. Especially if the relationship with the media, and now social media, becomes more adversarial than it is useful. <br />
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Just to be on the record: I am one in favour of information becoming more free to the public, but not necessarily advocating for a "Freedom of Information Act" to be enacted right now to any large extent. Even though I can appreciate that sooner or later the latter has to happen. <br />
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I think there are a few things the government can do with regard to making more information available to the general public, while simultaneously becoming more transparent, and a little more clearer on the rules of engagement on matters pertaining to the way the country is ran. <br />
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For example, applications for employment, or licensing requests from the government and things of that nature, can be easily made more free, clear and transparent by: 1. Providing each application or requestor with a checklist (the government uses checklists now in some areas) and a proposed timeline for when they are supposed to receive a response from the government; and 2. Using electronic databases for applications and using time-stamps or application/processing way points that are to be updated electronically when positions change with that application or request so folks can see exactly what the status is. <br />
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Another issue, and it can also be put forward for consideration, is that when judgements or decisions are made, the officer that signed off on either the approval or denial should state clearly through a document management system that this is the person that made the decision; this is the judgement or ruling on this particular matter; and this is how we think/feel one should proceed in the future. That would certainly make things more open and transparent where folks can hold their government to account for the decisions they make. <br />
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A document management system can work well for the general public wanting satisfaction, and for public servants that have for years complained about the litany of what they would call "bogus and false" reports on their character, assaults that may hinder them from getting increments and other salary increases and promotions. <br />
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While these recommendations may not stop the leaks outright, they would start the necessary paper trails in official and clearly transparent details which would make leaking information mundane in the grand scheme of things, because more relevant things to the average citizen's lives are free for their perusal. It may also blunt scandal while putting the government at less risk of hiding more and more documents; i.e., the more documents in private, the more paper work you have to manage and keep track of. <br />
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While we have no idea who or what prompted the leaks, the fact of the matter is that we have a leaker. One which needs to be dealt with before something comes out that really should not come out. Not saying that our public officials should hide information, but some things are best kept out of the public domain until they have been thoroughly vetted and chunked down to palatable bits that the Bahamian people can digest and not placed in unnecessary panic mode about something that may not be an avenue the government wishes to travel. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-1855922881407279782015-04-11T20:49:00.001-04:002015-04-11T20:49:47.111-04:00The Walter Scott shooting: Driving while Black?The shooting death of a middle aged Black man, Walter Scott, at the hands of a South Carolina police officer, Michael Slager, after a routine traffic stop for a broken tail light, has yet again added another shocking ripple into the debate about excessive force used by police officers in America. <br />
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This case is particularly stark because it was all caught on film by a young man by the name of Feidin Santana, and showed Mr. Scott apparently running away from the officer and instead of the officer giving chase, he instead emptied 8 bullets into Mr. Scott, killing him within seconds. <br />
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Of course you know that police profiling, police brutality and police shootings of Black men in the United States is a very controversial and dark side of America. One area in which America just seemingly can't turn the corner on the racial divide. <br />
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What was also strange about the video was that it's alleged that officer Slager filed a false police report on the matter, stating that Scott was reaching for his Taser, a struggle ensued and that he had to use deadly force. A report he filed before video evidence of the incident went viral on social media. <br />
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<iframe width="320" height="266" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/aPzfQNu46sM/0.jpg" src="http://www.youtube.com/embed/aPzfQNu46sM?feature=player_embedded" frameborder="0" allowfullscreen></iframe>Upon review of the video, nothing of the sort happened the way officer Slager had stated. In fact, it appears as if the victim had no Taser in his hand, was not in a life and death struggle with officer Slager and appeared to have been running for his life as if it were in imminent danger. <br />
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There is also a second video that emerged as a result of the initial shooting video, this time of dash-cam footage of officer Slager in the initial traffic stop and the subsequent first attempt to flee by Scott. <br />
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Persons close to Mr. Scott claims that Scott feared going back to jail on child support issues, as he had a warrant out for his arrest from his children's mother. <br />
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In addition, the initial viral-murder-video indicates that officer Slager after having shot and killed Scott, went back to the spot where Scott ran from him the second time, picked up something in his hand and dropped it near the body of Scott, which investigators are now alleging to be the Taser officer Slager said in his report that Scott had wrestled from him during the scuffle, a scuffle that did not happen. <br />
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What's surprising is that Mr. Scott was 50 years old and officer Slager was 33. Scott also appeared to be a shop-worn 50 year old with officer Slager as an in-shape 33 year old. The questions must be asked: How much of a struggle could it have been for officer Slager to use deadly force on a man running away from him? Also, why was it so hard for officer Slager to give chase on a man, who appears, to be barely able to get out of the way fast enough for his own life let alone break out into a Usain Bolt-esque 100 meter dash?<br />
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All of this it appears to be "proof" of what persons in the Black community have been saying all along: Police officers are hunting down Black men for sport. And, if it was not as a result of the video by Mr. Santana that incontrovertibly shows a middle aged man running away from a fairly young police officer and being shot in the back 8 times as a result, officer Slager would have been able to plant evidence and get away with filing false reports on what actually happened during that fatal afternoon. <br />
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This recent shooting is on the back of another controversial police shooting in Ferguson Missouri, of a black teenager, Michael Brown back in August of 2014. The shooting and subsequent verdict in the case sent shockwaves through the world, as Ferguson Missouri was torn up as persons rioted and clashed with state and local police in very intense protest stand-offs. Police stand-offs complete with riot squads, the National Guard, mini tanks and military style SUV's and Hummers. <br />
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The Michael Brown incident was not like the Walter Scott incident however. Brown was a teenager (which seems to fit the narrative of police officers killing black teens and statistics will show this quite definitively), the shooting was not caught on film, Brown was a pedestrian walking down the street with a friend of his that testified at the trial of the officer charged with the killing. <br />
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Of course, police advocates claim that there is no distinction with who they profile, stop, arrest or kill. <br />
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To give some obvious evidence of this was the lesser reported case of police using deadly force back in April, 2014 with the shooting death of a White-Hispanic male, Richard Ramirez, also during a routine traffic stop. <br />
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Ramirez was shot while sitting in the back seat of a car. Not known at the time of the shooting was that Ramirez was high on Crystal Meth, and was unable to coherently respond to the officers request, prompting fear from the officer of Ramirez and the other passengers in the car that resulted in Ramirez being fatally shot three times. <br />
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As a result of the Brown case in particular however, which ignited the already smouldering sentiments from within the African-American community about the White establishment's treatment of their race, which also can be traced back to the brutal beating of Rodney King and the subsequent riots that followed the case and with the acquittals of the officers involved, slogans started popping up like "Hands up. Don't Shoot!", "Stop the Police!" and "Black Lives Matter!". <br />
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Yes, Black lives do matter. Having a brother die in police custody in the United States, who was known to have a medical condition and was in the cell for about 6 hours before any medical attention was brought to him after his initial request for treatment, which looking back at it seems very suspicious, Black lives must matter! <br />
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Regardless of the under-supported narrative on police killings and how they claim not to target Black men and Black people in general, in that they are no more profiling Black men as they are just doing regular police work, the fatal statistics are somewhat telling. <br />
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Reported by <a href="http://www.propublica.org/article/deadly-force-in-black-and-white?utm_source=et&utm_medium=email&utm_campaign=dailynewsletter" target="_blank">Propublica.org</a>, young Black men were shown to be 21 times more likely to be killed by a police officer between 2010 and 2012 than Whites. Also more startling was that between 1980 and 2012, there were 41 teens that were 14 years or younger reported to have been killed by police: 27 of them were black; 8 were white; 4 were Hispanic; and 1 was Asian.<br />
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The numbers are startling. While police advocates state that Black on Black crime is the real killer in African-American cities, with the same can be said for Caribbean countries as well and it is a legitimate fact, but it is an inconsequential fact because what we're talking about here is police killings of Black men and not Black on Black crime. <br />
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I, myself, have had my run in with law enforcement in America as well. During my brief two and a half year study period, I was stopped a total of 5 times and booked on two separate occasions. Both for traffic violations. Oddly enough, one stop was for a broken tail light. The other was for speeding, just a "little" over 30 in a Residential area. Seriously, it was just a little!<br />
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With the broken tail light incident, what happened afterwards was startling: It started off with the one initial female police officer that stopped me and asked me to come out of the car, and within 3 minutes I was surrounded by 6 other police officers; two additional squad cars behind me; one to my passenger side with two officers; one head on; one squad car adjacent; and another catawampus, all just apparently stopping in to observe the proceedings. All were White and White-Hispanic. All of this just for a tail light I did not even know was broken, and also with me being five minutes away from home. <br />
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Looking back now and seeing what does take place with Blacks in America, it is not a difficult thing to say that I was extremely lucky. <br />
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Needless to say it ended without an incident that would have garnered national and international attention. The booking officer was so polite afterwards that she helped me to push my car across the street because it has stalled. Yes, even my little Nissan Sentra was shaken into stalling. <br />
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Another "alarming" incident happened on the way back to my dorm room from a party, and it has some relevance to the situation that Walter Scott faced. <br />
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That night an officer rolled up quite silently behind me, turned on his sirens and asked me to pull over. Then, with his blow-horn, asked me to turn off the car engine. I promptly complied. I then proceeded to hop out of the car as if it was "the norm", having being asked to do so on two prior occasions, one in which was the broken tail light incident. <br />
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He then retorted to me with shock and alarm in his voice, and then briskly asked me to get back into the car. After about 2 minutes of him ruffling around in his squad car, he came up to my window and asked me a few questions: Did I know where I was, where was I going, do I have any documentation to prove who I was, etc? I promptly complied, showed him my student identification, where I was coming from and where I was going, and he then said quite calmly to continue on after he ran another check on my status. <br />
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The officer also asked me why did I get out of the car? I told him, quite calmly: "Isn't that the normal procedure?"<br />
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Looking back at that incident now, I felt a little more in danger considering what getting out of the car can represent to a police officer if you are Black and it being in the middle of the night and was not asked to do so.<br />
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Even though I was not ticketed for that stop, what was odd was that the other ticketed offense with the broken tail light happened at night as well, but the procedure was different. Totally different! <br />
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With all that being said, from the unfortunate death of Walter Scott, to the Michael Brown incident, to the Rodney King beating, to the overwhelming crime statistics that show, quite clearly, that while blacks are a mere 13% of America's population they are 21 times more likely to be killed by a police officer than whites, to my own issues while living in America while Black, America has a long way to go with regard to sorting this problem. And it is an "American problem"! Because myself having lived in London for just about the same amount of time as I did in America, I note that I was not stopped or questioned at any time by the police or district constables. Not one time. <br />
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One thing seems to be important to this entire phenomenon however: Running away from the problem only raises the level of seriousness, no pun intended. <br />
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<em><strong><span style="color: red;">***Officer Michael Slager has been fired by the Charleston South Carolina Police Department and is facing murder charges for the killing of Walter Scott.****</span></strong></em>Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-57857445353218060422015-04-05T13:34:00.000-04:002015-04-05T13:36:00.631-04:00Do US presidential elections matter to us? The United States Presidential elections of 2016 is just over 18 months away. Which means it is still a good ways off, but some hopefuls have already come forward and others have expressed keen interest in running for the biggest most important job on the planet outside of being the Catholic Pope, the Chairman of the Republic of China or the European Union Commissioner. <br />
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In The Caribbean this apparently matters a great deal to some, even though to others the claim that it doesn't matter who the president of the USA is, American foreign policy doesn't change a great deal in favour of partnering nations unless there is some new and salient point for mutual assistance on certain matters. I lean more on the side of the latter!<br />
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Allow me to set the table for explaining the reason why I lean more towards a "bleh!" side of things: People in The Caribbean claim that US foreign policy has gotten worse over the last 15 years or so. Some of them may be too young to remember the Cold War period, or just flat out forgot what that meant. That period was a particularly tough time for smaller nation states that may have given the appearance of being Marxist or "left leaning" in their economic and political focus. <br />
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They also may be suffering from information gap to a large extent. Even ten years ago the amount of information from the media outlets and the information super-highway called the internet was not a part of the knowledge bundle. So, key dates, persons and issues were left in blind patches in history that one may have to research a little deeper on the matter, and use what was found in the context of the rational human behavioural patterns and expectations of today in order to make sense of the times back then and the trials of those who were not Western-European or North-American during the Cold War. <br />
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Be that as it may, persons are now stepping forward to become the new president of the USA and ultimately the leader of the "free world". Seems like a misnomer to use the term free world when most of us are being spied on, travel habits and plans altered since the attacks of 9-11 and that countries have clamped down on dissent in favour of more governmental intrusion. Yes, governmental intrusion: It isn't just your country! <br />
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The gauntlet has been thrown down very early in the campaign. Republican Senator from Texas, Ted Cruz, has officially entered the race. He is the only elected member of the US government to come forward formally to announce his direct intentions for the office, in addition to being the most prominent name to come forward thus far. <br />
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The other persons already out of the gate are inconsequential. In fact, they either border on radical outriders or are all out radicals on the ultra looney side of the political process and are loosely affiliated, if at all, with the two major parties in the USA: The Democratic Party and The Republican Party. <br />
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For example, perennial candidate and conspiracy theorist, Jeff Boss entered into the race for the Democratic Party first. Boss is a "9-11 truther", meaning that he believes that the US government was behind the September 11 attacks on the World Trade Centre and Pentagon. Yup! <br />
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But, to be fair, as we have the "truthers" on the Democratic side of the fence, we have the "birthers" on the other, conservative and Republican side. The "birthers" are the ones that believed that US President Obama was not a naturally born citizen of America and hence was ineligible to be president. <br />
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Also on the Republican side of the candidates already out of the gate and sprinting, retired engineer and once a Prohibition Party candidate and also a perennial candidate has put his name in the mix. Yes, The Prohibition Party represents a small group of individuals wanting the alcohol laws repealed all the way back to the 1920's Prohibition era. Good luck with that! <br />
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So, as it stands now, along with Senator Cruz, we have a few other oddballs that make the race interesting. All we need is former New York Gubernatorial and Senatorial candidate in 2010 from The Rent Is Too Damn High Party (yes, this is the official name of the political party), Jimmy McMillan to enter the race and we would have a full fledged early campaign special. But, with all due respect to Mr. McMillan, he received over 40 thousand votes in the 2010 New York Gubernatorial election, and he did not finish hot last either. Just thought you should know that!<br />
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<iframe width="320" height="266" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/dqJ0W4N6nlI/0.jpg" src="http://www.youtube.com/embed/dqJ0W4N6nlI?feature=player_embedded" frameborder="0" allowfullscreen></iframe>Since coming out of the gate however, Senator Cruz has faced major criticisms. The first mover (so to speak) out of the gate always gets the flack. The backlash he received is nothing we should be totally worried about. He is a sitting US Senator, so he is not a nitwit, he is not a dummy and he certainly has some political savvy about him. <br />
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What we never thought would happen to Senator Cruz was that he faced, and still is facing, a lot of pressure from his own political party. Statements from sources like Fox News and online media blog The American Conservative have labelled Senator Cruz as "weak" on foreign policy, and "thin" on legislative achievements. In all fairness, that did not stop president Obama. But it is in keeping with the experience mandate of the conservative right. <br />
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Be that as it may, a strong but understanding foreign policy record is all we in The Caribbean and Latin America really "should" care about. I put the word should in quotations because we may be focusing on the wrong thing for the wrong set of reasons. <br />
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To put it very bluntly: People that have been around the block at least once don't mind or care to any large extent who is elected as the next US president. Unless we have a particular fancy for someone's handling of certain matters (particularly internal economic matters) that we may be able to glean from and incorporate into our own economic policies, it really is welcome to the world, nice to meet you and when do we get the next instalments of freebies from you. Just about! <br />
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America's international trade policy may come into play to a certain degree, but only when certain crops may be affected, which to that extent, when the USA moves in concert with the European Union, there is very little one can do in the face of that. <br />
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However, any move America makes with regard to international trade that may affect certain commodities can be equally offset by America's tremendous generosity towards affected countries. Say what you will of them, America is still, by far, the largest aid and resource donor in the world taking into consideration the entire block of the European Union that accounts for 28 nation states. $32 billion in 2013 in development and resource aid doled out by America to the European Union's $87 billion in that same year as reported by the Organisation for Economic Co-operation and Development (OECD). These figures also do not account for the multitudinous private sector groups, NGO's, civic organizations and faith based groups that have been a hallmark of America's international good-will and generosity. <br />
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Back to the topic, to this author in particular, I have seen just about enough of American foreign policy to know that it does not matter who the president of the USA is. The policy typically remains the same, or just about, with minor alterations for persons who the current administration favours to a significant extent. <br />
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Take for example former president GW Bush's liking for our former prime minister, Hubert A. Ingraham. Former prime minister Ingraham was able to visit Washington to meet with president Bush on two formal occasions, and God knows how many other times he was allowed access to top officials or go-between's in order to achieve whatever it was he was dealing with at the time. <br />
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However, any particular favourability with regard to national objectives in The Bahamas was not really seen. We did not see looser immigration regulations for students and persons wishing to travel to the United States. We did not see the banking laws in The Bahamas change with the tacit approval of the Bush administration, or a fresh wave of openings in our financial services industry. We did not see a sharp rise in tourists under the Bush administration, and neither was the US Embassy here particularly softer on it's tone with regard to crime and other seedy little items that may arise as a result of developing nation tom-foolery. <br />
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On the same token, all of the matters we were concerned with under the Bush administration can be said to remain the same, or just about, under the current Obama administration albeit tourism arrivals have accelerated to a significant level as a result of employment growth in America. <br />
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I don't know what this represents in your neck of the Caribbean, Central American and South American parts of the bushes, but take it as it is. <br />
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To be very candid about this American foreign policy issue, there is not a lot one can do about it. It is what it is as long as they are the Super Power. There is even less we can do about American domestic economic policy as well, when primarily this affects us just as much and to some extent more than American foreign policy directed towards our grouping. <br />
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So, with regard to the other potential candidates and hopefuls looking to take the reins of the world's toughest job, to me and many others it's just the same person with just a different tone of voice. <br />
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Whether it is the presumptive female candidate Hillary Clinton for the Democrats, or her internal Democratic Party rival and female Senator Elizabeth Warren (apparently president Obama's top choice to succeed him). Or, on the Republican side with the brother of the last Republican president, GW Bush in that of former Florida Governor Jeb Bush, or another presumptive front runner, retired neurologist and an African American Republican hopeful, Dr. Ben Carson, for me it's all a matter of who's next. <br />
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Our main focus should be watching now and waiting then to watch more about what America does internally with regard to it's economy. That itself is something we can do and guard against with regard to buffering our respective economies from shocks as they will emanate from our big brother to the North. <br />
<br />Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-70304175577007362082015-03-28T18:21:00.000-04:002015-03-28T18:21:20.989-04:00The IMF came to town, and then they left!The International Monetary Fund (IMF) team visited The Bahamas from March 9–20 to conduct discussions for the 2015 Article IV consultations. Their press release stated several key factors about the current state of The Bahamian economy. Perfunctory duties. <br />
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Organizations like the IMF have a duty to compile data and information on the economies of all countries, particularly the financial positions of economies. Their main role is part advisory and part public relations with respect to reporting on activities of one country to their partnering countries. With that being said, it is not unusual for staff reports and consultation reports to be as diplomatic as possible, because negative reports not only affect the country being examined, but the countries that do business with the country under examination. <br />
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What is important to state after reading this latest consultation article is that it appeared to be very modest in it's approach, which may seem as if it is couched in diplomatic code, but it said nothing new or provided no special insight into key methods or tools used to bolster any claim made in their assessment. <br />
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We would have thought that after all of this time, some more fruit would have been born out by these consultative meetings and assessments. For the mere fact that there are experienced persons sent to conduct them, I'm certain that more information and in detail could have been shared if only on an experienced based factor. <br />
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Of course, no one wants to make things up that are not there. So we can only take the reports in the broad strokes they are presented in. Also, coupled with the fact that they can only make assessments on the information provided, we can only suggest that this is what it is and what is said to be getting done is in fact getting done. <br />
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Take for example an excerpt of the first notable, if not the obligatory and most repetitive note of these assessments is with regard to structural unemployment and support for SME's: <br />
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<em>“The Bahamas faces several challenges in boosting its growth potential. First, it needs to attract sufficient tourist demand to fill the large impending increase in capacity. Second, evidence of significant structural unemployment suggests the existence of impediments to job creation and proper functioning of the labor market. Third, small- and medium-sized enterprises (SMEs) face significant impediments to the growth. Fourth, as noted by the 2015 World Bank Doing Business Indicators, general constraints to investment persist"</em> </blockquote>
Of course, it sounds very sexy, alluring and provocative to suggest these things. But what is strikingly missing, and we hope is born out through another more in depth assessment note, is with regard to the policies being implemented to address these issues and how far is the government with regard to the reforms to address the issues. <br />
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The point of the matter is these open ended, blanket and glittering generalities on topics that they are on the one hand supposed to have in depth technical expertise on assessing, but furthermore are supposed to know the mechanics of the way an economy is supposed to work, both large and small is just not cutting it at this stage of the game. <br />
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To provide a solution to the SME and unemployment issues The Bahamas faces, the IMF suggested that: <br />
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“...the mission urges the authorities to finalize and implement the National Development Plan (NDP), with assistance from the IDB. The NDP would assess the country’s macroeconomic performance, institutions and governance, and propose strategies to accelerate economic, institutional, and social development over the medium term and long run. "</blockquote>
In entertainment terms we would classify this as canned applause. This reverse inductive reasoning from a pre-prepared premise that this would be the solution to the problem of SME underdevelopment and unemployment is a little too thin, for two main reasons. <br />
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The first reason is that a plan, within itself, does not solve a problem. What the National Development Plan would address is the initial phase of providing information on the macro-economic potential of The Bahamas, providing that this is in fact the tone and direction that the plan is following. <br />
<br />
Thus far we have not heard much about the data and information being collected, collated and analysed that would solve any issue, let alone the structural deficiencies with SME development and unemployment that the IMF assessment report states would be as a result of the finalization of the plan. <br />
<br />
Furthermore, the plan needs to be implemented. The execution template, format and personnel need to be in place. So, even before we have the plan completed, we have to have a notion that the plan will, in fact, solve the deficiencies as represented; the plan will have executable initiatives for the deficiencies; and be in fact implemented in an orderly and sustainable manner. <br />
<br />
<div>
Another seemingly modest approach with regard to detailing the economy of The Bahamas presented in the IMF assessment is in their attempt to make note of the fiscal consolidation efforts underway: </div>
<div>
</div>
<blockquote class="tr_bq">
<span></span>"Commendably, the authorities continue to be on track in implementing their strong fiscal consolidation program to rebuild fiscal buffers eroded in the aftermath of the global crisis and reverse recent significant increases in public debt. The fiscal deficit in FY 2013/14 (July to June) is estimated to have narrowed to 3.3 percent of GDP (from 5.4 percent). The mission commends the authorities for the introduction of a broad-based VAT on January 1, 2015."</blockquote>
<br />
What's important to note that while the macro-statistics speak to one particular scenario, equally as important is the methods to which these goals are achieved and if they line up with recent information as presented. <br />
<br />
For example, the estimates on the fiscal deficit as estimated are inconsistent with the trajectory of the deficit presented in the mid-term budget and the current economic factors on the ground. <br />
<br />
The deficit, as stated in the mid term budget presented in February, 2015 actually increased over the period from the last mid-term budget. The GFS deficit for the mid-term budget presented in February, 2014 was $238 million. The current GFS deficit for the fiscal mid-budget year, 2015 is $273 million. An increase of $35 million. <br />
<br />
The reason why highlighting the current estimate provided via the mid-term budget as opposed to using a methodology of using the revised final budget estimates of 2013/2014 and the projected final estimates of 2014/2015, is that one major issue is at play: The opening of the BahaMar Resort. <br />
<br />
The BahaMar Resort, when fully opened, will comprise of approximately 30 to 40% of room capacity in our hotel inventory. Without BahaMar being opened, it means that tourism receipts will be weak. With tourism accounting for 60% of gross domestic product, it means that anywhere from 20 to 25% of government revenue will have to be adjusted to account for the budget shortfall as a result. <br />
<br />
The BahaMar Resort was scheduled to open on March, 27th, 2015. But that has been delayed to May 1st, 2015 with the expectation that it may not be a full opening for the month of May. <br />
<br />
Of course, the IMF mission would have been concluded before the announcement that the opening of BahaMar was delayed. But for them neglecting the possibility that it may be delayed and that the delay may cause significant shortfall is something we should note, very clearly. <br />
<br />
Just as important as making provisions for economic activity on the ground to bolster the macro-statistics, the actual method of the fiscal consolidation is also important. <br />
<br />
On the one hand, the IMF praises the government with regard to stacking up fiscal buffers. In other terms, stacking up the money in the event of a fiscal collapse brought on as a result of the economic meltdown of 2008. Which means, in short terms, the government has increased their savings efforts for a rainy day. <br />
<br />
However, this was not reconciled with the glaring fact that the deficit increased from last year, as previously indicated. So, on the one hand, the IMF says that the deficit decreased and is set to further decrease (not) on the one hand through their projected estimates, but on the other we have made strides in our fiscal consolidation efforts by Suring up fiscal buffers. Something just does not compute. <br />
<br />
In addition, how this was done, where the money/savings are stashed and the used methods and if methods used were optimal simply just advances the chains down the field, so to speak. I think most of the Bahamian public are way beyond accepting information based on say-so without measurable verification. <br />
<br />
The report goes on to reiterate the same lines from previous conventional wisdoms; i.e., end state owned enterprises, and be mindful of foreign reserve buffers, etc. We can forgo further analysis based on that. <br />
<br />
In short, I'm not saying that I like this latest IMF assessment or that I don't like it, but they need to flesh out a few more realistic details with regard to the entire Bahamian economic picture. Doing so helps us all. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-27525724196213716512015-03-22T09:28:00.000-04:002015-03-22T09:30:55.402-04:00Are lower oil prices causing chaos? A Latin-American and Caribbean perspective. As most of us already know, oil prices have fallen from their triple digit highs to now just about $50 a barrel. Of course, this is great news for most of us. But for other people that depend on high oil prices for profit, not so good news. <br />
<br />
It's not just that oil prices slowly fell over the course of 2 or 3 years, but they fell so sharply and suddenly within the last year, oil producing countries were hit with a blind-sided shot that they were not prepared for. <br />
<br />
As you can imagine, governments were in a scramble. Not just a scramble to make up the short fall, but as oil prices fell, budgets were slashed and that would spell panic for many oil exporting countries. <br />
<br />
Nothing spelled panic as it did with the recent protests in Brazil over the last week.<br />
<br />
Scores of persons in Brazil gathered in major cities in protest of the government. Over 1.5 million people gathered in the national stadium in protest and the numbers are expected to grow. <br />
<br />
The protestors have asked for President Dilma Rousseff to resign immediately amidst a corruption scandal coming out of the state run oil company, Petrobras. This isn't the first major protest Brazil had experienced, and most recently was the protests prior to the World Cup 2014- cries of wasteful spending, lack of spending on the poor and wide spread theft were the most serious allegations about the process. <br />
<br />
<iframe width="320" height="266" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/PIbu1tTcm3I/0.jpg" src="http://www.youtube.com/embed/PIbu1tTcm3I?feature=player_embedded" frameborder="0" allowfullscreen></iframe>This Petrobras scandal, however, has rocked the country, leaving people wondering about the state of the country's finances and the fragility of the political peace as the scandal from Petrobras has hit a nerve amidst lower oil prices. <br />
<br />
Of course, this author knew that social instability in oil producing and oil export dependent countries would happen as a result of lower oil prices. For the mere fact for what we mentioned earlier that budgets were slashed and spending programmes cut or just simply cut out. <br />
<br />
When countries budgeted for a certain price for oil, in the case of Brazil, over $100 dollars a barrel for oil, and then oil prices plummeted to under $50 dollars, you can imagine the public accounting nightmare and the financial collapse that would ensue- money would not be spent on social projects, capital infrastructure projects, people start to watch the pennies a little more closely and then issues such as wastage- which would have been moderately acceptable at $100 per barrel- simply would not be tolerated and excesses, regardless of how long it's been going on, will be scrutinized and blames will be bandied about. <br />
<br />
Thus is the case in Brazil, every penny is now being watched very, very closely and people have little to no tolerance for wastage. <br />
<br />
Venezuela is going through similar challenges as well. In fact, there were thwarted attempts to oust the current Venezuelan president, <span id="dscexpitem_1568347466_1">Nicolás Maduro Moros. Thwarted attempts for the time being. Venezuela in particular had a break-even point of $115 dollars per barrel. </span><br />
<br />
Since the plummet of oil prices and calls for his resignation for his inability to handle the oil crisis, president Maduro has accused several key people of plotting to overthrow his government, including a former general in the army and several key opposition supporters. <br />
<br />
President Maduro has, for the moment, staved off the coups and has tried to do things to inject pure hard cash into the Venezuelan economy, most importantly of which is securing a $5 billion loan from China, to heap on top of the already $50 billion loaned to Venezuela from China since, 2007. <br />
<br />
Of course, borrowing money and being more in debt to China comes with it's own problems. The most of which is the neighbour to the North, the USA. While they too have been in debt to China to the tune of trillions of dollars, it doesn't mean that they want Chinese involvement in Latin America and the Caribbean to the point where those nations are no longer counted on as American allies in America's own backyard. <br />
<br />
What's also more important to note is that during the Cold War, a period of time and instability where most developing nations have not fully recuperated from its ravages, particularly if the public tide leaned heavily to the left of centre of the political landscape, president Maduro is not fully out of the clear yet. Particularly where, to be totally honest with you, all eventualities should have been covered, and especially scenarios planned for in the event of a collapse in the oil market. As a side note, it is as if we have not learned from the financial and economic crisis of 2008 in that any and every thing can and will happen. Any and every thing!<br />
<br />
Take on the other hand what Trinidad has done as a result of falling oil prices. Trinidad has set out to cut its $10.2 billion budget for this year. Trinidad is reportedly the sixth largest exporter for oil in the world. <br />
<br />
What also happened after oil prices started to fall, and probably not correlated but worth mentioning in any event, is that president of Trinidad and Tobago, Kamla Persad Bissessar, dealt very harshly and resolutely with a scandal that rocked the core of her government. <br />
<br />
Within the space of a month, president Bissessar sacked 6 of her cabinet ministers amidst a witness tampering scandal. Ministers as high up as the Attorney General and her Minister of National security were all given pink slips. It was so bad that I often joke that president Bissessar fired herself, as she gave up her own ministerial post as Minister of the Ministry of the People and Social Development.<br />
<br />
Of course elections in Trinidad are in 2015, this year. Of course. President Bissessar did the right thing, and that was try to make the best out of a very bad situation. What comes out of this is how the people read into it, which if you are a good political strategist you can play it both ways.<br />
<br />
Whatever comes as a result, with less money to play around with, with a scandal that has rocked Trinidad, for president Bissessar dealing with it resolutely, which may mean fracturing her own party, in addition to the optics of her stepping down as a cabinet minister herself, particularly the ministry of the people, election time in Trinidad is shaping up to be a very, very curious one indeed. <br />
<br />
This oil price issue has hit hard, and the ripples are still being felt. No doubt this is not the end of it. But, lucky for us, we are on this side of the world. The Western Hemisphere. If this were Africa and the Middle East, things would not be so cool, to put it mildly. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-27579378194939574172015-03-17T08:47:00.000-04:002015-03-17T08:47:00.746-04:00Coup d'état possible in Brazil?Well, as of yesterday, scores of persons in Brazil gathered in major cities in protest of the government. Over 1.5 million people gathered in the national stadium in protest and the numbers are expected to grow. <br />
<br />
The protestors have asked for President Dilma Rousseff to resign immediately amidst a corruption scandal coming out of the state run oil company, Petrobras. This isn't the first major protest Brazil had experiences, and most recently was the protests prior to the World Cup 2014- cries of wasteful spending, lack of spending on the poor and wide spread theft were the most serious allegations about the process. <br />
<br />
This Petrobras scandal, however, has rocked the country, leaving people wondering about the state of the country's finances and the fragility of the political peace as the scandal from Petrobras has hit a nerve amidst lower oil prices. <br />
<br />
Of course, this author sorta know that social instability in oil producing and oil export dependent countries would happen. <br />
<br />
When countries budgeted for a certain price for oil, in the case of Brazil, over $100 dollars a barrel for oil, and then oil prices plummeted to under $50 dollars, you can imagine the public accounting nightmare and the financial collapse that would ensue- money would not be spent on social projects, capital infrastructure projects, people start to watch the pennies a little more closely and then issues such as wastage- which would have been moderately acceptable at $100 per barrel- simply would not be tolerated and excesses, regardless of how long it's been going on, will be scrutinized and blames will be bandied about. <br />
<br />
Venezuela is going through similar challenges as well. In fact, there were thwarted attempts to oust the current Venezuelan president, <span id="dscexpitem_1568347466_1">Nicolás Maduro Moros. Venezuela in particular had a break-even point of $115 dollars per barrel. </span><br />
<span></span><br />
<span>With all that being said, the social instability will continue. Watch out for Middle Eastern countries and other countries that produce oil. </span><br />
Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-9098857293294008232015-03-15T08:29:00.001-04:002015-03-15T08:48:21.930-04:00No silence on gang violence. Guns, drugs and murder, these things in The Bahamas used to be unheard of. But this is real life, filled with the anger and discontent of the blighted and adds to the economic and social strife. How have we gotten here? If someone told you the real truth would you want to hear? Probably not. So, real solutions to fixing this problem is put out of thought, and the people in the fight will continually fight this fight for all things naught. <br />
<br />
But, how we got here is what you need to hear. Don't fear what you truly need to hear, because it's that knowledge which gives you the courage amidst the violence and threats of violence in the air. <br />
<br />
Fact of the matter is, and to figure it out doesn't take a whizz, that The Bahamas doesn't make guns, the big ones and not even the small ones. We produce not one gram of cocaine, so the thought of us being a major trafficker leaves me perplexed to the point where you may think I'm insane. <br />
<br />
It just doesn't seem right, that such a voracious narcotics appetite, from the folks up North and to the North-West, will do anything for that lady in white even though our law enforcement does their best to make any and every drug arrest. <br />
<br />
The drug culture of the 80's was nothing to play with, communities rocked to the core with persons high off of their drug of choice you could not live one day with. <br />
<br />
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/uyhdccK4Dds/0.jpg" frameborder="0" height="266" src="http://www.youtube.com/embed/uyhdccK4Dds?feature=player_embedded" style="clear: left; float: left;" width="320"></iframe>As with illicit activities, thus came the need to protect the strongholds in the inner cities. Inner cities became drug wastelands with barons roaming with pistols in their waistband, along with corrupt officials on the take, the lords of the street were looking to make their next victim freezer meat while one family sings hymns at their loved one's wake, the "Don-Dadda's" had just one offer to make: Take this, or die from this. <br />
<br />
These offers no one dared to refuse, if one did they may have been found with the refuse. In broad-daylight they made you disappear out of sight, or while you snoozed they came for you in the late night. No stage fright, just show up at your front door to put another down for the final snore, good night. <br />
<br />
What all of this has done has allowed many folks believe we really won't win this one. These people aren't on our run, and walking the streets like you used to just isn't fun. It's dangerous, really. Do you feel me? I'm not being silly, childish, scary or flippant, really. <br />
<br />
Now as the drugs are said to be coming under control, or so some wants us to think, the gang boys are still on patrol, and with one false move you can be snuffed out in a blink. <br />
<br />
They say that average folks need not worry, because as the bullets fly by in their flurry, it's the other gang boys that those gang boys want and not you, so do your do, live your life, go out and enjoy the town with your family members, husband or wife. <br />
<br />
However, it's safe, until someone gets the wrong house, and obliterates everything in sight including the wall mouse. It's ok, they say, until the bullets start to rain on a mother in her bed, bullets that have no discretion, whether it hits her arms, chest, legs or head. <br />
<br />
No, it's not ok! It's just not ok...Ok? Because now we have a gang culture, with young men and women under the impression that this new family is their lifeblood, this new culture, but really these new family members are nothing but vultures. For anyone that tells you "hang with us", and leave school, must really think you are a bloody fool. While you, the new fool, leave school to protect their interests, rest assured one day they will see you as their witness. Get it? You can bet on it. <br />
<br />
So instead of producing that new scholar, we have lost ones looking to protect someone else's dollar, with their A.K. as their a.k.a, forget the abc's, please, they want to make their competition d.o.a.. Yes, they will kill this city. That's right, we will feel the pity. <br />
<br />
As the bodies pile, and the morgue puts another one on file, while we cower, the folks in power, really do understand but they have no solution for this mess on hand. If there was an easy solution, we would be using it by now and we would not feel the disillusion. If we had any short or long term solution, we would be shouting it too and fro, we would see the results and the entire world would know, from Beijing to Houston. <br />
<br />
The problem just can't be solved simply, you see, and with this other concurrent dynamic, I want you to really understand me: Those same crack 80's, the 80's that we were reported to only traffic drugs to the USA (yay! we only trafficked drugs to the USA), we created crack men and ladies of our own and those ladies produced crack babies. Those same crack babies also had babies. <br />
<br />
These crack babies grew up on their own, with no mother or father at home, they had to fend for themselves until they became grown, and had to live life alone where love and attention was never truly known. <br />
<br />
They know it, and they hate it, and their actions show it, and we fail to appreciate it, but we need to debate it. <br />
<br />
While the crack babies' baby may not use crack, maybe, they are born addicted, hungry and afflicted. They are socially, mentally and physically maladjusted, not in their right mind, from the onset of birth, for what it's truly worth, one would have to wonder if they should truly be trusted? Of course you should feel disgusted. Of course, trust my source. <br />
<br />
It may seem harsh, but when we see the amount of drug use involved in today's violent crime, what seems very harsh is the best description of the time. A time that may be repeating itself, but on a smaller scale, a time that's telling itself, and a time where the evidence in our social constructs and safety nets have quite clearly shown us a fail. <br />
<br />
Who's truly to blame: Is it you, me, you over there, you right here, him or her? It seems like a blur. To some, but not me my learned one. <br />
<br />
We should not be blaming anyone anyway, because when the accusations start to fly, the seriousness of the theatre that's these streets and the lives of our youth you see as you drive by, becomes the stage of one very sad play, all day, every day.<br />
<br />
The big kids these days clearly aren't playing, and they don't care for anything the hypocrite in a suit appears to be saying. It's a real fight to get our young people back on track, and in the right frame of mind, we have to get it right or else this country will be put flat on it's back, we are very seriously running out of time. <br />
<br />
This crime, drugs and gang problem already has us on our knees, with The Bahamas being now labelled as a conflict zone, and the US Embassy warning visitors that The Bahamas is a perpetual warzone, the fact is that what's done is done and there is nothing about it that can now be washed out in the spin zone, and in the vernacular: "It don't care who please!"Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-37041368417912437352015-03-08T21:13:00.000-04:002015-03-08T21:31:28.323-04:00Exchange controls and the Bahamian dollar- Revisited. Since writing on the usefulness of exchange controls and through that, the virtue of keeping exchange controls and keeping the Bahamian dollar pegged to the US dollar, I had a chance to have a few private conversations, and open conversations on live radio, form persons that found that submission both fruitful on one side, and just all out dreadful on the other. Par for the course, but at least folks are talking about it in a more serious tone and not just willing to accept any position either way just because someone said so. <br />
<br />
But what can we build on to advance the conversation on this complex matter of exchange controls and keeping the Bahamian dollar pegged to the US dollar? <br />
<br />
There was an article in one of the local dailies here in The Bahamas, quoting former Central Bank Governor and former Minister of State for Finance, James Smith, stating that there is no compelling reason to do away with exchange controls. <br />
<br />
His reasons were basically rooted in the tone of argument of it isn't broken, then why try to fix it? And also on the false argument of "stability", neglecting and rejecting out of hand any possible idea of rationale on the matter, particularly to the regard that the very same stability hinges on a flexible monetary policy that speaks to greater economic growth and economic expansion. <br />
<br />
I would give examples on both ends: For one, the very last time the Central Bank had a rate cut back in the early 00's, the banks became awash with money and were more lenient with handing out consumer loans for not just businesses, but for education and mortgages. Many persons were recipients of those market driven loans. <br />
<br />
On the other end, and for an example of how an inflexible monetary regime, particularly with regard to stringent exchange controls that are tied too tightly to foreign reserve strength, was with regard to an issue with Cable Bahamas Ltd.. Just to jog your memory a little, Cable Bahamas Ltd. was seeking to transfer a large sum of money out of The Bahamas for an investment in Florida. An investment they eventually became very successful at. <br />
<br />
However, their initial investment process was hampered due to the lack of timely Central Bank approval for such a large sum of money because of the drain it would have presented on foreign reserves: Essentially sucking a lot of money out of the reserve system, because the money would have had to have been changed to US dollars and hence the delay. <br />
<br />
As you can imagine with the latter case, time is money. With the former, nothing should come in the way of Bahamians achieving their dreams and pursuits with a banking system that is bolstered by a flexible monetary regime that is progressive in nature. <br />
<br />
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I still maintain the notion that the usefulness of the stringent exchange controls and this wild obsession with keeping the Bahamian dollar pegged to the US dollar- while two totally separate issues, but issues that overlap to a large extent- is something that should not be held as absolutely sacrosanct and beyond scrutiny or acceptance. <br />
<br />
Of course, one of the other arguments offered for not discussing the issue of monetary policy amendments was that there are more "pressing" matters that the government should attend to, most notably the large fiscal fire that is raging as a result of bad policy making over successive administrations. But I'm quite certain that we have enough people on hand that can chew gum and walk the same time. <br />
<br />
What's also striking now that this part of the ongoing economic debate has sprung up, albeit from within the phantasmagorical political theatre, is that Mr. Smith's colleague, former Central Bank Governor and also a former Minister of State for Finance under the Free National Movement government, Sir. William Allen, has gone on record as being "receptive" to the idea of easing away from exchange controls and shifting away, even if slightly, from the US peg. We agree with Sir. Allen. <br />
<br />
We are under the assumption that Sir. Allen's position still stands, until otherwise stated by him with some exposition to his rationale, both for when he had those ideas and to what it is now as the case may be. <br />
<br />
One particular fear raised is the issue with regard to removing, or easing, exchange controls would lead to a depreciation of The Bahamian dollar and that it would lead to higher living expenses for wage earners. <br />
<br />
Some of this is partly true, but only to a certain extent. For starters, this would only happen if wages remain stagnant due to lack of money supply and the simultaneous banning of US dollars in circulation in the economy. As we all know, Bahamian dollars are spent equally with US dollars. Removing the exchange controls and unpegging would not mean, or should not mean unless otherwise directed through policy, that US dollars would be banned form circulation in The Bahamas. <br />
<br />
The second issue is that a depreciation of the Bahamian dollar does not exclusively have to do with regard to removing exchange controls, or an easing up off of exchange controls to allow greater liberalisation. For example, <a href="http://www.caribbeannewsnow.com/headline-Commentary%3A-Exchange-controls-and-the-Bahamian-dollar-%28with-audio%29-24993.html" target="_blank">as we went to great detail to explain in the previous submission on exchange controls and the Bahamian dollar</a>, if based on the balance of payments, the Bahamian dollar is already undervalued per dollar for dollar against the US dollar because we don't add services into the balance of payments methodology. <br />
<br />
If we were to use the revised methodology, which adds services like tourism and financial services, the demand of the Bahamian dollar internally would appreciate if rated against the US dollar country for country. Theoretically that is. <br />
<br />
Some would want to bring in the argument purchasing power parity as a way to explain this away, for what reason I am not quite clear?<br />
<br />
Purchasing power parity simply only explains the relative prices of the same goods produced by both countries. Of course, one can see the pitfalls with regard to this, especially when it's very difficult to equate two countries, let alone all countries, on the merit of a similar good produced by said countries, even though journals like The Economist has tried with regard to their <a href="http://www.economist.com/content/big-mac-index" target="_blank">Big Mac Index</a>. <br />
<br />
For example, apples are produced and processed in the USA, but not in The Bahamas while dillies (naseberries, for my Jamaican friends) are produced and processed in The Bahamas. <br />
<br />
Another issue with regard to using purchasing power parity as an excuse for keeping exchange controls is that it does not speak to the relative quality of said good and inputs it takes to produce a good even if it is made in two separate countries. <br />
<br />
Not to belabour the point, but using purchasing power parity with regard to monetary policy becomes problematic and unhelpful when the overall goal should be raising the overall quality of life should be the primary focus. <br />
<br />
My submission is that while understanding the financial mess created, I am of the opinion that not having broader discussions on how monetary policy can help this situation, from all out unpegging to crawling peg rates, would be just as disastrous as not doing anything at all. Especially when faced with the economic crisis of 2008 and how sluggish economies have been that have not tried more active monetary policies as a response to the crisis. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com1tag:blogger.com,1999:blog-5156847075660851627.post-59906837500118176982015-02-28T13:11:00.001-05:002015-02-28T13:22:21.580-05:00CARICOM: We've got company!Well, in case you didn't already know, the leaders of the
CARICOM nation states held their 26th Inter-Sessional meeting
here in Nassau, Bahamas for two days starting on Thursday, February
26th. <o:p></o:p><br />
<br />
The Bahamas chairs the CARICOM grouping, with prime minister
The Right Honourable Perry G. Christie as the chair. The outgoing chair,
and current prime minister of Antigua and Barbuda, Gaston Browne, was on hand
to hand over the reins (no pun intended) to the current. <o:p></o:p><br />
<br />
Of course, these meetings are incredibly boring. As boring as watching paint
dry, or watching a rock race. In fact, if you were to speak to any of the
participants in this year's events, or participants from events prior, they would most
likely tell you that aside from it being a chance to "get out of the
house", so to speak, they would pass on these meetings just out of the sheer
boredom of it all. But, these
meetings are very necessary and vital to bridging the gaps of understanding
between CARICOM nation states. <o:p></o:p><br />
<br />
Fact of the matter is that through these meetings, Caribbean leaders have
very little other opportunity to meet and greet one another through their busy
schedule. While the events are boring, they must lead to impactful and fruitful dialogue
about the problems that ails individual states and the region at large. <br />
<br />
Also,
the main discussions at these meetings are not the formal meetings for
show-and-tell, but the back-room discussions and sub-committee’s between the
leaders and their aides. <o:p></o:p><br />
<br />
One of the first statements out of these meetings came from former CARICOM Chair Browne as he expressed solidarity with Venezuela amidst reports that a coup is looming. We hope too that the stability of Venezuela remains an important item on the Western Hemisphere's agenda, and not just with CARICOM. <o:p></o:p><br />
<br />
Of course, the issue in Venezuela is more complex than
the rumblings of a coup just for having a coup's sake. For starters, the
president, Nicolás Maduro, former vice president under former president Hugo
Chavez (deceased) was a former trade unionist of the ultra-left-wing kind. It's
no secret that he is also a little "aggressive" with regard to
internal politics, and is more of a Bolivarian idealist than his predecessor. <o:p></o:p><br />
<br />
Furthermore, Venezuela is having challenges economically. Quite clearly with
regard to low oil prices that has affected not just budgetary allocations
currently, but also will affect the next fiscal year's budget and more than
likely social spending programs will be either slashed in half, all out cut or
just knowingly and wilfully underfunded. <o:p></o:p><br />
<br />
As said on a previous article on oil prices falling, <a href="http://www.thebahamasweekly.com/publish/columns/Youri_Kemp_The_oil_is_falling_the_oil_is_falling39450.shtml" target="_blank"><span style="color: blue;">Venezuela is well below it's break-even point</span></a>, and talks of
social disruption, rumours of coups, or calls internally for the Venezuelan
government to step down or at least shuffle their leadership, should be
expected. Not just in Venezuela, but every single oil producing country that is
feeling the sharp decreases on oil prices. May they all go with God!<o:p></o:p><br />
<br />
A second item, as we gleaned from the end summary by the current CARICOM
Chair Christie, was this issue of Marijuana decriminalization. Yes, the
dutchie. Tu-Sheng Peng. Ganja. Weed. Herb. The "healings". <o:p></o:p><br />
<br />
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Without question the moves in the United States of America on the
decriminalization and subsequent legalization of marijuana has prompted anyone
with a brain cell left in their head from all of that inhaling to think about
the issues as it relates to ending the prohibition on cannabis internally.
<o:p></o:p><br />
<br />
We hope that the move towards ending the prohibition in the Caribbean is met
with all seriousness, and the criminal records of the young, and not so
young, are not only expunged but these people are culturally integrated and if
need be, compensated, for this clearly damaging policy inflicted upon them. A
policy that has consumed most of their productive lives. Consumed all for a few
ounces of weed. Not for international trafficking, not for mass local
distribution, but just because a 17 or 18 year old decided that he was going to
experiment like most 17 and 18 year olds do! <o:p></o:p><br />
<br />
While I am not a fan or a staunch user of drugs of any kind, the studies and
evidence on marijuana is more than telling. Especially when compared to legal,
over the counter drugs and other mind and body altering substances that are
legal like alcohol. We can only hope that a common sense approach is met and
one of the Caribbean states would take the mantle to test out a sensible policy
that strikes a keen and even social balance with regard to the decriminalization
of marijuana that all other Caribbean states can follow. <o:p></o:p><br />
<br />
The third and most important plank of this year's CARICOM meeting was with
regard to regional banking. Yes! The big elephant in the room. <o:p></o:p><br />
<br />
According to larger international bodies the region launders too much money,
stashes too much money for the rich, steals from international investors and
funnels terrorist money and monies for other illicit acts world-wide. Yes! It's
only the Caribbean that does this through their banks. Not Switzerland, not in
New York, not in Andorra, not Guernsey, not in Liechtenstein, not Qatar, Saudi
Arabia or Algeria. Just Caribbean regional and offshore banks! <o:p></o:p><br />
<br />
The hypocrisy is laughable. Laughable even more so in light of a bank leak
from the HSBC in Switzerland that claims to have tens of billions of dollars in
accounts. Just one bank in Switzerland. <o:p></o:p><br />
<br />
Apparently, there are 55 passport holders from the Bahamas alone that have a
reported $7 billion stashed away in HSBC. The Bahamas was the sixth largest
amount of passport holders. But passport holders are what they really are, and
not necessarily 55 Bahamians with a net-worth of over $7 billion dollars that
have their personal money stashed with HSBC in Switzerland. <o:p></o:p><br />
<br />
You see? In The Bahamas we have this financial instrument called "<a href="http://www.higgsjohnson.com/bahamas_corporate/faq.php" target="_blank"><span style="color: blue;">International
Business Companies</span></a>", or IBC's. <o:p></o:p><br />
<br />
To cut a long story short, I can incorporate an IBC and stand as the
"director" of the IBC or fund. I have a Bahamian passport and can act
on behalf of the shareholders, or the people with the money, to shuffle their
money around in any way, shape or form that I am directed to do so. So, when
found, the transaction is done in my name, as a Bahamian citizen, but the
money is certainly not mine. Even though I wish it were. <o:p></o:p><br />
<br />
Of course, detailing exactly who are these passport holders would solve all of this instead of assuming any, none or all of them are Bahamian citizens with their own personal wealth. <br />
<br />
Some of the people arguing for greater transparency and reforms in offshore
jurisdictions may have money stashed away in an offshore jurisdiction, or a
private fund that no one knows a thing about or has had personal business
transacted through a private banking account. Just like the <a href="http://www.dailymail.co.uk/news/article-2946899/Clinton-foundation-received-81million-donations-scandal-hit-HSBC-Swiss-bank.html" target="_blank"><span style="color: blue;">Bill Clinton Foundation</span></a> received millions of dollars from
donors as gathered from the information on the same HSBC leaked list most
recently.<o:p></o:p><br />
<br />
There is a case to be made on greater cohesion on banking and an
understanding on how some need to do business from all sides. Let's just be
fair about it. <o:p></o:p><br />
<br />
What should be addressed with regard to greater protection for the financial
services sector in The Caribbean are the overall benefits for
the risks taken by and for those in the sector. To say quite frankly:
It is immoral, unconscionable, disgraceful and just flat out cowardly that we
transact, or facilitate, on a yearly basis, billions upon billions of dollars
but the net benefit for those in the sector and their relevant economies is
minimal, relatively speaking. <o:p></o:p><br />
<br />
It has to be more than just doing it for pride, or saying that we have to
protect it because it makes us feel good inside to say we have to protect
it. It can't be that we are going through such lengths for this financial
services sector because of emotional strings and nothing beneficial for the
rest of us, or the majority of us. Has to be more than just that!<br />
<br />
So, as we wrap up this most recent CARICOM meeting. We wrap up! See you next year, God's willing!Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-56738550821312249552015-02-21T18:06:00.002-05:002015-02-21T19:03:47.170-05:00 Exchange controls and the Bahamian dollar!Since the introduction of Value Added Tax (VAT) in January, 2015, there has been some turbulence. As expected, it's a new initiative, one in which it places an additional cost on goods and services, so it was expected. One can only hope that with this additional cost to Bahamians that there would be additional revenue and spending reforms placed on the government with this windfall. <br />
<br />
The information or proof of movement towards greater fiscal responsibility has been a little dodgy, to say the very least about it. But, let's trust but verify that these reforms will be delivered as promised. <br />
<br />
What came as a result of VAT's implementation was something very extraordinary. Something that I did not expect to be brought into the debate post-implementation. Persons began making statements pertaining to the valuation of the Bahamian dollar, claiming that the Bahamian dollar is worth 7.5% (or cents) less after VAT implementation. <br />
<br />
Of course that's not how it works. That's not how any of that works. It didn't stop people from saying it, and most likely won't stop people from thinking or feeling that it may be the case. But, let's try to discuss the importance of the valuation of the Bahamian dollar and by extension, the fixed exchange rate's usefulness at this time. <br />
<br />
Just coincidentally over the last week or so, discussions about the exchange rate and it's usefulness was brought up in a very heated debate in the House of Assembly during the mid-term budget debate by two back-bench parliamentarians from the governing party. On one side pro-fixed exchange rate was Ryan Pinder, MP for Elizabeth and former minister for financial services; and on the other side, Dr. Andre Rollins, MP for the Fort Charlotte constituency. <br />
<br />
Through this I began to think, and harkened back to the notion that the Bahamian dollar would be devalued by the VAT, and at what risk will we be devalued on purpose or not, and then that almost means that a discussion on the fixed exchange rate system needs to be addressed and addressed in the proper way. <br />
<br />
I'm more than receptive to the idea of removing the fixed exchange control. It's something that should be in serious consideration at this time in our country's development. How do we go about doing that and to the extent it happens is up for debate. <br />
<br />
For the most part, persons in favour of keeping the fixed exchange control hinge their rationale on two main tenets:<br />
<br />
<ol>
<li>Removing the fixed exchange rate would lead to a direct devaluation of the dollar; and</li>
<li>There really is no need to remove the fixed exchange rate. </li>
</ol>
<br />
Let's examine the first point. Removing the peg will in fact devalue the local currency against the currency it is pegged against, for example the Bahamian dollar (BSD) versus the US dollar (USD). <br />
<br />
How does this happen? It's quite simple. The US dollar is the universal currency that is used to settle payments world wide. Aside from the Euro and to some extent the British pound, the USD is the new "gold standard". <br />
<br />
Countries try to make payments and use the USD in international trade and exchange because the USD is strong, universally accepted and in frequent supply and demand. <br />
<br />
However, this automatically means that all other smaller nation currencies are of lesser importance and to a significant extent of lesser value than the USD to begin with. So, before we speak about the merits of valuation and devaluation, we need to begin from that premise and understanding. <br />
<br />
How is a nation's currency valued? Well, there are two main factors. The first of which a currency is valued is based on the macroeconomic perspective of trade and exports minus imports, or in other words the balance of trade and the differences in the current account. <br />
<br />
When exports are higher than imports, this affects the value of a currency through the exchange rate by signalling that a country's goods and services are worth more than what they import. In The Bahamas, this is the exact opposite, or so it seems. <br />
<br />
From the information that <a href="http://www.tradingeconomics.com/bahamas/current-account" target="_blank">Trading Economics</a> has compiled from reports from the Central Bank of The Bahamas, The <span id="ctl00_ContentPlaceHolder1_ctl00_LabelShortDescription">Bahamas recorded a current account deficit of $533 million (USD) in the third quarter of 2014. The current account in The Bahamas averaged -$309.34 million (USD) from 2005 until 2014, reaching an all time high of -$49.20 million (USD) in the first quarter of 2010 and a record low of -$533 million (USD) in the third quarter of 2014. </span><br />
<br />
The methodology of balance of payments; i.e., current account balance, is slightly outdated. Glaringly, the balance of payments neglects the impact of tourism receipts on exports. Tourism is now and should be defined as an export, as the <a href="http://www.ced.travel/en/organization/about-us.html" target="_blank">World Centre of Excellence for Destinations (CED)</a> in conjunction with the United Nations World Tourism Organization. <br />
<br />
With tourism accounting for 60% of GDP in The Bahamas, which at any given year hovers around $5 billion dollars worth of value annually, with an average of $2.5 billion in actual tourism receipts since 2012, considering all of new information, The Bahamas is accounting for balance of payment surpluses year-on-year. <br />
<br />
Be that as it may, the fundamental point for one side of a country valuating their currency is based on the balance of trade. The second fundamental determining factor for valuating a currency is with regard to capital inflows. <br />
<br />
Capital inflows, quite directly for the Bahamian experience, almost solely, means foreign direct investment (FDI) for major projects that require land and human resources for construction and development, in addition to other receipts from sovereign bond issuances. Countries that have balance of payment deficits, but not exclusively, follow a capital inflow or a "FDI" based growth model for development, for obvious reasons. <br />
<br />
Because of the current prevailing notion on the balance of payment deficits and as that relates to capital inflows/FDI, policy makers, most likely, feel there is no need to tinker with it if removing the exchange control carries with it the psychological damage of currency devaluation and thus the self enforcing notion of the second point with regard to persons seeing no need to tinker with exchange rate in the first place. <br />
<br />
To further bolster the position on at least thinking along the lines of considering models and methods in which to relax the exchange control, we must take into consideration several things now:<br />
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<br />
<ol>
<li>The balance of payment methodology used by the economic establishment is outdated; </li>
<li>Rejecting, off top, for psychological reasons of currency devaluation, is meaningless considering the fact that when compared to the USA, almost all other countries currencies are meaningless because settlements are almost always denominated in USD;</li>
<li>Not having a concerted effort with regard to bolstering foreign reserves has not worked well in the past and targeting a foreign reserve quota per quarter would be more helpful; </li>
<li>International payments and trade is denominated in USD, and even the Euro-Zone and the ASEAN and APEC zones, even with the prevalence of the Euro, British pound and the Chinese Yuan, still use USD predominantly and especially when they are doing business with North-American, Latin American and some European countries; </li>
<li>The current thinking and rationale on keeping the exchange control, based on the outdated balance of payment methodology, and also based on the fact that now devaluing the currency would make production for export cheaper if we take into consideration that tourism is an export, only if in services; and</li>
<li>While imports would be more expensive, it also means exports- including tourism- would be cheaper to produce relatively speaking and per value and that would mean more US dollars to spend with local shops and venues.</li>
</ol>
<br />
The value as determined for what we pay for imports is inconsequential because our major exports are service related and not manufacturing based and also for the fact that The Bahamas imports "inflation" and are "price takers" from the USA, primarily. <br />
<br />
Even with regard to inflation, as The Bahamas is a price taker, increasing Bahamian dollar supply would not necessarily indicate a decrease in value once US dollars is still being brought into the country via tourism, primarily, and also by capital inflows once brought in as USD or another controvertible currency that can be held in foreign reserves as it already is the norm. An additional best case scenario would be to allow simultaneous US dollar accounts with Bahamian dollar accounts. <br />
<br />
The operative term is "value", and not in a dollar for dollar or monetary sense, but value in terms of the quality and value of life and living in The Bahamas. <br />
<br />
For example, while the US dollar is trading at $1 for every .88 cents in Euros, can we with certainty say that every country in Europe has a better quality of life than America? <a href="http://en.wikipedia.org/wiki/Human_Development_Index" target="_blank">The UN's Human Development Index (HDI)</a> states that the United States has the fifth highest HDI with Norway #1, Australia #2, Switzerland #3 and the Netherlands at #4. Conversely, for the Australian dollar, you would need $1.28 for every US dollar. Are we to say that Australia is doing more poorly qualitatively speaking in terms of their lack of equal parity with the US dollar. <br />
<br />
As it stands now with the latter issue of imports requiring US dollars in any event, if we move away from the exchange control and it results in currency devaluation based on the old methodology for balance of payments, a devaluation that really would be normal under any circumstance when faced with the obvious fact that the USA is the dominant economy in the world would not make much difference when the quality of life is the ultimate goal and not necessarily keeping exchange controls for superficial reasons.<br />
<br />
The considerable reliance on customs duties that have now since started along the process of being replaced by VAT would still make thinking on the possible benefits of moving away from exchange controls fruitful even at this stage. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-91713102947975531282015-02-14T17:14:00.001-05:002015-02-14T17:37:26.384-05:00The mid-term budget: Let's give it justice!On February 11th, the prime minister of The Bahamas, Perry G. Christie, who also serves as the substantive minister of finance as well, gave what we call a "mid-term budget" to advise the public and the parliament of the performance of the government on their fiscal management and their economic planning. <br />
<br />
The provision of a mid-term budget isn't a new practice, and neither is it a very old practice. It is not constitutionally mandated, but the appreciation by the political directorate, for the last 10 years or so, towards giving the parliament and the public at large the respect and decency it deserves with regard to telling them how their money was being spent was and will always be welcomed. Outside of a freedom of information act, or a transparency in government finances act, this is the best we can do and expect at this time. <br />
<br />
For starters, the mid-term budget, while it's not a legal or constitutional mandate, should and could be done a little earlier than the first or second week in February. Not because I feel it is just made up out of thin air and easy to do, but because the information should be right at hand since we are dealing with such serious times and producing it earlier in January would give more confidence that persons are on the ball. <br />
<br />
However, and before we all break out into paroxysmal euphoria, let's run a little bit of the issues back just so we can appreciate what's really important here. <br />
<br />
For starters, the mid-term budget, while it's not a legal or constitutional mandate, should and could be done a little earlier than the first or second week in February. Not because I feel it is just made up out of the air and easy to do, but because the information should be right at hand since we are dealing with such serious times and it would give more confidence that persons are on the ball. <br />
<br />
In light of this, the performance as reported could have been a little better, but it is what we expected based on two factors: The preparation for the Value Added Tax (VAT) in terms of revenue collection enhancement in the Customs Department and subsequently all other revenue generating departments prior to the VAT being introduced, could have given the government a better boost. Secondly, The Bahamas's economy shrunk by nearly $230 million dollars as stated by the prime minister between 2007 to 2012. These two issues are very important. <br />
<br />
With the first point, let's take for example what theoretically should have happened before January 1st of his year. Not only was there supposed to be the preparation for the VAT, but also all other revenue generating agencies were supposed to be upgraded to buttress and support the introduction of VAT as part of a package to make the transition and additional taxation easier for businesses and consumers. This has not been the case for the most part. <br />
<br />
The Customs Department's reformation has been not as stellar as it was promised. With a loan financed by the Inter-American Development Bank, the project has not shown to have delivered the goods pre-VAT introduction and one can only hope that it would be corrected. As it stands now, the Customs Department collects less than 50% of all duties. No VAT could truly fix that if the main leakage in your main revenue generating department is not even collecting 50% of it's expected revenue.<br />
<br />
<iframe width="320" height="266" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/kg0IyImPlu4/0.jpg" src="http://www.youtube.com/embed/kg0IyImPlu4?feature=player_embedded" frameborder="0" allowfullscreen></iframe>This, of course, was acknowledged by the prime minister who stoutly stated, as well he should, that they are working on enhancing these revenue generating areas and it is something his administration is aware of. Which is a great first step in actually moving forward with the overall reformation process which is expected to take years to fully complete, if ever. What should be expected now, and requested equally, is an overall progress report of the money spent with these reformation programs, the methods used to arrest the problem and measurements provided on the efficacy of these programs, how the problems can be corrected and prove to be successful in the current term and long term. <br />
<br />
While VAT for a large part will run simultaneously and with the Customs Department at the border, if the same "challenges" are put in with the same system, or wrought with the same systematic challenges, then revenue collection will be weak and will not be optimal where Bahamians would see the benefits of the money they spend. <br />
<br />
The second point with regard to the shrinkage of the economic pie in The Bahamas is critical. While the IMF forecasts growth over the next two to three years for The Bahamas at a modest 2%, the fact of the matter is we are no where near out of the woods in terms of a new path for economic progress. <br />
<br />
What has happened, and rightfully so, the government has tried to spend it's way back into growth and prosperity. The GFS deficit during the first half of this fiscal year, 2013/2014 amounted to $238 million, down from the $295 million during the 2012/2013 year. <br />
<br />
The decrease in the deficit from the 2012/2013 year into the 2013/2014 fiscal year could be accounted for with regard to a new government, projects from the previous administration being slashed or just scrapped, as per the norm. However, for this mid-term budget report, the deficit increased to $273 million from the last year's $238 million. <br />
<br />
However, while we see the spending increase, and we see modest gains with regard to overall GDP growth rate indicators, and projected to grow more slightly over the next 2 to 3 years by the IMF, we still have staggering unemployment that is stubbornly slated at over 15% in addition to overall business failure. <br />
<br />
While this lends to the notion that while the government has committed itself to stimulating the economy through spending, the evidence indicates that they are not spending the money in pro-growth areas and spending the money on things that would substantially bolster the economy, boost growth, create jobs and increase the overall trajectory of The Bahamas in a more positive direction. <br />
<br />
This too was also highlighted in the mid-term budget communication, and the prime minister flatly acknowledged that our models and methods of economic growth stimulation, economic management and interventions are outdated and in many cases, antiquated and ill suited for us to get our country back on the path to prosperity. <br />
<br />
This is heartening to hear. One can only take the prime minister at his word that changes in the way we do business is forthcoming and that new tools and measures would be added to the basket, and in some instances, stripped away, if we want to talk about real economic empowerment for the rest of us. <br />
<br />
As we acknowledge this along with the prime minister, one item glaringly missed in the mid-term budget communication was the overall support for small businesses and entrepreneurs. What has not happened is an embrace for entrepreneurs in this new world and new world economic order through the pronouncements of this mid-term budget. <br />
<br />
While the introduction of a new method for obtaining government contracts has been set into effect, the Public Private Partnership model, the fact of the matter is that there is more that can be done with regard to increasing the overall business environment, the granting of licenses, government support and hand-to-hand negotiations and support for entrepreneurs particularly those geared for trade and export or new technological advancements, better support for professional services and professional services providers, in addition to the government relieving itself of most of the services it produces to the private sector and small and medium sized entrepreneurs, without special favour or harm. <br />
<br />
These are indeed high and lofty goals. Considering the size of our government in terms of it's legal and regulatory intrusion, and not at all with regard to its human resources, the task for doing such is daunting considering also the fact that the government operates heavy handed and in some instances, in clandestine manners at times in relation to how it works with and deals with persons in the private sector. <br />
<br />
But a start must be made. Because, we can't see growth and be better in all overall performance, regardless of the tax regime and regardless of the deficit spending for growth, if Bahamians aren't given a fair shake off of the rip and the inconsistency of our regulators and their administration of these antiquated regulations are a part of the big government problem. Big government equals small private sector. <br />
<br />
All in all, we see signs of slight improvement. Even if only through blatant acknowledgement by the minister of finance and prime minister of the understanding of the new world order we live in, one can only look forward with optimism as we work together for a better and more progressive budget year and economy. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-27467124913362651972015-02-07T19:02:00.000-05:002015-02-09T13:34:19.618-05:00The never ending drama in Grand Bahama!If you talk to any resident of Grand Bahama, they would tell you that they hate the government and their constant interference in Freeport and particularly with the Grand Bahama Port Authority (GBPA). But, walk away, and come back within 10 minutes, those same people will also tell you that they hate the GBPA and wish that the government would come in and stop them from being so mean and arbitrary to the residents and businesses of Freeport. <br />
<br />
I was unclear of all of the issues as it relates to all of the cause for all of this vituperation coming from both sides of the argument, so I did the best thing one can do these days: I took the question to social media, and the returns were very interesting to say the very least. Refreshing and enlightening, while at the same time leaving me a little curious as to why some people decide to talk in codes and riddles about what ails them and the troubles they face with the government, Freeport, Grand Bahama and the GBPA nexus? <br />
<br />
Well, the primary takeaway I had from those exchanges was that you just can't have your cake and eat it too. The other sad thing is that by the way the relationship between the residents, GBPA and the central government have evolved over the years, there is no easy solution to the madness as a lot of emotions are wrapped up in this, as well as a lot of distrust along with an overall lack of agreement on the direction Grand Bahama should take with the government and GBPA in addition to a lack of vision on the matter entirely. <br />
One thing everyone can agree on is that calling it "quits" on the entire GBPA project would do more harm than good. Because, it would not only show minor failure with regard to displaying that The Bahamas can't deliver on another development success story outside of New Providence. But, more importantly, a gigantic failure on the matter of the execution of a concept that has worked so well in other jurisdictions: i.e., the concept of a "Free-Trade-Zone". <br />
<br />
Secondly, the government has little or no rights to involve themselves in the administration of the Freeport area until it is contractually obliged to do so, and every time that they do outside of the agreed upon term limit for the general Hawksbill Creek Agreement along with the subordinate and supporting agreements, as local Grand Bahamian lawyer and Queens Counsel Fred Smith always points out, the government loses the court battle. Yes, the government has never won not one single court battle against the GBPA. Not one! Not even close to winning one. Sad, but true. <br />
<br />
Thirdly, it's clear that the GBPA Free-Trade-Zone has not worked out for the benefit of all and sundry. With massive unemployment in Grand Bahama with the rate over 18% as outlined in the last labour survey, in addition to businesses, from 2008, having steadily and surely shut their doors for good amidst cries of high-energy and electricity costs in addition to a weakening in consumer demand brought on by high unemployment, you don't need to be The Amazing Kreskin to understand how unfortunate the situation has become. <br />
<br />
As you can clearly see, this is what folks would call a huge boondoggle, to put it mildly. It all looks so useless, and on top of that such a tremendous waste of resources and human capital, to be brutally honest about it.<br />
<br />
This kerfuffle, quite sadly, seems to have no end in sight. As we have been led to understand the extensions for the GBPA go into the year 2054, but only with the real property tax exemptions set for renegotiation in this year, 2015. <br />
<br />
So, apparently, we are set for a "Showdown" at 2015 High with the central government folks on one side, and the pro-Freeport people on the other. High drama, indeed. <br />
<br />
But, just to add my two cents based off of the exchanges I had, and not exclusively most recently about the problem in Freeport, having heard- and in some respects, not heard- a lot of other issues and concerns, I have come to understand and have taken into consideration four sticking points with regard to this affair: <br />
<br />
<ol>
<li>The now resolved dispute over the ownership of the GBPA still frightens persons, particularly that it may flare up again. </li>
<li>The 2015 exemptions renegotiation process and possible sunset of said exemptions. </li>
<li>The application of clear and transparent fee schedule and licensing for businesses </li>
<li>Central government inaction with regard to even assisting in resolving all major and minor matters. </li>
</ol>
Perhaps someone from the outside with no emotional ties or sentiments towards the matter other than wanting to see it successfully working for the benefit of the entire Bahamas is what is needed. <br />
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The first thing is that the good news about this entire affair is that the GBPA shareholder dispute is over, for now. Apparently the "owners" were at odds for a brief period that ended up in logjam for quite some time, particularly families of the late Edward St. George and the recently deceased Sir Jack Hayward, but it has been settled and both sides have agreed to maintain the 50/50 equal split of the GBPA's ownership, with the government having a 7.5% share out of it all. <br />
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The second thing is that in, 2015 the real property tax exemptions are set for renegotiation. As the agreement stipulates, Freeport GBPA licensees are exempt from paying real property taxes to the central government. The national real property tax law mandates that real property taxes be exempt for properties valued under 250k; properties between 250k to 500k, 3/4 of one percent of the total value must be paid; between 500k and 5 million is 1% of the value; and any property over 5 million, one quarter of one percent the total value of the property must be paid as it is valued by the government. <br />
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I see no reason, considering that the price of property in Freeport is considerably less than that of New Providence, where in Freeport an acre of prime real estate on a Marina or Waterfront costs under $1 million dollars, compared to property of the same type locale in New Providence can fetch well into the multi-millions of dollars. So this should not be a critical issue seeing that real property taxes are as low as they are generally, and also considering if that you have the money to buy a property valued at over 250k, then you most likely should have the money to maintain it and pay taxes when most all else is waived. This is only fair. <br />
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Of course, renegotiating this exemption is not my call to make, but it wouldn't be unfair or damaging if it is allowed to sunset, all things considered with the current state of immobility in Freeport. The impact just seems negligible. <br />
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The third thing, and this is what I had to pry out of and talk to people on directly about the management of the GBPA, is that the rates and fees for licenses seem to be more than a little murky. They seem arbitrary, to put it very mildly. This was detailed to a great extent in the Grand Bahama Chamber of Commerce's Vision 2015 Paper that it presented to the government on their matters about Freeport and Grand Bahama development. <br />
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Some license fees are somewhat high, considering the lack of economic growth in Freeport in recent times, and particularly if we are talking about stimulating Freeport and Grand Bahama again. <br />
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But also, some license fees are set at a rate "to be determined". This lends itself to the idea that the rates are being set by the whim and fancy of someone, or some group of persons, feeling that one particular investor should be charged this amount for a particular enterprise, and another can be charged a totally separate rate for the same type of enterprise, with none of those rates set in stone with regard to the regularity of a particular set schedule they must adhere to or contractually agreed to. <br />
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So as it appears, if the GBPA doesn't like you today, for whatever reason, they can simply price you out of the market or revoke your license without nothing much an investor or licensee can do about it. That in itself is the largest investment risk to Freeport, and far outweighs, in my estimation, anything the government can do, has done but failed, or threatened to do with regard to any imposition of greater control and tax collections from the GBPA and Freeport. <br />
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With all of this into consideration, even when we factor in a minor issue with regard to the GBPA wanting greater control of their immigration and the skilled migrant worker program, with immigration being a national hot button issue right as this article is being penned, and a demand which seems more of a pipe dream by those pro-GBPA than it is closer to any sort of reality, government inaction on the proper sticking points throughout this entire debacle has been much of a problem as is everything else. <br />
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However, there is very little that the government can do based on all of the prevailing factors if the government wants to be seen as a democratic, free market friendly government- even though fair, clear and standard free market principles are not being adhered to in the GBPA as it relates to the arbitrary license fee schedule. <br />
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More importantly, it's not as if the government has had success with regard to imposing their will on the GBPA at all, in any event. Also, it's probably not within the best interest, nationally, for the government to make Freeport into just another Family Island centre that has all of the issues that come along with either the capital in New Providence or, at worst, the problems of being a Family Island. <br />
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In my humble estimation, most of the major problems and the exacerbation of such within Freeport and the GBPA are self inflicted. Skilled migrant control issues notwithstanding, there has been nothing the government has done or can do for the GBPA in its current form and present state. Sad, but true. <br />
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This very unfortunate situation is like watching your little brother that was supposed to be bigger and better than you were in any and all respects, just destroy himself and his potential off of sex, drugs, alcohol along with crude and unusual forms of self mutilation. You can't "stop" him from doing what he wants with his life. You can only offer occasional help from time to time and ensure that his problems do not become more of your problems. <br />
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Most persons that wish to complain would like to think that the central government is the problem in Freeport, but the truth is a lot more serious and real than is the perceived boogeymen sitting up in their Bay Street offices just looking for every which way to stick it to Freeport. <br />
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Alas, and as it may frighten some, but one day, and one day before 2054, the government will have to step in with the GBPA to ensure fairness and equity for all involved and those wishing to be involved in the success of Freeport. <br />
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As the government assisted back in, 1955 with the signing of the Hawksbill Creek Agreement which allowed for the establishment of the GBPA, so too will they have to be involved with the restructuring of the GBPA and the Hawksbill Creek Agreement in plotting a better and more clearer direction for Freeport. <br />
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It is simply just that with all of the options out there, but with the present mechanisms, management and wilful acceptance of the current arrangement by pro-GBPA affiliates as it stands, there is little else that can be done by government or anyone else for that matter. Which means a continuation of the woeful status quo, but that's just the way it will have to be. Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-77723085935643396182015-01-31T18:09:00.002-05:002015-01-31T19:51:31.599-05:00American changes on Cuba: Bad news or good news?President Barack Obama has just now opened up channels for future dialogue with the Communist Republic of Cuba. Most people should have a cursory understanding of the Cuban/American diplomatic, political and economic standoff by now. But as tensions cool now to a new generation of understanding and tolerance of Cuba/America relations, certain issues have come to light with the possibility and seeming eventuality of opening the doors for Americans into Cuba. <br />
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Former President of Cuba, Comrade Fidel Castro, has been ill for the past few years. His brother, President Raul Castro, has assumed responsibility for the country's administration. This initially had signalled a small shift in thinking on Cuba's communist and anti-Western ideology espoused and kept current by Fidel Castro. <br />
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Fidel's brother, Raul Castro, is certainly not Fidel and apparently is not as hard and fast on having further prolonging this unequal, wasteful and nonsensical standoff with the Western-Hemisphere's largest economic block and the world's largest military super-power, the United States of America. <br />
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How does all of this go over with Cuban migrants that were affected by Fidel Castro's policies is something very important. In fact, oddly enough, the reaction of South Floridians has been tame. Too tame. The man responsible for them leaving their homeland in search of freedom, and in most certainty the man responsible for taking their wealth and power within Cuba post revolution, is being given leeway by America through his younger brother as the current president of Cuba. <br />
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This means one thing: The old guard of Cuban migrants in South Florida have either died out, or are simply coming to the understanding that the American blockade on Cuba has worked to the disadvantage of all persons involved intimately in this. <br />
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While living in South Florida, I had a chance to take a Latin-American politics class. As per the norm, the class was primarily filled with Cuban-Americans. The good thing about this was that younger Cuban-Americans, while they were aware of Castro and the Revolution and the pain and displacement it caused their friends and family members, were not as hard pressed on Fidel Castro or the Castro regime to any large extent. This was refreshing. <br />
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So, as we see things changing, the time is apparently "ripe" for an opening of US and Cuban relations. We wish the parties all the best as the embargo, quite frankly, has done more to harm Cubans living in Cuba than it did the Castro regime. <br />
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<iframe width="320" height="266" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/V2ko5h8yHFc/0.jpg" src="http://www.youtube.com/embed/V2ko5h8yHFc?feature=player_embedded" frameborder="0" allowfullscreen></iframe>However, Cuba opening up, particularly for tourism based economies like The Bahamas, has caused some fears and anxiety. Anxiety particularly as it relates to Cuba, being a beautiful and culturally historic country that would be "new" and virgin tourism product for Americans, and especially North Eastern seaboard American tourists. <br />
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Just to give a little bit of information on the top visited destinations in the region, The Bahamas, as reported by <a href="http://www.travelersdigest.com/7235-the-ten-most-visited-caribbean-islands/2/" target="_blank">Travellers Digest</a>, is the fifth most visited destination in the Caribbean with about 1.3 million visitors a year, behind Jamaica with nearly 2 million and Cuba with 2.6 million in the fourth and fifth slots respectively. The Dominican Republic is in the top spot with just over 4.25 million visitors and Puerto Rico in the number two spot with roughly 3 million visitors. <br />
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The Bahamas is not even in the top spot, with Cuba having doubled the amount of tourists a year than does The Bahamas. The question to be asked now is how much more of a gain will Cuba make with regard to more tourist arrivals and how will it impact the persons looking to travel and them changing their travel plans to go to Cuba instead? We honestly won't know until it happens, but the option is on the table for that to occur. <br />
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What's shocking to note is that the top three destinations on the list are non-English speaking countries. What's also shocking is that the largest English speaking economy, Trinidad, is not even in the top ten. Also, the further you go Southward, tourist arrival figures start to trend downwards for English speaking countries. <br />
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What all of this suggests is that we have problems with tourism, right here and now even before Cuba fully opens up to Americans. <br />
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What it also suggests is that Cuba has made it quite fine with a mixture of tourists that are not American, as most of their visitors are Canadian and Mexican. While Mexicans obviously speak Spanish, the Mexican economy must be very strong and support a strong middle and upper-middle class, at the very least. It is those middle and upper middle class people that like to take vacations to get away from the hum-drum of life and in the numbers needed for a country depending on tourism as their main economic engine. <br />
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While The Bahamas, at least, should be concerned about, roughly, 250 to 350 thousand (or thereabouts) prospective tourists changing their itinerary from The Bahamas to Cuba, the point of the matter is what should we do to get more tourists to our shores right now as we type? <br />
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I'm no tourism specialist. However, anything over 250 thousand visitors deciding not to come to The Bahamas on any given year would most likely spell serious consequences. <br />
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With all of that being said, as we wrote earlier about the inconsequence of the <a href="http://www.thenassauguardian.com/opinion/op-ed/52448" target="_blank">Sir Stafford Sands economic model</a> at length, and particularly as it relates to the need for other economic engines for The Bahamas, what should happen now is more of a focus on other industries in addition to capturing some of the Canadian, Latin American and European tourists along with Asian tourists. <br />
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Of course, money is always an issue. Money as it relates to tourism marketing expenditure, facilities upgrades and maintenance with regard to increased air-lift support and activity/venues for tourists when they come on shore, but we should not shy away from the challenge and shrink at the mere thought of doing something different and doing what we do better. <br />
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All in all, I for one welcome the shift in American foreign policy towards the end of the embargo on Cuba. It was long over due. In fact, it was something that should have been done 20 years ago, and particularly after it was seen that the Communist ideology was clearly and resoundingly defeated, the Soviet Union will never be again and that Cuba was no more of a military threat to America as is any other Caribbean nation a non threat. <br />
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In advance, we want to wish our friends in Cuba, Buena suerte, con mucho amor! Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0tag:blogger.com,1999:blog-5156847075660851627.post-22108981732146264142015-01-24T18:09:00.001-05:002015-01-26T09:29:10.267-05:00Sex, lies and videotape: Going viral and the consequences!I typically don't make a habit of posting social commentary unless it has something of value that I can spin off of from a social study or into one. Particularly when Rome is burning, commenting on the lack of water for the plants seems to be inconsequential and putting other more substantive matters on the backburner seems unprofitable. But, this is one of those rare occasions where it seems as if, in this case, our young flowers are being put on display via the internet in any manner of sexually explicit, violent and morally corrupt situations. <br />
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A few days ago I was made aware through social media that the sexual prowess of a police officer of the Royal Bahamas Police Force, Constable Edmund Lewis Jr., was on display as he filmed a threesome, apparently unbeknownst to the other participants. This police officer also has several other videos of his sex-romps, and one reportedly with an under-aged girl. Officer Lewis has since been arrested and is now currently on remand until March, 2015 when his case is expected to be heard. He was also fired from the police force. Quite an unfortunate situation for all of those involved. <br />
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At first thought, one would think that it was an isolated incident of one particular sex-romp and that the contents were stolen from the owner, and somehow it got into the hands of someone that was more than willing to share this private moment with as many persons as possible. But, as we are now led to understand by the charges levied against officer Lewis, he apparently has several videotapes of his sexual exploits with various women, one of them alleged to have been under-aged at the time. <br />
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As it turned out, the female participants were extremely angry. To such an extent that there surfaced yet again another video, this time recorded from a cell phone, of one of the female participants and a few of her friends and family members beating the living daylights out of Lewis for filming her with out her knowledge and then sharing it with friends. Of course, this too is a crime. Crimes ranging from assault, kidnapping and perhaps attempted murder if we want to really be harsh. <br />
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You see? This is how far it has gotten with the introduction the world wide web. Of course, this phenomenon isn't something brand-new and most certainly something that was going on around the developed countries in large numbers from the early 2000's, particularly with the introduction of social media websites like MySpace and Hi-5. However, it has gotten even more wild and voluminous with the advent of Facebook, Twitter and now Instagram and Whatsapp. Yes, what you do and say can go around the globe 100 times in 10 minutes with just a click of a button. <br />
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But, to what extent do we understand that this new form of media and ways to connect with people should be used with responsibility? To what extent to we tell people that we need to understand the value of using social media, and the double edged sword that it is in many respects? <br />
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So, as we have seen current, and I am most certain have seen countless other incidences, people going well and beyond the call of duty to share their most private moments with people. People that may or may not have their best interest at heart, but in these incidences, people that surely have no issue with sharing your private moments for their benefit if they have the chance.<br />
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But, the issue of social media sharing in such negative ways does not end there. In fact, one can also be a victim without being a participant at all, but by just being there for someone to harass and be privy to things you wish not to be privy to. <br />
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I too was a victim of a exhibitionist. A male, who represented himself to me as a Bahamian living abroad, added me as a friend to my Facebook account a few months back. He claimed to have read my articles via the various on-line media sources like the Caribbean News Now, The Bahamas Weekly and the Nassau Guardian. <br />
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What then started as innocent chatter between countrymen from the Bahamas but living in separate countries, and for him someone that was living abroad and that claimed to want first hand information of what was going on on the ground, shockingly and without warning ended with him sharing with me a picture of his genitals.<br />
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Of course, I went ballistic! Not for the fact that he may be homosexual, or an unashamed voyeur, at the very least, looking to get his rocks off on the shock and awe of his invasion into my inbox with his penis pictures. But it was for the mere fact that he would do something like that, with no warning, and with no solicitation and just would up and send a picture of his private parts to a total stranger. A strange man that he was not sure of who I really was, if I was someone that would appreciate that, or just someone that would take that and make a public spectacle out of it and him, and at the very least share it with the authorities and report it as a case of assault. <br />
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In my moment of anger, I did something rash: I shared the picture with his name attached for the world to see. I exposed him, reported the picture and his profile to Facebook and then proceeded to exact my revenge for this invasion of my privacy and conscience. <br />
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As you can imagine, the issue of me sharing and exposing the pervert caused some stir. I got it from all sides, from ridicule, to shock, to persons asking me what did I do or say that caused him to want to share his penis picture with me? I assured them that I did nothing aside from talk about the issues in The Bahamas and Caribbean, and from that it may have given him the courage in his deepest and most erogenous spots to do what it is that he did. (Now I know how rape victims feel when no one believes them, or when folks say that it was "their" fault for the rape in some way, shape or form.)<br />
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But, as with my moment of anger, who is to say what went through the minds of the persons that share private and sexual videos, and that these expositions don't have a twinge of anger at the root of it all? Or, even worst: A moment of jealousy where you sought to tear down the image of another? <br />
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Of course, all three cases are totally separate, but they share the same common thread: In the days of social media, be careful what you share and who you share it with and make it a matter of a priority that you discern this. <br />
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General rules of thumb must be observed: <br />
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<li>Do not take off your clothes for anyone other than your committed lover or spouse for anything else other than it being for commercial use, especially for it to be transmitted live via the internet. In some places pornography and the proliferation of pornography is illegal, but there is some leeway for tasteful nudity and shared private art between friends and colleagues. </li>
<li>Do not share "all" of even any of your personal data and/or information on social media unless it is something innocuous or standardized like pictures of your family, your spouse or the schools you have attended and professional affiliations. </li>
<li>Sending lewd or suggestive pictures via your cellular phone, especially one that bears your face or something that can be traced back to you personally, or racy texts to people without their asking, or without them knowing you personally can also lead you into serious trouble. </li>
<li>Filming a crime in progress, especially when you are the perpetrator, is a crime within itself on top of the crime you are committing. Also, withholding evidence from the authorities is also a criminal act and one can face time in prison. </li>
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The overarching theme and message here is that you don't know who's out there, what type of security they have on their side of the transmission or how they truly feel about you now, and what they may feel about you in the future. <br />
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Secondly, and almost as important as the former, be mindful of what it is you are doing out here in the first place: Be mindful of the laws in place, in particular when you feel something isn't right, or at the very least makes you uncomfortable knowing what you are doing is taboo, socially awkward or just plain wrong!<br />
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Be safe. Be smart. Use this wonderful tool of social media wisely. It can be used for our benefit if used properly. But some discretion and common sense must be practiced. <br />
<br />Anonymoushttp://www.blogger.com/profile/06937916483766181047noreply@blogger.com0