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Re: PNM in Gov't

this is how we do it.......

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MaxPower
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Re: PNM in Gov't

Postby MaxPower » August 31st, 2020, 10:18 am

zoom rader wrote:
Redman wrote:ao what is it we want?...no Mp or Senator can be part of a business that does work with or for the govt.?


Government MPs and Senators do not work for the People that did not vote for them.

Oppositions areas get very little service and have to wait till the end of 5 years to see little to nothing .

Where are the swimming pools for Opposition areas ?


Lol

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Re: PNM in Gov't

Postby The_Honourable » August 31st, 2020, 12:03 pm

MaxPower wrote:Happy Independence Day Trinis.

You all do not deserve Independence, but you sure deserve this.

Enjoy.


Image


https://www.cnc3.co.tt/pm-covid-has-cre ... lion-hole/


Prime Minister Dr Keith Rowley yesterday admitted the COVID-19 pandemic has devastated our efforts in the tourism market, creating a $15 billion hole which is likely to impact the country’s upcoming budget considerably.

A further fall out of the pandemic, Rowley said: “We are on the verge of having an international label at Tobago’s Magdalena that is now in limbo and even Carnival, more than likely will be a casualty.”

Finance Minister Colm Imbert is expected to present the national budget in the coming weeks.

Rowley said the country has seen some dark times in the past which we battled.

One instance, he said, was in 2015 when his Government assumed office and discovered insufficient funds in the national treasury and collapsing revenues, but was able to find creative ways “to keep the lights on,” promising the Government will plan and execute as they have been doing.

“This time, 2020, is one such challenging period,” Rowley pointed out. Rowley in his first Independence Day address to the nation last night after being re-elected spoke at length about the virus which has negatively impacted economies worldwide.

“We all expect this pandemic will pass, eventually, but our future and fortunes cannot be just tied to the passing of Covid-19. It must be built on us growing, on our sowing and building, on us thriving in new businesses and in new ways while we make our national recovery and passage through these difficult times, no matter how long they last.”

Stressing that T&T was no different from any other in the world––from the richest to the poorest where there is a limited amount of hospital beds and ventilators, a limited number of doctors, nurses and personal protection equipment––the PM said, “We have so far held among the best in the world on the management of Covid.

“As the virus progresses through its natural cycle today, we and 146 other countries are fighting community spread.”

The PM said now was not the time for fun, frolic and bravado which would invite unspeakable disaster.

He said T&T, like the rest of the world “may yet feel its full ferociousness and we still have no idea when it is going to end. If we do not do this with diligence and sustained social responsibility, our medical system will be overwhelmed, with the potential of a collapse, posing then further disasters for us all.”


Ahhh upfront excuse... Imbert polishing the pipe to plug said hole...

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Re: PNM in Gov't

Postby jhonnieblue » August 31st, 2020, 12:09 pm

This gonna be one stink budget

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Re: Re: PNM in Gov't

Postby zoom rader » August 31st, 2020, 12:12 pm

I still trying to understand when did the tourism market created $15 billion ?

Guess houses by the hour creating this ?

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Re: PNM in Gov't

Postby MaxPower » August 31st, 2020, 12:19 pm

Politicians are going to make history with their record breaking “bonuses” after they rest the pipe on allyuh.

Remember Trinis, you will be held accountable for your actions.

You Trinis had the opportunity to act and you failed miserably.

It’s very unfortunate that the minority of the population that genuinely tried now has to pay for the rest of allyuh stupidity.

So yeh, continue playing the ass with that stink Trini doh care mentality.

Who laughs last....what?

Let Imbert finish the statement.

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Re: PNM in Gov't

Postby aaron17 » August 31st, 2020, 12:51 pm

So we rolling back pension and wages...

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Re: Re: PNM in Gov't

Postby pugboy » August 31st, 2020, 1:00 pm

totally unbelievable

zoom rader wrote:I still trying to understand when did the tourism market created $15 billion ?

Guess houses by the hour creating this ?

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Re: Re: PNM in Gov't

Postby zoom rader » August 31st, 2020, 1:24 pm

pugboy wrote:totally unbelievable

zoom rader wrote:I still trying to understand when did the tourism market created $15 billion ?

Guess houses by the hour creating this ?
Redman please explain how tourism made 15billion .

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Re: Re: PNM in Gov't

Postby Dohplaydat » August 31st, 2020, 1:24 pm

pugboy wrote:totally unbelievable

zoom rader wrote:I still trying to understand when did the tourism market created $15 billion ?

Guess houses by the hour creating this ?


Last time I checked it was 4B, for it to be 15B they probably included all restaurant and leasuire activity earnings due to 'local' tourism.

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Re: Re: PNM in Gov't

Postby zoom rader » August 31st, 2020, 1:27 pm

Dohplaydat wrote:
pugboy wrote:totally unbelievable

zoom rader wrote:I still trying to understand when did the tourism market created $15 billion ?

Guess houses by the hour creating this ?


Last time I checked it was 4B, for it to be 15B they probably included all restaurant and leasuire activity earnings due to 'local' tourism.
Local tourism does not bring in US dollars.

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Re: PNM in Gov't

Postby Cantmis » August 31st, 2020, 1:36 pm

That has to be tobago !
If so give them independence!

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Re: PNM in Gov't

Postby VexXx Dogg » August 31st, 2020, 3:12 pm

That 15b hole sounding painful and I guess we the people are gonna feel it. No political colours with that kinda pain.

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Re: PNM in Gov't

Postby zoom rader » August 31st, 2020, 4:13 pm

VexXx Dogg wrote:That 15b hole sounding painful and I guess we the people are gonna feel it. No political colours with that kinda pain.
Off course,

Meanwhile Faris collects rent on an empty building.

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Re: Re: PNM in Gov't

Postby The_Honourable » August 31st, 2020, 9:37 pm

Once again Dr. Rowley is using covid to rewrite history. The 15 Billion dollar "hole" in the economy he's talking about was not the result of Covid-its a hole dug by his government and his inept Minister of Finance.

T&T is currently facing a major forex crisis, a looming debt crisis and a private sector being strangled to death by red tape and government corruption.

Its clear Dr. Rowley intends to make "blame Covid," the new "blame Kamla.". This strategy might be good politics but it's a bad sign for all those of us who live in reality rather than political echo chambers.

It remains to be seen how much longer the government intends to use spin as a substitute for crafting real policy to spur real economic growth.

Sunlight may not kill Covid.

But incompetent governments can Kill economies.

Source: https://www.facebook.com/darryn.boodan/ ... 7687800023

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Re: Re: PNM in Gov't

Postby pugboy » August 31st, 2020, 9:53 pm

We also have a nis pension system which cannot sustain the current pension payouts.

No govt wants to admit that though they just sweep it under the carpet.
Sooner or later they will raise the retirement age.

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Re: PNM in Gov't

Postby MaxPower » August 31st, 2020, 10:05 pm

The_Honourable wrote:Once again Dr. Rowley is using covid to rewrite history. The 15 Billion dollar "hole" in the economy he's talking about was not the result of Covid-its a hole dug by his government and his inept Minister of Finance.

T&T is currently facing a major forex crisis, a looming debt crisis and a private sector being strangled to death by red tape and government corruption.

Its clear Dr. Rowley intends to make "blame Covid," the new "blame Kamla.". This strategy might be good politics but it's a bad sign for all those of us who live in reality rather than political echo chambers.

It remains to be seen how much longer the government intends to use spin as a substitute for crafting real policy to spur real economic growth.

Sunlight may not kill Covid.

But incompetent governments can Kill economies.

Source: https://www.facebook.com/darryn.boodan/ ... 7687800023


Hello The_Honourable,

Hope you and the fam are all well and safe.

Man this is so true.

The Govt can do almost anything and “blame Covid”.

I mean corruption will be so much more easier and the perpetrators will have the perfect excuse.

Find allyuh respective almighty and pray yes.

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Re: Re: PNM in Gov't

Postby zoom rader » August 31st, 2020, 10:27 pm

The_Honourable wrote:Once again Dr. Rowley is using covid to rewrite history. The 15 Billion dollar "hole" in the economy he's talking about was not the result of Covid-its a hole dug by his government and his inept Minister of Finance.

T&T is currently facing a major forex crisis, a looming debt crisis and a private sector being strangled to death by red tape and government corruption.

Its clear Dr. Rowley intends to make "blame Covid," the new "blame Kamla.". This strategy might be good politics but it's a bad sign for all those of us who live in reality rather than political echo chambers.

It remains to be seen how much longer the government intends to use spin as a substitute for crafting real policy to spur real economic growth.

Sunlight may not kill Covid.

But incompetent governments can Kill economies.

Source: https://www.facebook.com/darryn.boodan/ ... 7687800023
The PNM can do what ever they like and the PNM ppl will lap it up .

Stupid country filled with stupid PNM people

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Re: Re: PNM in Gov't

Postby Dohplaydat » August 31st, 2020, 10:55 pm

zoom rader wrote:
The_Honourable wrote:Once again Dr. Rowley is using covid to rewrite history. The 15 Billion dollar "hole" in the economy he's talking about was not the result of Covid-its a hole dug by his government and his inept Minister of Finance.

T&T is currently facing a major forex crisis, a looming debt crisis and a private sector being strangled to death by red tape and government corruption.

Its clear Dr. Rowley intends to make "blame Covid," the new "blame Kamla.". This strategy might be good politics but it's a bad sign for all those of us who live in reality rather than political echo chambers.

It remains to be seen how much longer the government intends to use spin as a substitute for crafting real policy to spur real economic growth.

Sunlight may not kill Covid.

But incompetent governments can Kill economies.

Source: https://www.facebook.com/darryn.boodan/ ... 7687800023
The PNM can do what ever they like and the PNM ppl will lap it up .

Stupid country filled with stupid PNM people


PNM people will cheer and praise anything their great leader does. I've seen such acrobatics to justify their BS. While every party has blond supporters you have to admit UNC supporters are far more fickle and less blind than PNM supporters.

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Re: Re: PNM in Gov't

Postby Redman » September 1st, 2020, 7:39 am

zoom rader wrote:
pugboy wrote:totally unbelievable

zoom rader wrote:I still trying to understand when did the tourism market created $15 billion ?

Guess houses by the hour creating this ?
Redman please explain how tourism made 15billion .


Just ignore punctuation and inflection.

It would look, to the dotish like one idea, and the even more dotish run with it.

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Re: PNM in Gov't

Postby zoom rader » September 1st, 2020, 8:02 am

May be they counting on Carnival for that 15 Billion added in with the hotels

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Re: PNM in Gov't

Postby Lou Screuz » September 1st, 2020, 8:15 am

zoom rader wrote:May be they counting on Carnival for that 15 Billion added in with the hotels


:lol:

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Re: PNM in Gov't

Postby adnj » September 1st, 2020, 8:29 am

The unrecoverable economic loss is real and well within global estimates.

Trinidad has a GDP of US$24.1 Billion (2019). GDP contraction for Latin American countries is expected to be 7.2% in 2020 (US$1.74 Billion).

Incremental deferrals of credit interest and monetary policy spending are not included. Losses due to tourism are significant but not exclusive.

At issue is the shape of economic rebound in 2021 which may lead to a slower recapture of economic activity that would approximate a 2.4% loss of 2019 GDP (US$578 million).

Covid-19 losses are expected to total US$2.32 billion for 2020/21.

What is not discussed is the accelerated GDP growth that is likely to start in 3Q/4Q 2021.

You can find more info at the links.

https://tradingeconomics.com/trinidad-and-tobago/gdp

https://www.worldbank.org/en/news/featu ... nged-world
Last edited by adnj on September 1st, 2020, 8:29 am, edited 1 time in total.

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Re: Re: PNM in Gov't

Postby pugboy » September 1st, 2020, 8:35 am

how the experts know there will be accelerated growth in end of 2021?

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Re: PNM in Gov't

Postby elec2020 » September 1st, 2020, 8:59 am

adnj wrote:The unrecoverable economic loss is real and well within global estimates.

Trinidad has a GDP of US$24.1 Billion (2019). GDP contraction for Latin American countries is expected to be 7.2% in 2020 (US$1.74 Billion).

Incremental deferrals of credit interest and monetary policy spending are not included. Losses due to tourism are significant but not exclusive.

At issue is the shape of economic rebound in 2021 which may lead to a slower recapture of economic activity that would approximate a 2.4% loss of 2019 GDP (US$578 million).

Covid-19 losses are expected to total US$2.32 billion for 2020/21.

What is not discussed is the accelerated GDP growth that is likely to start in 3Q/4Q 2021.

You can find more info at the links.

https://tradingeconomics.com/trinidad-and-tobago/gdp

https://www.worldbank.org/en/news/featu ... nged-world


Please be careful of the websites u use to assess the domestoc economic environment. There are no official 2019 estimates for GDP by the CSO (the only institue that can publish statistics for TnT). Additionaly, GDP (adjusted for inflation) for 2018 from the CSO was around 158 million TT. This is significantly larger than what is quoted on trading economics. So again be careful on the data sources u use. Also (giving benefit of the doubt) i think u mean to say monetary policy to stimulate spending. Monetary policy targets inflation by changing interest rates and/or liquidity in the financial system. I haven't read the most recent global economic outlook, but like the world economic outlook (by imf) i am sure its estimates for economic recovery are optimistic. As we have seen so far the impact of tbis virus is more than originally anticipated. With rising job losses, business closures, food prices and less fiscal space (maybe covid fines will help the government make up oil revenue losses lol) it is my opinion that tnt will not recover (that is experience some level of positive economic growth) till 2023.

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Re: Re: PNM in Gov't

Postby pugboy » September 1st, 2020, 9:02 am

^^agreed

a lot of the CSO numbers and even what the govt uses in general are real basic estimates

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Re: Re: PNM in Gov't

Postby Redman » September 1st, 2020, 10:19 am

pugboy wrote:how the experts know there will be accelerated growth in end of 2021?


Statistically-Lies,Damn Lies and Statistics- the actual numbers will be lower-but the denominators will also be lower-so it will show a big swing-which looks good month to month even compared to last years numbers as we get to lock down months....but when you begin YoY comparisons it would be nowhere close to 2019 levels.

China is seeing big export growth-cuz the numbers over the last year were down big time.

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Re: PNM in Gov't

Postby adnj » September 1st, 2020, 11:42 am

elec2020 wrote:
adnj wrote:The unrecoverable economic loss is real and well within global estimates.

Trinidad has a GDP of US$24.1 Billion (2019). GDP contraction for Latin American countries is expected to be 7.2% in 2020 (US$1.74 Billion).

Incremental deferrals of credit interest and monetary policy spending are not included. Losses due to tourism are significant but not exclusive.

At issue is the shape of economic rebound in 2021 which may lead to a slower recapture of economic activity that would approximate a 2.4% loss of 2019 GDP (US$578 million).

Covid-19 losses are expected to total US$2.32 billion for 2020/21.

What is not discussed is the accelerated GDP growth that is likely to start in 3Q/4Q 2021.

You can find more info at the links.

https://tradingeconomics.com/trinidad-and-tobago/gdp

https://www.worldbank.org/en/news/featu ... nged-world


Please be careful of the websites u use to assess the domestoc economic environment. There are no official 2019 estimates for GDP by the CSO (the only institue that can publish statistics for TnT). Additionaly, GDP (adjusted for inflation) for 2018 from the CSO was around 158 million TT. This is significantly larger than what is quoted on trading economics. So again be careful on the data sources u use. Also (giving benefit of the doubt) i think u mean to say monetary policy to stimulate spending. Monetary policy targets inflation by changing interest rates and/or liquidity in the financial system. I haven't read the most recent global economic outlook, but like the world economic outlook (by imf) i am sure its estimates for economic recovery are optimistic. As we have seen so far the impact of tbis virus is more than originally anticipated. With rising job losses, business closures, food prices and less fiscal space (maybe covid fines will help the government make up oil revenue losses lol) it is my opinion that tnt will not recover (that is experience some level of positive economic growth) till 2023.


The GDP estimates that I typically refer to are CIA Factbook publication numbers.

Your GDP of TT$158 million cannot possibly be correct. Please review.

With respect to post-recessionary GDP recovery, there is a growth acceleration by definition.

In my experience, IMF inflation and growth numbers are never optimistic but rather the most likely outcome given the data available at the time. It is also quite normal for GDP to be adjusted after the fact with the most closely monitored world economies. It's is not atypical to see modifications six months later.

-----------

Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. In 2021 global growth is projected at 5.4 percent. Overall, this would leave 2021 GDP some 6½ percentage points lower than in the pre-COVID-19 projections of January 2020. The adverse impact on low-income households is particularly acute, imperiling the significant progress made in reducing extreme poverty in the world since the 1990s.

https://www.imf.org/en/Publications/WEO ... teJune2020

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Re: PNM in Gov't

Postby zoom rader » September 1st, 2020, 11:55 am

Figures quoting negative but folks fail to understand PNM responsible.

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Re: PNM in Gov't

Postby ek4ever » September 1st, 2020, 12:02 pm


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Re: PNM in Gov't

Postby elec2020 » September 1st, 2020, 12:19 pm

adnj wrote:
elec2020 wrote:
adnj wrote:The unrecoverable economic loss is real and well within global estimates.

Trinidad has a GDP of US$24.1 Billion (2019). GDP contraction for Latin American countries is expected to be 7.2% in 2020 (US$1.74 Billion).

Incremental deferrals of credit interest and monetary policy spending are not included. Losses due to tourism are significant but not exclusive.

At issue is the shape of economic rebound in 2021 which may lead to a slower recapture of economic activity that would approximate a 2.4% loss of 2019 GDP (US$578 million).

Covid-19 losses are expected to total US$2.32 billion for 2020/21.

What is not discussed is the accelerated GDP growth that is likely to start in 3Q/4Q 2021.

You can find more info at the links.

https://tradingeconomics.com/trinidad-and-tobago/gdp

https://www.worldbank.org/en/news/featu ... nged-world


Please be careful of the websites u use to assess the domestoc economic environment. There are no official 2019 estimates for GDP by the CSO (the only institue that can publish statistics for TnT). Additionaly, GDP (adjusted for inflation) for 2018 from the CSO was around 158 million TT. This is significantly larger than what is quoted on trading economics. So again be careful on the data sources u use. Also (giving benefit of the doubt) i think u mean to say monetary policy to stimulate spending. Monetary policy targets inflation by changing interest rates and/or liquidity in the financial system. I haven't read the most recent global economic outlook, but like the world economic outlook (by imf) i am sure its estimates for economic recovery are optimistic. As we have seen so far the impact of tbis virus is more than originally anticipated. With rising job losses, business closures, food prices and less fiscal space (maybe covid fines will help the government make up oil revenue losses lol) it is my opinion that tnt will not recover (that is experience some level of positive economic growth) till 2023.


The GDP estimates that I typically refer to are CIA Factbook publication numbers.

Your GDP of TT$158 million cannot possibly be correct. Please review.

With respect to post-recessionary GDP recovery, there is a growth acceleration by definition.

In my experience, IMF inflation and growth numbers are never optimistic but rather the most likely outcome given the data available at the time. It is also quite normal for GDP to be adjusted after the fact with the most closely monitored world economies. It's is not atypical to see modifications six months later.

-----------

Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. In 2021 global growth is projected at 5.4 percent. Overall, this would leave 2021 GDP some 6½ percentage points lower than in the pre-COVID-19 projections of January 2020. The adverse impact on low-income households is particularly acute, imperiling the significant progress made in reducing extreme poverty in the world since the 1990s.

https://www.imf.org/en/Publications/WEO ... teJune2020


https://cso.gov.tt/cso_statistics/gross ... nt-prices/. You can find the GDP statistic for 2018 there. The CIA factbook qoutes GDP for 2017 (their latest estimate) for tnt as 22.8 billion US. Whether u like it or not the official statistical body of tnt is the CSO. Their statistics are more accurate than anyone elses values for us as (for example) does CIA/Worldbank/IMF send a group of statisticians with domestic governance clearance to estimate GDP, unemployment, inflation, etc for the 195 countries in the world (they must have ALOT of statisticians then). So far for the G7, three members (US, Japan, UK) have recorded for june 2020 a 31 percent, 26 per cent and 20 per cent contraction in gdp. Given that it is anticipated that economic activity for the remainder of 2020 will continue to worsen as for example city centers lose money (work from home has meant less retail shopping) and countries have gone back into lockdown, it is my belief that the weo estimate for global growth was optimistic. While i get your point on the weo using all information available atthat point in time, the report was released in april and at that time many countries already went into lockdown. Any lockdown will have a significant impact on economic activity. The imf should know that. But they also have a responsibility to not incite panic. So, like every other institution, lied/downplayed the facts.

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