HOW IS T&T'S ECONOMY FEARING?

[maj. tom]

Shouldn't you do a bit more research before posting things like this OP? UK, Canada... most of the world have a lot of socialized programmes facilitated through taxes. It's not socialism.

Mixed Economies
Many countries have mixed economic systems with elements of both capitalism and socialism. In the U.S., predominantly a capitalist system, there are many government-run programs, notably Social Security, Medicaid, and Medicare. In many socialist countries, as in Sweden, there are also still private businesses.

https://www.thebalancesmb.com/the-chara ... ism-393509



Cuba is Socialism.

Cuba has a planned economy dominated by state-run enterprises. Most industries are owned and operated by the government and most of the labor force is employed by the state. https://en.wikipedia.org/wiki/Economy_of_Cuba

[sMASH]

Rowers said that most of guvermnent spending was with wages and salaries.
Then u have things like urp and cepep, designed to create employment...


It's not socialist, but highly so.

[zoom rader]

We are in a dictatorship bro

[ProtonPowder]

In countries with lots of government benefits and subsidies, income taxes are generally high.

In TnT we have a low(ish) flat tax rate coupled with a good personal allowance before it kicks in, but we expecting blood from a stone. Trinidadians at large have a very poor work ethic and a nasty sense of entitlement. Public and private, indo and afro.

No government can change that, it have to come from the ground up AND from the top down.

[streetbeastINC.]

We are in a police state.

[airuma]

Please excuse my ignorance, my encounters with the terms socialist, communist, capitalist and populist have been solely news sources, then I researched what I heard. Never heard mixed economy in the news. Thanks for clearing that up.

[zoom rader]

We are in a police state.

Pretty soon more fines are coming.

Profit from every excuse with be mandated by the government.

Police and L.O will have daily quotas to achieve and they will be making bogus fines against you .

Folks need to start video recording when police and L.O interact with them . Post all on media , exposure will save folk from extorsion

[Miktay]

No such thing as pure socialism or capitalism just comparatively different mixes of the two systems.

[The_Honourable]

Shouldn't you do a bit more research before posting things like this OP? UK, Canada... most of the world have a lot of socialized programmes facilitated through taxes. It's not socialism.

Mixed Economies
Many countries have mixed economic systems with elements of both capitalism and socialism. In the U.S., predominantly a capitalist system, there are many government-run programs, notably Social Security, Medicaid, and Medicare. In many socialist countries, as in Sweden, there are also still private businesses.

https://www.thebalancesmb.com/the-chara ... ism-393509



Cuba is Socialism.

Cuba has a planned economy dominated by state-run enterprises. Most industries are owned and operated by the government and most of the labor force is employed by the state. https://en.wikipedia.org/wiki/Economy_of_Cuba

Well put maj.tom. OP the problem is that we have abuse on both ends of the spectrum.

One one end, due to outdated frameworks and poor/non-existent laws, some "Captalists" can exploit while others struggle to keep their business alive . Some capitalists work behind the scenes with politicians so that policies would go in their favor. When capitalists begin to control government, we move from Capitalism to Corporatism. We haven't reached there as yet but elements are present.

On the other end, we also have a welfare state but due to poor management and political interference every time a government changes, state-run programs and enterprises are inefficient and ineffective even during the "times of plenty". Billions have been wasted to the point many economists have been sounding the alarm on this.

Both ends need to be addressed so that our mixed economy can be successful. If we move more towards capitalism without addressing the problems, it can easily turn into corporatism which can eventually make socialism look attractive to the public. If the public swings there, and the socialist government goes too far, we'll end up like Venezuela.

[DMan7]

I think this deserves its own thread considering the situation post pandemic on the economy in T&T.

It's time to tighten your belts folks!

https://guardian.co.tt/business/finance-minister-admits-tt-in-economic-peril-6.2.1287877.1e61a7b24a

T&T, we have a problem.

We are not making nearly enough money to pay our bills.

In fact, we made almost $2 billion less than we expected to make by the end of January.

And if the trend continues, we may lose up to $5 billion in revenue for fiscal 2021. This figure does not include the expected $5 billion shortfall already predicted for fiscal 2021.

[ProtonPowder]

dude covid lmao
~Colm

[death365]

everything is being blamed on covid and not mis-management ... no Gross mis-management of the whole country. yeah oil down and gas and covid and blah blah blah but u are the govt and need to drive the country forward. thats the only job

2021 is shaping up to be worse than 1986 ... 2021>1986

Was posted in pmn thread but well worth repeating

[Rovin]

everything is being blamed on covid and not mis-management ... no Gross mis-management of the whole country. yeah oil down and gas and covid and blah blah blah but u are the govt and need to drive the country forward. thats the only job

2021 is shaping up to be worse than 1986 ... 2021>1986

Was posted in pmn thread but well worth repeating

well said

some of us already posted in other threads but i will repeat myself : mismanaging everything & using covid to justify teefin out d HSF little by little ...

[De Dragon]

Well that's LFDRFD PNM for you, run everything into ground, then blame Kamla, Covid, saboteurs,public servants.....

[Rovin]

doh forget jes 6 mths ago campaigning for elections we heard they managed d country so well dat we was on d way to prosperity

..... we hearing dat since 1956

[zoom rader]

This another red government failure chead

[viedcht]

Literally what he means

dude covid lmao
~Colm

[pugboy]

oh yes,
wish we could get footage of the imp saying that
i recall country well on its way to stability(saying this in midst of high covid numbers too)

doh forget jes 6 mths ago campaigning for elections we heard they managed d country so well dat we was on d way to prosperity

..... we hearing dat since 1956

[sMASH]

this is not 'news'. every body knows it, every body feeling it. making this statement at this time is a red distraction from the unrest the andrea death circus case raised up.

boi, f* he

[De Dragon]

oh yes,
wish we could get footage of the imp saying that
i recall country well on its way to stability(saying this in midst of high covid numbers too)

doh forget jes 6 mths ago campaigning for elections we heard they managed d country so well dat we was on d way to prosperity

..... we hearing dat since 1956

Only LFDRFD PNM flock members like Habit7 and Plastic believe that sheit, borrowing and taxing our way to prosperity

[death365]

This is setting up what coming in the mid year review... So if u think this bad what's coming worse.

[daxt0r]

everything is being blamed on covid and not mis-management ... no Gross mis-management of the whole country. yeah oil down and gas and covid and blah blah blah but u are the govt and need to drive the country forward. thats the only job

2021 is shaping up to be worse than 1986 ... 2021>1986

Was posted in pmn thread but well worth repeating

i does say i be the only one here with ah memory and like dem piss in tail farrin bloggers like Habit, redman, elec, etc don't know history.
Amm what was d red party da put we in that precarious economic position both times, yet ppl get buy weave and sperms, friends can get away with millions in stolen oil, a PNM stooge on every stage board milking and draining the treasury without audit, see NLCB, and so much more nepotism and corruption from blind as a bat failure eric williams to Tracy Celestine 2.5 million piece ah rope. Ent just wa dey impbutt say we well on the way to recovery in the height of c19? Tings switch so quick, is the fully dunce up RedNReady team he trying to fool, cuz who else believes him?

I find the only people that should have a vote in this country is those that paying PAYE and company/green/levy tax, everyone else should just stfu and let us who support the country economically decide its future not a set a fully dunce up folks. Da go be d day i vote for the first time, lol.
Run this country like a business and we might just have some hope

[dogg]

All this mismanagement talk... what could this or any government have done to buffer the economy??

And, which developing country thrived during the pandemic? Any?

Its easy to condemn whatever party's in power, but really and truly, we would be in the same shite creek, with either til yuh dead party in power.

[sMASH]

not fire so many people, not buy so much dumb shizz

[ScHoolboySoloQ]

All this mismanagement talk... what could this or any government have done to buffer the economy??

And, which developing country thrived during the pandemic? Any?

Its easy to condemn whatever party's in power, but really and truly, we would be in the same shite creek, with either til yuh dead party in power.

Not get the Dutch disease.

[paid_influencer]

All this mismanagement talk... what could this or any government have done to buffer the economy??

And, which developing country thrived during the pandemic? Any?

Its easy to condemn whatever party's in power, but really and truly, we would be in the same shite creek, with either til yuh dead party in power.

the bad policy started all the way back in 2015. Look at the government's 2020 campaign manifesto and you'll see many reversals of their initial policy decisions. Completely dotish policies like withholding VAT refunds from small and medium businesses.

And here's the big picture: under past PNM administrations, the vision was to bring every man jack into being part of the world economy. All the layers of economic isolation on the island (local currency restrictions, taxation to benefit local companies, monopoly producers being the norm) would be torn down, so every worker and every company would by force have to stand in an open and competitive economy.

Manning was the one who made severely tough decisions - floating the dollar, allowing locals to have US$ denominated accounts, allowing the unrestricted conversion of currency, and allowing free movement of the capital thereafter. All those things - which MANNING put his political life on the line to do -- were risky AF but necessary to make us part of the global economy. Everybody from my generation benefited from these policy changes.

Now we have Rowley coming in, and he is turning back the clock on PNM policy. ALL those layers of economic isolation are returning and worse so. The average man in the street - far from being part of the global economy - can't even buy $100 USD at the bank. Only the networked elite is allowed to participate in the global economy and the rest of us on the island have to work for them. We are paid in local island currency, which can only be spent at local island businesses owned by the above networked elite. It is hardcore banana-republic economics passing as policy right now.

[zoom rader]

All this mismanagement talk... what could this or any government have done to buffer the economy??

And, which developing country thrived during the pandemic? Any?

Its easy to condemn whatever party's in power, but really and truly, we would be in the same shite creek, with either til yuh dead party in power.

the bad policy started all the way back in 2015. Look at the government's 2020 campaign manifesto and you'll see many reversals of their initial policy decisions. Completely dotish policies like withholding VAT refunds from small and medium businesses.

And here's the big picture: under past PNM administrations, the vision was to bring every man jack into being part of the world economy. All the layers of economic isolation on the island (local currency restrictions, taxation to benefit local companies, monopoly producers being the norm) would be torn down, so every worker and every company would by force have to stand in an open and competitive economy.

Manning was the one who made severely tough decisions - floating the dollar, allowing locals to have US$ denominated accounts, allowing the unrestricted conversion of currency, and allowing free movement of the capital thereafter. All those things - which MANNING put his political life on the line to do -- were risky AF but necessary to make us part of the global economy. Everybody from my generation benefited from these policy changes.

Now we have Rowley coming in, and he is turning back the clock on PNM policy. ALL those layers of economic isolation are returning and worse so. The average man in the street - far from being part of the global economy - can't even buy $100 USD at the bank. Only the networked elite is allowed to participate in the global economy and the rest of us on the island have to work for them. We are paid in local island currency, which can only be spent at local island businesses owned by the above networked elite. It is hardcore banana-republic economics passing as policy right now.

Rowlee is creating an islands of store clerks and waiters.

It's near slavery,

Its all gone, a skilled workforce, education and jobs.

[sMASH]

That's PEA talk.

[Redress10]

All this mismanagement talk... what could this or any government have done to buffer the economy??

And, which developing country thrived during the pandemic? Any?

Its easy to condemn whatever party's in power, but really and truly, we would be in the same shite creek, with either til yuh dead party in power.

the bad policy started all the way back in 2015. Look at the government's 2020 campaign manifesto and you'll see many reversals of their initial policy decisions. Completely dotish policies like withholding VAT refunds from small and medium businesses.

And here's the big picture: under past PNM administrations, the vision was to bring every man jack into being part of the world economy. All the layers of economic isolation on the island (local currency restrictions, taxation to benefit local companies, monopoly producers being the norm) would be torn down, so every worker and every company would by force have to stand in an open and competitive economy.

Manning was the one who made severely tough decisions - floating the dollar, allowing locals to have US$ denominated accounts, allowing the unrestricted conversion of currency, and allowing free movement of the capital thereafter. All those things - which MANNING put his political life on the line to do -- were risky AF but necessary to make us part of the global economy. Everybody from my generation benefited from these policy changes.

Now we have Rowley coming in, and he is turning back the clock on PNM policy. ALL those layers of economic isolation are returning and worse so. The average man in the street - far from being part of the global economy - can't even buy $100 USD at the bank. Only the networked elite is allowed to participate in the global economy and the rest of us on the island have to work for them. We are paid in local island currency, which can only be spent at local island businesses owned by the above networked elite. It is hardcore banana-republic economics passing as policy right now.

But you do have access to foreign currency. Go take a look at the food you buy, the clothing you wear and the car that you drive. That didn't come from TT dollars. Those things were imported using valuable forex. You feel all those supermarkets with shelves filled with foreign goods were bought with TT dollars? Lmao.

The local man can't get USD because the country simply don't have any. You export nothing significant. How can you get usd if the country isn't selling a good or service to be paid usd by?

You work for TT yet everything that you need to buy to survive in this world is paid for in usd. That making economic sense?

[zoom rader]

A very disrespectful Imps-bert

Again UNC not in power nor are they important at this stage

F

inance Minister Colm Imbert’s statement yesterday, which painted a grim picture of this country’s economy, was nothing more than a “cheap distraction” to take away from the ongoing national outrage caused by the murder of Andrea Bharatt, economist Marla Dukharan said.

Dukharan commented yesterday on the situation in response to a question from Guardian Media seeking her view on Imbert’s report of serious economic challenges facing the country.

“Nothing the Minister of Finance said today even begins to address the long-standing, fundamental issues our country faces,” Dukharan stated.

“As far as I am concerned, economics only matters in so far as it speaks to social outcomes, and socially, T&T is an absolutely perilous state. Yet, nothing was said on this matter,” she said.


Dukharan said in her view to comment on Imbert’s statement would be discourteous to Bharatt.

“In my view, to comment on this statement is to disrespect Andrea Bharatt, to disregard the primacy of her murder and the culture of impunity that rewards criminals and terrorizes the rest of us in T&T, and to support the usual distraction agenda of this and successive Governments which are absolutely bereft of solutions,” Dukharan stated.

Dukharan added there are serious questions surrounding Bharatt’s murder and a possible link to the judiciary.

“For our Government to issue any statement at this time, which does not address these fundamental issues, is an insult, is a cheap attempt at distraction, and is ultimately an admission of failure,” she said