CB Governor says T&T officially in recession

[snatman]

So Southern Sales is the biggest auto dealer in the country??
I thought it would be massy..

[Allergic2BunnyEars]

So Southern Sales is the biggest auto dealer in the country??
I thought it would be massy..

Southern Sales owns part of Massy Motors.

[pugboy]

Pricesmart brings in at least 40 containers a month

[bluefete]

The government encourages foreign direct investment through these multinational corporations.

So they come here, set up operations and hire people.

The downside is 2fold; They use up massive amounts of foreign exchange to import goods into the country and any profits they make is exported out via more foreign exchange.

We have been in a recession for while and people would have been blind not to see that.

Talk to any small business person and you will realize that the state of our economy is shot to hell.

But politics will play semantics and dotish people will continue to believe them.

Wait until the true state of the economy comes out.

[Allergic2BunnyEars]

The government encourages foreign direct investment through these multinational corporations.

So they come here, set up operations and hire people.

The downside is 2fold; They use up massive amounts of foreign exchange to import goods into the country and any profits they make is exported out via more foreign exchange.

We have been in a recession for while and people would have been blind not to see that.

Talk to any small business person and you will realize that the state of our economy is shot to hell.

But politics will play semantics and dotish people will continue to believe them.

Wait until the true state of the economy comes out.

Official Spotters Thread made people not think we in recession.

[bluefete]

The government encourages foreign direct investment through these multinational corporations.

So they come here, set up operations and hire people.

The downside is 2fold; They use up massive amounts of foreign exchange to import goods into the country and any profits they make is exported out via more foreign exchange.

We have been in a recession for while and people would have been blind not to see that.

Talk to any small business person and you will realize that the state of our economy is shot to hell.

But politics will play semantics and dotish people will continue to believe them.

Wait until the true state of the economy comes out.

Official Spotters Thread made people not think we in recession.

There are none so blind as those who will not see.

[desifemlove]

The government encourages foreign direct investment through these multinational corporations.

So they come here, set up operations and hire people.

The downside is 2fold; They use up massive amounts of foreign exchange to import goods into the country and any profits they make is exported out via more foreign exchange.

We have been in a recession for while and people would have been blind not to see that.

Talk to any small business person and you will realize that the state of our economy is shot to hell.

But politics will play semantics and dotish people will continue to believe them.

Wait until the true state of the economy comes out.

you realise this is common in a globalised world?

what you suggest? T&T become a closed economy and have no foreign trade/investment?

provided firms provide employment, who cares if the profits "does go overseas"? You realise the USA relies a lot on FDI?

[pugboy]

x2

I could make a guess that 99% of folks here live well above the average income line

Official Spotters Thread made people not think we in recession.

[desifemlove]

ImageUploadedByTriniTuner1449243720.966036.jpg

Last quarter ended Sept 30, 21 days after PNM came into office, but the 4 quarters of recession is their fault.

those UNC retards never quit...

[zoom rader]

Cah believe ppl vote for this

The last quarter ended at the end of September. Low revenue prices, a contentious highway financed by cannibalized payments and a very long election campaign is responsible for this. Anyways, blaming really not helping. This is child's play when compared to 1983 when the price of oil went under 15 dollars a barrel. It tough, but we certainly not going to go through what we went through in the 80s

What sense is this???

This is a guy (Trinispougla) that does not vote and then wants to comment on politics.
He reminds me of all those ppl that cuss the free public heath services but does not pay any income taxes or health surcharges.

[desifemlove]

a brief guide to macroeconomics for UNC retards:

- economic policies take time to implement or achieved proper/desired results
- anything Rowley does cannot have effect in three months in office
- this is from taxation, to regulations, FDI incentives, inflation, FOREX policies, exchange rates, you name it
- the policies of UNC/Kams are still having an effect due to this, plus the oil price and wars in Syria that will change the price.
- PNM said they gonna lower tax for all people earnign under $6000. any effect on this won't be seen in a lil while, for example, not til mid-term (2017/18 maybe).

I suggest UNC retards not listen to what Kams or Roody or Vasant say as gospel, and pick up an econ book and read...if yuh ever managed to learn to read that is...

[pete]

Pricesmart brings in at least 40 containers a month

That's not a lot. You think every container of goods costs $1m USD?

Sent from my MotoG3 using Tapatalk

[pugboy]

Any link to the list of names the governor listed today ?

[Lance]

It depends on what they doing with what they borrow.

This is a very important point and it needs to be properly spelt out.

[Trinispougla]

Cah believe ppl vote for this

The last quarter ended at the end of September. Low revenue prices, a contentious highway financed by cannibalized payments and a very long election campaign is responsible for this. Anyways, blaming really not helping. This is child's play when compared to 1983 when the price of oil went under 15 dollars a barrel. It tough, but we certainly not going to go through what we went through in the 80s

What sense is this???

This is a guy (Trinispougla) that does not vote and then wants to comment on politics.
He reminds me of all those ppl that cuss the free public heath services but does not pay any income taxes or health surcharges.

Ah that is the difference patna. I do in fact pay taxes. And I did history so I am keenly aware of the politics not only of Trinidad but of the Caribbean and of what used to be Mesoamerica. Everybody knows that an election is a period of no economic activity for the public sector. Hence, it is wise to have short campaigns which is also why eyebrows were raised over the world when the longest election campaign in the history of the Commonwealth was announced. In addition we funded a developmental project from our own resources, once again probably the only country in the Latin american region to do so even though much richer countries like Brazil and Argentina have no shame in going to the IDB for developmental projects. I pay taxes so I think I'm at liberty to monitor how my money is spent

[EmilioA]

Cah believe ppl vote for this

ZR is now a parody of himself.

[Habit7]

Any link to the list of names the governor listed today ?

T&T in recession

BY: DARLISA GHOURALAL
09:50, December 4, 2015

Despite assurances from government that Trinidad and Tobago would not face a blue Christmas, today it was revealed that the country's economy is officially in a recession.

Central Bank Governor Jwala Rambarran gave the confirmation at the Central Bank’s Monetary Policy Forum this morning, in light of four consecutive quarters of decline in real GDP this year.

The country will begin to feel the effects as early as next month, the beginning of the new year.

In an attempt to stabilise the market, Rambarran says the Central Bank will provide a pre-announced schedule of its foreign exchange interventions to commercial banks throughout 2016.

Speaking on government’s last injection of US $500 million to clear the backlog of trade related queues, he says the Central Bank expected that the supply would be “devoured” as the demand for foreign currency has continued to increase.

Despite the reversion to the foreign exchange distribution system pre March 2014, the situation with the unavailability of foreign exchange has not improved.

Difficult times seem to lie ahead as the Central Bank Governor noted that energy exports are expected to decline by a whopping US $600 million next year, which would result in a drop in the country’s reserves.

Rambarran revealed that the retail/distribution market is the top user of foreign exchange. The most voracious consumers of foreign dollars over the last three years are PriceSmart: US $507 million, Courts: US $198 million, Smith Robertson: US $169 million, A S Bryden: US $153 million and Massy: $136 million.

The manufacturing sector is second highest user of foreign exchange over a three year period - Nestle: US $194 million and WITCO: US $129 million. Credit cards are the third highest users of foreign exchange, he says, with US $1.8 billion being used in the last three years.

The last time the country reportedly faced a recession was in 2012. Central Bank statistics at the time confirmed that T&T had entered a technical recession by the end of 2011.

Declines were registered across energy sub-sectors in the last three months of that year and declines continued into the first quarter of 2012. Crude oil and natural gas production also suffered significant declines.
http://www.looptt.com/content/tt-recession

[EmilioA]

Hang on.

Rambarran revealed that the retail/distribution market is the top user of foreign exchange. The most voracious consumers of foreign dollars over the last three years are PriceSmart: US $507 million, Courts: US $198 million, Smith Robertson: US $169 million, A S Bryden: US $153 million and Massy: $136 million.

The manufacturing sector is second highest user of foreign exchange over a three year period - Nestle: US $194 million and WITCO: US $129 million.

Credit cards are the third highest users of foreign exchange, he says, with US $1.8 billion being used in the last three years.

Wouldnt these figures make credit cards the largest consumers ? What I missing ?

[pugboy]

He probaby summed up all the big ones in the group eg pricesmart plus brydens plus courts etc

[desifemlove]

http://www.trinidadexpress.com/20150811 ... -recession Hmmmm......

[zoom rader]

http://www.trinidadexpress.com/20150811/business-magazine/howai-tt-not-anywhere-near-recession Hmmmm......

PNM style

[DVSTT]

Will house prices reach attainable levels?

[fokhan_96]

x2

I could make a guess that 99% of folks here live well above the average income line

Official Spotters Thread made people not think we in recession.

Nah I think the figure more like 99.9% . When you have men saying they rather drive a bull cart than a AD wagon or compare cheap tyres (triangle, nexen) to rubber slippers or make fun of anything cheap, you know they reach.

[niso]

The ANSA MCAL GROUP doesnt use Foreign Exhange ?

[shake d livin wake d dead]

so GATE,CEPEP,URP first to get buss head?? seems legit

all contract workers getting the booth

crime going up like wow

[Redman]

Will house prices reach attainable levels?

Not until the demand dries up.


And the grey economy slows.

Land is washing machine fadda

[shake d livin wake d dead]

Will house prices reach attainable levels?

Not until the demand dries up.


And the grey economy slows.

Land is washing machine fadda

building materials would be way cheaper when the recession really kick een

best time to build yuh house

[eurotuner]

Will house prices reach attainable levels?

Not until the demand dries up.


And the grey economy slows.

Land is washing machine fadda

building materials would be way cheaper when the recession really kick een

best time to build yuh house

This is the logic....but this also is Trinidad.

[zoom rader]

Will house prices reach attainable levels?

The short answer is NO as PNM increasing house tax will add valve to the market depending where you live or you will like to live

[mark2.0]

Question, should I keep meh two gul or leggo one?