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Economist: The country is almost broke

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Re: Economist: The country is almost broke

Postby elec2020 » April 12th, 2021, 2:05 pm

Habit7 wrote:I realise on this forum ppl don't like when you use too many facts on an issue to make your opinion. They act like you are cheating or something.

They should be able to spew whatever unfounded notion they have on a subject and if you refute them with fact or authority in the area they get vex.


EXACTLY!!!!

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Re: Economist: The country is almost broke

Postby MaxPower » April 12th, 2021, 2:06 pm

Habit7 wrote:I realise on this forum ppl don't like when you use too many facts on an issue to make your opinion. They act like you are cheating or something.

They should be able to spew whatever unfounded notion they have on a subject and if you refute them with fact or authority in the area they get vex.


Hello Habit7,

That is correct.

Truth and Reality is very hard to accept from many.

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Re: Economist: The country is almost broke

Postby Dohplaydat » April 12th, 2021, 2:13 pm

Habit7 wrote:I realise on this forum ppl don't like when you use too many facts on an issue to make your opinion. They act like you are cheating or something.

They should be able to spew whatever unfounded notion they have on a subject and if you refute them with fact or authority in the area they get vex.


Habit7,

What the facts and reality of our situation? Are we in economic peril?

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Re: Economist: The country is almost broke

Postby De Dragon » April 12th, 2021, 2:15 pm

Habit7 wrote:I realise on this forum ppl don't like when you use too many facts on an issue to make your opinion. They act like you are cheating or something.

They should be able to spew whatever unfounded notion they have on a subject and if you refute them with fact or authority in the area they get vex.

The need to question people who lie almost like a reflex action and not swallow everything poured into you craw is "not accepting facts"? Just a few weeks ago Impsy was crying the economy in trouble as justification to raid the HSF. What miracle in the economy suddenly supports 2% growth?
When Moody's IIRC, downgraded our rating, wasn't Impsy leading the "who's dem?" charge? Now that the IMF giving a rosy outlook, they are to be believed without question?

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Re: Economist: The country is almost broke

Postby Habit7 » April 12th, 2021, 2:20 pm

Sometimes, I does need a good break from allyuh because all that you all are doing is demostrating what I just talked about.

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Re: Economist: The country is almost broke

Postby zoom rader » April 12th, 2021, 2:23 pm

Habit7 wrote:I realise on this forum ppl don't like when you use too many facts on an issue to make your opinion. They act like you are cheating or something.

They should be able to spew whatever unfounded notion they have on a subject and if you refute them with fact or authority in the area they get vex.
What facts?

You keep posting stories written by red government agents and you expect right thinking people to take that as truth

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Re: Economist: The country is almost broke

Postby zoom rader » April 12th, 2021, 2:24 pm

Habit7 wrote:Sometimes, I does need a good break from allyuh because all that you all are doing is demostrating what I just talked about.
What break ?

When posters expose your lies and spin then move the goal post

You full ah 5hit

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Re: Economist: The country is almost broke

Postby De Dragon » April 12th, 2021, 2:26 pm

Habit7 wrote:Sometimes, I does need a good break from allyuh because all that you all are doing is demostrating what I just talked about.

It's adorable that you feel that you're taking a break from us :wink:

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Re: Economist: The country is almost broke

Postby elec2020 » April 12th, 2021, 2:44 pm

the imf predicted that we will grow. doesn't mean it will happen. i think they predicted that we would contract by 5 or 6 per cent in 2020 in their WEO for March 2020. i personally fell the contraction will be more than that but we will only see those numbers i guess in the review of the economy later this year

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Re: Economist: The country is almost broke

Postby De Dragon » April 12th, 2021, 3:04 pm

elec2020 wrote:the imf predicted that we will grow. doesn't mean it will happen. i think they predicted that we would contract by 5 or 6 per cent in 2020 in their WEO for March 2020. i personally fell the contraction will be more than that but we will only see those numbers i guess in the review of the economy later this year

I hope you mean a non LFD RFD PNM review!

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Re: Economist: The country is almost broke

Postby elec2020 » April 12th, 2021, 3:11 pm

every body who is in power will draft a report that makes them look good.

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Re: Economist: The country is almost broke

Postby Dohplaydat » April 12th, 2021, 3:14 pm

elec2020 wrote:the imf predicted that we will grow. doesn't mean it will happen. i think they predicted that we would contract by 5 or 6 per cent in 2020 in their WEO for March 2020. i personally fell the contraction will be more than that but we will only see those numbers i guess in the review of the economy later this year


Growth is still relative.... Long term we in a great level of sheit. And this time there's no way out.

We squandered away billions in vanity projects and corruption.

Time to ride out.

Also, elec as a student of Econ this is what I assumed you knew.
Screenshot_20210412_150703.jpg

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Re: Economist: The country is almost broke

Postby adnj » April 12th, 2021, 3:25 pm

Dohplaydat wrote:
adnj wrote:
Dohplaydat wrote:
adnj wrote:
Dohplaydat wrote:
adnj wrote:
Dohplaydat wrote:
Redress10 wrote:6 months of the year is hurricane season. As we tend to sit outside the hurricane belt all sort of pleasure craft and marine vessels could be stored here for a fee. Even tourist cud come here knowing that chances of getting stuck in a hurricane are slim.

Do we take advantage of this? Nope.

Do we even care? Nobody wants to do the work but everybody want to eat and drive the best. Where will the money come from?


Tobago is also a safe haven for hurricanes, them missing out on so much tourism dollars by not having one.
No comparison to Aruba, Curacao and Bonaire.


Still worth doing, look how many yachts are docked here in Chaguaramas.

ABC islands aren't that much safer than us:

Image



The Gulf of Paria is a protected body of water. Tobago is not near the coast while Aruba, Curacao and Bonaire are.

Tobago does not offer the geography to shelter a vessel more than 30 feet long during a storm.


Again you are wrong.

Canoe Bay was identified by coastal engineers as the proposed site for construction, it just never got off the ground. If a noteworthy storm is approaching these same yachties who store their boats in Chagauaramas during hurricane season can more easily move their boats from Tobago to Chaguaramas.

The fact is there is a huge demand for a marina in Tobago and we are falling asleep on its potential.


If it isn't being built then you should recognize that the demand is insufficient but you keep flogging that horse all you want.


It is being built - https://newsday.co.tt/2018/11/17/marina ... ay-tobago/
Then I was wrong.

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Re: Economist: The country is almost broke

Postby KM_2NR » April 12th, 2021, 3:30 pm

Worst case scenario what happens to the country? We end up like our neighbor venezuela or haiti? or go full Max Max vibes!

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Re: Economist: The country is almost broke

Postby elec2020 » April 12th, 2021, 3:35 pm

Dohplaydat wrote:
elec2020 wrote:the imf predicted that we will grow. doesn't mean it will happen. i think they predicted that we would contract by 5 or 6 per cent in 2020 in their WEO for March 2020. i personally fell the contraction will be more than that but we will only see those numbers i guess in the review of the economy later this year


Growth is still relative.... Long term we in a great level of sheit. And this time there's no way out.

We squandered away billions in vanity projects and corruption.

Time to ride out.

Also, elec as a student of Econ this is what I assumed you knew.
Screenshot_20210412_150703.jpg


i agree with your points. we are in a mess after years of partying and claims that the most High is a trini. smh. now we have little wiggle room again. i still believe by 2030-2035 we will by then require interventions from those who must not be named. also, i respect that you trying to make amends on my knowledge in the subject area. at times these convos can get heated. but end of the day we both want what is best for tnt. which involves better enlightening the masses on the many-ills that will be our undoing unless we get it right at the GEs. which i doubt given that i am yet to see a real third party to challenge the PNM and UNC. but who knows. maybe PDP might branch out to Trinidad

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Re: Economist: The country is almost broke

Postby Dohplaydat » April 12th, 2021, 9:40 pm

elec2020 wrote:
Dohplaydat wrote:
elec2020 wrote:the imf predicted that we will grow. doesn't mean it will happen. i think they predicted that we would contract by 5 or 6 per cent in 2020 in their WEO for March 2020. i personally fell the contraction will be more than that but we will only see those numbers i guess in the review of the economy later this year


Growth is still relative.... Long term we in a great level of sheit. And this time there's no way out.

We squandered away billions in vanity projects and corruption.

Time to ride out.

Also, elec as a student of Econ this is what I assumed you knew.
Screenshot_20210412_150703.jpg


i agree with your points. we are in a mess after years of partying and claims that the most High is a trini. smh. now we have little wiggle room again. i still believe by 2030-2035 we will by then require interventions from those who must not be named. also, i respect that you trying to make amends on my knowledge in the subject area. at times these convos can get heated. but end of the day we both want what is best for tnt. which involves better enlightening the masses on the many-ills that will be our undoing unless we get it right at the GEs. which i doubt given that i am yet to see a real third party to challenge the PNM and UNC. but who knows. maybe PDP might branch out to Trinidad


Lol PDP anyday over UNC and PNM.

But I suspect it will be much sooner than 2030-35

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Re: Economist: The country is almost broke

Postby zoom rader » April 12th, 2021, 9:55 pm

Dohplaydat wrote:
elec2020 wrote:
Dohplaydat wrote:
elec2020 wrote:the imf predicted that we will grow. doesn't mean it will happen. i think they predicted that we would contract by 5 or 6 per cent in 2020 in their WEO for March 2020. i personally fell the contraction will be more than that but we will only see those numbers i guess in the review of the economy later this year


Growth is still relative.... Long term we in a great level of sheit. And this time there's no way out.

We squandered away billions in vanity projects and corruption.

Time to ride out.

Also, elec as a student of Econ this is what I assumed you knew.
Screenshot_20210412_150703.jpg


i agree with your points. we are in a mess after years of partying and claims that the most High is a trini. smh. now we have little wiggle room again. i still believe by 2030-2035 we will by then require interventions from those who must not be named. also, i respect that you trying to make amends on my knowledge in the subject area. at times these convos can get heated. but end of the day we both want what is best for tnt. which involves better enlightening the masses on the many-ills that will be our undoing unless we get it right at the GEs. which i doubt given that i am yet to see a real third party to challenge the PNM and UNC. but who knows. maybe PDP might branch out to Trinidad


Lol PDP anyday over UNC and PNM.

But I suspect it will be much sooner than 2030-35
The red government MPs and Panama have an understanding. When the 5hit hits the fan it's Panama they gone.

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Re: Economist: The country is almost broke

Postby Habit7 » April 15th, 2021, 5:27 pm

UWI economist: Don't create self-fulfilling prophecy on forex
RACHAEL ESPINET 7 HRS AGO


Dr Dave Seerattan, economist at UWI, St Augustine, told Business Day in an interview on Monday that he is always apprehensive when speaking to the media about the depreciation of the TT dollar, mostly because people panic when they read such news and, like a self-fulfilling prophecy, do something to cause the dollar to drop.

"The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment.

“A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

"The Minister of Finance is aware of all the different moving parts in the economy...But the economy is complex, and just saying depreciating the rate is going to solve our problems does not appreciate the complexities and the trade-off that you have on the policy."

The government, Seerattan said, has been making a "huge effort" to reduce the fiscal imbalances. These include raising revenues through taxation and cutting government expenditure. Closing Petrotrin and restructuring WASA were also among actions taken.

While necessary, he said, people are losing their jobs, and those in the lower socio-economic brackets experience the brunt of the financial strain.

Rationing forex was another way the government tried to control the exchange rate. The Central Bank will give guidance to banks and authorised forex traders on how much to ration.

"They have rationed the supply of foreign exchange to the business community and consumers; that has been one way in which they have managed the huge challenge we have with the diminishing foreign-exchange earning.”

That rationing, however, affects small and medium businesses.

“We’re seeing a lot of medium and small businesses claiming they are not getting their foreign exchange supply in a way that allows them to transact their business efficiently.”

A decrease in the variety of imported products is another unintended consequence of rationing, because merchants are trying to reduce the amount they spend on products. The variety of cereal, for example, he noticed, has decreased in supermarkets.


UWI economist Dr Dave Seeratan says people think currency depreciation would solve all the country's financial problems but no one policy can do that. - Photo by Jeff K Mayers
"It is one of the moves we need to take, because the fiscal deficit is relatively large, and that has consequences for debt shortage of foreign exchange in the market and a whole host of other problems. I would more characterise it as something that is necessary and we have to do."

Right now, TT is spending more money than earning. Cutting expenditure has a negative short-term impact on growth, but by cutting government expenditure, in the long term, by dealing with these problems, there will be more security for the economy.

However, Seerattan thinks TT is close to a stage where if the government reduces expenditure any more, it will be counterproductive to growth.

"That is why the government has to think about alternative policy measures to deal with some of the imbalances we have with the external account."

Seerattan said the foreign exchange rate is also affected by consumer behaviour and can be negatively affected by emotion and fear. He said if economists predict a certain rate, people would do things to push the rate to that number.

One of the ways the TT dollar could depreciate based on public behaviour is by people preferring to keep their money in US dollars and open US-dollar bank accounts than save their money in TT dollars.

"The reason why people have that belief is that they want to hold it in US dollars because they are fearful of depreciation. If you are holding TT dollars and the next morning the exchange rate decreases by 20 per cent, the value of your wealth reduces by 20 per cent, but if you have it in US dollars, that protects you against that."

The other thing that incentivises people to have US assets over TT is that the rate of return is almost equivalent.

"If you have a deposit in US dollars, you are getting a little less than one per cent. If you have an account at a local bank you'll get one per cent. So if you have two types of deposits, given the fear they have of depreciation..."

He said the rate is highly controlled by Central Bank and the government. As part of an agreement with the International Monetary Fund, the government has to declare what the exchange rate is.

The country, Seerattan said, is not in a crisis situation or near a forex shortage.

"By any metrics, our foreign reserves is adequate to meet current demands. A crisis is when you can't afford to buy medicine and food and meet international obligations.

"If we were at that point, we would have to go to the IMF, cap in hand, to ask for a loan. The point of our foreign exchange reserves is (US) $6.8 billion plus the reserves we have in the Heritage and Stabilisation Fund. We are not close to crisis, yet.

"But if we continue as we are, we are eventually going to run down our reserve to a point where we would have to go to the IMF to seek support."

He said where people get the "sky is falling" feeling comes from comparing the country's economy to what it was like in 2005, 2006 and 2007. In those years, the GDP growth rate was 6.2 per cent, 13.2 per cent and 4.8 per cent respectively.

"If you want to get a good indicator of this thing, you have to compare where we are now to where we were in 1981, when we were in a similar shock."

Between 1974 and 1981 the country had an average annual GDP growth of 5.5 per cent, but it shrank between 1982 and 1987. As in the past five years, the government cut spending, slashed public-sector salaries and put higher taxes on imports to restrict buying. This was on the advice of the IMF. The country devalued the currency as well.

Seerattan warned media institutions to be careful in reporting about the economy and the forex situation and not to perpetuate a doom-and-gloom outlook.

"Communication is very important. You could actually accentuate the problem, and you have to be careful how you communicate these ideas to people. We have to think rationally. The only way to deal with the hysteria is to confront the hysteria with facts.


https://newsday.co.tt/2021/04/15/uwi-ec ... -on-forex/

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Re: Economist: The country is almost broke

Postby zoom rader » April 15th, 2021, 5:46 pm

Habit7 wrote:UWI economist: Don't create self-fulfilling prophecy on forex
RACHAEL ESPINET 7 HRS AGO


Dr Dave Seerattan, economist at UWI, St Augustine, told Business Day in an interview on Monday that he is always apprehensive when speaking to the media about the depreciation of the TT dollar, mostly because people panic when they read such news and, like a self-fulfilling prophecy, do something to cause the dollar to drop.

"The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment.

“A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

"The Minister of Finance is aware of all the different moving parts in the economy...But the economy is complex, and just saying depreciating the rate is going to solve our problems does not appreciate the complexities and the trade-off that you have on the policy."

The government, Seerattan said, has been making a "huge effort" to reduce the fiscal imbalances. These include raising revenues through taxation and cutting government expenditure. Closing Petrotrin and restructuring WASA were also among actions taken.

While necessary, he said, people are losing their jobs, and those in the lower socio-economic brackets experience the brunt of the financial strain.

Rationing forex was another way the government tried to control the exchange rate. The Central Bank will give guidance to banks and authorised forex traders on how much to ration.

"They have rationed the supply of foreign exchange to the business community and consumers; that has been one way in which they have managed the huge challenge we have with the diminishing foreign-exchange earning.”

That rationing, however, affects small and medium businesses.

“We’re seeing a lot of medium and small businesses claiming they are not getting their foreign exchange supply in a way that allows them to transact their business efficiently.”

A decrease in the variety of imported products is another unintended consequence of rationing, because merchants are trying to reduce the amount they spend on products. The variety of cereal, for example, he noticed, has decreased in supermarkets.


UWI economist Dr Dave Seeratan says people think currency depreciation would solve all the country's financial problems but no one policy can do that. - Photo by Jeff K Mayers
"It is one of the moves we need to take, because the fiscal deficit is relatively large, and that has consequences for debt shortage of foreign exchange in the market and a whole host of other problems. I would more characterise it as something that is necessary and we have to do."

Right now, TT is spending more money than earning. Cutting expenditure has a negative short-term impact on growth, but by cutting government expenditure, in the long term, by dealing with these problems, there will be more security for the economy.

However, Seerattan thinks TT is close to a stage where if the government reduces expenditure any more, it will be counterproductive to growth.

"That is why the government has to think about alternative policy measures to deal with some of the imbalances we have with the external account."

Seerattan said the foreign exchange rate is also affected by consumer behaviour and can be negatively affected by emotion and fear. He said if economists predict a certain rate, people would do things to push the rate to that number.

One of the ways the TT dollar could depreciate based on public behaviour is by people preferring to keep their money in US dollars and open US-dollar bank accounts than save their money in TT dollars.

"The reason why people have that belief is that they want to hold it in US dollars because they are fearful of depreciation. If you are holding TT dollars and the next morning the exchange rate decreases by 20 per cent, the value of your wealth reduces by 20 per cent, but if you have it in US dollars, that protects you against that."

The other thing that incentivises people to have US assets over TT is that the rate of return is almost equivalent.

"If you have a deposit in US dollars, you are getting a little less than one per cent. If you have an account at a local bank you'll get one per cent. So if you have two types of deposits, given the fear they have of depreciation..."

He said the rate is highly controlled by Central Bank and the government. As part of an agreement with the International Monetary Fund, the government has to declare what the exchange rate is.

The country, Seerattan said, is not in a crisis situation or near a forex shortage.

"By any metrics, our foreign reserves is adequate to meet current demands. A crisis is when you can't afford to buy medicine and food and meet international obligations.

"If we were at that point, we would have to go to the IMF, cap in hand, to ask for a loan. The point of our foreign exchange reserves is (US) $6.8 billion plus the reserves we have in the Heritage and Stabilisation Fund. We are not close to crisis, yet.

"But if we continue as we are, we are eventually going to run down our reserve to a point where we would have to go to the IMF to seek support."

He said where people get the "sky is falling" feeling comes from comparing the country's economy to what it was like in 2005, 2006 and 2007. In those years, the GDP growth rate was 6.2 per cent, 13.2 per cent and 4.8 per cent respectively.

"If you want to get a good indicator of this thing, you have to compare where we are now to where we were in 1981, when we were in a similar shock."

Between 1974 and 1981 the country had an average annual GDP growth of 5.5 per cent, but it shrank between 1982 and 1987. As in the past five years, the government cut spending, slashed public-sector salaries and put higher taxes on imports to restrict buying. This was on the advice of the IMF. The country devalued the currency as well.

Seerattan warned media institutions to be careful in reporting about the economy and the forex situation and not to perpetuate a doom-and-gloom outlook.

"Communication is very important. You could actually accentuate the problem, and you have to be careful how you communicate these ideas to people. We have to think rationally. The only way to deal with the hysteria is to confront the hysteria with facts.


https://newsday.co.tt/2021/04/15/uwi-ec ... -on-forex/
Probably paid by the red governmen to create that fiction.

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Re: Economist: The country is almost broke

Postby paid_influencer » April 15th, 2021, 6:42 pm

^ remember, we have a floating exchange rate.

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Re: Economist: The country is almost broke

Postby Dohplaydat » April 15th, 2021, 7:46 pm

paid_influencer wrote:^ remember, we have a floating exchange rate.


Fixed floating, i wonder what would be the consequence of having it truly floating.

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Re: Economist: The country is almost broke

Postby paid_influencer » April 15th, 2021, 8:02 pm

Dohplaydat wrote:
paid_influencer wrote:^ remember, we have a floating exchange rate.


Fixed floating, i wonder what would be the consequence of having it truly floating.


they could move it tomorrow if they want

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Re: Economist: The country is almost broke

Postby paid_influencer » April 15th, 2021, 8:03 pm

zoom rader wrote:Probably paid by the red governmen to create that fiction.


I wonder if Maduro has Venezuelan economists that pat him on the back and hail his economic genius

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Re: Economist: The country is almost broke

Postby zoom rader » April 15th, 2021, 8:36 pm

paid_influencer wrote:
zoom rader wrote:Probably paid by the red governmen to create that fiction.


I wonder if Maduro has Venezuelan economists that pat him on the back and hail his economic genius
We are destined to become the next Venezuela.

Vene distroyed all their industry industries here the red government distroyed Pt lisas and Petrotrin .

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Re: Economist: The country is almost broke

Postby zoom rader » April 16th, 2021, 7:18 am

FINANCE Minister Colm Imbert agreed on Thursday agreed with views expressed by UWI economist Dr Dave Seerattan about foreign exchange.

Seerattan's views were reported in Newsday's Business Day magazine.

In a tweet, Imbert said, "Just read an article on TT economics, in the Business Newsday. An interview with Dr Dave Seerattan, a UWI economist." He added, "His views on growth, forex (foreign exchange), expenditure levels etc are a breath of fresh air – balanced, sensible and relevant. Amazed that such views exist there."

In the article, Seerattan said, "The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment. “A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

https://newsday.co.tt/2021/04/15/imbert ... -on-forex/

Yep, Just we thought this nasty injun is on the red government pay role

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Re: Economist: The country is almost broke

Postby De Dragon » April 16th, 2021, 7:33 am

zoom rader wrote:
FINANCE Minister Colm Imbert agreed on Thursday agreed with views expressed by UWI economist Dr Dave Seerattan about foreign exchange.

Seerattan's views were reported in Newsday's Business Day magazine.

In a tweet, Imbert said, "Just read an article on TT economics, in the Business Newsday. An interview with Dr Dave Seerattan, a UWI economist." He added, "His views on growth, forex (foreign exchange), expenditure levels etc are a breath of fresh air – balanced, sensible and relevant. Amazed that such views exist there."

In the article, Seerattan said, "The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment. “A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

https://newsday.co.tt/2021/04/15/imbert ... -on-forex/

Yep, Just we thought this nasty injun is on the red government pay role

Part of Impsy's continuing narrow minded perspective of only agreeing with optimistic views, and labelling all others as "agendas" and "UNC" even when everyone can see we're in a hot mess, and always will be once LFD RFD PNM don't listen to other views.

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Re: Economist: The country is almost broke

Postby zoom rader » April 16th, 2021, 8:27 am

De Dragon wrote:
zoom rader wrote:
FINANCE Minister Colm Imbert agreed on Thursday agreed with views expressed by UWI economist Dr Dave Seerattan about foreign exchange.

Seerattan's views were reported in Newsday's Business Day magazine.

In a tweet, Imbert said, "Just read an article on TT economics, in the Business Newsday. An interview with Dr Dave Seerattan, a UWI economist." He added, "His views on growth, forex (foreign exchange), expenditure levels etc are a breath of fresh air – balanced, sensible and relevant. Amazed that such views exist there."

In the article, Seerattan said, "The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment. “A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

https://newsday.co.tt/2021/04/15/imbert ... -on-forex/

Yep, Just we thought this nasty injun is on the red government pay role

Part of Impsy's continuing narrow minded perspective of only agreeing with optimistic views, and labelling all others as "agendas" and "UNC" even when everyone can see we're in a hot mess, and always will be once LFD RFD PNM don't listen to other views.
It is clear to see that this UWI idiot is on the red government pay role.

This is what they do pay for aset mis leading articles and fables to fool a population

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Re: Economist: The country is almost broke

Postby De Dragon » April 16th, 2021, 12:55 pm

zoom rader wrote:
De Dragon wrote:
zoom rader wrote:
FINANCE Minister Colm Imbert agreed on Thursday agreed with views expressed by UWI economist Dr Dave Seerattan about foreign exchange.

Seerattan's views were reported in Newsday's Business Day magazine.

In a tweet, Imbert said, "Just read an article on TT economics, in the Business Newsday. An interview with Dr Dave Seerattan, a UWI economist." He added, "His views on growth, forex (foreign exchange), expenditure levels etc are a breath of fresh air – balanced, sensible and relevant. Amazed that such views exist there."

In the article, Seerattan said, "The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment. “A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

https://newsday.co.tt/2021/04/15/imbert ... -on-forex/

Yep, Just we thought this nasty injun is on the red government pay role

Part of Impsy's continuing narrow minded perspective of only agreeing with optimistic views, and labelling all others as "agendas" and "UNC" even when everyone can see we're in a hot mess, and always will be once LFD RFD PNM don't listen to other views.
It is clear to see that this UWI idiot is on the red government pay role.

This is what they do pay for aset mis leading articles and fables to fool a population

Yet in the most glaring of absurdities, Impsy himself said we were in economic strife just recently.

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Re: Economist: The country is almost broke

Postby zoom rader » April 16th, 2021, 1:10 pm

De Dragon wrote:
zoom rader wrote:
De Dragon wrote:
zoom rader wrote:
FINANCE Minister Colm Imbert agreed on Thursday agreed with views expressed by UWI economist Dr Dave Seerattan about foreign exchange.

Seerattan's views were reported in Newsday's Business Day magazine.

In a tweet, Imbert said, "Just read an article on TT economics, in the Business Newsday. An interview with Dr Dave Seerattan, a UWI economist." He added, "His views on growth, forex (foreign exchange), expenditure levels etc are a breath of fresh air – balanced, sensible and relevant. Amazed that such views exist there."

In the article, Seerattan said, "The foreign exchange rate is one of the issues that is beset by behavioural problems, psychological problems. I believe people behave irrationally at times, so we (economists) have to be very careful when we are discussing the foreign exchange market and exchange rate."

He said there is no doubt the current exchange rate is overvalued, but the problem decision-makers have is how to make the adjustment. “A lot of people talk about depreciation being this magic bullet that solves our problem, but the truth is, no one policy is going to solve all the problems, and what you need is a mix of policy measures...and every policy will have costs attached to it, unintended consequences that you have to be cognisant about.

https://newsday.co.tt/2021/04/15/imbert ... -on-forex/

Yep, Just we thought this nasty injun is on the red government pay role

Part of Impsy's continuing narrow minded perspective of only agreeing with optimistic views, and labelling all others as "agendas" and "UNC" even when everyone can see we're in a hot mess, and always will be once LFD RFD PNM don't listen to other views.
It is clear to see that this UWI idiot is on the red government pay role.

This is what they do pay for aset mis leading articles and fables to fool a population

Yet in the most glaring of absurdities, Impsy himself said we were in economic strife just recently.
Pastor p¤rnhabit 7 won't highlight that and eliteauto too busy looking for red government free money under the guise of contracts.

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Re: Economist: The country is almost broke

Postby Habit7 » April 16th, 2021, 1:24 pm

De Dragon wrote:Yet in the most glaring of absurdities, Impsy himself said we were in economic strife just recently.

Yea we are in a little tiff called a pandemic have you heard about it? It might not just be TT alone.

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