CB Governor says T&T officially in recession

[bluesclues]

Dr. Rowley. fire imbert and replace him. he's hoodwinking you and has been for years in the pnm. i dont think its that he stupid anymore. from the bs expectation of oil to rise, to his track record in all ministry. he's a bullshytter.

[bluesclues]

i think Jwala is an arrogant Kant.

Although having read the his address..he eh say anything wrong.

I disagree with naming the organizations.
But having done so....all of them SELL stuff here.
ALL that stuff needs to be bought and imported..with USD.

yeah but without a proper investigation can we be sure that assuming in good faith is not misplaced? are the figures in demand really justified for the companies operation? what they selling so? ent ppl buying it if they have to import so much it suggests that they selling right? so our economy should be churning because consumers buying out all that usd worth of goods and services with retail markup and vat set. something wrong..

or as the chinee man would say... sum tin wong

as pm i wouldve investigated this. if not publicly, silently, until there was something definitive to report. but from my pov. something smells fishy. i want justification for the usd these companies are using.


anyway years ago i tell allyuh yuan was gonna be a world reserve currency. a few months ago i explained the yuan situation and the chinese economic management plan.. and boom... news this week... yuan being included as a world reserve currency along with usd.

talk to meh. ent aiz a boss? imberty who?

[pugboy]

it is pretty obvious chap has an axe to grind,
his body language and manner of speech is quite clear.

he was called back from big job abroad by PP and then treated like a little boy
and now getting same

I going to bank to attempt to get some usd today, will see.

[Chimera]

how this US currency does work with regards to credit card payments though?

like if you go to the bank to pay to the US side of your credit card....
the bank hadda have US equivalent to send to visa or mastercard or whoever?

[bluesclues]

again i going to submit some advice that i was keeping reserved.

local banks must start processing yuan locally immediately. allow the chinese to store their yuan in our banks. allow us to make payments internationally in yuan with credit card etc.

[Allergic2BunnyEars]

Maybe you should tell it directly to the banks and not just on tuner?

[Numb3r4]

Do the local chinese businessmen want their Yuan in local banks? That might be a good question to ask.

[Numb3r4]

Dr. Rowley. fire imbert and replace him. he's hoodwinking you and has been for years in the pnm. i dont think its that he stupid anymore. from the bs expectation of oil to rise, to his track record in all ministry. he's a bullshytter.

He can't get rid of Imbert who will do the dirty work for him?

Hinds?
Regis?

[Redman]

So..any one know what the actual numbers are?

With oil cut in half....a reduction in growth is inevitable.
From what I've seen we have gone from 0.1% growth to -1.7%

what does this actually mean to us?

the way I see it we could be making a mountain out of a mole hill.

The questions remain the same...what we doing differently?

[Numb3r4]

^^^ We aren't doing anything different yet. We will have to wait and see the how the business community have fared with respect to the Christmas and the outlook to the new year and the Carnival.

I guess consumers could try to manage their spending. May want to reconsider the money spent on a costume or fete? We will see what the Prime Minister has to offer on the end of year message?

[desifemlove]

Dr. Rowley. fire imbert and replace him. he's hoodwinking you and has been for years in the pnm. i dont think its that he stupid anymore. from the bs expectation of oil to rise, to his track record in all ministry. he's a bullshytter.

http://www.cnbc.com/2015/12/10/opec-pre ... -2016.html http://www.cnbc.com/2015/11/13/why-oil- ... ntary.html where then iz lie?

[Redman]

where then iz lie?

Cuz it eh come from Blues Clues.

He was the first to predict the death of the entire global oil complex.
And I recall a recommendation(dont ask for details) to sell off ALL the Oil reserves of TnT
He also was the first to postulate that the Yuan would strengthen and move into reserve status despite the demise of the dollar being a long held POV.

So basically if he eh say it .....its a lie.
So a Minister of Finance quoting the EIA(what the fack do they know) is poor form....unless it syncs with BC POV.


I hope this helps

[Daran]

So..any one know what the actual numbers are?

With oil cut in half....a reduction in growth is inevitable.
From what I've seen we have gone from 0.1% growth to -1.7%

what does this actually mean to us?

the way I see it we could be making a mountain out of a mole hill.

The questions remain the same...what we doing differently?

Nope, single digit effects in GDP are significant. A contraction in the economy even 2% means that overall things aren't good, and to have that repeated over 2 quarters is why economists signal that as a recession.

However, there is always a danger in announcing a recession publicly. It makes people weary of spending which in turn causes a ricochet effect whereby businesses counting on Christmas sales, inevitably do bad because of the proclaimed doom and gloom.

However, this is the reality, recession are always hard to get out of because of the physiology of it, for Trinidad this is less so because as soon as oil goes back up everyone will be happy (despite no change in their direct income) and market confidence will be up.

Lots of my friends were laid off September, but the question is were those jobs ever sustainable. I actually do think PP had no intention of winning the 2015 GE.

Let PNM clean up this mess, but surely that won't happen, they've already made countless poor move with VAT. We could be entering a semi-permanent recession as PNM racks up loans and oil & gas never fully recover.

[Habit7]

Let PNM clean up this mess, but surely that won't happen, they've already made countless poor move with VAT.

Wow the new VAT policy hasn't come into play yet but ppl get poor by future reduction in VAT?

Back to the Future Poverty?

[zoom rader]

Let PNM clean up this mess, but surely that won't happen, they've already made countless poor move with VAT.

Wow the new VAT policy hasn't come into play yet but ppl get poor by future reduction in VAT?

Back to the Future Poverty?

Government on the right move, but I still don't trust them.

What they should be doing is getting productivity up. Too many lazy, rude and hostile public servants.

Everything in Trin you always have to have a link, relative or bribe your way to get anything done.

Government need to sort that mess first then deal with cutting spending.

[Numb3r4]

http://www.cnbc.com/2015/12/10/opec-pre ... -2016.html http://www.cnbc.com/2015/11/13/why-oil- ... ntary.html where then iz lie?

That article did acknowledge that production from non-OPEC members will be less so this might send prices up, however it did not take into consideration the impact of the Iranian oil hitting the market, it did say that Iran would not cut production in fact they may be looking to increase production.

[De Dragon]

He and Howai should be charged for treason.
I seriously believe they're enemies of the state.

Both of their messages never matched up.

Both kept a lid on the seriousness of the impending situation.

Both are taking orders from powers who do not hold the countries' interests at heart.

How do you keep the sand out of your ears?

[desifemlove]

http://www.cnbc.com/2015/12/10/opec-pre ... -2016.html http://www.cnbc.com/2015/11/13/why-oil- ... ntary.html where then iz lie?

That article did acknowledge that production from non-OPEC members will be less so this might send prices up, however it did not take into consideration the impact of the Iranian oil hitting the market, it did say that Iran would not cut production in fact they may be looking to increase production.

So he cannot be lying or "deceiving" Dr. R if most global energy experts does say same ting..ent?

[bluesclues]

Maybe you should tell it directly to the banks and not just on tuner?

tuner is d bank, d government and d private sector.

i rely on the 6 degrees of separation. in trinidad. it is pretty powerful

but doh worry. when push come to shove i does be where i need to be to do what i need to do.

[bluesclues]

where then iz lie?

Cuz it eh come from Blues Clues.

He was the first to predict the death of the entire global oil complex.
And I recall a recommendation(dont ask for details) to sell off ALL the Oil reserves of TnT
He also was the first to postulate that the Yuan would strengthen and move into reserve status despite the demise of the dollar being a long held POV.

So basically if he eh say it .....its a lie.
So a Minister of Finance quoting the EIA(what the fack do they know) is poor form....unless it syncs with BC POV.


I hope this helps

lawl. allyuh not playing the same game im playing. and allyuh surely not playing the same game opec and boe playing. did u really read the boe justification. either they dont understand china's monetary policy fully yet, or theyre pretending they dont know. either way, the boe reports shows NOTHING that justifies an oil price rally, repeating positive statements to give hope while u do nothing is not going to solve the problem. i mean the BOE released an entire article to say that they are hoping and depending on china to raise imports to help oil rebound? really? so all in all china is the reason for the oil price to drop and rise in the whole world? lol

opec, opec expects oil to rise because they expect demand for their oil to rise because they dont think the shale and other exploration efforts being made by the US etc will be sufficient, forcing them to import more, devaluing the dollar they just said in the BOE report gained strength from REDUCING IMPORTS?

oh my. listen. everyone will pitch an angle. especially those with the greatest chance to benefit. this is how markets work. u cant have insider trading, u cant have market manipulation.. but you can manipulate the news and views of the public. make them rush to buy into oil stocks on your word it will rise. as the public invest their hard earned money, the heads cash out on them and we back to square one,, just the heads wont be complaining anymore.. it will be the investors, crying how they were so dumb to take that shaft. as the heads move all their money to new tech investments.

and i didnt say all the reserves. i said HALF. but ud probably have to understand my investment strategy to understand why i said that. that being said, had we done so, and invested in the avenues and energy sales i was referring to since then and before.. an investment of 5bn ttd wouldve been valued at 10bn right now. part of the deficit would have been paid, and we'd still have the cash to talk about doing it again.

now, that said, some are counting on wartime efforts to raise the price of oil. so as the war in the ME grows globally, they expecting me countries to turn against the west and restrict oil supply or conflict within the transhipment channels will beheavily deteriorated.. thus global prices will rise of which trinidad would be a major benefactor. so is that what we're doing now? hoping for world war so our economy can rebound?

we reach. really. we reach.

read the boe report again. there is nowhere for oil to go. demand decreased. it wasnt china.. the opec report shows uae producing more than their average ceiling. america invested in alternative energy technologies. Germany threw up a solar grid. african countries also getting solar power investments.

in summary, the boe report is just hopeful. its the same report i got from petrotrin managers when i told them price of oil was going to drop in 5 years.. 5 years ago. they laughed. they shrugged. they were smug. now.. theyre retired.

the opec report has nothing to do with u or us. that is opec just talking about how they seeing the chance to take even more market share. and thats all they care about. sure we can use these reports to our advantage. using my recommendations to supply oil at higher than market rates. but then again.. when i made that suggestion oil was $45 a barrel, where $40 was an acceptable "higher than market rate" in my view. now it isnt anymore.. it's $35. we losing money steadily. shoulda sold half at 60-80 and now we'd be able to buy it all back.. and keep the rest of money and pay back hthe deficit.

now tell me more about governments of this country and their economic management strategies.

[Redman]

and i didnt say all the reserves. i said HALF. but ud probably have to understand my investment strategy to understand why i said that. that being said, had we done so, and invested in the avenues and energy sales i was referring to since then and before.. an investment of 5bn ttd wouldve been valued at 10bn right now. part of the deficit would have been paid, and we'd still have the cash to talk about doing it again.

I see you have the same source for yourideas.

[bluesclues]

and i didnt say all the reserves. i said HALF. but ud probably have to understand my investment strategy to understand why i said that. that being said, had we done so, and invested in the avenues and energy sales i was referring to since then and before.. an investment of 5bn ttd wouldve been valued at 10bn right now. part of the deficit would have been paid, and we'd still have the cash to talk about doing it again.

I see you have the same source for yourideas.

what source is that pray tell.

[bluesclues]

bandit and all feelin d recession. is this part of the pnm crime plan?

[Redman]

Pastor teifing more money than any bandit in the history of bandits
and getting church girl pokey.

Smart fella.
His skills directly transferable

[Country_Bookie]

IMO, the argument we should be having is about WHO should get our limited forex supplies. TT is moving to a situation where Forex wise, we have champagne taste and mauby pocket. We'll need to be strategic about who is allocated our forex. Fully agree with the view below:

John Heywood, the English author, almost 500 years ago, coined the saying, “Can't see the forest for the trees”.

So much focus is being placed on the Central Bank Governor's disclosure of the main users of foreign exchange that the primary issue has been overshadowed.

How have these businesses enhanced our economy with the forex?

The key issue is whether or not the use of the foreign exchange is benefiting the economy of Trinidad and Tobago.

The Manufacturers Association claim foul but what do they manufacture? Are they true manufacturers or merely assemblers of foreign products, which are labelled manufactured in Trinidad and Tobago?

How much foreign exchange is earned by these manufacturers and how much return to Trinidad and Tobago?

Having had the disclosure of the key players and the amounts of foreign exchange that they consume, the Minister of Finance, instead of making a big issue of the legality or not of the disclosure, should ask the Central Bank to now analyse the use of the forex, with a view of determining the value-add to our economy.

With the benefit of the analysis, the Government can then make the relevant decisions regarding allocation of foreign exchange in a stagnant economy where forex earnings are dwindling and will continue to so do in the foreseeable future.

This information will greatly assist the Economic Advisory Board to suggest tangible and practical means whereby our economy can be better managed.

Since we import almost everything we consume, including basic food items, we may be considered a “foreign exchange-dependent economy”.

What happens when our foreign exchange runs out? In anticipation of this, it seems, the Minister of Finance is already talking about utilising the Heritage and Stabilisation Fund to stabilise the economy. How profound!

What is the value-add of the Economic Advisory Board? To rubber-stamp the decisions of the Government? I strongly believe this is certainly not what Prime Minister Dr Keith Rowley has in mind, based on his public utterings to date.

He expects proper analysis and actionable solutions to key issues challenging our economy.

There is a lot of talk about diversification, which may be happening on a too-small scale to materially affect our GDP, so now seems an appropriate time to so do, in light of our stagnated economy.

Our Prime Minister has placed great focus on agriculture, so it is time to be serious about it.

Talking about who got land, who illegally uses land or who uses the land for different purposes are of no value unless systems are in place to gainfully utilise the land.

Ask any farmer, praedial larceny and workers are their key issues.

Focus, seriously, on these. There will be enough workers for agriculture when the manufacturers begin their layoffs, as have already begun.

The Prime Minister, our chief executive officer of the country, needs to be firm with the business users of foreign exchange, where the need is greater than the return to T&T's economy. They will always lay off workers when their profits decrease, so let us transition job loss from the business community to gainful employment in the agriculture industry.

Though I focus on agriculture, other industries also use foreign exchange to assemble their goods. Take for example, Carnival.

How many Carnival bands use local materials for their costumes? Or, are they all “made in China”?

Of what value is the Department of Creative and Festival Arts, at The University of the West Indies, if its output is not tangible enough to engender real creativity in our Carnival to make it number one in the world?

Think of the spin-offs from such an effort, particularly for tourism, a comatose industry in Trinidad and Tobago.

Let us refocus on the real issues of our economy rather than on the political points that can be scored from sensationalising issues, which do not redound to the benefit of us, the citizens of Trinidad and Tobago.

Those whose names were called by the Governor of the Central Bank, if they truly add value to our economy, should be proud to stand up and say “this is how we utilised the foreign exchange and how much more we earned to benefit the economy of Trinidad and Tobago ”. Can they?

There is a very great need to move away from textbook economics and into actionable economics.

[cracker]

It just keeps getting better!!

[src1983]

Sorry for them who living pay check to pay check

[10-01]

Sorry for them who living pay check to pay check

we like ittt so ...

[brams112]

It just keeps getting better!!

most of the people might be sufferers who were there,so all them studying is how much freeness they will get,opie.

[rspann]

If they get it before Christmas and carnival, that is the end of it.