Borrowing for Economy Growth

Appreciably, the Executive arm of Government, the Cabinet led by the Prime Minister, has many expert voices at its disposal, economists and financial analysts that will demand that all public borrowings be directly linked to growth in the economy, traditionally measured by Gross Domestic Product. GDP is the monetary value of all the finished goods and services produced within the country's borders in a specific time period, estimates are commonly used to determine the economic performance and standard of living of the whole country and to make international comparisons. The question therefore is “How would any proposed borrowings affect GDP?”

Public Money

Apathetically, we the people are born owing money; live naively contributing to the ever increasing unpaid bills and will die leaving the next generation in more debt. Totally unaware, and in most cases, indifferent to the state of our economy, as we selfishly divide along political party lines or even worse, individually, failing to acknowledge responsibility for or of the out of control debt. The people must now unite or with be forced to come together later, by international lending agencies, when we cannot pay our current bills. Neither Politicians nor Individual Greed can build a prosperous future.

Capital Revenue

Serendipitously, the 2009 CLICO bailout or investment brought substantial capital revenue to the Republic of Trinidad & Tobago, in 2013, 4 years after. And in 2014, as oil and gas prices decline, CLICO along with the listing of First Citizens’ shares on the local stock exchange grew these extraordinary revenue items by over 200% from the previous year. The listing of NGL and the sale of key property assets formed part of the revised estimates in Apr 2015, budgeted at over 300% from 2014 actual figures. This trend was continued in the 2015-2016 budget projecting $7,300,000,000 in revenue a further 50% increase from the 2015 revised estimates.

Entrepreneur?

Language is dynamic and interpretive, and when Government representatives and other prominent people speak and the media reports, such usage filters throughout a society. Describing people that simply set out to be paid, as Entrepreneurs and having the Entrepreneurial spirit belittles the title.

Entrepreneurship cannot be taught or forced, it is not a career path, it is not widespread, it refers to a portion of an individual’s life, in which a unique vision of a life changing solution, that can benefit societies, is formed. Moving such an idea forward requires adequate capital for research and development and more importantly, sound management. Such investment, in both tangible and intangible assets, and skilled and experienced human resources, is considered as high risk and promises high returns, but must also take into consideration a very high failure rate. This label should only apply to persons whose ideas have successfully improved lifestyles.

Non-Financial Profits

Small business activities are seen by most economists as the engine to restore confidence and create jobs in the short to medium term. Driven by Government policies through incentives, both public and private lenders are encouraged to make a larger portion of their loan portfolio available to small operators. But most small borrowers lack the necessary asset backing to make them commercially viable and even with Government guarantees in place, such loans historically fail to perform, costing the lender more in administration expenses than the interest collected. To address these issues, lenders are promoting business services to assist in planning and reporting activities, to more closely monitor and quickly take action at the first sign of problems.

Legislating Morality

Society is a complex and robust set of rules and regulations, policies and programs designed to benefit a majority, while protecting minorities and individual rights. Morality is about doing the right thing but who defines right from wrong. A legislature, elected by a majority, to amend laws can only tighten loopholes, when discovered, but to build a morally based society requires each and everyone to consider one another’s opinions before taking actions. Every religion preaches love, understanding and consideration for each other, but in practice, society tends to ignore all minorities and the individual.

Eco Cities

This is not an attempt to fix all of humanities problems but a call to prioritize and direct resources to the best solutions. In a multiple action approach, Governments (we the people) must address; the elimination of depress areas, the improvement and preservation of a healthy educated population, the reduction of poverty and the creation of new employment opportunities. Hiding from long-term problems, which require sustained actions over numerous political terms, will not solve them. The best solutions are, approaches required side by side to the existing, to invest in new industries and sectors, surrounded by new and refurbished commercial and residential areas, participate in finding new and renewable energy sources, while addressing the effects of climate change, and using the new technology to increase food yields, purify water and reduce air pollution.

Trade & Investment Wars

The hope is to clarify any misconception that simply accompanying a head of state on foreign visits will lead to the opening of export markets or any other profitable arrangement. An organization, defined herein as a (Country) geographic territory bounded by laws or a (Company) group of individuals operating under bylaws engaged in for-profit or non-profit activities, and its (Goods, Services or Processes) products must have done the preceding and necessary academic and practical work. Identifying opportunities, describing the targeted market using current market data, adjusting the product offerings, employing scientific market testing results, building the organization’s image, competing for customers’ loyalty and guarding against espionage must all be address in the organization’s strategic plan. Respectfully, without these guiding policies and decisions on which actions are implemented, such visits are not only wasteful but are downright damaging.

Necessity, the mother of Action

Another reaction, by energy policy-makers of the Caribbean region, to the very predictable crisis of increasing energy (oil and gas) prices, at the end of a one-day Special Meeting of the Council for Trade and Economic Development (COTED) held in Guyana on March 24, 2011. A media release acknowledged that the energy situation remained dire, for the net oil importing Members of the Community, given the recent surge in oil prices intensified by the ongoing political turmoil in the Northern African and Middle Eastern Region. “Having identified gaps and areas for strengthening, including those related to renewable energy and climate change issues, the Ministers mandated that the finalization of the CARICOM Energy Policy be expedited.

Government Responsibility

The term “Government” seems to be widely misused, by the media and hence, the population, to refer to various agencies designed and charged to deliver public services. There are only three branches that form a democratic Government; the executive, the legislature and the judiciary. Noting that in some systems, it is difficult to separate an elected servant, who as part of the legislature must speak on behalf of a geographic constituency, from an appointed officeholder, who as part of the executive must oversee the national interest.