3 MYTHS THAT BLOCK PROGRESS FOR THE POOR: Bill Gates 2014

By 2035, there will be almost no poor countries left in the world.

Bill gates.

MYTH ONE

POOR COUNTRIES ARE DOOMED TO STAY POOR

http://annualletter.gatesfoundation.org/?cid=gf_ob_ll0_012108#section=home

Bank Fees are the least of my concern right now, high taxes are

There is no doubt that banks in Jamaica have increased fees to compensate for the losses from 3 debt exchanges in 3 years and the Jamaican consumer have had to bear the brunt on these increased cost.

While banks fees have been moving up, I am more concerned about what the government is doing to me as it relates to taxes, the movement of the dollar, the movement of oil prices and the rapid increase in the cost of goods and services.

My property taxes in 2013 for example was 146% above where they were in the previous year. The cost per litre of fuel has increased significantly over the past two years, resulting in increase electricity cost and the cost of all goods and services.

The Jamaican dollar lost approx 15% of its value, which has translated in an equivalent or greater increase in the price of goods and service to reflect this change.

My income last year fell in real terms by more than 15% and is likely to fall even more this year given the target set for inflation and additional price increases that we can all expect to see.

So while persons are jumping on the back of the banks, the Government has placed us over a barrel and taking us for everything they can, without providing any improvement in the services they offer for our increased payments.

Targeting the banks at this time is just another distraction, which is meant to take focus from the poor performance of this government.

 

Where on earth will EWI get the money to build the 360MW power plant?

EWC the parent company has total market capitalization of just about US$656 and yet they here planning to build a power plant cost over US$700M, which is greater than the total capitalization of the entire group.

The Jamaica Energy Minister however seems prepared to moved forward with EWC, when there is still no clear indication on how EWI will successfully finance the project.

Mr Paulwell can you indicate whether or not it’s true that the Jamaican Government has been having discussions with China to assist with the financing of the project given that EWC has had major problems in the past to finance their projects.

Over to you Mr Paulwell

Why has EWC failed to inform the ASX of the Jamaican 360MW Project ?

Up to yesterday the Australian Stock Exchange ASX have not been informed about EWC which is the parent company of EWI, about the pending material change as it relates to the undertaking of a near US$700M project here in Jamaica.

EWC is a publicly listed company and matters of this nature must be reported, so why has EWC failed to provide that information thus far ?

No word from the police high command or the Minister on alleged burial site at Harbour View

The Sunday Observer gave a chilling account of murders and burial of bodies somewhere in Harbour View, where according to the reports over 100 bodies could have been buried.
Online readers express outage in the observer blog and called for the cops to immediately investigate these claims.

Its now four days since that report was done and I have not yet heard a word from the Commissioner of Police or the Minister of National Security or civil society groups on these claims, which if are true, would be the single largest gang based mass burial site in Jamaica.

The silence from both men and even members of the government and the opposition is frightening. One would have imagined that the Minister of National Security and the COP would have a personal interest in this case and move quickly to secure the site and immediately begin excavation work to determine if the claims were true, at least as a start.

I am stunned that the country can be so passive about what I consider to be a national emergency issue and the “its like it does not matter” approach that we seem to have adopted.

If over 100 persons could have been murdered and buried in this area, it would seem to indicate that this gang is probably the “wickedest” gang in Jamaica and the fact that the could operate for so long is an indictment on the people of Jamaica.

What is the intention of the police as it relates to this case ?
The COP was quick to claim that his men were not members of any death squads, but when presented with possible evidence of a death squad in harbour view, he has been “noisely” silent.

Mr Ellington over to you sir!

Jamaicans are largely a bunch of jokers, we are like sitting ducks

For months there has been great debate about the provision of a 360MW generating plant in Jamaica until finally EWI was ushered in as the favoured bidder. No sooner had EWI won the bid, there was noise about the financial viability of the firm and their ability to undertake the project given the massive capital investment required.

The local utility watchdog (more like mongrel) indicated to the country, that an investigation will be carried out into the the firm EWI and that would have been undertaken by the FID here in Jamaica.

Just a week ago we got word that the investigations were complete and the files have been handed over to the OUR.

The National Integrity Action (NIA) and the Energy Monitoring Over Sight committee have both asked for the report to be made public and despite their appeal, the OUR has refused to budge, citing confidentially as their reason.

Now Energy World Corporation or EWC is the parent company of Energy World International and is listed on the Australian Stock Exchange ASX and is a publicly traded company.

Now EWC Corporation as a publicly listed company is supposed to disclose, as a matter of due course all related matters as it relates to the group to the ASX and that info  is to be made available to all investors.

What is curious and I have asked for clarification from the ASX, is why after winning a bid to undertake its single biggest project ever, EWC has not reported this material change to the ASX?

Why would EWC having won a bid for over US$700M not reported this major deal to the ASX ?

Something is not right here and I intended to get to the bottom of it one way or another.

 

 

Portia no longer thinks “Fiscal targets cannot eat and people cannot sleep on balance sheet”

DEC 21, 2011

“That is why they have no intention of while trying to balance the books, balance peoples’ lives as well. Fiscal targets cannot eat and people cannot sleep on balance sheet.

“So, while they are balancing the books and looking at the fiscal targets, they need to put the people of Jamaica at the heart and the centre of government and governance,” Simpson Miller said. ( She was opposition leader at the time).

I wonder what Portia Simpson Miller and her apologist have to say about the above two statements made December 2011.

Today we find ourselves in the very same position, where the PNP administration is pushing to meeting IMF fiscal target and the population is suffering in the process.

Jamaican voters are fool fool indeed !

Madame PM are  you placing Jamaicans at the heart of governance and government or are you focused on meeting fiscal targets set by the IMF?

Jamaican voters are fool fool indeed , always missing the big picture and “majoring” in minors.

Jamaica voters needs an education is commonsense and must be taught the ability to reason things out and make better decisions. This experiment with the PNP has been nothing but a disaster, which we will pay for ( those who choose to remain) in the very near future !

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