Priced in US$ , pay in Jamaican dollars

Jamaicans continue to feel the pinch of the devaluation policy and while some are taking a severe beating, s0me are sitting pretty happy.  There are many  senior executives in Jamaica whose salaries are index to the US$, ie the salary is quoted in US$ but payable in Jamaican dollars. What is amazing however is the refusal of many of these executives to look at inflationary adjustments for the ordinary worker.

Then we have those who have advertised places for rent, both residential and commercial and the tenants are catching hell trying to keep up with the payments as the dollars keeps running away.

Surely the devaluation policy being employed by the PNP must be working great as it a sure way to make the life of  the majority of Jamaicans, which is the PNP way of doing things.

One blogger suggested that I think the ordinary Jamaicans are idiots and it would be hard for anyone looking not to think in the affirmative , given the destruction that comes with every PNP government, yet the ordinary people keep putting them back into power.

Its like a man abusing his woman, but she never leaves until, she leaves in a body bag.

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4 Responses

  1. Yes! You confirm that you do in fact think that Jamaicans, on average, are stupid and YOU, Jay, is smarter than everyone else. Again, why do you hate Jamaicans Jay, while professing your unwavering love for Jamaica? This seems incongruous to an outsider (i.e, anyone looking in from the outside). Jay, your heart is not pure 🙂

    • I will ask you again Mr Outsider, do you think the Prime Minister love Jamaicans ?
      If you answer is yes, please explain how you arrive at your position ie I would like you to point to the things the PM and her government has done to improve the lives of ordinary Jamaicans.

      Then read my post ” Are Jamaicans really that stupid ” ?
      .http://wp.me/pvIkx-1Jm

      Then read this one

      http://wp.me/pvIkx-1Jv

  2. Since you are so smart, what is the top source of foreign exchange inflow into the Jamaican Economy? If I’m not mistaken, it is remittances (on par with tourism, roughly US$2 Billion annually). The recipients of a good chunk of these “remittance dollars” are “poor” Jamaicans. Would you agree? Does it make sense then, that, even after adjustment for inflation, that these poor Jamaicans are benefitting greatly from the devaluation of the Jamaican dollar?

    Why is it that Tourism doesn’t produce far more foreign currency inflow into our economy than remittances, given our record number of Tourist stopover? In fact, if you break down the Tourism FX numbers a little further, what is the main source of or Tourism-related foreign-currency inflow? Is it travel-related taxes, Room Taxes, etc.? (I honestly don’t know the answer to this question, but you being so omniscient, I know you have the answer at your fingertips).

    • Does it make sense then, that, even after adjustment for inflation, that these poor Jamaicans are benefitting greatly from the devaluation of the Jamaican dollar?

      From your comments, I see that you really think Jamaicans are indeed stupid and believes that if they get US$100 and that fetches J$12,000, then they can buy the same amount of goods that one US$ at $100:1 could purchase.

      This is just like how the comrades think and shows ho really ” tek people fi ediat” !

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