Jamaica divestments defined; Sell the assets and keep the debt

I must truly not be Jamaican, why I continue get angry at the way our idiotic politicians have chosen to dispose of the assets of the Jamaican people.

I must not like Jamaicans why I continue to be upset at the people for sitting on their collective asses and do nothing , except to pay the bills left after everything has been sold off.

When normal (sensible) people dispose of an asset, they do so in a manner to gain monetary value from such sale ie they make sure  the do not NOT lose money in the process.

When Jamaican politicians sell OUR assets, they do so in a manner, that at the end of the sale, we Jamaicans end up owing the purchaser of the said asset. Now if that is not idiotic, then I do not know what is.

Case in point, a bill was passed to allow for the sale of CAP and when that sale is completed, the people of Jamaica, will have no asset, but instead will have a bill of $24B !.

You will hear arguments like the following:

  • No one wants the assets.
  • We have have it up for sale for years and no one was willing to purchase it.
  • The buyers, would not pay the price being asked .
  • The buyer does not want to assume the debts accumulated by the entity being sold.

Call it whatever you want, we should never be selling state assets and then we the Jamaican population are left to pay the bills after the sale has been completed.

What is interesting is, the very asset that the government said no one wanted purchase, is typically held for a few year by the new owner and then sold for a huge profit to some other entity that was never interested in purchasing it in the first place.

Now you tell me if the people of this country are not the smartest on the planet.

So Jamaica’s definition of divestment is as follows:

Sell the assets and retain the debt, for the Jamaican people to pay back. 

Hmm.

This is the best we can get from all the MBA’s, MSc’s and PHd’s that are available in this country. We are really making great progress as a people.

I m sure its something wrong with me, since none of the above appears to make any business sense at all.

: (

I guess I need to go get trained as an economist, maybe that will allow me gain a better understanding of these things.

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