Public sector workers should be very angry about debt buy back, but they won’t be

After 5 years of wage freeze, the PNP government has offered a mere 7% increase in wages to public sector workers, stating its inability to pay.

Now we know the government has taken a decision to pay over US$60m more per annum to service this new US$2B loan that it took at a very high interest rate.

So while  we cannot pay our poor public sector workers more, but we can cough up an additional US$5M or JA $938M more per month to pay to rich bankers both locally and overseas .

Public sectors unions should applaud this move move by the minister .

PetroCaribe Debt is NOT included in Jamaica’s overall debt numbers, so no reduction in Debt/GDP Ratio from debt buyback !

The financial analyst have all been saying that the recent debt buyback from Venezuela will reduce Jamaica’s Debt/GDP ratio, but amazingly this really NOT true as I am not finding out.

Here is the info

Jamaica’s public debt is expected to reach $2.072 trillion at the end of March, but PetroCaribe is not calculated in the amount, based on the way the debt is calculated.

If PetroCaribe were added to the stock of debt, the figure would climb by 8.1 per cent or move to $2.24 trillion.

http://jamaica-gleaner.com/article/lead-stories/20150304/jamaican-government-giving-serious-consideration-buying-back

The IMF calculation of the debt/gdp ratio uses the overall debt of $2.072 Trillion, which does NOT include the PetroCaribe debt numbers and hence having signed off on the US$2B bond issue, Jamaica will see no change in this ratio.

Why is it that not a single one of the various analyst who have been interview thus far has made this information available to the public.he

I keep saying the lack of research in this country is a huge problem and once again, I take the statements from these so called experts with a grain of salt and so end up doing my own research and come to my own position..

So folks there you have it, we have all been mislead by the Minister and his band of expert analyst on radio and tv.

Its amazing what a little bit of research can produce.

What is happening with the 360MW project ESET ?

Can we get further update on what is taking place here. JPS was working on and we were told had signed with GE to convert the Bogue plant to LNG. We were also told that LNG contarcts were being firmed.

JPS we were told was given approval to build a new power plant, what is going on their, when will construction begin ?

ESET please tell us what is going on .

Current crop of labourite leaders are the worst ever !

While I have huge dislike for the PNP as a government, given their inability to  address crime and generate growth in the economy, I must admit that the JLP is not yet ready to hold the reins and that is sad.

I firmly believe that the JLP having spent so much time in opposition, really do not know what leading the country means and have so far not placed themselves in a position to offer leadership.

The average age of the various spokesmen in the party is about 62, which is just 3 years shy of legal retirement for those in the public sector. Some of these guys are as old as mid 70’s and have not tasted power or been in the position to lead for more than 5 years of their entire political life.

What can Charles, Henry, Samuda, Chang, Baugh, Smith , Hutchinson  (he his not running again) etal bring to the table in a JLP led government?  They have been in opposition so long, they have nothing to teach the young JLP members what it means to lead, because they have not been in any position of leadership for such a long time.

Andrew Holness, the soon to be deposed leader of the JLP for example has been a MP for close to 20 years,  of which, 16 or 80% of which he has been in opposition. It is therefore not easy to make the transition from being one who is looking for problems, to one who is looking to solve problems hence the party is not seen as creating any avenue towards leadership.

The party cannot even put together a decent list of possible Representative, care takers at the local level without war, demonstration, throw wud and acrimony . If ths is how they behave in oppostion can you image what we are likely to see if they gain power.

Jamaicans do not want to take that chance again with the JLP and to make matters worst, the leader of the party Andrew Holness cannot hold it together. If Holness is not as selfish as I think he is, he will need to facilitate the entry of Tufton and soon rather than later step aside as party leader to give the party a better chance at victory.

I suspect much like his mentor Edward Seaga, he will NOT give up that position and will punish anyone who dares to challenge hi for leadership and will become the most “successful” opposition leader in Jamaicans history.

He would have been one of if not the only leader who would have led any party in Jamaica to to most electoral defeats in the national polls and never to have become Prime Minister of Jamaica.

PNP is bad, but sadly the JLP is not a viable alternative at this time and that is a tragedy.

Portia Simpson Miller dodges the public once again !

All news media yesterday afternoon reported that the Prime Minister of the country was going to give a rare broadcast to the nation at 8pm ( we got this news about 4:30pm).  Many were eagerly  awaiting this rather strange and impromptu broadcast, but lo and behold, within an hr of the initial announcement, were were told the broadcast would not happen.

We were never told why it was going to happen in the first place even though I believed the question was asked and we were never told why it would not happen and when it may now happen.

This is current governance the Jamaican way.

I guess we will have to wait until she is on the political platform come September before we hear any word from her again, unless the opposition ” draw har tongue”  before then.

Is this the best we can do in Jamaica ?

Are we willing to continue and accept this level of mediocrity ?

Andrew Holness will NEVER become Prime Minister of Jamaica

There are many labour party supporters who are still bitter with Andrew Holness, with how he and his party treated them the last time they were in office . Who can forget being asked to tender their resignation even though they had done nothing wrong . Many will not forget being pushed out of their jobs to make space for others, they shall not forget.

Comrades do not throw each other under the bus, but for Andrew he has no problems doing so with his own.  Many labourtite have said that as long as Andrew is the leader of the party, he will NOT get their votes , because they do not forget. Many to whom I have spoken to in recent times have said in their time of need, it was the PNP who offered them support after being kicked around by their own party led by Andrew.

I never thought the resentment for this man was so great even within the JLP itself. The senator resignation was pointed to as another of the signs of is underhanded approach and many therefore do NOT trust him.

I am told that Holness will not only never become Prime Minister in this country, but will have  hard time retaining his current seat, in fact I am told he will lose his current seat, thus paving the way for his removal as party leader in the next election.

Where is our PM, is she back from vacation ?

Last week Wednesday, we all say a news release suggesting the our most beloved Prime Minister was taking vacation and that Mr Robert “Gets nothing done” Pickersgill was going to be in charge of the government.

Its Tuesday, July 28, 2015 and the country has not heard ( at least I have not) if the Prime Minister is back from vacation and once again “in charge” of the government.

Despite all the murder and mayhem bedeviling the country, our Prime Minister has not yet seen it fit to address the nation of what her government will be doing to put an end to the murderous rampage by marauding  gunmen.

When will the Prime Minister see it fit to address her “subjects”?

I guess we will hear a lot from her the sooner it gets to the next election.

I guess the people are happy because the PNP has surged upwards by 7% points and not seems set to win the next General election on the back of what must be a good performance

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