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I applaud the PM for the move but I'm curious to see the near future effects of this. Fixed deposit will be affected because banks won't be able to pay the interest rate that was fixed with those deposits. People will switch investment type etc since they are not attractive as they were. Now let's see the test of who had bad management practices...Took long term deposits at fixed higher rates and invested in short term instruments that interest/income will be cut drastically. Let's see how much activity there will be in the refinancing market for cars, house, etc. Maybe I'm over thinking this but I'm thinking there will be far reaching implications...Still, it's something that needed to be done
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There is no good alternative at this time.
Time to pay the piper.
Cash Plus gone, no the Interest Plus gone too.Comment
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One consequence might be capital flight...unless the GOJ can get inflation well below the target interest rate.... money will go overseas into other capital markets.Originally posted by Plush View Post
Look like Bunting & Golding si di light lang time...dem dun set up dem new company fi deal wid hard currency instruments....TIVOLI: THE DESTRUCTION OF JAMAICA'S EVIL EMPIRE
Recognizing the victims of Jamaica's horrendous criminality and exposing the Dummies like Dippy supporting criminals by their deeds.. or their silence.
D1 - Xposing Dummies since 2007
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Bunting and Golding.. the architects of our demise..
Ah well.. they made out ok..Comment
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Inflation may not be such a big threat since the BOJ can back the dollar and I don't forsee them running out soon. Also the government simply just took out 61 US million a year out of the economy by the tax package and lowering the interest rate. The issue of no raises for two years will also cut back on spending power. Oil price is the biggest worry. For most part goods and services are not limited, only hope our manufacturers can take advantage.
One of the biggest threat could be that the banks are tempted just to lend cheap momey without collateral and we know exactly what that can do.- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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- Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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Bunting and Golding. Of course them see the light long time. Is the program them help structure that the IMF putting an end to.Comment
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"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."Comment
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Dem new venture is a joke....Comment
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break that down...Originally posted by Willi View PostTIVOLI: THE DESTRUCTION OF JAMAICA'S EVIL EMPIRE
Recognizing the victims of Jamaica's horrendous criminality and exposing the Dummies like Dippy supporting criminals by their deeds.. or their silence.
D1 - Xposing Dummies since 2007Comment
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Offline.
Suffice to say, they need "protection" for success.
Out of their league. Belee dat.Comment
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Easy to say... I guess time will tell....along with foreign counterpartiesOriginally posted by Willi View PostTIVOLI: THE DESTRUCTION OF JAMAICA'S EVIL EMPIRE
Recognizing the victims of Jamaica's horrendous criminality and exposing the Dummies like Dippy supporting criminals by their deeds.. or their silence.
D1 - Xposing Dummies since 2007Comment
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...entities and persons with previous obligations to be serviced...dependent on arrangements prior tuh dis-yah dis-pen-say-shan...Originally posted by Plush View Post
Plush - Yuh nah wait pon Lazie fi tell wi bout 'failures', tuh? ...ar yuh?
...or you buy im brush off bout "how Finsac cum innah dis"?"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."Comment
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Karl, duh like the rest. Keep quiet and wait fi an official noise mekking angle from Portia dem or duh like Mosiah and cry fi Shaw's resignation.Originally posted by Karl View Post"Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)Comment
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