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Hi Mark:
I enjoy reading your various articles but I felt it necessary to make a comment on the section on FINSAC found in today's Observer Online - http://www.jamaicaobserver.com/columns/Betty-Ann-Blaine-s-political-love-trip_8671634
There is in too many articles on FINSAC and in yours of today the constant braying about the 'evils' of those 1990s interest rate regime and its destruction of our indigenous entrepreneurs. ...but is that true?
Our 'man in the street' knows the reality of the growth of the indigenous entrepreneurs year over year. Some prominent institutions failed and persons were ruined that is fact. ...but that is a recurring cycle as countries develop and the years roll on.
Have you ever wondered where is the comparisons with companies that endured? What was it that they did that ensured survival and growth? What did those that failed do or not do that made them go under?
Without empirical data it appears to me that the indigenous entrepreneur class is rapidly expanding. I am tempted to remind that businesses must adapt to to the climate within which they operate or die. That of course means those who operate these businesses must do like-wise.
The FINSAC inquiry proved to be a turn-off when it quickly became apparent that it was just a place where persons were trotted out to say, what a 'wiked government' with not one question on "How were those businesses being operated previous to going under?..."Were they as operated going down the tubes?"
Very early one 'case' jumped out at me. That case was about a gentleman who manufactured transformers. The facts as outlined in the media, were he manufactured the transformers at great cost but had no market for them. Well?
Reminds me of our US buyers who went under in the current "real estate market down-turn"...the mortgage brokers are the scapegoats in some minds. The people who bought were and are idiots it is claimed. Those buyers had not a clue what they were getting themselves into. That makes for great politics, but the reality is I am yet to meet one of those persons who is the the fool the media would like to have us believe. All those I know said that they knew the risk they were taking and knew well the possibility of going under if conditions of work or family life took a turn for the worse. However, like each of us they weighed the risks and stepped boldly forward.
Funnily, when asked those homeowners also do not know any homeowners within their circle who do not know the risks involved in homebuying.
Keep writing, I certainly shall keep reading.
Respek!
Karl
I enjoy reading your various articles but I felt it necessary to make a comment on the section on FINSAC found in today's Observer Online - http://www.jamaicaobserver.com/columns/Betty-Ann-Blaine-s-political-love-trip_8671634
There is in too many articles on FINSAC and in yours of today the constant braying about the 'evils' of those 1990s interest rate regime and its destruction of our indigenous entrepreneurs. ...but is that true?
Our 'man in the street' knows the reality of the growth of the indigenous entrepreneurs year over year. Some prominent institutions failed and persons were ruined that is fact. ...but that is a recurring cycle as countries develop and the years roll on.
Have you ever wondered where is the comparisons with companies that endured? What was it that they did that ensured survival and growth? What did those that failed do or not do that made them go under?
Without empirical data it appears to me that the indigenous entrepreneur class is rapidly expanding. I am tempted to remind that businesses must adapt to to the climate within which they operate or die. That of course means those who operate these businesses must do like-wise.
The FINSAC inquiry proved to be a turn-off when it quickly became apparent that it was just a place where persons were trotted out to say, what a 'wiked government' with not one question on "How were those businesses being operated previous to going under?..."Were they as operated going down the tubes?"
Very early one 'case' jumped out at me. That case was about a gentleman who manufactured transformers. The facts as outlined in the media, were he manufactured the transformers at great cost but had no market for them. Well?
Reminds me of our US buyers who went under in the current "real estate market down-turn"...the mortgage brokers are the scapegoats in some minds. The people who bought were and are idiots it is claimed. Those buyers had not a clue what they were getting themselves into. That makes for great politics, but the reality is I am yet to meet one of those persons who is the the fool the media would like to have us believe. All those I know said that they knew the risk they were taking and knew well the possibility of going under if conditions of work or family life took a turn for the worse. However, like each of us they weighed the risks and stepped boldly forward.
Funnily, when asked those homeowners also do not know any homeowners within their circle who do not know the risks involved in homebuying.
Keep writing, I certainly shall keep reading.
Respek!
Karl
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