What really happened at Vaz' auto store today?

[Don1]

You compare loose credit which essentially means printing money or borrowing it from abroad to a Ponzi?

If you go that far every monetary system is a virtual Ponzi because money is just paper scrip backed by nothing but con fidence... where do you draw the line?

[Assasin]

But the path funding has increased over the last three years yet poverty has risen. That means money was coming from somewhere else. Yes remittance played a part. I personally think you underscore the effect of these schemes coupled with high interest rate where all the retirement fund etc. had to do was invest in government bonds to get a good return.

[Assasin]

you first question my knowledge. Ponzi don't create value but if the money spend 2 times, it is better for the economy than if that dollar was in the bank or under your bed.

This is the same reasoning behind stimilus when Bush gave the tax credit to people saying they will go out and spend. It doesn't create any real wealth but it inject temporary life in the economy.

the fact is if people think they have disposable income they will spend and think they are richer. To you and I it is Ponzi money but to the people who invest in these schemes it is income to them.

[Don1]

Well we can choose what index we want to believe

[Willi]

Ahhhh,

Yuh finally get it grasshopper!

[Willi]

Well how can you believe on that is counterintuitive?

Debt double, and poverty double. No visible enrichment anywhere. How dat mek sense?

[Don1]

poor people don't have the disposable income to invest in govt paper or investment schemes to take advantage of outsized returns...those factors don't have much if any direct impact on poverty rates so they cannot explain poverty reduction

[Assasin]

So when the middle class buy more jerk chicken or down a cornation market it has nothing to do with the economy?

The more disposable income the middle class have the more economic activity it generate.

[Willi]

Dem clearly wasnt poor before!

[Willi]

In Jam, "poor" people find all kind ah money fi buy fancyness fi guh Dance and stage show.

[Muadib]

You can't help yourself can you.. stop fighting your household tendencies..

You asked a question about the PNP 'mystery' success 'reducing' poverty during a reign of economic failure.. I posited a theory involving remittance inflow patterns.. what di last 3 years haffi duh wid di PNP ?

Fling in one China Factor while yuh at.. mi hear seh dem mek nuff cheap tings..



Put on your thinking cap.. not your orange one..

[Muadib]

Don't underestimate 'Household Training'....

[Willi]

Is this REALLY a fact?

It flies in the face of logic. Just like you had issue with the figures that Muadib quoted and unno had that long running battles about divisors etc.

[Mosiah]

Is what really a fact? That poverty levels have at least doubled in the last 3 years?!?

[Willi]

Yes and that its a result of GOJ neglect!