$1.27 billion bailout agreement with the IMF

[Sir X]

You mock it as if it didnt work and is working in NYC ,its a fact it generates revenue and decreases crime and increases construction in NYC ,so much so that John public knows it is a big part to generate revenue for New Yorks budget.

Really dont get you? If its not a social contract it should be dismissed, innovation should be dismissed ?

[Sir X]

Let me give you and example ,A home owner has a 20k lien against his famillies estate house because it has over grown grass/trees and a broken down fence.

The city comes in cleans it up , holds it as its own until the bill is paid ,if not it is sold.Sold for the lien and tax amount.

Investor comes and buys it, fixes it up and resells it.

Innovation...idle lands sold , we would have a real estae rush in kingston or wider cities /Jamaica.

[Sir X]

I dont think it will reach IMF money , but I disagree that taking money from the IMF would be of any assistance.

We are living above our means already , borrowig money from the IMF to continue that trend makes no sense.

Its a good start.These guys probably dont have a clue how to collect or enforce collection,if they cant pay seize property and sell it.

[Don1]

Dont get you ? 600milion for 12 million residents , is equal to 3million recieving what ?

Right now we are being underserved and over taxed,the run off,spin off is immense.

Several issues arise from your ideas:

1. NYC's 8m people (not 12m) have a per capita income more than 10X Jamaica's US$4500 or so

2. While US$600m is significant for Jamaica...for NYC it doesn't move the needle.. It's less than 1% of the annual spend which is closing on $70B http://www.nyc.gov/html/omb/downloads/pdf/fp11_11.pdf

With the city's efficiency in levying and collecting fines...if Jamaica was able to replicate...we could enjoy that 1% budget revenue number thru fines... Clearly not moving the needle much..but noice anyway...one one coco an ting

3. In the currently global environment there is zero substitute for the IMF....it's NOT only about the funds they lend US$1B++ or whatever

It's about the IMF imprimatur aka their "seal of approval" without which other multi-laterals will NOT lend ..and those banks which do lend the country money...will charge even more usurious rates than normal because of "increased country risk" due to the lack of adult supervision over our finances

In this environment...the traditional JLPNP model is useless, hopeless and clueless


Social Kontrak mi seh... Resistance to this necessity is now not only Futile...it's Stupid

[Don1]

You mock it as if it didnt work and is working in NYC ,its a fact it generates revenue and decreases crime and increases construction in NYC ,so much so that John public knows it is a big part to generate revenue for New Yorks budget.

Really dont get you? If its not a social contract it should be dismissed, innovation should be dismissed ?

Collecting on tickets is not real innovation...it's Administrative Efficiency.

Digital Yard and similar initiatives are innovations

[Sir X]

Disagree with you

1) Revenue collected does not mean it would be spent as in NYC , the revenue collected could be targeted to specific areas ,like road repairs or directly to paying down the debt.

NYC revenue collected and spent is used for general expenses,not as targeted as our budget would be.

2) The effect it would have on secoundary industries like construction ,real estate ,the purchase and sale of of materials and the taxes earned from it ,has not been factored in.

3)The psychological aspect of elevating onself,ones neighborhood,ones city cannot be discounted.

4)The spin off on real estate value again is a positive factor.

5) Other innovated industries would also have a spin offs.

Defintely something we should look at .Cant see how a social contract can be agianst positive innovation, regardless of how minute.A social contract like that has no place in Jamaica, too X- clusive if it disregards positive innovation.

[Sir X]

Politrick it how you want, we dont have it ,so it could be classified as such.Building a house isnt innovation ,its nothing new , but how you do it could be classified as such.

[Don1]

ok boss

[Don1]

ok...let's agree to disagree


Not saying these aren't worthy ideas...they are.. but..
I don't see any innovation or any game changer here as you do...no worries

[Jawge]

I see you want to levy all kind of charges on the locals (some of them are needed).

What about the other side of Ja's population? The set that comes in and use the municipalities and not paying a cent? I thought you would be recommending more scales to be put in place on the highways for these buses heading to the AI's. Nooo but the locals must pay for all this.

I can't call them tourists because tourists visit night clubs, restaurants, gift shops, fruit stand, t- shirt, carving stands et al. These people at the AI's nuh waan buy nutten ah road (nat even punan............. yuh know what let me stop causen say)

[Sir X]

Everything needs to be looked at to get the maximum benefits for the nation,not the IMF ,we have to benefit economically, socially ,pschologically and mentally.

This tax and cut of our social services by the imf, is a loosing proposition.If we go the imf route , we deserve it to be screwed.

I keep telling you guys, we have brazil,india , s,africa etc that will do business with us , we dont need no usa hitman (imf) to screw us.

Portia can tell the people we have to buckle up and sort out wi self , without mortgaging wi future.

[Jawge]

Di diaspora money nuh good again? 2 Billion annually? Instead of schemes to wrench the money from the locals hands. Why not invest it in the service industry? The Jakan Govt. builds most of the Ai's on the island yet locals have no say in them.

The economic engine of Mobay has been turned off for years now. Cornwall regional Hospital (a literal cash register) sits idly by. Why can't the locals or diaspora be sold municipal bonds be sold to upgrade cornwall regional for health tourism and biomedical research (partners abroad in research)? Ah bare joke wi ah joke.

[Muadib]

It is called Digital City.. coming to an island near you... Silicon Valley Economists to the rescue..

[Sir X]

Any suggestions of anything new ,revolutionary,innovative ? Besides the tried and failed economic policies from the 80s to present i.e IMF ?

Havent we tried slash,sell off and tax for over 30 years ? how much more slash ,sellf off and tax ?Is that an economic plan ?

How do we pay off 1.27 billion on top of our national debt ?

[Muadib]

IMF serves a purpose..

Failed Economic Policies of the 70's and 90's still haunt us..

Don't get profound.. it ain't rocket science.. ask Barbados..