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[Willi]

Columns
Grabbing and drinking from the chalice of political poison
Howard Chin
Saturday, January 28, 2012
http://www.jamaicaobserver.com/columns/Grabbing-and-drinking-from-the-chalice-of-political-poison

[Exile]

He certainly has not proffered any solutions, just the usual self-flaggelation. What new has he added to the discourse? Nothing new here really.

[Mosiah]

and that's why I myself had no comment either.

[Bricktop]

Stop being obtuse. Yuh skipped this part:

I wonder, for instance, what Cuba is to be paid for salaries, airfares, ground transportation, accommodation, etc, for the hundreds of health professionals who are coming to work in Jamaica? How does this compare with hiring our own people? I doubt they accept Jamaican dollars; more likely US dollars of which we are short. An open, transparent government would tell us up front why this is value for money.

[Hortical]

Cuba will be paid in US dollars and the partisans have chosen to look the other way since a fi dem people a run tings now.

[Sir X]

Arent most forgein contracted profesionals paid in us or the equivalent to?

Whats the big deal, how did they pay the chinese etc ? Point is he made good points that the JLP himself admits could not address , but he excused it toungue in cheek, by reasoning if they had more time or the masses are stupid.

Giving away any sound sense of reasoning but goes on to twist himself on a knife by saying both parties are wutliss.

[Bricktop]

Why is there a shortage of health professionals in Jamaica? So how stupid this is now?

[Sir X]

Shortage of health care professionals , like almost everything else ? but an abundance of an uneducated work force?...mek sense Brick!

The guy is a scorned labourite rejected by the masses !for a minute , i thought it was Ben trying to sound rational, with his toungue in cheek B.S.

The only truth is the people might scorn the PNP in 5 years..the same dumb stupid people.

[Bricktop]

Yuh gonna answer the question?

[Sir X]

You answer mine !

, like almost everything else ? but an abundance of an uneducated work force?...mek sense Brick!

[Willi]

You didnt read this?

"The two major parties have two serious weaknesses. First, they each want to seize and hold on to power. Second, they have cultures of secrecy. Good for them. Bad for us. The politics has to change, and dramatically. In fact, into an open form, with highly educated and trained Jamaicans, where neither the current party structures of the PNP and the JLP could survive, so that the bitter medicine can be administered. After all, the only way to administer such bitter medicine is to persuade the patient to take it himself."

[Sir X]

Did you read this ?......

Giving away any sound sense of reasoning but goes on to twist himself on a knife by saying both parties are wutliss.

[Willi]

Exile wrote that?

[Willi]

Just where did you see that?

[Willi]

Yuh keep trying your best to avoid seeing the reality out there, huh?

It is bleak and as time passes it gets bleaker...

here is another taste:
Nobody can tell the future, but one thing's for sure:


"we are in for a very long, rough and bumpy ride..."

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From Financial Times' blog, Jan 30:
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In the old days recessions were deeper and shorter. People that had taken on too much debt went bankrupt and people that had made too many bad loans went to the wall. The system, cleansed of excessive debt, could then move forwards and grow again. The weaker and more foolish players had been removed and the capitalist, evolutionary system saw the survival of the fittest.

In 2008, the greedy and foolish Wall Street investment banks should have been consigned to the dustbin of history. When one institution (Lehman Brothers) went under, the cascading, domino effect nearly took the whole system down. It was quickly realised that no one else could go under and everyone else had to be bailed out.

Greece is a small country, but it is still a lot bigger than Lehman brothers and a disorderly default will be catastrophic. Some European banks will go down and the domino effect will start.

Unbelievably, one of the FED’s functions was to ensure banks don’t get too interconnected as they were prior to the Thirties depression. Unfortunately, Alan Greenspan and Robert Rubin (Goldman Sachs’ alumni) persuaded the FED that they shouldn’t regulate derivative trading and the FED agreed. The banks set up an un-regulated market in derivatives of ten times global GDP that inter-connected the banks and now no one can fail.

The Euro-zone is “too big to fail”; Greece is “too big to fail” and any bank of any reasonable size is “too big to fail”.

As no one can fail, there is no way of ridding the system of excessive debts. I think we are in for a very long, rough and bumpy ride.

P.S. The shadow banking system, after an initial contraction after 2008, is now larger than it was before the 2008 crisis. The shadow banking system is where the banks keep all their un-regulated and off balance sheet trades, such as derivatives, and this is how they set up a spiders web of global inter-connection out of the view of any regulators.

The banks are now even more inter-connected than they were in 2008.God help us all, the lunatics have taken over the asylum.