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Exchange rate is now 119 to 1. Have mercy! At

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  • Exchange rate is now 119 to 1. Have mercy! At

    What point do we do away with a local currency. Does it serve any useful purpose anymore?
    "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

  • #2
    So we still nuh reach the magic number that they talking about??

    The constant devaluation will lead to no growth, speculation, people holding the dollars and becoming dollar trader while local business suffer.

    You notice we are also exporting less as the dollar devalue???
    Last edited by Assasin; September 25, 2015, 07:40 PM.
    • 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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    • #3
      It was a situation in which the all knowing head of the IMF was clearly wrong.
      When the head of the IMF came up with that magic number,our dollar was of a noticeably higher value.Mr Peter Phillips should have pushed to have the dollar immediately lowered to that so-called magic number coupled with changing our exchange rate to a fixed one with the dollar pegged to the US'(didn't Obama say we should stay the course,and the head of the IMF would jump at the notion of a country giving much weight to her utterances).
      Last edited by Rockman; September 25, 2015, 07:57 PM.

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      • #4
        Growth was suppose to be a part of the equation and there is none. If there is no growth, we are going nowhere. All these project that was talked about, where are they now?
        • 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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        • #5
          Will be unveiled just before or just after election date is announced

          Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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          • #6
            Where are the PNP cheerleaders on this? Karl???
            Gaan to the dawgs....
            Winning means you're willing to go longer, work harder, and give more than anyone else - Vince Lombardi

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            • #7
              Why you think election is been called now and not next year?? Wait till the next budget read.

              Because there will be a massive lay off based on the IMF want a smaller work force. Growth over the last 3 years was suppose to offset that. That is a part of the current IMF deal. Also Pension reform and more tax increase next year. I personally don't envy the next government.

              I will say this again, Economic growth must be our primary target. They talk it while in opposition and people said it is hard to get but you don't take a job if you can't deliver it. Time for the excuses to stop. With economic growth we don't need devaluation, and so much tax increase.
              • 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.

              Comment


              • #8
                Yes the constant slow motion devaluation is very destabilizing to an economy. Everybody starts to believe it will be lower next week. Everything from setting prices to planning to investing gets even more difficult.
                "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

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