As Gloomy as the Economy Looks

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Rawlston Pompey

Monday, 19 November 2012 02:30

By Rawlston Pompey

It is undeniable that for as long as humans existed “…MONEY” has been an important resource in their existence. In modern civilization it has been one of the most influential factors and a determinant in human affairs.

It had helped in the development and shaping of the way/s humans chose to live,” individually and collectively as a society. So influential it has been as to have shaped “...behavioral patterns and attitudes; ...biases, likes/dislikes; ...whether humans shall be at variance or at peace; …shall be in love with, or hate each other; …shall show humility, loyalty or treachery; ...shall behave righteously and scrupulously or engage in trickery or acts of skullduggery. Not infrequently, some of these were known to have triggered contentious behavior; ...provoked animosity and hatred; ...stimulated greed and/or covetousness. These were said to be all part of human affairs and/or interactions and may have been seen in many “...religious and secular institutions; ...organizations and/or groupings- in civil societies across the globe.

JUDAS MENTALITY

Biblical teachings have taught that “...JUDAS ISCARIOT” had lost his scruples and soul,” beginning with a “...Kiss and Betrayal” before succumbing to “...temptation” through the “…influences of greed and money.” Thus, through a bribe, he sold his “…Soul and Salvation for thirty pieces of silver.” However, the Scripture teaches that consequent upon “...guilt and remorse,” he had committed the un-punishable criminal act of “...Felo de se-” (Legal term-Felon of himself). He had committed suicide by hanging himself [John 6:71 & Matthew 27: 3-10]. Inexcusably, man, out of “...chronic greed and ambition; ...corruption, manipulation and exploitation; ...opportunism and selfishness,” continues this outrageous behavior, selling both his soul to ill-gotten gains, said to be smacked of “...treachery, trickery and skullduggery.” Such reflects a :...JUDAS MENTALITY”.

BETRAYAL OF PEOPLE

Frequently, these came at the expense of, and betrayal of the  “…will of unsuspecting hapless peoples.” The opportunists and ambitious, in short order were said to have amassed millions, while others, constantly faced with abject poverty, violence and crime; ...living in squalor, misery and despair. Indisputable, they all needed “...MONEY” to feed hungry mouths. It may also be seen that even in “...love, business and/or political affairs,” such behaviors were rampant. Former Leader of Her Majesty’s Loyal Opposition, Member of Parliament Honourable Robin Yearwood may have recounted on his experiences over “...Judas-like behavior,” evidence of which suggested “...organizational treachery, prestige and MONEY.”

GODLESSNESS AND WICKEDNESS

Consequent upon secular human behaviors, the Christian community may see it as that started by the notoriety of “...JUDAS ISCARIOT.” The Right Reverend Bishop Charlesworth Browne may confirmed that such behaviors were all part of “...Scriptural prophecy- “...GODLESSNESS AND WICKEDNESS” of men [Romans 1:18].” Current Leader of Her Majesty’s Loyal Opposition, Honourable Lester Bird may, rightly or wrongly call the leadership struggle “...political heresy.” The ambitious may see it as “...democratic winds blowing for change.” Political Scientists/analysts Peter Wickham and Orville Grant and defeated St. Kitts Opposition Leader Lindsay Grant, may see it as the end of a “...Dynasty.” Thus, for many, this may be “...AS GLOOMY AS IT LOOKS.”

MONEY-VITAL RESOURCE

It is the vital resource called “...MONEY” that is required by every nation to help drive economic activity; …stimulate vibrancy and growth; …provides for the empowerment of people: - influencing lifestyles; …enhancing quality of life for all members of society. More importantly, it is the influence of this object that from time immemorial had turned professed honest and upright men into depravity; ...while some of society’s most affluent and/or influential, smarting under the innocence of lambs into “…vicious economic wolves; …turning some from half-grown-con artists into full-blown crooks. Such behavior was attributed to greed and the ..."love of money".

PERSPECTIVE-ANTIGUA AND BARBUDA

Respecting the nation of Antigua and Barbuda, Finance and Economy Minister Honourable HAROLD LOVELL, with some degree of candidness, had early-o-clock in the financial year, made public disclosures that the “…economic light was fading.” He had suggested that like many nations across the globe, the nation would have also experienced its “…darkest economic hour.” On assuming responsibility for the nation’s economic health in March 2009, he had revealed that what he had taken over from former Finance Minister Senator Honourable Dr. Errol Cort, guided by measurements on the “...Richter Scale,” he had likened it to a category of similar intensity to that which had struck the State of New Orleans on August 29, 2005.



CONSEQUENTIAL EFFECTS

True or false, refuted or not, such catastrophic event was to be experienced by “...public service employees, weekly paid workers and pensioners with “...protracted payments of emoluments” and/or retirement benefits. And since the “...spending power” of many who may have been gainfully employed were drastically cut, it seemingly had “...CONSEQUENTIAL EFFECTS” on commercial activities within the nation and on the quality of life as a whole. Undoubtedly, the Finance Minister Harold Lovell, was acutely mindful of the “…economic woes” that may come upon the citizens and in fact, fell with telling effect on house owners/holders and business operators. Many homes had faced foreclosure, while many businesses were forced into liquidation and ultimately out of operations.

LOVELL’S PERSONA

If there were two admirable traits that defined the personality of Finance Minister Honourable Harold Lovell, they may have been noticeable through “...impressionable characteristics.” These had been pronounced by his apparent extraordinary taste and selectivity in textile; ...appearance and dapperness in    seemingly, carefully tailored wearing apparel. This was to be second to none, but might be equally matched by his Cabinet colleague, attorney-at-law, and former Finance Minister, Senator Honourable Dr. Errol Cort. This was to the extent that such observations may be made. Fine dwellings, women, foods, wines and music might be prudently left to the imagination. Then there was his infectious smile, charismatic personality, effective communication skills and professional eloquence.

OPEN-ENDED ANSWERS

The latter may have been previously displayed as an adept legal practitioner and currently, as a public official with the unenviable responsibility for the nation’s finance and economy. Notwithstanding these attributes, economic and financial experts, most notably, economist and former Financial Secretary Senator Lennox Weston, academics, students and other critics have reportedly seen an eerie side to his understanding  of the concept of transparency, evidenced by “...OPEN-ENDED ANSWERS” to critical financial issues of State.

SIMILAR ANTICS

The Finance Minister may not have been alone in such witty responses. There was former President of the United States Ronald Reagan, who would simply say to news reporters “...Read my lips” even when he had not uttered a word. Then there was the “...fox-like cunningness” of Prime Minister Honourable Dr. Baldwin Spencer who would simply say “...At the right psychological moments” when something was likely to happen. Both leaders never revealed what may happen or when it will. This, therefore, in the mind of many responsible citizens, appeared to have overshadowed his sense of responsibility by a seemingly “...graven lack of accountability” of public expenditure and/or expenses incurred for what they had described as “...Musically, Rhythmically and Romantically-filled events.”

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PASSING THE WORST

Recently quizzed on “...Voice of the People about fiscal plans for the “...2013 Budgetary and Revenue Projections [Radio Observer: Nov. 11, 2012], the keenly observant and anxious listeners had described his response as “...glibness of half talks.” Many had heard him say to citizens through the interactive radio programme, “...I don’t think we are in a position to increase taxes at this time.” This they had likened to an earlier comment “...Nothing ruled out and nothing ruled in.” However, seemingly extending an apparent comforting outlook, he posited “...We have passed the worst” [Caribarena: Nov.12, 2012]. Contrary to such view, commentators to the Caribarena news story, other financial and economic experts were pessimistic that the worst may be hanging somewhere to be descended upon “...those living in close proximity of pauperization.”

NOTHING RULED OUT/IN

Many seemed to have taken the cue from recent comments, when seemingly faced with serious fiscal challenges. Many recalled that when asked about the imposition of additional taxes in generating revenue, he quick-wittedly responded “...NOTHING IS RULED OUT AND NOTHING RULED IN.”  To the almost despondent citizenry, such “...Optional Talks” appeared as frighteningly hurtful as taxes accidentally stepped on in a Cobbler’s shop. Their worst fears had manifested themselves when several weeks later, Tax Reform Consultant Everette Christian announced possible “...garnishment of benefits and allowances.” That took effect in April 2012. As a consequence, those who had been employed had seen their “...disposable income significantly reduced.” However, as difficult as the economic situation may have become, those not in denial, should have, undoubtedly, understood that such taxation was inevitable and reflected the harsh realities of the economic life of the nation

TROUBLING ECONOMIC TIMES

Frequently, some of man’s secular difficulties had arisen from the lack of financial resource in meeting his obligations. Similarly, the challenges faced by Ministers of Finance in obtaining a sufficiency for public administration and expenditure, had not only made hairs turned gray, but had also caused sleepless nights for every man, woman and child. Notwithstanding life’s “…TROUBLING ECONOMIC TIMES,” the nation’s economic difficulties; …citizen’s recurring personal financial hardship; and lingering doubts, there is hope. This was the belief of Finance Minister Honourable Harold Lovell that the future looks for economic growth. Thus, with a deep sense of faith and feelings of optimism, prosperous days may still be coming.

NEGLIGIBLE INCOMES

There was empirical evidence that most of government’s economic difficulties and the citizenry’s financial difficulties had been the lack of the vital resource-MONEY. Conversely, most of man’s miseries seemed to have stemmed from inaccessibility or when the stringency of “...Tax measures” were considered through parliamentary fiscal initiatives that seek to nibble away “...negligible disposable incomes.” Thus, there was irrefutable evidence that man’s life had been impacted both positively and negatively by the availability, accessibility, use and/or inaccessibility of this vital resource. The latter has induced creativity as may have been seen from the contentious legislative initiative respecting the “...Citizenship Invest Programme (CIP). Such was intended to generate revenues.

DARKEST HOUR

Then there are the critical need for money for the…elimination of illiteracy; ...homelessness and vagrancy;… crime and violence. More importantly, for providing adequate accommodation for 13 and 16 juvenile delinquents from being housed at prison; ...preventing truancy and teenage pregnancy; ...school pornography;…juvenile delinquency and civic programmes designed to eliminate a climate of fear in schools; thereby lessen reliance on “…deployment of personnel of security forces that may be “...inhibitive and/or counter-productive to learning;” …preventing squatting and squalor; …preventing certain acts of immorality; ...HIV and AIDS; …keeping away banks and other financial institutions and their auctioneers away; ...while avoiding the bailiffs of car dealership and household dealers at bay. These situations are contingent upon the vitally important resource-MONEY. These are representative of some of the most unpleasant, if not embarrassing situations that man may see as his “…DARKEST HOUR.”

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SURVIVAL STRATEGY

Thus, in monetary pursuits, the greedy had devised various ways in accessing it. As a consequence, the cunning individuals had acquired it, either through investment companies, middlemen or “…trickery, fraud and/or thievery.” On the other hand the “…NEEDY” had also been forced into developing other illegitimate means to survive. The sociologists had described their course of action as “…SURVIVAL STRATEGIES.” Their real crime is said to be one of “…Poverty.” Very often they had engaged in petty and street crimes or home invasion- “…breaking/entering/ stealing.” Recently, there had been a spate of robberies and house-breaking, in which robbery victims and house owners have reportedly suffered pain and substantial financial losses, inter alia, “...jewellery, electronic apparatus-computers and household and garden items.

RICH MAN/POOR MAN/BEGGAR MAN/THIEF

In a consumer-driven society, it is this resource that is urgently needed, not only by Finance Ministers, but also by the populace, to be expended by those living on the “…edge of economic disaster,” forcing many into adopting behaviors akin to dissoluteness. Such situation was reminiscence of the kindergarten nursery rhyme “…Rich man; ...Poor man; ...Beggar man, THIEF.” Social commentator Sir Mac Lean Emanuel knows only too well that when the “...Poor man “...Begs” and the “...Rich man doesn’t gee,” what the last man would do to society. This had manifested itself last week [Nov.14, 2012] at the “...Dog-protected” residence of Deputy Commissioner of Police Ivor David, when “...THIEVES,” reportedly brazenly broke and entered and made off with “...a Laptop computer, digital camera and a quantity of jewellery.” In every strata of society, some members could relate to one of these positions. They were either “...rich, poor, beggars or thieves.”

PRESSURES OF LIFE

Frequently, humans were tossed into an almost topsy-turvy state and unexplained moods of dejection and depression. Except for the mentally deranged, sociologists and psychologists were able to detect strange and/or unusual human behaviors. They were troubled, either socially or psychologically. However, even when it was not about money, those with a keen sense of observation were quick to see changes or abnormal behavioral patterns in people known to be stable and collected. Consequently, the scientists were able to determine that certain behavioral traits were the result of the “…PRESSURES OF LIFE.” Invariably, this had been worsened by an environment not conducive to the acquisition of affluence, wellness and/or happiness. Hence, many people who were unable to cope with “…life’s pressures” had often developed tendencies akin to suicide.

LACK OF DISPOSABLE INCOME

Conversely, when the citizenry felt the effects of “…national economic woes,” many had expressed frustration, dissatisfaction and discontentment over management of their nation’s economic resources. Experts knew that national economies had been wobbling and that many were likely to take or had taken nose-dives. Such knowledge was usually premised on certain “…economic indicators,” suggesting, inter alia; …lack of economic activity and growth; …uncontrolled balance of payments deficits; …inadequate revenue generation and collection; …soaring unemployment; … LACK OF DISPOSABLE INCOME; …high cost of living and the negative impact on the quality of life.” Global populations expected Ministers of Finance and Economy to find ways, “...creative or conventional,” in keeping the economy viable, sustainable and stable, more importantly keeping them gainfully employed. It was usually through this avenue certain taxes were derived.

ECONOMIC INACTIVITY

Without a shadow of doubt, the current economic crisis had sent many “...wealthy and impoverished nations and governments” across the globe, desperately groping for this vitally important resource- MONEY.” Some, reportedly had been collapsing due to “…economic inactivity,” evidenced by high unemployment and reduced revenue generation. Then there were the resultant effects of societal lawlessness; ...increased crimes and violence; ...chaos and turmoil and industrial and civil unrest among employers/employees and/or indigent peoples.

GLOOMY ECONOMIC YEAR

Such had been the effects of the predicted “...GLOOMY ECONOMIC YEAR.” However, Finance Minister Harold Lovell had considered it prudent in sensitizing the nation through such official outlook as to the possibilities in the slowing down of the nation’s economy. Many may now be wondering if social commentator Calypso Jim would still be justified in singing to the Honourable Minister “…You want ah cuff,” when they would have cried “…Things rough.”  Clearly not cowed over the social commentator’s suggestion that he too may need similar experiences for the state of the nation’s economy, he felt moved to inform the populace of the anticipated difficult state of affairs for 2012.

HOW SYSTEMS FUNCTION

Scientists had it that the earth spins on its axis. Such, it was said to be imaginary and maybe only felt when individuals were spun rapidly around, clock-wise or anti-clockwise or seen through the movement of the Sun. Factually, most mechanically propelled machines were made operable by fuel or electric power. Similarly, some electronic and/or electricity generating apparatus were also powered by energy produced from fossil fuel or solar systems. When there was no energy, all systems are shut down. As it affects national economies, financial experts had posited that they require “...financially driven factors” in stimulating economic activity. The experts, therefore, had identified inter alia “...foreign direct investments in stimulating economic growth and sustainability; ...creating employment opportunities that may result in revenue generation. Some believed that some business operations may also be incentivized as to make them more economically viable and sustainable.



ECONOMIC STIMULUS

The experts have argued that without “…ECONOMIC STIMULUS,” countries could face collapse and/or bankruptcy. For instance, when the US financial markets dramatically collapsed, mortgage, financial and lending institutions, including “…Freddie Mac and Fannie Mae; ...JP Morgan and Merrill Lynch,” virtually jolted the US economy out of control. Consequently, in order to halt the recessive slide, the US Congress moved unhesitating in approving US$7B in stabilizing the fledgling BARAK OBAMA’S administration. Such course of action was considered a stimulus necessary to stabilize the economy and financial markets, fuel economic activity and the creation of job opportunities for the American people.

FEAR/HATE/POVERTY

As a consequence, citizens may look not at the past, but also to the future for what may lie ahead. Accordingly, Finance Minister Harold Lovell may wish to implore each citizen, not only to endeavour to make sacrifices, but also those with the wherewithal to invest in a climate that may bring prosperity to their businesses. However, “...As gloomy as the Economy Looks,” and in light of current economic conditions militating against “…All endeavouring to achieving economic prosperity,” imploring citizens to, “…Gird their loins and …Join the battle ‘gainst “…FEAR, HATE AND POVERTY,” [National Anthem], may prove financially difficult for citizen’s facing its debilitating woes, living below the poverty line.

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