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Trinidad & Tobago Bailout - Page 2

OK to be the one who ignites trouble, here I go again on my own. People are telling Trinis to slow down on the spending because we are going into a recession. Makes a lot of sense doesn't it? If we look at it either way, people will criticize, so here goes my view. Now as a person who never did economics in school, I ask all the 'specialists' here. What causes a country to go into a recession? Now because we are supposed to be constructive in our replies here, I will answer that question from my point of view. The way I see it, is that if people will start spending less, then businesses will start losing their profits because of less sales. The business must makes cutbacks to survive. These go from taking less stock to having less employees. Yes you heard me right, less employees, meaning some people will lose jobs. If a business keep cutting back, it reaches to the point where it cannot 'make' anymore so the business closes down. This means all employees now jobless and also the public is less one service that particular business offered. Now if that business was the grocery around the corner, you will say well I can go the next grocery at the next corner. What if, however, that grocery was TruValue or HiLo? We are talking about hundreds of jobs and yes less places to get our groceries. Do you all see what I mean? So telling Trinis to spend less or wiser to me is the fastest way for Trinidad to reach into a recession.

P.S. For the person who asked if the car industry is next for bailout. Do you go out much? opps sorry that wasn't very constructive. What I meant to say was that do you realize that PCL has reached 6000+ and I think I am being behind, someone just told me that he saw 700 something. A series here takes 3 to 4 months to complete and that has been happening for a long time now. Why do you think we have a traffic problem? or maybe that is the fault of the government too.

Edited: lordryoko on 11th Feb, 2009 - 2:54am

Bailout Tobago and Trinidad

I need a bailout

I have been observing the arrival of the global economic meltdown to our shores. It has since claimed Mr Duprey's billion-dollar empire-CLICO and its subsidiaries. It is with great interest that I watched the Government in a swift and decisive move offered assistance to the cash-strapped conglomerate. This move was appropriately titled by some as a "bailout". Ref. Source 6

Trinidad & Tobago Bailout Caribbean / Tobago & Trinidad

Bahamas PM: Real estate deal compromised CLICO

Bahamas Prime Minister Hubert Ingraham says CLICO (Bahamas) Ltd, a subsidiary of cash-strapped CL Financial, paid US$73.5 million in cash advances towards a real estate project in the United States that had a "reputed value of US$80 million". This, he said, "compromised its financial integrity". Ref. Source 6