Wednesday, October 19, 2016

T&T's Incremental Income Tax of 30% on Income Above $1 Million Misguided....

Incremental Income Tax of 30% on Income Above $1 Million aka The Tax to make the Trinidad & Tobago economy even more uncomfortable for the persons who are the most productive, take the most risks, add major value and/or create the most jobs.

Apparently these same miscreants need to "pay their fair share"

Sadly budgetary policy based on class war fare and envy is now the order of the day.

P.S. these higher income earners who obviously are quite sophiticated with find find creative ways of legally avoiding the tax e.g. larger expense accounts, paid vacations, company vehicle, company housing etc.

Wednesday, October 12, 2016

Anaemic T&T Economy Suffering Under Bloated Government

Trinidad & Tobago's economic troubles are simple. There are too many people ridding in the wagon and not enough people pulling the wagon. Of course the ones ridding in the wagon are the politicians, the politically connected, government contractors, "public servants" etc who consume resources but not produce. 

Even worse are the bureaucrats who further drag down the economy by impeding productive citizens via rules, regulations and policies they dream up. In years past the largesse could have continued fairly unnoticed; however now that the country's resources have become ever more scarce the the problems are becoming even more glaring. 

Looking for "additional sources of government revenue" is not the solution; rather reducing the parasitic nature of state is the appropriate and moral option. 

Thursday, July 14, 2016

Child Labor and Globalization

Nothing wrong in buying goods produced with child labour. Best way to "save the children" is increased trade with countries with child labour. 

Monday, June 27, 2016

Formal education isn't for everyone--Thomas Sowell

How Education Gets Watered Down in a Government Controlled Education System

Thursday, April 14, 2016

The Truth About the Trinidad and Tobago Economy

The Trinidad and Tobago economy is spiralling downward; and while the government of the day attempts to arrest the situation they fail to fully grasp the real cause of our anemia. 

At the core of our economic deficiency is not low energy prices. This is tantamount to an over weight person commenting that the cause of their obesity is high caloric food. No. The cause of your obesity is your indiscipline and lack of self restraint -as politically incorrect as it may sound. In other words behaviour and character flaws of the person or country in question must be identified not exogenous factors. 

Trinidad and Tobago has a simple problem which is not being identified by politicians, bureaucrats and intellectuals who all feed at the TTTT the Trinidad & Tobago Treasury Trough in some form or fashion and have a vested interest in maintaining the status quo. 

Tuesday, March 22, 2016

Median US Household Income for Various Ethnic Groups

Culture, the content of your character and work ethic more important and skin colour. 

Via NYT:

There are some black and Hispanic groups in America that far outperform some white and Asian groups. Immigrants from many West Indian and African countries, such as Jamaica, Ghana, and Haiti, are climbing America’s higher education ladder, but perhaps the most prominent are Nigerians. Nigerians make up less than 1 percent of the black population in the United States, yet in 2013 nearly one-quarter of the black students at Harvard Business School were of Nigerian ancestry; over a fourth of Nigerian-Americans have a graduate or professional degree, as compared with only about 11 percent of whites.

Monday, March 14, 2016

Arcelor Mittal Should Die a Natural Death

In short, Arcelor Mittal should go into bankruptcy and all its assets frozen and put up for sale to recoup funds necessary to pay its creditors without any government involvement. 
As with normal bankruptcy proceedings investors, creditors etc. would have to join the pecking order to receive portions of outstanding debts. 

No pumping of tax dollars into a failed company, no tens of millions of dollars on a moot commission of inquiry with high priced lawyers, no selling of assets at discounted prices to political friends, no corporate welfare or bail out. 

Surely, workers would permanently loose their jobs but this is the risk involved in operating in any market place. 

Workers are now free to serve other citizens of Trinidad and Tobago's market place - i.e. a form of "creative destruction".

When it is all said and done; poor assets would have rightly been liquidated and other entrepreneurs would have the opportunity to purchase these assets and apply a more sound business models. 

Note well that failure also serves as a warning signal to other companies to avoid undue risk and mismanagement. 

P.S. This philosophy should also apply to state companies.

Monday, February 8, 2016

The Truth About the Zika Jumbie

Would recommend persons in Trinidad and Tobago watch this interview before they frantically consider aborting babies and/or delaying child birth due to the supposed Zika jumbie hiding under our beds. 

James Corbett is a respected alternative media source while Jon Rappoport is an award winning investigative journalist. Well worth viewing. 

The Truth About the Zika Virus: Jon Rappoport on The Corbett Report

Thursday, January 14, 2016

Political Correctness Doesn't Trump Property Rights

On the night of Friday Dec 11th, Aria Lounge staff on Ariapita Avenue denied the “ladies only free entry 9.30—10 pm” policy to a female club patron, because, according to the club said she was “projecting the image of a man” and therefore had to pay a man’s admission fee.

In short, Aria should be defended over its decision to deny entry for what ever reason to any potential patron it doesn't want on its premises. The debate that should be had which all the "legal scholars" and opinion leaders have not acknowledged is the nature of private property rights. 

Society and civilization doesn't work when one or more rambunctious persons seek to use a mob or the strong arm of government via political correctness to diminish the property rights of another.

Do remember that that the very essence of property rights postulates that ownership must include the ability to exclude others from using ones property. 

Therefore if a homeowner or club owner or grocery owner cannot exclude others from the use of his property then the owner does not actually own it, for without the right to exclude, the “owner” is reduced to little more than a hapless caretaker.

Wednesday, January 13, 2016

Asking a Woman’s Father For Her Hand In Marriage

By Brett and Kate McKay
So you’ve stopped hanging out with women and started dating them. Consequently, you’ve found a woman who has become your best friend, and you know she is the one. Things have been serious for quite some time now and you’re ready to take your relationship to the next level: marriage.
One tradition that has been slowly fading away from Western society is asking a woman’s father for her hand in marriage. Many argue that the whole idea smacks of sexism and chauvinism and harks back to times when women were treated like chattel.
Whatever. I think it’s just respectful to ask your future bride’s father for his blessing as you start down the path towards matrimony. It lets your girlfriend’s father know that you’re sincere in your intentions and a true gentleman. It’s an important tradition, a rite of passage, and a bonding experience between you and your future father-in-law. Plus, most women we asked think it’s a sweet gesture.
But it’s no easy task; the experience can make any man a nervous wreck. I remember when I had the talk with my father-in-law; I was sweating bullets. Hopefully, the guidelines that follow will help ease the stress and make the experience bearable if not enjoyable.
1. Talk to your girlfriend first. Before you go and sit down and talk man-to-man with your potential father-in-law, make sure you and your girlfriend are on the same page as far as the whole marriage thing goes. Is she ready to commit? Does she even want to get married? If so, how soon does she want to get hitched? You don’t want to get your girlfriend’s father’s blessing to marry his daughter, just to have his daughter turn you down when you propose.
2. Try to meet him before you ask. If it’s possible, try to meet your girlfriend’s parents a few times before you decide you want to marry her. While my wife and I were dating, I had the opportunity to visit her parents on several occasions. I got to know them rather well before we got engaged. It made sitting down with her dad and discussing my wish to marry his daughter a bit easier because we had already established a relationship. Again, not all situations will allow this, but if you can, do it.
3. Sit down with him man-to-man. There are several ways you can go about this, and I think it all depends on what kind of man your girlfriend’s father is. Consider taking him out to dinner or going to a bar or coffee shop. Breaking bread with him might make the situation a bit more comfortable. If that’s not a possibility, during a visit just ask if you can speak to him in private. If her dad lives far away, try to time the conversation for a trip home which has already been planned, perhaps during the holidays. If this is not possible, it’s okay to conduct the talk over the phone.

Read the rest of the article.

Thursday, January 7, 2016

Debunking the notion: "Better salaries for MPs could reduce corruption"

Expert: "Better salaries for MPs could reduce corruption" 
"This is the hypothesis of parliamentary oversight expert and World Bank consultant Prof Rick Stapenhurst, who delivered a lecture on Tuesday evening at the Hamilton Maurice Room, ­Tower D, International Waterfront ­Centre, Port of SpainIn response to a question on whether there was a correlation between increased compensation for MPs and a reduced level of corruption, Stapenhurst said: “I would think so.""Via:
Government essentially a high priced auction
While attempting to eliminate or reduce corruption is a noble endeavor paying "Public Servants" higher salaries is not the solution. 

On the contrary the very nature of government ensures corruption will remain a pervasive scourge on Trinidad and Tobago.

A higher salary would never be enough compared to what rent seekers are willing to pay to get politicians to act in their favour. 

The flawed political system essentially bestows inherent power upon politicians to disburse massive tax revenues at the discretion of the politician. They have the power to award and cancel contracts, give hand outs, approvals and special favours. 

What should be done therefore to mitigate this unpleasant reality? Shrink the power, scope and size of the state, thereby limiting the politician's ability to dole out favours and tax payer dollars at their discretion. A gradual move to a less centrally planned more free-market environment with smaller government, would lead to less corruption in the distribution tax dollars.

Wednesday, January 6, 2016

Milton Friedman: Illegal Immigration Only Helps When Its Illegal

In the T&T context because of the limited availability Trinidad and Tobago workers due to generous social welfare programmes and make work programmes like CEPEP illegal Guyanese, Jamaican and Indian workers etc end up filling employment vacancies. 

Friday, November 20, 2015

Who’s Making A Killing From the Paris Terror Attacks?

By Daniel McAdams

Terrorism is great for business if you’re in the business of growing the government leviathan. The bodies in Paris are not yet buried, while the vultures with dollar signs (and pounds and Euros, etc) in their eyes have already swooped down for a feast.
Terrorism, what is it good for?
1) The military-industrial-Congressional complex: Thanks to Glenn Greenwald for bringing to light the enormous profits that are already rolling in for the merchants of death as Paris still smolders. As Greenwald points out, the markets could hardly wait to start buying from these military suppliers:

Thursday, September 3, 2015

Why The Govt, Media and Academia Hate It When You Don't Vote

Voting is the holy sacrament of politics and it is greatly frowned upon by the state, media, academia etc if you decide not to participate.  

It disturbs politicians and the politically connected that some people do not subscribe to the notion that politicians should be supreme rulers -this weakens the powers at be and undermines and demystifies politicians and their authority. 

These are the ideas politicians and their friends fear and work hard at dismissing. Imagine what a scare for the politician if no one showed up election day. Politicians would lose the affirmation of somehow being superior along with the authority to tell us what to do and spend our money!

Thursday, July 16, 2015

The PNM / UNC / COP / ILP Political Manifesto Cheat Sheet

Because we should not expect much in terms of policy proposals and manifestors during the current Trinidad and Tobago election cycle, here are some proposed ideas either the People's National Movement (PNM), United National Congress (UNC) or any of the political parties can consider for presentation on their political platforms ahead of the general election in 2015.
  • Increase the Personal Tax Allowance Immediately to $120,000
Under T&T's tax system implemented in 2006 all individual taxpayers are granted a Personal Allowance of $60,000 per year. This means that you do not pay income tax on your first $60,000 of income and 25% on amounts above $60,000. 

Since 2006 however inflation which has averaged a minimum of 9% has stolen purchasing power away from salaried workers and persons on fixed incomes. At the same time food prices have averaged annual increases of 17%. 

To mitigate this patently unfair reality the personal tax allowance should be expanded equivalent to the rate of inflation which means tax allowances in 2014 should be at least $117,000. Any intellectually and morally honest Ministry of Finance should embrace this principle so as to offer relief to an already over taxed population

Monday, June 15, 2015

Trinidad and Tobago's Foreign Exchange Shortage Not Just Bad for Business - It's Worse For Individuals

Everyone agrees the shortage of foreign exchange is bad for business. It limits the ability of the business community to purchase imports which are in turn offered for sale locally. 

While the Central Bank of T&T issues regular press releases of how much $US it has pumped into the system; individuals not connected politically or to the commercial banks don't have access to these injections.

Its obvious, that given the severe declines in energy production and consequent declines in exports ($US earnings) there will be increasing scarcity of US dollars locally. This, coupled with the fact that the T&T government continues to flood the economy with newly minted $TT to fund social programmes 
means the $TT is losing value rapidly. 

Wednesday, June 10, 2015

These 19 passports (T&T's included) will be a lot more valuable on July 1st

by Simon Black

That last one is a major issue, because travel is a huge opportunity.

It seems strange that a complete accident of birth has such a massive impact on someone’s life.

We don’t get to control where we’re born. It’s a fluke really. Yet as soon as we come into this world a particular nationality is thrust upon us like a birthmark that stays with us for life.

Our nationality dictates so many things throughout our life.

Friday, May 15, 2015

Who Wants To Be A Millionaire Politician?

Why would any private citizen want to become a politician? Many current and aspiring politicians are qualified professionals, with at least average ability to earn a living in the marketplace; often higher than a ministerial salary. 

Their names and families are / will be frequently slandered in the news media and they endure microscopic scrutiny by the public. Yet many voluntarily and eagerly put their feet towards the fire. Are these politicians or potential candidates so altruistic and sacrificial in nature? Do they somehow possess an innate insatiable desire to seek the public interest? 

Tuesday, April 28, 2015

The Art of Bribing

By Jayant Bhandari

Many years back, a relative in India was trying to transfer a property that he had bought. He had failed to offer a bribe, had rubbed the fragile ego of a bureaucrat the wrong way, and now an inked-note on the file was pre-empting the transfer.

The bureaucrat was enjoying a certain kind of pleasure from making my relative run around in desperation.

To hurry things up, my relative decided to take help of a Minister in the government. To my utter surprise, the three of us went to the bureaucrat—I had thought the bureaucrat would come to the Minister’s office. After much pleading, we were told the property could not be transferred.

A note had been made in ink and now it was not possible to undo the damage.

The property, we were told, would not be transferred.

A cash contribution to the Minister for “electoral campaigning,” despite that there were no elections in sight, had been wasted.

A few months later, we again ended up in the same bureaucrat’s office, but without the Minister. On this occasion, a bribe had been pre-arranged. The transfer was quick.

Tuesday, April 14, 2015

The Politically Incorrect Guide to Acquiring A Home in T&T - 35 Tips, Tools and Tricks

Acquiring a personal residence in Trinidad and Tobago especially for the young and middle aged working class is not easy -but not impossible

As I've outlined before the state is the primary culprit making home ownership cost prohibitive by indiscriminately expanding the money supply (money printing) thereby causing inflation. The state also limits the supply of new homes via a burdensome regulatory bureaucracy (Town & Country etc) . 

That being said you can refuse to be a victim of state oppression by adopting lifestyle habits that will offer you a better opportunity at financial independence and success. So called leaders will tout a government "solution", but be forewarned this is an oxymoron. On the contrary a politician does not offer independence and autonomy; rather he seeks to create dependency and reliance to secure political control. 

At the risk of being politically incorrect and offending people in society who are believed to have a disadvantage here are some quick tips that will help you on your journey to home ownership and/or financial success.

  1. Don't do drugs
  2. Don't engage in high risk sexual activity 
  3. Avoid becoming a single mother / father
  4. Don't chase women / men (they deplete your resources)
  5. Get married, settle down - two incomes can achieve more than just one
  6. Avoid gambling even on a small level - play whe, casinos etc
  7. Cut out alcoholic consumption
  8. Don't smoke

Wednesday, March 18, 2015

The Minimum Wage In Trinidad & Tobago

On January 1st 2015 Trinidad and Tobago's minimum wage was increased from $12.50 to $15.00 per hour. Ironically most workers in T&T earn more than the mandated $15.00/ hr anyway, because of inflation and economic crowding out (i.e. wages being bid up because of excessive government demand in the labour market). Therefore the negative effects of the minimum wage in T&T will be contained.

Thursday, March 5, 2015

Trinidad & Tobago's Distraction of the Week: Bullying in Schools

Trinidad and Tobago's most recent distraction of the week is the "bullying epidemic" in schools. There should be no surprise that violence and indiscipline in schools are on the rise as a result of decades of failed government education / social policy including but not limited to:
  • The removal of corporal punishment in schools for political reasons.  
  • Political pandering to the Trinidad & Tobago Unified Teachers Association (TTUTA) that ensures there is no accountability or repercussions for teacher non performance.
  • The dwindling number of male teachers and administrators -who because they are primary breadwinners will not consider teacher as a financially viable occupation due to the rising cost of living caused by bureaucracy, taxes and government created inflation via the Central Bank expansion of the money supply.
  • The rendering of fathers in some homes redundant as a result of extensive public assistance options geared towards single mothers and women in general. 

Saturday, February 21, 2015

How the T&T Central Bank Expands The Money Supply and Devalues The $TT

In order to obscure the role of the Trinidad & Tobago Central Bank (TTCB) in stealing wealth via legalized counterfeiting the TTCB like other central banks engage in a scheme called "Open Market Operations." 

The term itself is a euphemism as it is neither open nor a market phenomenon; rather its a technique that furthers increased government spending at the expense of the unsuspecting working class.

On one hand, to directly fund government spending the TTCB sells government bonds. On the other hand, the TTCB subsequently buys back government bonds by increasing Commercial Bank balances electronically held at the Central Bank as payment. The money supply therefore expands and causes inflation.

Tuesday, January 20, 2015

Wondering Why Trinidad Fete Prices Are So High?

Thank your Government (Working For You) and the Central Bank of Trinidad and Tobago. 
Data source: Central Bank Trinidad & Tobago
When the Central Bank increases the money supply (prints money or electronically puts it into circulation) prices of everything go up; since each individual dollar becomes less valuable. 

Monday, January 19, 2015


By Thomas J. Sowell

Some time ago, burglars in England scrawled a message on the wall of a home they had looted: "RICH BASTARDS."

Those two words captured the spirit of the politicized vision of equality — that it was a grievance when someone was better off than themselves.

That, of course, is not the only meaning of equality, but it is the predominant political meaning in practice, where economic "disparities" and "gaps" are automatically treated as "inequities." If one racial or ethnic group has a lower income than another, that is automatically called "discrimination" by many people in politics, the media and academia.

Wednesday, December 24, 2014

20 Years in a Cage for Possessing Forbidden Plants

According to a recent report an accused, 62-year-old Dennis Sandy alias ‘Bow’ of Lowkie Trace, Penal was ordered to serve a 20 year prison term after being found guilty of trafficking marijuana in 2007 — four bags — with a street value of $.5 million.

Justice Rampersad justified his sentence on the grounds that the judiciary must send a clear and unambiguous message to persons of like mind, that marijuana trafficking is detrimental to society.

What the Justice has failed to realize is that is by his very judgement he has all but destroyed Mr. Sandy's life, and severely damaged his immediate family; while at the same time placed a further premium on the price of marijuana, thereby making the drug trade even more lucrative and attractive.

Thomas Sowell - Culture Matters

Dr Sowell explains why culture is the single biggest determinant of financial success not race, gender or political connectivity.

Monday, December 15, 2014

The Sir Solomon Hochoy Highway - Cable Barrier Racket

Unfortunately traffic accidents inevitably occur on the highways of T&T and their outcomes are far worse when vehicles cross the median and collide with bystanders heading in the opposite direction. 

The state in predictable fashion has used this unfortunate reality to further fleece taxpayers. 

Instead of the installing the most suitable and cost effective road restraint system the Ministry of Works has opted for the most ineffective and most expensive option so that they can line the pockets of their political cronies. 

Wednesday, November 19, 2014

A "Political Solution": An Oxymoron

In the long run politicians and politics don’t produce “solutions” to any issue or problem. In fact, most major societal problems are as a result of government interference into family and social life in the first place. 

Be it government created inflation (money printing), taxes, corruption, welfare or the drug war, all serve to destroy the family and society.

Any government intervention ultimately produces arbitrary winners and losers, impositions, unintended consequences, corruption, cultural and racial animosity and destruction of voluntary market interactions and wealth. 

Tuesday, October 28, 2014

It's Starting: Russians and Chinese Are Ditching the US Dollar and Europeans Are Using Renminbi in Their Reserves

By Simon Black

At present, US dollar accounts for roughly 61% of the world's foreign exchange reserves.

It's still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it.

Between those with reserves in and pegs to the US dollar, many countries have given their allegiance, and now have a vested interest in the health of the currency.

Due to this common interest, a sort of unofficial, involuntary alliance has been formed between them all.

Together, they’re all playing along, pretending that everything is fine. If the dollar collapses, they're all screwed, so they've got to get each other’s backs.

From the throne of the world’s reserve currency, the Federal Reserve, with the power to print the US dollar, feels dangerously omnipotent.

They can get away with just about anything. For now.

Tuesday, October 21, 2014

Police Force Goes on Strike, Residents Pleased

What would happen if the police went on strike?  Would all of your once friendly neighbors become thieves and murderers? 

Or would the peaceful majority quickly begin to self organize to protect one another from the few in their communities who actually are thieves and murderers?

Despite conventional wisdom societies don't actually descend into complete chaos. After all public police forces were not imposed on the populace until the middle of the nineteenth century in the United States and Great Britain.

Monday, October 13, 2014

Myth - T&T Needs Big Government To Redistribute Oil & Gas Wealth

Trinbagonians have been comprehensively convinced by a state funded and controlled school system to believe that the T&T government must comprise a large percentage of the T&T economy to redistribute oil and gas wealth; otherwise T&T's patronage would be siphoned away by foreigners.
Overlooked however is current and historical government energy policy that imposes extremely high barriers to entry on companies wishing to enter the energy space ensuring only large multinationals can participate. 

Monday, September 22, 2014

Government Shouldn't Be In The Housing Business

According to recent reports $227 billion would has been spent nationally from 2010 to 2015. Data provided by the HDC shows that from 2010 to present, the HDC has allocated 4,902 houses to new homeowners.

A simple calculation would indicate that each of the 4900 houses delivered many of which had design deficiencies and poor workmanship cost the taxpayer a staggering $46,000,000 per home. 

In fact given that the gov' t builds homes primarily on state lands with the typical modest home construction costing around $600.000 privately, the state should have delivered 378,000 homes for the price tag of $227 billion.

Of course; most of the money was siphoned away by the politically connected; even whilst housing applicants are lulled into a state of paralysis waiting for an illusive substandard home -instead of trying to acquire a home privately.

Thursday, September 18, 2014

The Public Sector - The Most Fertile Environment For Discrimination and Ineptitude

Although the government presents itself as a selfless crusader for justice, fairness and equality, it is the very institution most guilty within society of discrimination, nepotism and cronyism.

The above are the inherent features of the state for they do not exist in a competitive environment where decision making is based on performance and service to a paying customer who has an option to take their business elsewhere. Only competition ensures the consumer is best served by unbiased decision making, for biased decision making jeopardises owner's profitability. 

In the Tunapuna market for example, if a vendor decrees he would not be selling his tomatoes to persons of a certain political party he not only would be summarily hooted out the market; he would ultimately deprive himself of sales to a significant number of paying customers. 

Wednesday, September 17, 2014

Ukrainian Mob Throws Politician Into A Dumpster - He Probably Should Have Taken An Armored Vehicle Home

Tom Ley reports:
An angry mob was waiting outside of Ukraine's parliament today, and they were not playing games. When they spotted Economic Development Party member Vitaly Zhuravsky leaving the building, they grabbed him and threw him into a dumpster.
It's not clear exactly what Zhuravsky did to deserve getting himself thrown into a garbage receptacle, but as NBC News points out, it probably had something to do with the fact that he has a history of trying to pass bills that would crack down on anti-government protests. He's also fond of suing the press for saying things about him he doesn't like.

Youtube link here
Astutely, the T&T politician has purchased armored vehicles, stockpiles of ammunition; and the police service has increasingly become militarized to ensure the safety and security of the political class when the economic "crap hits the fan".

Tuesday, September 9, 2014

Predictable Consequences of Centralized Power in Cuba

As power becomes more centralised in the hands of imperfect human beings comprising a ruling class, it will most certainly be abused to the detriment of the masses. This is true of communist countries like Cuba or countries embracing communist or centrally planned policies. According to former bodyguard to Fidel Castro, Juan Reinaldo Sanchez; Mr Castro secretly enjoyed an opulent lifestyle even whilst cubans suffered poverty and austerity. 

Friday, August 15, 2014

Seven Things You Should Do To Make A Difference in T&T

The Emperor has no clothes!
The size, scope and role of the T&T government is now so large and distorted that unless the state's role and expectations of the state are curbed continued moral and economic depravity will ensue unabated

For the more power mystically ascribed to government the more vulnerable the citizenry to abuse and perennial looting.

What can one do to combat this decomposition?

Individually you should do everything in your power to deflate the mistaken belief the state in its bloated corrupt form is necessary and legitimate. For without the tacit support of the state’s legitimacy, it could not engage in such wanton indecency. 

Monday, August 11, 2014

The Truth About "Power to the People" - Deconstructing The Constitution Amendment Bill

The state circus surrounding the "Power to the People" campaign only serves to dupe the masses into acquiescing to greater political exploitation by offering false, inconsequential political choice. 

Amendment 1: Term Limits for the Office of Prime Minister

"With this amendment, the President shall not appoint as Prime Minister a person who has previously served in that office for two full terms or for an aggregate of at least ten years and six months."

A mere distraction to appear self righteous and sacrificial, while at the same time transferring the power of appointing the Prime Minister to political party leadership and financiers.

Wednesday, August 6, 2014

No Virtue In Giving Away Other People's Money

With the population inundated with government propaganda promoting supposed government "generosity" it becomes increasingly important to remind citizens that there is no virtue in giving away other people's money.

Consider the definition of the word "generosity": willingness and liberality in giving away one's money, time, etc

Note that politicians do not give of their own time or money, rather they tax Peter, line their pockets and pay Paul, while taking credit for paying Paul.

Wednesday, July 30, 2014

Absent The T&T Central Bank There Would Be No $US "Shortage"

In a local free currency market, absent the Trinidad & Tobago Central Bank regardless of how "limited" the supply of US dollars, there would never be any "shortage" -where a would be purchaser cannot find $US available at the market price in $TT. 

For in a liberated currency market there is always enough supply available to satisfy demand at the market clearing exchange rate.

For example if there are severe declines in energy production and consequent declines in exports ($US earnings) there will be increasing scarcity of US dollars locally. This scarcity would be "rationed" voluntarily to the purchasers of US dollars by the uncoerced rise in the exchange rate, a rise sufficient to equalize supply and demand. 

Tuesday, July 22, 2014

The More Relevant Question: What shouldn't government do?

When a growing government and the politically connected enjoy the spoils plundered from the population it is substantiated on the basis that an elite ruling political class inevitably exists for society to function. 

Via T&T's government funded education system the population is taught that the political class are especially special, wise and benevolent, exceedingly superior than members of the general population.

Monday, July 14, 2014

How the Drug War Drives Child Migrants to the US Border

By Dr. Mark Thornton

Most attentive parents today rarely allow their children to go unsupervised, particularly in public. It starts with the wireless baby monitor for the crib and ends with the ever-present cell phone at college graduation.

This is what makes reports from the US-Mexican border so perplexing to most Americans. It is hard to believe that parents would send their children, even young children, to travel many hundreds of miles, up to 1,600 miles without guardianship, or under the control of “mules” who guide the children with the hope of a safe voyage to the United States.

The journey is both harsh and dangerous. The northern regions of Central America (i.e., Guatemala, Honduras, and El Salvador) and Mexico are some of the most dangerous areas of the world. The climate can be harsh, roads and travel conditions are mostly poor, and the children are subjected to robbers, kidnappers, rapists, government police and soldiers, drug cartel members, and bandits of all sorts.

Friday, July 4, 2014

Helping Laventille to Become Helpless

Apart from the criminalization of drugs which inflates drug prices to the benefit of producers, traffickers and gangsno other single factor has contributed to the socio economic decline of Laventille and its environs than the billions of taxpayer dollars spent "helping" Laventille.  

Sadly, more people are living in fear and in substandard living conditions in East Port of Spain and Laventille today than 20 or 30 years ago. 

This unfortunate reality has come about in spite of a heavy concentration of welfare dollars via social programmes such as the URP, Food Card Programme, CEPEP, Targeted Conditional Cash Transfer Programme and other make work programmes.

These programmes all seek to undo the consequences of poor individual moral choices. For poor moral choices typically precede poor personal financial outcomes in the long run. These poor moral choices include casual, unprotected premarital sex and apathy towards educational attainment, deferred gratification and hard work

Wednesday, June 25, 2014

US Lead War in Iraq Will Not "Stimulate" US Economy

As the US continues to slide economically with dire consequences for the Trinidad and Tobago economy, economist will postulate that escalating sectarian conflict in the Middle East which could trigger another US lead war will be economically beneficial for the US. 

The above however is false -as wars and military engagements drain limited economic resources that could otherwise have been utilized more productively. Ultimately wars only serve the economic interest of the politically connected military contractors and the military industrial complex at the expense of taxpayers.

Although in the short term higher oil / gas prices will increase T&T's revenues; after the dust settles the US will be deeper in debt and further compromised economically.

Saturday, June 14, 2014

An Underlying Cause of Child Neglect and Abuse in T&T

While Trinidad and Tobago remains shocked and dismayed by the recent spate of child abandonment and abuse incidents many religiously look toward the government as the messiah. Yet they fail to recognize that the family and societal dysfunctionality is as a direct result of a parasitic state apparatus sapping productivity and purchasing power thereby placing major strain on the family unit.

Consider that inspite of the growth in the budget, the scope and presence of the various regimes of the last 51 years the society and the culture in Trinidad & Tobago is in decline. Why is this? It is because the growth of government comes at the expense of the individual and the family. 

Tuesday, June 10, 2014

Putting The Phoenix Park Gas Processors Limited IPO In Perspective

Once again given the limited investment options caused by onerous, unnecessary securities regulations and the excessive liquidity in the T&T economy caused by Central Bank monetary expansion (legalized counterfeiting) everyone is clamouring for the upcoming PPGPL Initial public offering (IPO).

Although the business model appears sound buyers should be cognisant of the potential downside risks that are not being mentioned. Prudent investors would be wise to note the following: 

1. ConocoPhillips would not have disposed of a top performing asset to begin with inspite of the rationale provided for the disposal. Often times when the going gets tough energy majors bamboozle clueless governments like the T&T government to overpay for assets that they deem to have outlived their usefulness.

2. Petrochemical plants and infrastructure are normally amortized over 20 - 25 years which is consistent with their normal useful life. Coincidentally PPGPL is 25 years old; granted they would have been doing on going upgrades / maintenance, however PPGPL's infrastructure may likely need major turnarounds / maintenance soon. 

Thursday, May 29, 2014

Five Popular Excuses For Government Failure

Government provision of goods and services will always leave consumers and taxpayers wanting, because of the absence of a profit motive. "Public servants" will never be fully motivated to serve the public as there are no conferred benefits for performance or negative consequences for non-performance. 

Here are five common excuses for government non performance. 

1. The existing legislative framework is inadequate - Obviously, we need to enact new legislation and create another regulatory agency so that we can avoid this failure in the future!