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The Jamaican Economy looks Gloomy
10/21/05
The Jamaican Economy looks Gloomy
As an ordinary everyday Jamaican with no official financial background except for my own personal finances I do believe that the future of this country is in jeopardy. Maybe I’m missing something but I can’t see the light at the end of the tunnel
Today the US dollar dropped further reaching the $64.00 dollar mark. The weighted average selling rate was Jamaican $64.01 for US $1.00. The Canadian dollar sold for Jamaican $54.47 and the pound sterling went for Jamaican $111.98. Unfortunately indications are that further weakening is expected. With the approach of the Christmas Holidays and the heavy demand for foreign currency to replenish stock further weakening of the Jamaican dollar seem imminent.
Follow up:
The constant speculations about the availability of crude oil world wide are also contributing to our gloomy future. The bottom line is that oil prices keep climbing. With each visit to the petrol stations the cost of fuel increases.
The costing of most commodities and services in Jamaica today is based on the rate of exchange and the price of gas. So in one hand the incomes remain constant while in the other the expenditures increase on a daily basis. You do the Math
One thing that could really help the economy is investments. Investors however are extremely wary because of the ever present crime elements in Jamaica. Extortion is also a factor which they are not prepared to face.
Everyday we hear of decreases in the productive sectors. Our agriculture is getting a royal beating form both Mother Nature and international price cuts. The banana industry has already suffered adversely and now the sugar industry is fighting for its existence with the EU proposal of a 37% cut in prices. Tourism is also affected by the high crime rate and Mother Nature.
Another factor that is cause for major concern is the continuous brain drain which is taking place. A lot of our bright progressive youngsters are leaving Jamaica to make a life for them selves. Not that I blame them, if I’m feeling so helpless at my age I can’t begin to imagine their frustration.
Old time people used to say, “No care how teacher cross, school boun fi gi recess”.In other words, ‘every cloud has a silver lining’. I hope they are right.
Nuff Love
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Reasons why I love my Jamaican Mom
1. My Mother taught me about ANTICIPATION.
"Just wait till we get home."
2. My Mother taught me about RECEIVING.
"You going get a ass'n when we get home!"
3. My Mother taught me to MEET A CHALLENGE.
"What di backside yu thinkin'? Answer me when me talk to you...Don't talk back to me!"
4. My Mother taught me CONSEQUENCES.
"If yu run cross de road an' cyar lick yu dung, a goin' kill yu wid lick."
5. My Mother taught me THE VALUE OF EDUCATION.
"If yu no go a school, yu a go tun tief or walk an' pick up bottle."
6. My Mother taught me MEDICAL SCIENCE.
"If yu tun over yu eye lid an fly pitch pan it, it a go stay so fi evva."
7. My Mother taught me to THINK AHEAD.
"Is not one time monkey goin' wan' wife"
8. My Mother taught me ESP.
"Yu tink a don't know what yu up to nuh?"
9. My Mother taught me HUMOR.
"If yu don' eat food, breeze goin' blow yu 'way."
10. My Mother taught me how to BECOME AN ADULT.
"Come an' tek yu beatin' like man."
11. My Mother taught me about SEX.
"Yu tink say yu drop from sky?"
12. My Mother taught me about GENETICS.
"Yu jus' like yu faada."
13. My Mother taught me about my ROOTS.
"Yu tink mi come from "Back A Wall?"
14. My Mother taught me about WISDOM OF AGE.
"When yu get to be as ol' as me, yu wi understan'."
15. And my all time favorite... JUSTICE.
"One day wen yu have pickney, a hope dem treat yu same way."
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