Trinidad & Tobago Inflation 10% - Page 24
Title: Junk status economy
Comments: Well,well,well, I see the international organization Moody's Investors Service has downgraded T&T to what the investors call 'JUNK' status. Which was followed by the downgrading of the status of our nation by another well known American firm dealing in financial matters of the world's nations. What ever happened to our economy and rich status in the Caribbean ?. After all, these so-called local brilliant politicians dealing in financial matters here must have seen this coming,and should have done something meaningful for our future survival,instead of their reliance only on the income from gas and oil. Politicians just can't go on milking the Treasury funds to satisfy their personal greed,plus allowing the criminals to rule the roost without dire consequences which we are now faced with. The repercussion of all this upheaval is now going to be felt not by the already well off here but by the ordinary citizens who will have to pay the price to keep the already wealthy in good stead. With the depletion of our oil and gas resources.(And the waste of money in trying to find more of these commodities, as we have run out of these resources due to over producing to meet especially the personal financial needs of our so called smart politicians and foreign investors).. What is likely to happen in the near future?. Your guess is as good as mine, bearing in mind that almost all of our other once local profitable resources and long established industries such as sugar production has been deliberately shut down, because they could not compete with the quick gain and access of money made from oil and gas.. With no real attempt to implement diversification, our future looks very bleak indeed.The only thing that is certain here now, is more pulling of the wool over the eyes of our vulnerable ordinary citizens by those in power and in positions of authority to quell the anxieties of those citizens.