The world economy is in a chaotic crisis and no one seems to have the answer. The Covid-19 pandemic has silenced even the ‘untouchables’; that makes me laugh.
The US economy is facing a 100-per cent deficit; in other words, expenditure would soon equal revenue, and then head to the minus column.
Quite recently, I was listening to the UN Secretary General on HARDtalk, a BBC one-on-one interview programme which deals with world affairs.
The Portuguese national, Antonio Guterres, stated: ‘The reason why the Covid virus has brought the world to its knees is because of lack of unity on the world stage; each country just went about their merry way-haphazardly creating their own rules to deal with the pandemic, when it should have been a unified approach to attacking the virus.’
There is an old adage-‘unity is strength’, but all these world leaders have allowed their egos to get the better of them.
There is one good thing this pandemic has brought before our eyes-the lack of leadership and irresponsible behaviour from the world population. Each country wants to produce its own vaccine, as if ‘all hands on deck’ no longer serves the purpose. What sort of callosity is that?
The United States has the luxury of printing money to satisfy its needs which, to me, is an experiment in economic stupidity because all it does is sink you further into a debt crisis that you will eventually be unable to service. I hope Trinidad and Tobago never goes down that road.
I have noticed the finance minister has finally come to his senses and removed online shopping tax and computer tax. (By the way, he is not one of my favourite finance ministers; he hasn’t come close to Selby Wilson, Brian Kuei Tung and Gerald Yetming.) At present, we need another Ewart Williams as governor of the Central Bank; he was the best ever, having worked with the IMF for several years.
Dr Roger Hosein, Mariano Browne and Dr Winford James offer sound advice, but no one listens to them; and then we get to deal with people like Ancel Roget, David Abdulah, Watson Duke, Ralph Maraj, plus Hochoy Charles and others. What a mess we are in!
The world is in a debacle, and no one is prepared to take the bull by its horns. Our prime minister tried in his own way, but he was faced with opposition from all quarters. (Please don’t jump on my back because I am not a fan of Dr Keith Rowley; get that straight.) The world is filled with a lot of false prophets just making mischief at every turn. Politics is not the problem, but the politicians who practise the tricks. God, lend ah hand.