The morning after: Doom & Gloom

Last night, at the end of 130 days in government, the MinFec addressed the nation demanding Courage and Financial Maturity, as she was preparing for her trip to the Netherlands in order to borrow 743 million florins, the amount required to float out boat in 2018.

If we submit to inspection and behave the interest charged on that jaw-dropping ka-ching-ka-ching will be bearable.

The MinFec did not mess around, she is a good speaker, her cadence was steady and she did not fidget too much under the camera’s lens. Hair, jewelry, dress, she gets a 10 for that. The content of her speech was straight forward, not flowery, and she did not repeat herself excessively. Most politicians think they are talking to idiots, and phrase and rephrase everything five time in one sentence, in an effort to make themselves clear. The MinFec is a moderate repeater, not an offensive one, so I listened for about 20 minutes then ran to the bar for a stiff drink during the home stretch.

She was brutal from the start: In 2009 before the disastrous AVP government our debt to GDP was 49% and having gained momentum under irresponsible spending it now stands at 93%.

Congratulation Magic Mike, as a result of your fearless leadership we now owe 93 cents on every florin we make.

Which amount to 4.3 BILLION florins.

To add insult to injury, there are 50 million floating around in uncollected taxes. The refinery delusion is finally flushed down the toilet.

The offenses are many, and while NO ONE GOT PAID, except government employees, the 2017 budget concluded with 130-million-florin extra deficit, for a total of 216 million in the red, for just one year.

I can go on. But it’s pointless.

We are in poop up to our eyeballs. Our financial credibility is shot and we might not have access to capital if we continue drinking and dancing.

Sad speech. It had a fatal glitch towards the end where the editor fell asleep and repeated the sound bites excessively.

Overall, let’s look at last night’s performance as the greasing before shafting.

Next week we’ll get the list of concrete steps taken to correct our situation, basically digging deeper and deeper into our pockets.


Share on:

March 16, 2018
Rona Coster