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MyBahamianBlog: **Freddie Speaks The Truth**
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Page 1 of 1Total of 1 messages
Posted by:Apr 12th 2005, 02:42:55 pm
Fig Tree News

"Freddie Mitchell now has it right. So does Julian Francis. Hopefully the few voices in the wilderness will grow into a shout, and become government policy.

Freddie The Foreign Minister is a man on a mission. He wants the Bahamas to join the Caribbean Single Market and Economy [CSME]. He is virtually the only one in the cabinet who thinks that it is a good idea.

The CSME would entail the free movement of goods, services and people in the Caribbean. This is strongly resisted in the Bahamas. For starters, we would have to revamp our entire tax system, because the government revenue model is based on collecting tariffs and duties on goods. This structure would have to be dismantled. We are not sure if joining the CSME is right, but what Freddie proposes is right.

But here the part where Freddie has it right. He is is advocating the liberalizing of access to capital for potential businesspersons. This is so right. This is what we have been saying all along. This will create an entrepreneur class of Bahamians. This will give Bahamians the ability to create businesses that can compete in any market. Right now, the government and banks hamstring Bahamian entrepreneurs. Either you get a micro-loan and your business stays small, or you get access to private capital, which most Bahamians do not have.

Right now, the government controls your ability to become rich. If you are in the right crowd, you get rich. Look at the Total Loss from Holy Cross, Sidney Stubbs. If it were you or I, we would be flat-busted on the street, begging on our bankrupt asses. We would not be sitting in Parliament collecting a pay cheque.

Here is some more hardhitting words from Freddie:

“It would certainly be more efficient and less parochial and corruptible for individuals to be able to find and access their own capital at the cheapest price they can find and for the government to remove any barriers for doing so,” he said. “One of the regimes for CSME is the free movement of capital.”

We believe that the fundamental problem in Bahamian society is an economic one. If we had a diverse economy where Bahamians could do better just by working hard at their jobs, and they have jobs that pay well, then our crime would go down. Our society would spruce up. We would have something worth protecting, and worth fighting for.

We would have Bahamian industries, owned by Bahamians, where Bahamians would get the management promotions by working hard. We would have profit sharing companies. We would have a vibrant upper middle class that had disposable income in their pockets. All of this would flow from economic diversification. Freddie has it right!

Read Freddie's lines closely. He is an intelligent man. We like his word choice. He picks his words like a surgeon using a scalpel. These are the words to watch: ..... be more efficient and less parochial and corruptible .... the government to remove any barriers for doing so .... He hits the nail on the head with the current situation. With the government controlling access to capital, it is parochial (who you know), corruptible (who you know, or who you can buy) and inefficient.

The Minister of Foreign Affairs speaks the truth."

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