Jamaica’s debt hurricane
The Greece of the Western Hemisphere

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January 8, 2013

Americans concerned about the impact of public debt on the global recovery have focused — with good reason — on Greece. Closer to home, however, the tourism mecca of Jamaica illustrates the catastrophic effects of borrowing way too much, and the painful choices that follow. This saga, less familiar than Greece’s, is a lesson for lawmakers in the U.S. and elsewhere.

The Caribbean nation actually is in worse financial shape than Greece: Jamaica has more debt in relation to the size of its economy than any other country. It pays more in interest than any other country. It has tried to restructure its loans to stretch them out over more years, at lower interest rates, with no success. Such a move would be risky for its already nervous lenders. So Jamaica is trying to wangle a bailout from a skeptical International Monetary Fund. Another deadline for a potential deal just came and went last week, though negotiations continue.

Jamaica is caught in a debt trap. More than half of its government spending goes to service its loans. The country can spend barely 20 percent of its budget for desperately needed health and education programs. Its infrastructure is faltering. It lacks resources to fight crime. It has little margin to recover from natural disasters such as Hurricane Sandy.

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Kingston, Jamaica
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To set itself straight, Jamaica needs a restructuring, and a bailout with significant debt relief. No way can a small economy that has limped along with growth at less than half the global average for two decades pay back the fortune that it owes. But as with Greece, as with America, as with the state of Illinois, government leaders have balked at imposing the inevitable hardships. Saying no to favored constituents is no easier in Kingston than in Springfield.

The potential alternative is worse: Defaulting on its debt would ruin Jamaica’s prospects for many years to come: It would undermine the island’s critically important trade relations with the U.S. It would discourage badly needed foreign investment in its tourism, agriculture and mining sectors. The only thing worse than doing what Jamaica must do to live within its means would be not doing it.

That hard fact is being faced to some degree by debtor nations around the world. Jamaica is an extreme example of the fate that could befall Spain, Italy, Japan or, yes, the U.S., if debt keeps piling up. The analogy only goes so far since those much-larger economies have better resources to manage their finances. Jamaica has few options, apart from beseeching the IMF.

The American “fiscal cliff” deal was good news for Jamaica, which could not afford another U.S. recession. The island’s financial stewards have taken some practical steps to depreciate the local currency and curb inflation. The broader solution, however, is as obvious and necessary in Jamaica as it is in Greece and other countries mired in debt: Reform taxes, curb pension costs, cut public payrolls.

In Jamaica, that austerity-based formula has, unfairly, gotten a bad name. Critics of trade liberalization, privatization and deregulation point to Jamaica as Exhibit A of First World policies gone awry. IMF-imposed fixes more than a decade ago — after public debt had ballooned in the 1990s — made conditions worse, the critics say.

What really happened, however, is that IMF fixes gave Jamaica a temporary lifeline, but government never stopped borrowing and spending. The lesson of Jamaica is not that access to credit is bad. It’s that irresponsible stewardship is bad.

We’re cautiously optimistic that Jamaica’s current leaders will do better: Finance Minister Peter Phillips says his government must do whatever is necessary to reduce its out-of-control debt. Job One: Jamaica must make enough painful progress to win the confidence of the IMF, and of private lenders.

While the rest of us wait to see whether the island nation escapes its debt trap, we’ll see whether other countries learn the lesson of Jamaica: Stop digging such deep, deep holes in the beach.

Copyright © 2013, Chicago Tribune

Police open probe into claims of car buyers being duped
Corporate area business accused of duping clients
BY KIMMO MATTHEWS Observer staff reporter [email protected]
Tuesday, January 08, 2013

SEVERAL members of the Jamaica Defence Force and the Jamaica Constabulary Force were among other professionals left holding their collective breath for hours yesterday, as police from the Organised Crime Investigation Division (OCID) launched an investigation to ascertain the legitimacy of a Corporate Area company to which they had paid millions of dollars for motor vehicles and services, which they never got.
By late afternoon, the owner of the company was led from his office in handcuffs and taken into custody by the Cross Roads Police. At press time he was still being questioned.
People stand outside the office of a New Kingston financial institution yesterday to which they said they paid large sums of money for cars and other services, which were never delivered. (Photo: Bryan Cummings)
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Operations at the Kingston-based financial institution were brought to a halt earlier in the day as disgruntled customers descended on its office, claiming that they had been shafted.
They said they had been left with nothing but empty promises after paying over large sums of money to the company, which offered several financial aid packages, including motor vehicle loans.
“Hundreds of people have been left stranded by this company. Dem tell the people that they could get dem top-of-the-line motor vehicles on hire purchase, and after two months of waiting, all now we are yet to get the vehicles,” said one angry woman.
Along with clients being concerned about how they would be reimbursed their money for failed car deals, others — who had signed up for the company’s training and job placement services — said they, too, were left with nothing, having paid over $3,000 in registration fees.
“We were told that if we made the payments we would be offered training and then given employment. We are yet to see this happening,” said one recruit, who almost fainted when she heard that the programme was under investigation.
Yesterday, as police prepared to send a team in to interview the owner of the company, several employees also raised concerns about conditions of work and the alleged non-payment of salaries.
“I have been working at the organisation for several months and I am yet to get paid,” said one employee.
She said she, too, had paid $3,000 to secure a spot in the training programme with the hope that she would eventually be employed to the company as a telemarketing representative.
“I paid over my funds and I still can’t hear anything. I want back my money! And every time I come here to get back my funds I am told another story,” said the employee, who threatened to take legal action.
“People from all professions have fallen victim to the promises made by the company, from lawyer down to doctor, even members of the police and military,” she added.
Yesterday, head of OCID, Superintendent Clifford Chambers, said he and his team had started probing the matter.
“Police have launched an investigation into claims made by persons regarding the operations of the company,” Chambers said.
The probe’s conclusion, however, depends on whether the owner of the establishment is able to resolve the claims of its customers. Sources told the Jamaica Observer that reimbursement to clients had begun yesterday afternoon.
“Persons have raised concerns about getting back their money and, at this time, payments are being made,” said one policeman investigating the case.

Read more: http://www.jamaicaobserver.com/news/Fraud-or-false-alarm-#ixzz2HOq6F5ox

DI SENDER SEH:-Good morning and a Happy New Year to you met,

Mi tink seh marsha did gone wid flippa? she still deh yah inna Philly. Enclosed is pix with her at skilli bangs birthday bash
i must say she ain’t looking too badddd!!!!! but one question i have why everytime i see her she wears the same facial expression? like
her face is stuck in one position? what do you all think metters?

CAN SOMEONE PERFORM SOME INVESTIGATION ON THE FOLLOWING:-
1. DI NAIL SHOP GIRL WHEY DEM SEH FLIPPA DEH WID YAH NOW A TINK SHE NAME TRISH/ TRISHA
2. WHY FLIPPA A SEH MARSHA COMING
3. I HEAR SEH ONE GIRL WHEY GET A RIDE *wink wink* SEH IT NUH AS SOLID
4. DI BABY MADDAH WHEY DID INFRONT A MARSHA…DI SAME ONE WHEY DI MADDA DID BIG UP INA DI VIDEO DEM SEH SHE KETCH A BELLY AND IS NOT FI FLIPPA………… DEM SEH DI GIRL STEP WHEY LEF HIM AND START A BRAND NEW LIFE OO…SUH DAS WHY MARSHA ONE A GET BIG UP NOW…….

* thats all folks*

AND IT HAS BEEN GOING ON NON-STOP FOR ALMOST 24 HOURS..ALSO I AM ASKING YOU GUYS NOT TO SAY ANYTHING NEGATIVE..CLEARLY SHE IS GOING THROUGH SOMETHING RIGHT NOW..BUT PLEASE REACH OUT

PaRis Paradise
21 hours ago via mobile
my mom so badmind she hurry up an kill him before him see my one son cause out a him 5 girls ,she badmind meeee so much she just stress out all a him heart.
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2 people like this.

PaRis Paradise All cause him loveeeee the witch….
21 hours ago via mobile · Like · 1

PaRis Paradise My mom wanted to be me ,when she left us to die an she see how successful I was,the lady trick me an take away all my money not even a doller she send me out a all mi 60,000 dollar me cry till mi feel like me a dead mi stop ,she did want kill me first.
21 hours ago via mobile · Edited · Like · 1

D.j. Avalon Karsonmcgregor wow O__o?
21 hours ago · Like

Emma Apps i feel that … my fuking mother too bad mind as well she jelous coz i am beauty….. bad mind even in family awful man
21 hours ago via mobile · Like

PaRis Paradise Yes an true she never even help none of her 7 kids , god help me to come an I help them all I even send for my dad an my chad an dolly an bill up my dad place an them dont even no an them run come badmind mi an take away my car an my shop an my good home.
20 hours ago via mobile · Edited · Like

PaRis Paradise My sis that I love an give her my shop take all my money away too
20 hours ago via mobile · Like

Monique Espinal Aunty BRINA you really need to stop now. What ever you and grandma is having you don’t need to bring it on Facebook…for real !
20 hours ago via mobile · Like · 1

PaRis Paradise Never even look at me when mi did down
20 hours ago via mobile · Like

PaRis Paradise not even a dollar
20 hours ago via mobile · Like

PaRis Paradise i no god love me…
20 hours ago via mobile · Like

PaRis Paradise Them would not even keep my son for a day,an dont abuse him omg..
20 hours ago via mobile · Edited · Like

Simone Ricketts God a god” u bless me friend
20 hours ago · Like

PaRis Paradise Only me one mi frien,an cause them no seh my dad would have help me with my son them kill him…
20 hours ago via mobile · Edited · Like

PaRis Paradise I cant hide the pain no more have to let it out fi me an my dad
20 hours ago via mobile · Edited · Like

Simone Ricketts I know how u fell no 1 love me but god “family always play a hate”but we BLEss
20 hours ago · Like · 2

PaRis Paradise If I dont let out the pain in my heart it will kill me just like my dad ,i will live for my son an not die….
20 hours ago via mobile · Edited · Like · 1

PaRis Paradise Maybe if my familys was a good set .
20 hours ago via mobile · Edited · Like

PaRis Paradise Iam freeing the world an myself
20 hours ago via mobile · Like

PaRis Paradise Not even a one call r text to see how me an king doin..
20 hours ago via mobile · Edited · Like · 1

Kimberlee Chin mi nuh rate my mother either but nuh mek dem stress u out bbz
20 hours ago · Like

Kimberlee Chin my mother run left mi from birth n pop up 20yrs later she badmind n lie nuh hell n expect mi fi talk to r mi cant stand r
20 hours ago · Like · 1

Kimberlee Chin dont trust family mek dem gweh
20 hours ago · Like · 1

Pinkydinky Harajukubarbie Gomez Hush babe a suh sum family stay don’t worry yoself becuz god ago bless you<3!
20 hours ago via mobile · Like · 2

PaRis Paradise My mom is so evil cause she did have life hard she wanted to make sure our life hard.
20 hours ago via mobile · Edited · Like

Kimberlee Chin nuh worry yourself babes my mother nuh easy either she tell pple seh mi a prostitute n bare tings n this bitch just kno mi a few months ago
20 hours ago · Like · 1

PaRis Paradise Tearsss them left mi fi the badmind people them kill me
20 hours ago via mobile · Like · 1

PaRis Paradise All cause a badmind,i would have help all of them,but them mak badmind get the best a dem….an take away all my money…
20 hours ago via mobile · Edited · Like · 1

PaRis Paradise An dont do one thing fi help mi…
20 hours ago via mobile · Like

Kimberlee Chin babes it hurt but nuh worry yuh self thing will work out fi yuh
19 hours ago · Like · 1

PaRis Paradise Onelove
19 hours ago via mobile · Like

Trudi Murray Sabrina STOP speaking so poorly of your mother and having other boost you on. No one knows your pain but you, that is quite understandable. However, ypu cannot do this to your mother. She might not have done what you expected, but please understand she dis what she knew best. No one is perfect; neither is your mother. We all have family ossues, but don't use Facebook to defame your mother like this. Okay! Let's say she was "bad" for argument sake, at least she gave you life so that you too can bring forth your baby boy and become a better mother. Please stop entertaining an audience that REALLY do not care about your issues!! Take this to the Lord in prayer hun. It hurts me as a mother to see you do this and I am not saying you don't have a right to express yourself. HOW you express yourself can possibly backfire in your face. God forbids something happens to you and the father of your child, WHO do you think will step in amd raise your son? I can bet my life on it… Your mother, sister and FAMILY will help; NOT FRIENDS!! Humble yourself hun and do not do this to your family. No family is perfect; mine included BUT… We have to still show a level of respect for them!! No matter how "bad" a mother is, nothing compares!! I still love you, so please don't think otherwise. I am still stuck on the PREPS SISTERS I KNOW TO BE LOYAL AND COMMITTED TO EACH OTHER and by no means is this a good representation of what you really stand for!! Love is love and no matter how you take this comment, I will love you no less!! Bless UP and stay UP ALWAYS!!!!
18 hours ago via mobile · Like · 5

Trudi Murray Pardon the typos and grammatical errors!!!
18 hours ago via mobile · Like

PaRis Paradise You have a mom that stay by yourside I dont
18 hours ago via mobile · Like · 1

PaRis Paradise Bob seh who feels it no it ok…thankz
18 hours ago via mobile · Edited · Like · 2

PaRis Paradise Iam human an I have lots of feelings just as anybody
17 hours ago via mobile · Edited · Like · 1

PaRis Paradise Mi head hottttt…
17 hours ago via mobile · Like · 1

Trudi Murray Yet our relationship isn't perfect hun. You're welcome.
17 hours ago via mobile · Like

PaRis Paradise But not as bad as mind….
17 hours ago via mobile · Edited · Like

PaRis Paradise God say no man is perfect but he ,I no hun nobody is perfect…
17 hours ago via mobile · Edited · Like

PaRis Paradise Having a baby with no help at alllllll,it make me feel bad ,but mi get over it glory be to father god…
17 hours ago via mobile · Edited · Like

Trudi Murray I know Sabrina, we all have feelings! A LOT of us were treated poorly at one point in all our lives, but we cannot live lives filled with anger, hatred amd vengefulness and think we are getting by. If you were to simply say to yourself: "My mother played herself and from this day forward I am done with her" and move on with your life, you will be at peace. When you take this route of constantly dwelling on it, you are actually making matters worse for yourself. Let go of the pain, hurt and sorrows babe. Just let it go and let God restore you and your family. How would you feel if your son were to grow up and do to you what you are doing to your mother because he feels you didn't do your best with him? That would tear your heart apart, right???? Well… I can bet you your mother must feel bad having to deal with this! Don't do this to her! Don't entertain people! So many probably read this and either laughed at you, shook their heads at you and would never say a word about this! The Bible says two things: 1) Honor thy mother and thy father… and 2) Parents do not provoke your children… NOW… IF your mother has or is provoking you, leave her and play your role of honoring her. If you cannot honor her, silently separate yourself! What if your mother had aborted you, would you know what it's like to LIVE? Mothers are irreplaceable no matter how we cut, dice, slice and mince it!
17 hours ago via mobile · Edited · Like · 1

PaRis Paradise Do u ever see my mom with my baby,but I see your mom with your son
17 hours ago via mobile · Like · 1

PaRis Paradise Anybody that no me alway see me with my son o
17 hours ago via mobile · Like · 1

PaRis Paradise I never say I hate her ,i say she hurt me an left me to die,i want to no if your mom teef you money from you when u down,an dont help u none at all ,do u ever see me with my mom like I see u with yours from I no u.
16 hours ago via mobile · Edited · Like · 1

PaRis Paradise Like I say who feel it no it…
16 hours ago via mobile · Like · 1

Trudi Murray YES I HAVE SEEN YOUR MOTHER IN CHURCH WITH HIM INTRODUCING HIM TO HER SISTERS AND CHURCH MEMBERS!! Don't compare my mother to yours, because like your mother, my mother isn't perfect!! I know you love your baby boy, it is evident!! Sabrina, must we never forget that while it is a blessing to have our mothers and families watch, spend time with and cater to OUR children, they are not obligated to!! I think you should call your mother up and set a date and time to speak with her. Try and make peace with her. I see her all the time and I know she loves her children. Before she knew I knew you and your sister, she told me nice things about you guys. She herself might not even remember but I do!! Your mother is trying to live for Christ, cut her some slack!!
16 hours ago via mobile · Edited · Like

Trudi Murray I don't recall saying you said you hate her, but if I did, my sincere apology for that! I am not going to indulge any further; don't want to offend you. Enjoy your day!
16 hours ago via mobile · Like

PaRis Paradise No a me bring him a church, an she love come act like she love him
15 hours ago via mobile · Like

PaRis Paradise I go to that church me an my baby only
15 hours ago via mobile · Edited · Like

PaRis Paradise No cause she mess with my son, that is why I let it out , she pepper him bottle.
14 hours ago via mobile · Edited · Like

PaRis Paradise If my son fi stay with my familys it would kill me,I would be so stress out,them dont like him I see it with my own eyes,when me have him them get badmind cause the shine was on him,an run go get pregnent them think mi see oooodem .
about an hour ago via mobile · Edited · Like

PaRis Paradise Iam not a fool bob say dont mek dem fool yuh r even try fi school yuh,i have a mind of my own…
about an hour ago via mobile · Edited · Like

PaRis Paradise
21 hours ago via mobile
Daddy I miss you…..
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Kimberlee Chin and 2 others like this.

PaRis Paradise
21 hours ago via mobile
My kingdad ..
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2 people like this.

PaRis Paradise
21 hours ago via mobile
If u hurt me member mi tell yuh ,you hurt god an you will see what he willll di to you…amen
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4 people like this.

PaRis Paradise Do to u…
21 hours ago via mobile · Like

Shantell Melissa Forbes #love this
21 hours ago · Like

…

met mi want u put up da dutty gal ya fimi and tell har fi stop tek de 19 and 18 year old likkle boy dem and she fi stop walk and tell ppl bout she own big meat shop a one small bloodclaaat shop de gal av a dun kirk and bout she live uptown a windward rd de germs live all she do a (Edited) man fi dem car dats y rolex de selecta f++ har and duck har nastiness cus a him car she did want drive up and dung sue (Edited)