Economic impotency

THE EDITOR: Up until the Rowley Government reorganised – dismantled – TT’s energy industry, we had a managed economy. The structure could be made to work efficiently (eg, Manning in 2007) because predictable income earning arrangements were under our control, allowing spending to be planned and executed with direction.

Our cadre of economists is trained and adapted to this system, and can dependably identify indicators and insist on heads of accountability to gauge and administer it. The new economy cannot be planned or monitored like that and the economists are not conversant in what is about to unfold.

National economy is beholden to private enterprise enclaves subordinated to foreign claims. Government cannot make anyone there “competitive.”

The TT currency is going to be subjected to new kinds of pressures where, in addition, open market intervention strategies are presently impossible. Moreover, data is no longer available directly nor reliable at the same degree, for it has to be sourced second-hand and third-hand where a lot of it cannot be double-checked or even demanded.

As we go toward the polls people who want to be elected need to address the facts transparently and bravely. This is not a watershed moment like the one in 1993. The future is very uncertain and we are unprepared for it and have transferred economic and financial potencies out of reach.

Has the Rowley Government committed to helping the US be the key world energy player? It would be interesting to know if renationalisation is being considered.

E GALY

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