Tag: Recession

S&P Global Ratings Downgrades Trinidad and Tobago

27 April 2017

Photo Courtesy: http://www.luxembourgforfinance.com/en/news/standard-and-poors-confirms-luxembourg-aaa

A Firstline Securities Limited Blog by: Mike

On the 21st April 2017 S&P Global Ratings (S&P) downgraded Trinidad and Tobago’s long-term sovereign ratings from A- to BBB+. At the same time, S&P confirmed the outlook of Trinidad and Tobago as stable. Read more…

FETE OVER?….NOT A CHANCE!

6 March 2017

The incredible likeness of George Chambers’ ghost.

When George Chambers uttered the phrase: “fete over, back to work”, he probably didn’t realise how immortal and timeless those words would become.
With the economy of Trinidad and Tobago in recession, oil prices remaining in a stagnant state, GDP falling, foreign exchange in scarce supply, and many of our citizens finding it hard to make “ends meet,” does it make sense shelling out over $1,500.00 to attend a fete, or borrowing over $6,000.00 at a 9% interest to fund a Carnival costume that is good for just a day’s or two days’ use?
So, in the spirit of George Chambers’ immortal words, the fete may be over and we may all be back at work, but was the fete worth supporting in the first place, especially when the activities of the central government and the economy of Trinidad and Tobago are severely curtailed by a lack of revenue and positive economic activity?

Read more…

In Europe: Italy’s recession pain stretches to a year

7 August 2012

The distinct ‘honour’ of being “the euro zone’s most sluggish economy” goes to…

Italy shrank further into recession in the second quarter for a 2.5 percent yearly decline, data showed on Tuesday, threatening attempts by Mario Monti’s technocrat government to control a debt crisis that is undermining the whole euro zone. Read more…

In The Face Of A Recession: Opportunity Amongst Catastrophe

10 October 2011

I can predict your first question: Are we in a recession?

A 2008 CNN article describes a recession as “a self-reinforcing downturn in economic activity, when a drop in spending leads to cutbacks in production and thus jobs, triggering a loss of income that spreads across the country and from industry to industry, hurting sales and in turn feeding back into a further drop in production – in effect a vicious cycle…To keep it simple, just look for the “Three P’s” – a pronounced, pervasive and persistent downturn in the broad measures of those factors.”

I’ll leave it up to you to judge how closely the description fits the current situation, but what can you do to keep sane in these crazy times? Read more…