Locally Owned

[Bnewb]

I always assumed the white haired gentleman and the thin blond woman (sorry, usually bad with names) who lived at the top of the property were the owners.

Okay John, I know who you mean & no, they don't live there. One person is a manager and the other person is one of the owners that lives in the US...but comes & goes between the two countries.

To me a local in any country is someone born & raised in said country or someone that has chosen to reside in an area full time. It also helps to be part of the business enviroment, politics etc....

[captaind]

Here's one version of local:

"My leader born here" Michael Manley political video from the election of 1976

Watch it all the way through and see Toots. Jimmy Cliff etc before the dreadlocks days. A great picture of Jamaica in the '70s

https://www.youtube.com/watch?v=kE_o3unHwvY

[Irine]

Just an opinion or observation. Perhaps it's just the video they chose to shoot, but in this video and others I've seen from the 60's and 70's it would appear that the Jamaican economy is healthier in these clips then it is now. Is Jamaican economy better now? I really don't know. The infrastructure looks better in the older vids.

Here's one version of local:

"My leader born here" Michael Manley political video from the election of 1976

Watch it all the way through and see Toots. Jimmy Cliff etc before the dreadlocks days. A great picture of Jamaica in the '70s

https://www.youtube.com/watch?v=kE_o3unHwvY

[Accompong]

Just an opinion or observation. Perhaps it's just the video they chose to shoot, but in this video and others I've seen from the 60's and 70's it would appear that the Jamaican economy is healthier in these clips then it is now. Is Jamaican economy better now? I really don't know. The infrastructure looks better in the older vids.

The infrastructure was pretty good while England was in charge of fixing it. Of course, all the riches they took from the slave labor was enormous so it was a small price to pay. When Jamaica wanted Independence, the English were happy to oblige and wash their hands of that expense.

[Rob]

Chris and Bertram developed the property...

[Irine]

I had a quick look at Jamaica's place in the 2018 economic freedom rankings and some of the supporting data. They are definitely being abused by the international money lending community. As a 3rd world economy it's pretty disgusting to see the interest rates they have to pay and the long term effects it has on the country and it's people. Most of the Caribbean countries seem to be in a similar strangle hold. You would think foreign investment would be interested in strengthening their investors not bringing them to their knees. OK Ok I'll stop being a Debbie downer, and this isn't the right thread either. It' just that when I see the Jamaica of old compared to the Jamaica I visit every year it makes my heart ache. Locally owned is a small ray of sunshine.

[Accompong]

I had a quick look at Jamaica's place in the 2018 economic freedom rankings and some of the supporting data. They are definitely being abused by the international money lending community. As a 3rd world economy it's pretty disgusting to see the interest rates they have to pay and the long term effects it has on the country and it's people. Most of the Caribbean countries seem to be in a similar strangle hold. You would think foreign investment would be interested in strengthening their investors not bringing them to their knees. OK Ok I'll stop being a Debbie downer, and this isn't the right thread either. It' just that when I see the Jamaica of old compared to the Jamaica I visit every year it makes my heart ache. Locally owned is a small ray of sunshine.

Always a dangerous thing commenting on another country's economy with only "facts" and not familiar with the history of how they got there in the first place.
No need to start an argument where there will be as many differing opinions as there are people. If being abused means having to get their fiscal house in order before anyone (including the IMF) would loan them any more money then I guess guilty as charged. Being an island with virtually no manufacturing or VAR business and an enormous trade imbalance with the US, trying to live beyond your means and borrowing more money to pay what you already owe is a recipe for disaster. The abuse is working and the price has been high but the Economy is getting better.]

[Rasta Animal]

I had a quick look at Jamaica's place in the 2018 economic freedom rankings and some of the supporting data. They are definitely being abused by the international money lending community. As a 3rd world economy it's pretty disgusting to see the interest rates they have to pay and the long term effects it has on the country and it's people. Most of the Caribbean countries seem to be in a similar strangle hold. You would think foreign investment would be interested in strengthening their investors not bringing them to their knees. OK Ok I'll stop being a Debbie downer, and this isn't the right thread either. It' just that when I see the Jamaica of old compared to the Jamaica I visit every year it makes my heart ache. Locally owned is a small ray of sunshine.

Irine, if you haven't seen it, I would recommend that you watch the documentary "Life and Debt".

https://en.wikipedia.org/wiki/Life_and_Debt

[Irine]

I will watch it for sure, thanks.
I guess Accompong I have a hard time understanding why the IMF charges the interest they do when they know it will cripple the country that has to make the payments. And it's not a Jamaica conversation alone, they loan money to many countries who struggle with repaying it. Definitely don't want to star an argument, not my nature, just an opinion shared.

Irine, if you haven't seen it, I would recommend that you watch the documentary "Life and Debt".

https://en.wikipedia.org/wiki/Life_and_Debt

[Accompong]

I will watch it for sure, thanks.
I guess Accompong I have a hard time understanding why the IMF charges the interest they do when they know it will cripple the country that has to make the payments. And it's not a Jamaica conversation alone, they loan money to many countries who struggle with repaying it. Definitely don't want to star an argument, not my nature, just an opinion shared.

I didn't mean with you necessarily. Just that everyone has a different opinion on things. The IMF has to charge interest because it uses other people's money to make the "secured loans" (which they back) and the investors who put the money up are not in the give away business. If Jamaica had good credit, they could go elsewhere but they don't.

Also, thanks Rasta Animal for adding that important video. It is in my collection and watched quite a bit.

Think about this. If you were a private investor, would you want to invest in a country where it's currency wasn't properly stabilized? As soon as you convert your currency into Jamaican Dollars you are at the will of the market value. Look at Venezuela now where $1 US is worth $41290 Venezuelan Bolivars on the black market and virtually worthless and Jamaica owes them money for oil they supplied.

Crime will have to be stabilized before foreign investments will feel comfortable with risking their money on a large scale other than possibly hotels.

Peace and Guidance