Today George Dubya canned his economic team, O'Neil the Treasury Sec and Lindsey the Economic chief at the White House.
He realized that even as a very successful war leader, super popular leader that had taken his party to new electoral successes, he was falling in the eyes of his people, due to the economic problems facing the USA.
In the last few months, in fact, in the last few weeks, the peso has fallen nearly 35% against the dollar. While "Happy Face" seems to think he can solve this over the weekend, unless he takes really drastic measures, this will not be a Merry Christmas for the Dominican people. The business class has been really hard hit. If, as has happened in many cases, a Dollar line of credit has been extended, that person has lost 30% in the last three weeks. US$50,000 dollars was RD$897,500 to be repayed. Now it is RD$1,225.000 to be repayed. There is no way to cover that loss. And this is just one case the businessmen are facing.
In the lower brackets of the middleclass, people with relatively fixed incomes, say 8-10,000 pesos a month, have seen their buying power lowered to 6,000 pesos, their salary perhaps ten years ago...
And, as things "trickle down", it just gets worse. Every grain of wheat that comes into this country is paid for in dollars. A $1.00 pound of wheat is now 24.50 pesos, up from 17.95 just days ago , and that is a 36.5% leap in cost.
All this is creating a forboding shadow over the political and social stability of this beautiful country. Hipolito the Bald had better take a lesson from ol' Dubya. Clean house and take some drastic steps. I, for one, am not alone in requesting that the electrical distributors be nationalized, with the emission of a decree. Yes, just the signing of a decree, to condem the Union Fenosa for treason against the Dominican Republic. No compensation and let the freaking chips fall where they may. No matter who handled the electric companies in the past, it has never has such terrible consecuences as it does today. Kicking their asses out of the country would bring life into the country, and perhaps some hope. Hope? Last seen leaving on the 3 o'clock for Miami....
Finally, I think a few public executions are in order. I would leave it up to Golo and PIB to come up with a list of candidates.
HB
He realized that even as a very successful war leader, super popular leader that had taken his party to new electoral successes, he was falling in the eyes of his people, due to the economic problems facing the USA.
In the last few months, in fact, in the last few weeks, the peso has fallen nearly 35% against the dollar. While "Happy Face" seems to think he can solve this over the weekend, unless he takes really drastic measures, this will not be a Merry Christmas for the Dominican people. The business class has been really hard hit. If, as has happened in many cases, a Dollar line of credit has been extended, that person has lost 30% in the last three weeks. US$50,000 dollars was RD$897,500 to be repayed. Now it is RD$1,225.000 to be repayed. There is no way to cover that loss. And this is just one case the businessmen are facing.
In the lower brackets of the middleclass, people with relatively fixed incomes, say 8-10,000 pesos a month, have seen their buying power lowered to 6,000 pesos, their salary perhaps ten years ago...
And, as things "trickle down", it just gets worse. Every grain of wheat that comes into this country is paid for in dollars. A $1.00 pound of wheat is now 24.50 pesos, up from 17.95 just days ago , and that is a 36.5% leap in cost.
All this is creating a forboding shadow over the political and social stability of this beautiful country. Hipolito the Bald had better take a lesson from ol' Dubya. Clean house and take some drastic steps. I, for one, am not alone in requesting that the electrical distributors be nationalized, with the emission of a decree. Yes, just the signing of a decree, to condem the Union Fenosa for treason against the Dominican Republic. No compensation and let the freaking chips fall where they may. No matter who handled the electric companies in the past, it has never has such terrible consecuences as it does today. Kicking their asses out of the country would bring life into the country, and perhaps some hope. Hope? Last seen leaving on the 3 o'clock for Miami....
Finally, I think a few public executions are in order. I would leave it up to Golo and PIB to come up with a list of candidates.
HB
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