- Thread starter DCfred
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Washington Post Article on Dominican Economic Chaos
DCFred;
Very good reference!!
The problems are many, and the deadline is approaching. 12/11/03 isn't that far away. I think the leaders of the strikes will find he is supported by many!
Let's hope he lives to tell about it.
Texas Bill
Very good reference!!
The problems are many, and the deadline is approaching. 12/11/03 isn't that far away. I think the leaders of the strikes will find he is supported by many!
Let's hope he lives to tell about it.
Texas Bill
I happen to get the Washington Post and in the paper version there is a photo of Hipolito. The caption reads that Hipolito has misspent the revenue of the country by padding the government payroll with his cronies. Also, there is a bar chart graph that shows under the Leonel years that the DR enjoyed nearly an 8% annual increase in the Gross National Product. But the best GNP under Hipolito has been a 3.2% and is projected at -3.5% for 2003. The Post is not too keen on Hipolito turning the country around. Sadly, Hipolitos reckless borrowing and bloating of the government payroll has wrecked the economy.
I found the WP article very interesting too. Hippolito comes acrosss as a hack politician to me but the world economy is probably the most significant factor in the country's problems. How much better off would the country be with any other president? Not all that much. What do you think about the possibility of US aid for economic rescue as a reward for the country's support of the US coalition in Iraq?
hpbob-
I think that we would have been better off with the PLD or the PRSC just because they are not as populist as the PRD when it comes to punishing the public payroll. The PLD is considered as a small, ideologically and theoretically similar group of politicians who governed very well with a small government. THe PRSC is more of an upperclass elitist party who are a bit more open than the PLD but not as populist as the PRD.
Either one would have punished government spending in the public payroll alot less/.
I think that we would have been better off with the PLD or the PRSC just because they are not as populist as the PRD when it comes to punishing the public payroll. The PLD is considered as a small, ideologically and theoretically similar group of politicians who governed very well with a small government. THe PRSC is more of an upperclass elitist party who are a bit more open than the PLD but not as populist as the PRD.
Either one would have punished government spending in the public payroll alot less/.
I agree with samiam. However, I think the PRD is hoping to delay the day of reckoning as there is the little hassle of an election coming up. I'm really surprised that Dominicans initially embraced the discredited policies of the current administration. Every country that has embraced populist, big government, has ended up in the poorhouse. Take Argentina: after WWII, they were the 8th richest country in the world. But after decades of populist government, mainly the Peronist, or corrupt dictatorships, the country has the finances of a thirld-world country. Unfortunately, I don't see a happy ending to this mess. There are no easy choices to be made. And the leaders of the PRD don't have what it takes to be statesmen and put the interests of the country over the interests of the party. At least a couple times Balaguer was able to put the interests of the country over the interests of his party, 1978 and 1994. What would Duarte say?