Temistocles Montas - Dow Jones Wire

PICHARDO

One Dominican at a time, please!
May 15, 2003
12,302
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Santiago de Los 30 Caballeros
The Dominican Finance Minister is either trying to drum up some business or he's whistling past the graveyard.

It would have been nice of him to also explain how the country plans to manage its increasing debt load. Counting borrowed money as GDP looks good only from one angle and smells bad all the time.

http://www.dominicantoday.com/dr/ec...igorate-in-2011-Economy-chief-tells-Dow-Jones
Only a moron or economic's deficient person would even dare equate a nation's GDP value, having been benchmarked using external loans, as part of the economic growth represented on that figure in any level. Loans, Tnotes, bonds are the negative load used to determine a given nation's debt based on their economic output as in GDP...
 

the gorgon

New member
Sep 16, 2010
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i have read, with slight amusement, the repetitive releases by PICHARDO regarding the prospects for the Dominican economy. they, however , always seem to come in the form of some semi esoteric economic figures, which explain nothing whatsoever. projections can be made with numbers, yet do not have any groundings in reality. therefore, we can say that the GDP will grow by 5 points in the current year, yet it means absolutely ZERO in terms of the creation of wealth. i hark back to the compraventa phenomenon. these establishments are mushrooming all over the country, simply becuase the booming economy which PICHARDO seems to visualise cannot provide basic living wages, leaving single mothers to pawn 100 lb gas cylinders to feed three kids. then, not to feel left out, the BANCA is the next visible growth industry. yes, those who cannot find 100 pesos to put food on the table think they will get it via the Pale. both the banca, and the compraventa, are rent seeking enterprises. they create no wealth. they shuffle around money, but nothing but debt is created. but their numbers are calculated into the end of period figures. just like idle phone calls on cellphones. what i want to see is wealth creation. show me value added products. show me some high tech developments. show me local enterp`rises with impact on international markets. i can dig up the GDP numbers on GOOGLE myself.
 

greydread

Well-known member
Jan 3, 2007
17,476
478
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Only a moron or economic's deficient person would even dare equate a nation's GDP value, having been benchmarked using external loans, as part of the economic growth represented on that figure in any level. Loans, Tnotes, bonds are the negative load used to determine a given nation's debt based on their economic output as in GDP...
Only a moron would ignore it.
 

the gorgon

New member
Sep 16, 2010
33,997
72
0
PICHARDO scolds

Only a moron or economic's deficient person would even dare equate a nation's GDP value, having been benchmarked using external loans, as part of the economic growth represented on that figure in any level. Loans, Tnotes, bonds are the negative load used to determine a given nation's debt based on their economic output as in GDP...

whaaa????
 

playacaribe2

Well-known member
Jan 9, 2004
8,937
191
63
If you ever get the chance...

The Dominican Finance Minister is either trying to drum up some business or he's whistling past the graveyard.

It would have been nice of him to also explain how the country plans to manage its increasing debt load. Counting borrowed money as GDP looks good only from one angle and smells bad all the time.

http://www.dominicantoday.com/dr/ec...igorate-in-2011-Economy-chief-tells-Dow-Jones

read some of the wiki leaks stuff on him.


Respectfully,
Playacaribe2