The Jamaican government and the opposition labor Party are both crying foul over the January 8th publication by one of Americas leading rightist newspaper,the chicago tribune, blaming both political actors for our country's astronomical debt problems. The tribune was correct in that regards but hypocritical in stating the real reason behind both Jamaican and Greece debt woes. The tribune, our government and the opposition Labor party both support and uphold the liberal policies championed around the world as the savior of mankind and the economic engine of that Salvation is the International Monetary Fund.
The International Monetary fund is the instrument used by the United States to keep countries indebted so as to maintain its world economic dominance. Both the government and the opposition are right when they state that there is a difference between Greece and Jamaica economic debt arrangement, Jamaica's primary debt is owed to the Jamaican private concerns while Greece primary debt is owed to multilateral lending entities and the IMf. Mr. Audley Shaw in defending himself and his government policies while in government reveal the arrangement made with the local private concern to drop their rate from sixteen percent to eleven percent so as to use that savings to implement his government failed promises. The interest earned by ordinary Jamaicans is one percent and two percent, the local Jamaican private concern is earning eleven percent!!
Both Political Parties are to blame for our current crisis. Both follow the dictate of the Private Sector and their imperial master, the United States. Under the leadership of our late nationalist leader the Honorable Michael Manley, attempts were made to put in place a program to have our country be self sufficient and to be master of our own destiny. This vision of independence and sovereignty was crushed by the private sector and powerful United States right wing senators in collusion with the recently honored parliamentarian, Edward Seaga. Then came along the most conservative member of the Peoples National Party and a darling of the financial sector, the honorable P.J Patterson who masterminded the largest transfer of wealth from the poor to the wealthy, he also was honored. A historical fact that both our Jamaican Political actors and the Chicago tribune failed to mention.
The result of this failed economic system (Liberalism) was not mention by the Chicago tribune and our two political tribalists. They could not, it would have been embarrassing. We were witnessing the continued migration of our teachers and trained professional, averaging twelve to fifteen murders per year, high unemployment, increase in suicides, and starvation among young parents, alienation, deterioration in our health and social services and rampant crime. The only successful entity was the Private sector, earnings billions every quarter. How can a country grow with that type of Economic arrangement? Our Present government continuing to mislead our people by not admitting that they will sell off more of our assets, increasing taxes and getting the security in place to deal with impending social unrest.
The solution to this crisis needs foremost, the putting of our national interest first. We must ask the Private concerns (creditors) to show their patriotism by accepting a one to two percent on the seven hundred and fifty billion owed to them and use those funds to invest in agriculture and export oriented business, housing development to increase employment and infrastructure improvement. To the IMF that we owed two hundred and fifty billion dollars we lobby for forgiveness on that loan or a reprieve for ten years so as to get our house in order.