Baseman posted:Billy Ram Balgobin posted:
Guyanese people should pay attention to what Saudis are doing with their economy, especially with ARAMCO. The CIA said the oil kingdom is running out of cash because of low energy prices. We can observe the number of Trinis living in Guyanese-owned apartments in Queens have been increasing steadily since the price of oil fell in 2015. Angolans are running from a country that produces close to 2 million barrels of oil a day. Iranians are dying on the streets protesting high taxation and high prices. Norway is forced to tap into its oil wealth the help the nation balance its budget and Suriname's 100 million a year earnings from oil has dwindled to 25 million putting severe pressure on that little's country's economy.
Why big-head David Hinds and old scrap Clive Thomas think Guyana can afford to give each citizen 5k annually? People ought to start asking questions and not just sit back and believe everything that's told them.
Well nuff people swallow whatever they hear! I still remember the PNC banna steering at me when I asked him what happen when oil runs out!
As for Norway, they have a massive fund, 10% of all global equities, which generates income! So they tap into the income portion. That’s why they built it up!
The proposed Guyana sovereign fund will have a similar structure which, with parliamentary approval, will allow tapping into the income portion. And this will have limitations!
How can we put away monies in the sovereign fund when we desperately need it to pay off debts and fund new projects? Can somebody educate me on this one. I don't get it.