Welcome

Dennis Jones is a Jamaican-born international economist, who has lived most of the time in the UK and USA, and latterly in Guinea, west Africa. He moved back to the Caribbean in 2007. This blog contains his observations on life on this small eastern Caribbean island, as well as views on life and issues on a broader landscape, especially the Caribbean and Africa.

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Friday, October 10, 2008

Barbados Also Needs a Bailout.

The place in Bridgetown known as River Road, actually lived up to its name yesterday, as a tropical wave's mid-morning downpour hit this little rock yesterday. My friend, DP, took some pictures and let me share them here. So, while governments in the US and Europe were working on details of how to bail out banks and other financial institutions, people in Barbados were improvising in bailing out cars, shops, houses, and schools.

Several people who had calmly parked their cars to go to workcame back to find that they needed a dingy to get their cars. And then needed to drain the water from inside. Barbados does not have underground car parks; but now it had instant underwater car parks. What a progressive nation!

Cars stalled. Road-side vendors had to stand in waist high water if they wanted to keep selling. One poor woman, trying to stay calm as she retold her story on TV, said how "the water would not let my car pass". That's the power of nature.

Many so-called developed nations were trying to satisfy their citizens that they could get their hands on deposits in the banks. Now, many Barbadian citizens found that the banks had flooded them with deposits--and they were not happy. No satisfying people.

While panic was still swirling around the world's financial markets yesterday, the rains had subsided in Barbados, and life was back to what is called normal. That's paradise for you.

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