Our Heads In The Sand as The Bahamas Downgraded By Moody’s….Again!

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What Are We Going To Do About It? Nothing as usual.

Three times in three years the Bahamas has been downgraded by international rating agencies and still we have our collective heads stuck in the sand.

I’m reminded of the story about a frog and a pot of boiling water; if you throw a frog in a pot of boiling water it will immediately hop out, but if you place the frog in room temperature water and slowly bring up the heat the frog will just sit there.

It seems that we as a nation are frogs in this case, we cannot appreciate the danger because the heat is rising slowly. So we go about our daily lives oblivious to the danger we are faced with. 

The really disturbing part is the people who should know better seem to be clueless or are intentionally misleading the people. I remember being incredulous at the reaction of the government after Moody’s downgrade our outlook the last time. Members of the government not only downplayed the event, but went so far as to question the credibility of Moody’s!

Although this slide in our rating started as a result of the worldwide recession in 2008 what I find troubling is we haven’t really adjusted our behavior. 

What measures have been put in placed over the last 3 years to control spending or to limit waste? None to my knowledge.  

The current administration will be quick to blame the former administration, who in turn will be quick to defend themselves and point out how the current administration have continued spending at an alarming rate.

After a few days going back and forth in the media, another murder will occur or scandal will break. Our focus will shift and the government will carry on as usual…. 

The temperature is rising we need to heed these warnings and make a move now before its too late.

Your Turn:

How can we turn around this situation?

– Talk Bahamas

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