Rambling thoughts on the 171% DEBT RATIO OF BELIZE

Until somebody factually corrects me, I´m going to assume our DEBT to GDP ratio is 174%?

That said, with the GREECE DEBT ratio being 187% or something and the EU government have decided that all BANKS owning GREEK BONDS, will have to do a BOND SWAP taking a 50% cut in value. They say that will reduce the Greek debt to 120%, though they also say that in two years the GREEK DEBT will still grow to 142% if nothing else is done. The 50% cut in the BOND SWAP recommendation is insufficient in my amateurs position. They can´t make it on that.

Argentina led the way, by doing a 100% DEFAULT on their debt, and ever since, by relying on their own resources they have been BOOMING along with the economy growing by leaps and bounds.

Anything over 35% of GDP as a debt ratio is basically unsustainable. The foolish people and bankers who lend money to bankrupt countries are responsible for their own HIGH RISK taking. They should lose their investments and gamble in my opinion. The trouble for bankers in the international realm, is the world is awash with trillions of trillions of dollars that is losing value, unless it gains some interest. The amount of interest to stay even varies from country to country. But still you can´t bury your money in the ground, or a vault, without it losing value.

The IMF are no solution at all. They are nothing more than muscle men for the bankers, who come in and break kneecaps and put governments and countries in the hospital to collect, or continue to try and collect bad debts. They are enforcers. Under the IMF the government employees would be cut by 2/3´s.

Unless DEAN BARROW is smarter than I think he is, then I assume he has been borrowing money from all and sundry and plans to DEFAULT after he gets re-elected. I see no other solution to his actions. Ashcroft has also said it. Belize will default! If our DEBT TO GDP ratio is indeed 171%, then of course it is unsustainable and we will be best to DEFAULT in total. Without borrowing outside money, we can survive like Argentina did and probably BOOM as well.

As a civil service employee, it behooves such educated people to start a small export manufacturing business as a back up plan. If worse comes to worse, you will definitely need it.