After the State of the Nation address only confirmed that we are led by a group of confused individuals, the reality of economic stagnation became apparent at the Central Bank and the Ministry of Finance. They now know, what every Seychellois and every investor in Seychelles knows: "Seychelles is in a period of deep economic stagnation".
Central Bank Governor Sounds the Alarm on Lack of Demand
On SBC this week, Extra news, we could see Journalist Georgette Hoareau turn her cheeks and twist her lips as Miss Caroline Abel, Leftist Central Banker tried to come to grips with the relation between Supply and Demand and the value of the Seychelles Rupee versus other currencies in her currency basket of bureau exchange rates. The Seychelles Rupee is gaining ground on the Euro and US Dollar not because of high economic performance, but because of lack of any demand for the Euro and USD in the local markets. This means wholesalers are not ordering new goods, banks are not lending money as she confirmed banks have 0% loans this year; and consumers are not buying goods. Store shelves are going stagnant with expired goods, everyone is a businessman these days, peddling all of the same things. At Lou Lou, a Kot Meyer affiliated company, you can buy panties bras and roofing and paint, under one roof. Another example o the madness of JAM's version of an open economy that has led to chaos and stagnation. Fast Track of over 400 houses many of which are tin shacks for tourism development is another JAM brainwave that is destroying Seychelles reputation overnight as a quality destination. The Seychelles Rupee is the casualty of all this mess created by JAM the man. A strong rupee is bad for generating future revenue in Tourism and Fisheries because it makes Seychelles NOT COMPETITIVE. This is what Miss Abel was trying to say to the SBC anchor. Hats off to the Central Banker for a solid effort to expose the madness a little, now try to establish some independence from Pierre Laporte and carry out your mandate. Start by cancelling his salary.
Stagflation In Seychelles
Stagflation is the stagnation or immobilization over a prolonged period of an economy, depicted by long periods of slow growth and severe under performance of GDP measured usually by unemployment, but not in Seychelles case. In Seychelles, you can measure the inversion of unemployment, that is 13800 GOP workers that suck hundreds and millions of Seychelles Rupees out of Seychelles, because PL has maintained a policy of 0% birth rate now for over 20 years to hide their failed economic policies and to alter the real GDP per head upwardly in the country. The reality is that Seychelles is significantly under performing and she is not meeting the GDP growth targets expected of her annually of 6-8%. The potential for growth is escaping us every year, because PL cannot seem to get its act together as serious government of ideas and action. They are only a serious actors guild of fake presentations fake audience, fake air time on SBC. Today, even the SBC journalist cannot hide their impression of PL ministers when they turn up for a session of literally fooling the people.
State of Confusion At Lands Ministry
Minister Lionnet turned up at Extra Extra as well. He sported a pair of glasses, spoke in his neck, and kept on avoiding a look at Georgette Hoarau. But the way Georgette Hoarau looked at him was enough to send him to confinement at "KAZERN" early. No credibility. What is worse, every thing he said was just wishes and promises to do something tomorrow in his ministry which simply exposed one thing: he has been doing nothing all this time. What a waste, to have spent so much to educate this fellow, now Government of Seychelles is left with a deadbeat in Lands and Patrick Lablache has to do all his work. Yet he works for IDC. JAM can do better then that.
Tourism Miss-steps on Direct Flights
Minister of Tourism promised us Turkish Airways will do a direct flight from Europe last July 2012. We are still waiting for this direct flight. Turkish Airways is willing, able, ready, to run Seven (7) flights per week from Europe to Mahe, Seychelles. What is PL waiting for? Still trying to make Cramer's Balls shine like a big round marble? Air Seychelles has been sold off to Etihad under JAM. It will never come back unless we change the government and cancel the sale. We are wasting time supporting an airline that picks routes for Etihad first and Seychellois second. The most expensive flight into Seychelles from Europe today is Etihad-Air Seychelles. That says 100% out loud what kind of a partner we have under JAM.
The Minister of Tourism blames the Minister of Transportation for this fiasco. When I spoke to the Minister of Transport on this issue, he told me he take orders from JAM. He said it is JAM that is holding up Turkish Airways, because he must keep Etihad happy and Mr. Khalifa must be kept in perpetual elation.
All you big women in JJ spirit with big arms and little tiny non existent voices, can you speak up on the future of Seychelles as real solid women and stop functioning like a bunch of flower pots that turn up for every event because the food is free?
Sesel Pou Seselwa!
May God Bless All Freedom Loving Seychellois!