The Theory of Grangernomics


– On Birth Control – No New Idea Conceivedsince taking office
– Rearrange the Letters in Economics you will get Comic Nose
– Grangernomics touting projects already funded under the PPP
Grangernomics theory is very easy to understand. He has been on birth control because not a single new idea has been conceived since taking office in 2015.
Grangernomics is about taxing the citizens, scare away the investors, preside over corrupt practices such as Durban Park, drug bond scandal, entertaining in his office a criminal to sign a parking meter contract that rape citizens, while he himself made a whopping $50M since assuming office and paid zero taxes.

In essence, the basic concept of Grangerenomics is to mirror 1980s’ policies in order to replicate what Burnham did, which basically resulted in the decline of Guyana’s economy.

I sometimes wonder if Mr. Granger is just sleeping during working hours. He appears to only pop up to cut ribbons at ceremonies or to participate in his pre-selected question and answer sessions on a robotic TV show.

It took students with 13,000 signed petitions – “Removal of VAT on Private Education” – to wake the President from his slumber and yet he decided to punish private educators and refused to reverse the decision..

One commenter on Social Media said they just cannot understand why this APNU+AFC government would make such a rookie mistake as levying a tax on private schools.

It does not make economic or political sense. Even the for-profit schools in the USA depend on government subsidy and all private non-profit colleges need government subsidy to survive. To date, the Parking Meter Scandal, the VAT on Water and Electricity and the other 200 taxes are all part of the Grangernomics.

Breakdown of Grangernomics:
1. Claims $300B stolen by the PPP per year, but Guyana’s budget is only 250B in 2017; failed to list any specifics.
2. Preach ‘Good life for All’, but only apply it to himself and his multitude of ministers
3. Close sugar estates – put thousands on the breadline
4. Burden the citizens with 200 new taxes, but don’t pay any himself
5. Foreign direct investments down 62% from 2015.
6. Manufacturing down 12.4%
7. Take credit for projects that the PPP had already secured funds for (See insert)
8. Tuition-free university promise – never happened
9. Jobs for all UG graduates – never happened
10. $1B wasted on Durban Park
11. Most expensive government in history
12. Parking Meter Scandal – affecting consumer spending and business sales
13. Housing market collapse
14. Collapse of the rice industry
15. Foreign exchange rates skyrocketing
16. You add to this…………….

Grangernomics this week opened a new water sanitation project that was funded under the PPP. The Minister of Infrastructure outlined the East Coast to East Bank Bypass road. In KN 2/27/2017, it was reported that the Minister said that his major project this year was the East Bank Bypass road.

No mention was made that these were projects inherited from the PPC/C government but were now being implemented.

Grangernomics added VAT on internet services, subsequently GTT announced the layoff of 120 workers. Banks are reporting massive losses on loans. There is a paradox to confront.

It concerns the relationship between Grangernomics theory and the true practice of economic policy. Grangernomics ignore the fact that Guyana’s economy has collapsed. They have resurrected the failed economics of the 1980s and given them new implementation life today. What was dead in the water over thirty years ago should not be refloated.
Grangernomics has turned out to be a roundabout with no exit. One leading economist said: “Why impose policies that distracts from the core problems facing the country, namely the near death of Guysuco, the pressures in the foreign exchange market and the myriad of social and economic discontents.

Summary
We, as a people, as a political Party, are for the wellbeing of our nation; we are for sound economic and fiscal policies where each and every citizen benefits. We have and will retake our nation to reinvigorate our economy where as the Leader of the Opposition has said, you will see removal of ludicrous and punitive contracts such as the parking meter, VAT on water and electricity and other stringent taxes that are crippling our economy.

They will all be confined to the trash can where they belong.

We are not opposed to any sound, well thought through economic initiative, we want the return to the development of the Hydro that will significantly reduce our dependence on costly fuel driven power generation that gives us blackouts daily; we want to see the development of our transformation projects that include value added industries in rice and sugar that will keep thousands of our people gainfully employed.

As the Leader of the Opposition has said many times, we recognize our mistakes, we take full responsibility; we will work even harder to regain the trust of all citizens.

We have demonstrated our economic vision and leadership with decades of positive GDP growth; we want you to join with us to ensure our Guyana remains a growth economy, a leader in the region, where each and every one of us feels protected and safe.

We fervently disagree with marginalization, victimization and bullyism of our people.

We will ensure Grangereconomics disappears as fast as it came, that prosperity returns to benefit all Guyanese and stop the alienation of large sections of the population who are being grounded down by draconian policies and actions.

We will be back.