Hamjatta,  Your comments to the Gambia's state of economic affairs can't be
more factual.  This is an excellent piece to read.  Had a few to add or
comment upon.

Basically, we're here because;

1.  Poor monetary expansion policies of the gov't (printing money or
borrowing from the CB -same thing), they ain't cutting the darn ol deficit.
Just playing WIG (Watch-it-grow).  We'll never learn from our predecessors.

2.  Low productivity, where aggregate demand is significantly > aggreagate
supply.  Better yet creeping inflation.  This is the last thing we need, but
here it comes.  But who to blame for the low morale.

3.  Influx of foreigners.  We openly welcomed the ills of other neighbouring
societies, the remnants of their jails, etc.  We did all this without any
means of embracing them.  Can't blame them for upholding the motto: "The
Gambia, No Problem!"

4.  The existences of two economies...Kanilai economy vs Gambia economy.
The problem is Kanilai economy although smaller, controls Gambia economy.
What results is an unequal economic struggle between two sectors, the former
is very dissipating/squandering while the latter is burgeoning, backwards
ONLY!

Going back to Milton Friedman,  "The Road to Hell is paved with Good
Intentions!"
We haunted by the old phrase..."dama/denj foorgon-neh..."

Looking forward to your next posting.

Essa


>From: Hamjatta Kanteh <[log in to unmask]>
>Reply-To: The Gambia and related-issues mailing list
><[log in to unmask]>
>To: [log in to unmask]
>Subject: Budget 2001: The Spectre of Stagflation
>Date: Fri, 26 Jan 2001 00:41:22 -0000
>

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

----------------------------------------------------------------------------

To unsubscribe/subscribe or view archives of postings, go to the Gambia-L
Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html
You may also send subscription requests to [log in to unmask]
if you have problems accessing the web interface and remember to write your full name and e-mail address.
----------------------------------------------------------------------------