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A Mark Buchanan article in Bloomberg last week was called “Beware of Economists Peddling Elegant Models”. In it, the theoretical physicist proposes that – “Mathematics can be beguilingly elegant. It can also be dangerous when people mistake its elegance for truth. Albert Einstein’s theory of general relativity might be the best example of elegant math, […]
Beware of the Alchemists Read More »
We live in fascinating times indeed. Daily we see gossip reported as news and news as gossip. I am eagerly looking forward to June when Jeff Daniels reclaims his role as Will McAvoy on HBO’s The Newsroom. I so admire his ‘civilizing mission’ to help his news program’s audience, make more informed decisions in the
The Cult of Short Termism Read More »
In his ‘Big Soccer’ blog (http://www.bigsoccer.com/soccer/bill-archer/2013/03/19/jack-warner-man-of-action-losing-traction/), Bill Archer made certain allegations about a former Vice President of FIFA. Of all the allegations made in the blog, there are three that jumped out at me. Firstly, Bill Archer alleged that certain US law enforcement agencies, including the IRS and Homeland Security, looked into the former Executive’s
IRS Trouble for ex-FIFA Executive Read More »
HM Treasury’s website notes that “The Budget is the single most important economic and financial statement made each year by the Chancellor of the Exchequer to Parliament and the nation.“ The Chancellor of the Exchequer, George Osborne, presents the next Budget on Wednesday, 20th March. As the dominant party in the coalition government focuses on
Budgets and Inflation Worries Read More »
My first experience in Venezuela was a teenager in the 1980s when our family visited Caracas. Some years before the 1989 riots in Caracas, anyone could feel the tension in the air. Like Trinidad, weak oil prices took a toll on the economy, and social tensions were high. It was the first time I had
Venezuela and Trinidad Read More »
Many would say that the drug trade is responsible for much of the increase in violence that terrorizes the Caribbean region. It would appear that the United States is not just aware of the escalation in violence but is already taking action to combat the drug trade. In his blog, Kevin Edmonds points out that
Drones, Ponzi Schemes and Caribbean Money Launderers Read More »
Starting in the 1960s, certain Caribbean territories were granted independence from the United Kingdom, and since then, some of them have struggled to define themselves in the new global landscape. At first, they continued with their monoculture of sugar cane or bananas, and as that collapsed, they switched their dependence to tourism. Given the risks
Caribbean Offshore Financial Centers Read More »
As the Caribbean comes to terms with the implications of FATCA, some territory governments are considering signing Intergovernmental Agreements (IGAs) with the United States. By way of background, the Foreign Account Tax Compliance Act (FATCA) is part of the effort by the US government to prevent money laundering, and reduce tax evasion. It has implications
The IRS, FATCA and Caribbean IGAs Read More »
A couple weeks ago, the Nassau Guardian reported that the Bahamas Hotel and Tourism Association reported a problem to the Caribbean Hotel and Tourism Association. A change in US tax regulation has meant that US credit card companies were implementing an automatic 28% withholding fee on payment to their members. Undoubtedly this is a situation
Impact of IRS Rules on Businesses outside of the US Read More »
Last Saturday, I met up with a fellow Trini for a chat at a Starbucks here in London. My friend and I worked in somewhat related areas, so we spent time recalling just how aggressive and sometimes unethical business culture could be. The concept of ethics, both in business and politics, is one that frequently
Principles and Practice of Fairness Read More »