How to bankrupt a country in 3 easy lessons

“… The present fiscal year could close with a deficit of more than RD$2,000 million because of the low level of revenues in the first trimester of the year.”

“… This would bring the total –of loans- to US$1,400 million, without taking into account other loans being discussed.”

“"… Delay of the monetary authorities in offering the economic statistics for the first trimester,"
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“How to bankrupt a country in 3 easy lessons”

1. - PROCEED TO RAISE YOUR EXPENDITURES TO THE POINT THAT IT EXCEEDS YOUR INCOME. No rule shall be applied on how to expend the public money. Excessive bureaucracy may be used here; another good idea is to utilize the money for the party’s purposes. Forget about making ends meet, the ends don’t even have to wave at each other.

2. - START BORROWING YOUR WAY TO BANKRUPTCY BY TAKING MORE MONEY THAN YOU COULD POSSIBLY PAY. Please make sure that you knock at the doors of every international and local institution that you could possibly borrow money from. Don’t waste time discussing such unimportant subjects as payment plans or interest rates, as you will not pay these loans yourself. You will better invest your times in knocking on as many doors as possible.

3. - COVER YOUR MISDOINGS BY REFUSING TO DISCLOSE YOUR ACCOUNTING. This serves the purposes of preventing the Opposition from wasting your time by having to explain your acts, thus giving you more time to comply with rule no. 1 and 2.

This also available in Video. Please call and ask for “Everything for the Party, The Video”, RD$124.99 this week only. You may not be an Economist to understand these lessons; Agronomists are welcome.

Right on Clara, sounds like a lot of other countries, where the GND exceeds to GNP.
If I spent more than I earned, my trips to the DR would have to be curtailed.

CLARA AND HLYWUD, you know, my grandpa always said you can not spend money you don't have....Governments, including the USA, siim not to understand this basic principle of accounting or economy.
My grandpa also said, if you have to borrow money or go into debt to buy something.....you can't afford it.

Think my grandpa was much smarter than our overpriced, overpaid politicians....

Hipolito and the PRD won the last election with double the votes of either of the two other parties. The people have spoken in a free election. So many people can't be wrong. Democracy works!

Sure does in the purist form, but what government in this world is using the principles of democracy correctly. The will of the people certainly was not to spur on the economy with deficit spending. Only if they had known!
Same thing is happening world wide, yesterday US banks lowered interest rates to 4% down 2.5% the in last year to spur on spending, all that will happen is more deficit and the people themselves will be in hock up to their ears using their plastic to buy goods not really needed. As ECH alluded to, if you have to borrow for it, you really don't need it, exception is housing which is an investment in the future and most have to borrow to buy.
Just my thoughts.

How many business' startup up in the black?

How many of you bought a house with cash and no mortgage? Or even an automobile for that matter?

Could free enterprise operate without credit? I don't think so.

Let's see how democracy works, at least in our beloved country. The parties give us a limited selection of candidates, of which the Dominicans try to elect the one they feel is the lesser evil. If we had the capacity of foretelling we may have chosen diferently, right? But then again, we don't have that capacity, and the ones that may have it are probably regarded as "Cassandras".

So Mousie, now we are stuck with a president that is doing a lousy job IN THE NAME OF DEMOCRACY. That means, that even if we don't like him we are stuck with him for say, another 3 years and 3 months. That's democracy buddy: Elect the one you like and then get stuck with him/her when you don't like him/her anymore. Happens everywhere

Many Dominicans vote soley for patronage reasons. Even though my wife KNOWS that Fernandez was the best President they have had for a while. She was going to vote for Ballaguer!

Why? When Ballaguer was around the last time she had a good Govt. job, because her Mom was politically active. She remembers how much better off her family was doing during those times, so assumes Fernandez was only good for the rich people!

After explaining "trickle down" and how in the last year of the Leonel administration, the DR economy grew more than any other in the world, she voted for Danillo.

She says things are worse now than before Hippolito. Of course they are, he is scary.

Third world countries where some people possibly only chance at a decent job is through patronage, vote with their wallet. They vote for what is best for THEIR family, not for what is best long term.

Congratulations Ralph! I see you that understand Dominican elections. Same thing in Venezuela. People vote for the party they think that they have enough influence with to get a job. Of course they prefer jobs where they can get bribes and kick backs.

The voters rewarded good government and high economic growth with a resounding defeat at the polls (PLD). They don't care about the country, the long term economic impact or the poor. Only in how much they can grab for themselves. As they have made their bed, now they must lie in it for the next 3 years plus.