News
The Dollar, Debt, and World War 3 Part One
By Dickson C. Igwe
The Virgin Islands inhabit an increasingly unpredictable and dangerous world. The policy of the Virgin Islands forging strong links with Asia is a great vision. Asia is the future. Agriculture and fisheries can no longer be an option. Countries in the Caribbean must aim for self- sufficiency.
Trust, confidence, and dollar debt
By Dickson C. Igwe
OK. There has been much news about the Non-Aligned Movement in recent years. These are countries considered neutral- not linked at the hip with the USA or the West. BRICS- Brazil, Russia, India, China, and South Africa and nations in the Middle East, plus a number of others in Asia.
Trust, Confidence and Debt
By Dickson C. Igwe
OK. The 2008 Financial Recession was an example of Dollar redundancy saving the day. The Federal Reserve replaced the impending losses from bad debt from the Sub Prime Mortgage Crisis that could have collapsed the entire western banking system, by creating even more debt. However, this was debt with a difference.
Spirit Airlines faces potential bankruptcy
VI CONSORTIUM
FREDERIKSTED, St Croix, USVI- Spirit Airlines has been facing severe financial difficulties, with shares dropping to an all-time low on Friday, October 4, 2024, following reports that the airline may seek Chapter 11 bankruptcy protection.
When Capital Thrives
Dickson C. Igwe
There are seven pillars upon which capital and growth rest and thrives, Virgin Islands capital from preceding narratives is the land, human resources, technology, learning, and finance that drives the economy and national prosperity.
Vincy man arrested in USVI for smuggling humans from Tortola to St John
CRUZ BAY, ST John, USVI- A St Vincent and The Grenadines national has been arrested by border patrol authorities in the US Virgin Islands and placed before the court for attempting to smuggle people into St John, US Virgin Islands from Tortola, [British] Virgin Islands.
Leveraging debt
Dickson C. Igwe
Now, middle-income consumers—the $30-100K income bracket that most of us fall into in the Virgin Islands—use debt for a mortgage, or a car. However, for food, drink, clothing, and lower-priced items that are essential, such as rent, electricity, and water, middle-income consumers use cash that is available and not borrowed.
Debt is a transfer of wealth
Dickson C. Igwe
Debt is like oxygen. It is everywhere in the world of economics. Debt is currency used to pay for what we want and need. It pays for products that are essential to existence such as hospital care, a roof over the head, or a vehicle in a land with no adequate public transportation. Debt can follow us to the grave if we do not pay off debt at a certain age, leaving our survivors to pay the debt.
VI Gov’t takes steps toward public debt reform with self-assessment
ROAD TOWN, Tortola, VI - The Government of the Virgin Islands (VI) has undertaken a Debt Management Self-Assessment to evaluate the various processes and institutions currently in place to guide public debt activities as facilitated by the Commonwealth Secretariat’s Debt Management Unit from September 18 to 29, 2023, and spanned the full gamut of government debt management functions.
Debt generates wealth
Dickson C. Igwe
Capital ownership has driven increasing social and wealth inequality practically everywhere. Social inequality is a global phenomenon driven by the power of capital, and the owners of capital. Capital- human and physical assets that generate wealth- tends to increase the wealth and power of those who control capital. Today, wealthy capitalists own the most powerful corporations and practically run the world.
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