Where is it? (Did we have a recession?)

Posted on July 7, 2009 by frameone @ 2:45 pm | Category: Uncategorized

Well first of all, let me say I am glad to be back. I know I havent posted recently on the blog but I have made up my mind that that has to change! Let’s see what major items I have missed in blog posts…The Summit of the Americas..The launch of the Interchange. Well just to give you all a quick recap, the weekend for the summit was traffic hell! And the launch of the interchange greatly reduced traffic heading south after work as I had predicted. I am actually very proud of the interchange and I see they still have lots of work to do but I digress.. That’s for another upcoming post!

The main question of this post is about our “Recession” here in Trinidad. When the year started and the US was in big financial difficulty we did feel some of the fallout here in Trinidad. As the year rolled by I have seen and heard of companies cutting back on staff and production but I haven’t really felt the CRUNCH that everyone was talking about. Heck, last week the oil prices started going back up! I know for a fact that a lot of companies that are internationally based have been feeling the pinch but locally it seems that everyone is either oblivious to the fact that the world had crumbled around us, or too proud to let that affect us financially!

Where are all the signs of a recession in Trinidad? Where are all the low and falling real estate prices? Where is the low cost of food and services? Where are the low costs of vehicles? Are we the Mighty Trinis able to stand up to to this world recession and laugh in its face or is it fools gold that we are playing with?

Please, I would like to hear your views in the comments.

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2 Responses to “Where is it? (Did we have a recession?)”

  1. brakefluid Says:

    I think right now we are in a ‘neutral’ zone. We aren’t facing a downturn but neither an upturn. I wouldn’t say we are out of the woods just yet. I don’t know the facts and figures but that’s just the way it feels to me.

  2. Turbocharged Says:

    We are in recession but are told otherwise by the politicians in order to continue consumer spending and so prop the inflation around us.
    The basic revenue earner is natural gas derivatives.- LNG, methanol, ammonia urea etc. The price of henery Hubb gas a price marker is sub 3.00 US per MMSCF at this price LNG is running at a loss, commodity prices are less than half of what they use to be .
    Significant revenue loss has occurred ….Watch the heritage fund dissappear soon, then we would feel it.

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