Unraveling economic stagnancy

The economic stagnancy—where nothing has improved over the last 10 years—pits the elected elite fulfilling their promises for brighter days as hardship pummels households in the villages.

It’s a tough economic condition that crashed in recent past when major investments took an exodus from the NMI. About $5 billion-$7 billion of money that was once recycled in the local economy was flushed out the floodgates. Dazed by its dire effects we walk around talking to ourselves why the grand dysfunction ignoring the self-inflicted apraxia.

Fiscal Sinkhole: Indeed, the huge gaping hole in what’s known as budgetary shortfall (fiscal sinkhole) is difficult to fill and not when we simply don’t have the political resolve to do the right things by doing them right. We sleepwalk them hoping for a miracle of sort.

Furthermore, the lack of a genuine plan is a serious indicator that we’re still feeling our way around, heavily disoriented and apprehensive in adolescence. Or do we give it simple acknowledgment hoping to leave town before the deluge sets in?

Trashing Our People: Of course, we’re wary of the previous Legislature’s unilateral decision subverting the voice of the people on casino. Remember we said “no,” twice? Has this morphed into fait accompli or would it return to haunt politicians in the near term?

With apprehensive smiles, outsized ego, and their integrity cultivated and neutralized by their new masters with deep pockets they simply trashed their relationship with “we the people.” We would see how this pans out over the much-hyped answer to averting bankruptcy.

Policy Instability: But what other constructive policies have been undertaken to ensure that it survives? Didn’t it include statutory exemptions and other decisions never granted other businesses here? Isn’t this a negative in the keen eyes of others businesses who’ve struggled to make ends meet? Take a quick glimpse if you haven’t already claimed lordship superficially for a favored investor. Like it or not, all roads lead back to policy instability, time and again, a ruination we are incapable of fixing. Isn’t this an abdication of fiduciary duty?

New Concept: There’s the concept of an “integrated resort” to bolster tourism beyond the traditional sightseeing that has been around for over four decades. Must we not be a part of the planning process to determine the size of the project and whether it is affordable and sustainable? For instance, who decides development issues? Have policymakers answered the immigration hurdle that ends CW workers here by 2019? It’s all about the right hand knowing what the left is doing, right? Anybody home?

Homogeneity: We need to work up the resolve to determine the future and breadth of development here, including an ever-important query: do we keep investments homogeneous or heterogeneous? In other words, how do we deal with key investments and should tourism be limited to only a single market source? It’s a tough query its growth and wellbeing contingent upon thoughtful disposition. Hope it doesn’t decompose in passivity land!

Investors are very keen to the setbacks they face here in terms of the obvious lack of basic infrastructure. Without their emplacement—water, power, sewer, and roads—nothing moves. The query points right back at the elected elite and whether it has the resolve to make the planned investments move forward in stride. If not, then it eventually drifts into the sunset. Get my point?

Caveat: The issues aren’t difficult breaking down so we understand what they are and whether dispositions are warranted at this juncture or should we not adopt a “go slow” paradigm? It’s all a matter of navigating against the head winds of bankruptcy versus opportunities. Deal with it!

The essence of time
I’ve run into several policymakers who seem contented, you know, the business as usual attitude in very unusual times. Disappointed, I’d quiz: And at their feet we’ve placed our livelihood?

I’m not sure what to make of the adolescent attitude and whether it’s sheer arrogance or ignorance or both. For the former to prevail the elected elite would have to be doing the right things by doing it right. So it would have to be on the latter just dazed spouting unvarnished thoughts disoriented. Is confusion a form of wisdom? Is it the same as success attained because of failure?

Regardless, I’d say my piece on any issue of substance responsibly. To slide into realism could derail attention to what ought to be done over what is being done. We’d lose out to ruination rather than preservation of what we wish to see in our future using traditional values as our guide.

With fecklessness and indecisions, how do we jerk ourselves from economic stagnancy that has settled like silt at the bottom of Lake Bankruptcy?