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Fed officials widely divided on rates at July meeting

WASHINGTON — Federal Reserve officials were widely divided at their meeting last month when they decided to cut rates for the first time in a decade, with some arguing for a bigger rate cut while others insisted the Fed should not cut rates at all.The minutes of the July 30-31 discussions showed two officials believed the Fed should cut its benchmark policy rate by a half-percentage point, double the quarter-point reduction the central bank eventually agreed upon. On the other end, some Fed officials argued for no rate cut at all, believing that the economy was beginning to improve after a soft patch in the spring.The minutes did not indicate any consensus on whether future cuts would be needed.Martin Crutsinger, The Associated Press read more

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EYEWITNESS Hustlers…

Over the past three years, we have noticed a lot of offices being filled with hustlers. And even worse, with HYPOCRITICAL hustlers, who define the term “grifter”: small-time; greedy, and always working the “con”.The phenomenon’s so pervasive it’s got to be the demand of these qualities in their screening process; there’s no way it could be coincidental!Take the latest scandal that’s exploded over at the Chronic, which is titillating the chatterati in Georgetown. It really doesn’t faze folks outside of GT, because their default assessment-setting when it comes to political operatives in the capital is “a bunch of crooks”!! It’s called “folk wisdom”, and it comes from their experience with the species.So we segue into the “Case of Sherod Duncan”, who slithered into the public’s view when he was in UG Law School. Boy, was he agitatedly agitating all over the place!! Thank goodness he didn’t complete his training over at Hugh Wooding, or he would’ve added another burden to the already abysmal reputation of the legal profession!! Anyhow, he gravitated to the AFC since he obviously saw so many of his mirror images in that den of iniquity.After all, which other party leader but AFC’s Trotman would publicly announce they accepted financial contributions as “political investments”??!! Incidentally, have you noticed that pronounced “mean and hungry” look in both Trotman and Duncan?? The AFC fielded Duncan in the GT Municipal Elections, and he became their point man on the City Council, where he went after Mayor Chase-Green like a little fox terrier!!If you ever want to teach a callow youth about the essence of hypocrisy, just regale him with Duncan’s polemics after the Parking Meter Scandal was exposed…and compare them to his ACTIONS in the present Chronic Scandal. The essence of Duncan’s charges was the Mayor made decisions without the permission of the Council on matters concerning the City…and was jetted to Latin America, wined and dined, and God knows what else!!As for Duncan at the Chronic, he was occupying a position as GM that he’d obtained under false pretences (not to mention a conflict of interest, being a member of the Board) since he didn’t possess the requisite qualifications!! With the dissolution of that Board, and with no one to look over his decisions, the man went on a shopping spree that would’ve made Imelda Marcos blush, even with her 7,000 pairs of shoes!! And then he unilaterally fired the Financial Controller he thought had finked on him!!But Duncan’s just a type. Just look at the profligacy of his supervisor, Nagamootoo.He might just get promoted!!…in diplomacyPM Bruce Golding of Jamaica once insulted us by sneering that all Guyana did diplomatically on the economic front was run around with a “begging bowl”. It was Burnham who’d brought Guyana to the shameful point of being declared officially BANKRUPT. And with every single economic sector razed by his co-op socialism and graft, the only option was to seek “debt forgiveness”. PPP didn’t ADD to our debt!But with that debt-albatross removed by Jagdeo, what excuse does Foreign Minister Greenidge – who, not so incidentally, was FINANCE Minister during Burnham’s Nero imitation – have for begging for loans?? Pick a lender – any lender – and Greenidge would’ve bummed them for a “raise”. World Bank? Check! China? Check! US? Check! IDB? Check! IsDB? Check! India? Check! And so on and so forth.So, for Greenidge to boast about “economic diplomacy” is to add insult to our economic injury; especially when the one bright spot of finding markets for our rice is through private initiatives.Maybe he can facilitate payment from Panama?…and fuel suppliesWith T&T shuttering their refinery, we now have to scrounge around for fuel supplies. Has our newly appointed Energy Czar taken responsibility for ensuring at least GPL gets oil?They don’t need another excuse for blackouts!! Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedEYEWITNESS: Changing…June 26, 2017In “EYEWITNESS”EYEWITNESS: Affirmative action…October 26, 2017In “EYEWITNESS”EYEWITNESS: The law…June 15, 2017In “EYEWITNESS” read more