Stabroek News

Tweets cannot fill major gaps in US economy

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Dear Editor,

There are gaps in the US economic system that tweets cannot fill.

The gaps are getting bigger and bigger. It is these perception­s that are used to gamify the US Economy. (Wall Street, especially).

The public at large will pay bitterly for these Tweetian experiment­s.

Not even the Fed can stop it. The 2008 gaps that Obama closed with saving the American economy is no longer an option. The Secretary to the Treasury, Hank Paulson (2006 2009) had televised, ‘I am bailing out the banks and I know not why’.

The 2009 collapse was triggered by the massive build up of US Treasury Bills in financial institutio­ns portfolios, similar to today. My 2007 Workshop at Bank of Guyana on Interest Rate Risk Management, made a startling discovery in which the SEC allowed Banks to hide their losses from the eyes of the public, looking the other way. The Financial Stock Prices were overvalued, as their losses did not hit the market valuation until much later. Citi Bank, BOA shares fell below $5 a share, yes buy one and get one free at $7.

The corporate tax reduction was not siphoned into infrastruc­ture developmen­t, except for a Wall, designed to MAGA, yes maaga!

America has lost its capacities through job outsourcin­g.

A new star is shining brighter in the East!

You caan suck cane n blow whistle, in Guyanese language.

My Miami 2017 August paper on the Redevelopm­ent of the Rust Belt, at Bethlehem and Pittsburgh Steel was aimed to MAGA, alongside a US Tax Reform Code that reduces corporate subsidies and invests in Secondary and Community Colleges with technical education, the practicum, real apprentice­ship programmes, not tweets, treats, and lies! Yours faithfully,

Ganga Ramdas and technology

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