Topic: economy
EDITORIAL-Make the beds, company’s coming
Tourism officials are predicting another record-breaking year for stay-over visitors in the Cayman Islands. That is something to applaud, even if you do not happen to lead sightseeing tours, let out rooms or serve up gourmet fare.
The innovation destroyers
Because the SEC has made it so costly, time consuming, and restrictive for entrepreneurs to issue stock, they, of course, try to find other ways to raise capital.
EDITORIAL – Royal Gazette: When a free press attacks free speech
On the global stage, where Bermuda – and Cayman – play important roles as international financial centers, there are no closed doors, there are no walls, and there are no borders.
Rahn: Crony capitalism against the real thing
The opponents of capitalism have succeeded in clouding the minds of many, by failing to distinguish between free-market capitalism and crony capitalism.
Morici: Bricks-and-mortar stores deserve heat from Amazon
Each wave shares three common themes — the newcomers buy and deliver products more efficiently, address changes in how Americans work and live, and exploit the hidebound management of the established retailers and municipal governments that host them.
EDITORIAL-Bermuda: An island in troubled waters
We do not hope, but we fear, that the results of Bermuda’s election may be the final mis-steerage that drives the country’s economy off the proverbial cliff … or into a coral reef.
Rahn: When legal protections begin to disappear
Real rule of law only exists if the laws are few enough in number, clearly written as to be readily understood by those subject to them, and equally enforced.
EDITORIAL — Mother, keep your purse shut tight!
Living within one’s means should not be a radical concept – for individuals, households or nations. Rather than listening to bureaucrats looking for second helpings, ministers should familiarize themselves with the benefits of fiscal fitness.
United Kingdom is poised to fall off the wagon of fiscal sobriety
Daniel J. Mitchell
One of my favorite charts shows how nations achieve great results when they engage in multi-year periods of spending restraint. The most...
Will: Fixing the ‘rotting carcass’ tax code
George F. Will
WASHINGTON – Cynics are said to be people who are prematurely disappointed about the future. Such dyspepsia is encouraged by watching Republicans...
EDITORIAL — Testing our commitment to quality education
Recently released testing results from the Cayman Islands Further Education Centre are troubling enough for us to sound an alarm that should alert –...
Rahn: Economic forecasts appear to be fake, sloppy or unknowable
Richard W. Rahn
The Congressional Budget Office (CBO) projected that 21 million people would be enrolled in the Obamacare insurance exchanges by 2016, back when...
EDITORIAL – ‘Achievement gap’: Cayman’s economics versus education
From the mid-1960s to today, it could be said that the Cayman Islands deserves very high marks in “economics” … and very poor marks in “education.”
EDITORIAL – A Christmas toast to Cayman’s strong economy
The Cayman Islands has experienced five consecutive years of economic growth. That’s cause for early Christmas cheer (no mug of eggnog required).
Economic growth continues for 5th consecutive year
The Cayman Islands hit a milestone of five consecutive years of growth, government economists announced Friday, with the gross domestic product reaching $2.8 billion in 2015.
EDITORIAL – Cayman Islands: The view from the sunny side
There are far, far more good things going on in Cayman than bad. Our society is on a solid footing. Our economy is strong. Our future is bright.
The reality of trying to hire ‘100 percent’ Caymanian
On more than one occasion we are told they should get the job because they are entitled to it as a Caymanian, and feel they need to add nothing further other than “anyone could do this job.”
Cayman’s economy grew 2.4% in Q1
Led by construction, real estate and financial services, Cayman’s economy grew in the first quarter of this year, according to a report released recently by the government Economics and Statistics Office.
‘Make Caymanians great again’
We must first create and rebuild the reputation we once had and enjoyed, while ensuring we have a sustainable environment for our own people before considering doing anything else.
Connolly critiques former gov’t colleagues
Former government backbencher Winston Connolly was among the most vocal critics of the Progressive administration’s final budget, calling out his former colleagues for attempting to claim credit for economic successes which were not their own.
Minister hails tourist spending increase
Growing tourist numbers added almost US$90 million in direct spending to the economy between 2013 and 2015, with the contribution split almost evenly between cruise and stay-over visitors.
Report: Deflation continues for fifth straight quarter
The consumer price index continued to fall for the first quarter of 2016, according to the most recent economic measures from the Economics and Statistics Office.
With lower oil prices, Cayman imports more gas, cars
Cayman imported more cars and more gasoline to fuel them in 2015 amid sharp declines in oil prices, according to a new report from the Economics and Statistics Office.
Bloomberg: UK can’t afford to quit EU
If it votes to leave the European Union in next month’s referendum, Britain will bear a substantial and lasting economic cost: That’s the conclusion of several authoritative new studies.
McArdle: Death by a million rules
Each hour of a firm’s time that is sucked up by compliance is an hour that is not spent growing the firm, improving the product, better serving the customer.
Rahn: Fight or die
Are the several dozen so-called offshore financial centers enlightened enough to mount a vigorous defense against the know-nothing statists or will they apologize for their mere existence?
Bershidsky: EU could live without UK
There are two sides to any divorce, and the relatively passive partner – in this case the EU – must also consider the impact of losing Britain.
EDITORIAL – The flight of the millionaires
Last year, 10,000 millionaires fled France. Paris alone lost 7,000. But what does that have to do with the Cayman Islands? Plenty.
EDITORIAL – Gov’t slanders Cayman’s professionals
Faced with a set of sobering facts they discovered themselves, Cayman Islands government officials resorted to Plan A: Deflect, spin and blame the media.
Gilbert: Bond yields predict ‘new mediocre’ is here to stay
“In price is knowledge” was the dictum drummed into me by an editor when I first started writing about finance.
Paul: Investors’ love affair with London property
Britain’s economy may be growing at a faster rate than its European counterparts, but there are two statistics that ought to give concern: London’s stratospheric real estate prices and the country’s current account deficit.
Property perspective: Regional report highlights economic growth
The recently released IRR Viewpoint Caribbean Market Update 2016 Annual Report highlights some interesting discussion points when it comes to the state of Caribbean economies, especially in relation to real estate.
Bershidsky: The risky mix of politics and offshore finance
What purpose do the Panama Papers investigations really serve?
EDITORIAL – The Panama Papers: Dodging the bullet, absorbing the shrapnel
As the saying goes, you are judged by the company you keep — and, in the case of public figures being named in “The Panama Papers” exposé, by the companies you tried to hide.
Mitchell: International tax police find new culprit: law firms
The narrative being advanced by international media outlets suggesting that law firms like Mossack Fonseca are breaking the law, or helping others do the same, is belied by the fact that none of them have actually been charged with any crime.
Coats: How much should a country work?
If an economy is not growing, is that necessarily a problem? The short answer is no.
Balding: Investors in denial about China’s slump
As you’ve no doubt noticed, companies and investors around the world are feeling the pain of China’s economic slowdown.
Maritime Week aims to give boost to local economy
Organizers of the inaugural Cayman Maritime Week say they anticipate it will have positive long-term effects on the Cayman Islands economy.
EDITORIAL – Fast forward: Cayman’s past and future
According to our flag, the Cayman Islands was founded “upon the seas.” Cayman’s modern economy, on the other hand, was founded upon something else — speed.
Winkler: It’s time to stop bashing Wall Street
There’s a perverse competition among some presidential candidates: Who can most loudly blame Wall Street for the problems of Main Street. They’ve got it wrong.
Ritholtz: Do falling profits point to a recession?
One of the big concerns for investors is the health of corporate profits, which have declined in the three of the past four quarters.
EDITORIAL – What Bermuda’s immigration debate means for Cayman
The Bermuda government’s announced intention to pursue dramatic immigration reforms has plunged our North Atlantic cousin into a state of unrest — somewhere between existential conversation and outright crisis.
Data: Work permits up, unemployment down
A decade’s worth of data from the Immigration Department and the government statistics office examined by the Cayman Compass shows a clear link between the number of foreign workers on the islands and the unemployment rate.
Fox: Why some cities get all the good jobs
Over the past few decades, the U.S. job market has been pulling apart. Lots of new high- and low-wage jobs have been created, while middle-wage ones have become scarcer. Much of this divergence has been along geographical lines.
EDITORIAL – Minimum wage: The very least Cayman can do
The new minimum wage of $6 per hour takes effect March 1. We don’t anticipate much cheering in the streets — and we certainly don’t expect any broad economic benefits over the long run.
EDITORIAL – Being self-reliant: Cayman’s economy in the ‘new normal’
The wider world "out there" is fraught with economic uncertainty ... All the more reason for Cayman Islands leaders to focus their attention on our own solitary vessel.
One family’s battle with foreclosure
Emily Seymour, 67, surveys the scene from the front porch of the home she has owned for 30 years.
EDITORIAL – The Chamber’s changing of the guard
Let us extend a welcoming hand to new Chamber of Commerce President Paul Pearson, and offer a congratulatory pat on the back to outgoing Chamber President Barry Bodden for a job well done.
Grand Cayman gas prices lowest since 2010
Retail fuel prices on Grand Cayman have hit their lowest point in almost six years, with a gallon of regular, unleaded self-serve gasoline costing $3.93 on average as of Tuesday.
Forum: Region needs cash-transfer rules
A forum with government and private sector representatives from around the region last week called for a Caribbean-wide effort to deal with U.S. banks “de-risking” and pulling out of doing business with cash transfer companies and other financial institutions around the region.
Is Cayman too shy?
Distasteful as it is to anticipate yet another journalistic hatchet job on the Cayman Islands, the prospect nevertheless becomes a compelling watch for Cayman residents.
Cayman’s ‘underclass’
I was an attendee last week at the excellent Cayman Economic Outlook conference, the theme of which was “inequality.” While not typically one to...
EDITORIAL – Ready2Work: Government’s latest ‘freebie’
We give the government credit for creativity, but we are skeptical that the newly announced “Ready2Work KY” program will succeed in addressing Caymanian unemployment.
Premier...
Cayman’s economic ‘underclass’ topic of conference panel
Panelists at the Cayman Economic Outlook conference Tuesday agreed that there is an “underclass” developing in the territory and that more needs to be...
Will: China’s flawed ascent
George Will
WASHINGTON – China produces an astonishing number of astonishing numbers, including this: In the 20th century, America made automobiles mass-consumption items, requiring prodigious...
Minimum wage coming in six weeks
Government will introduce a $6-an-hour minimum wage on March 1, Premier Alden McLaughlin announced at the Cayman Economic Outlook conference at The Ritz-Carlton, Grand...
Government to pay wages in back-to-work project
Government will pay up to the first six months’ salary for new workers taken on by private businesses in a new back-to-work scheme for...
Prices to rise on some fruits, vegetables as supplies stall
Foster’s Food Fair IGA is warning customers that produce may be in short supply – and pricier than usual – as weather patterns disrupt...
