The path to national bankruptcy

La Prensa's take on the political scene

 
847Views 5Comments Posted 01/02/2021

 

Following the example of the Central Government, the local governments of not a few municipalities seem to have gone mad. In Arraiján, mobilization expenses of half a million dollars were allocated; the mayor of San Miguelito allocated thousands of dollars a month to himself for the same expenses; in Colón, the mayor intended to disburse $ 600 thousand in colored lights "for the summer", an act suspended by the General Directorate of Public Procurement, which asked him to reconsider spending, both due to the high consumption of electricity and the pandemic. These people do not understand the scope of what is happening to the economy, devastated by Covid-19. Governments are - to a large extent - responsible for our hardships and, far from renouncing their flawed governance practices, they want to keep them to guarantee themselves the power they need to get rich. For this reason, it is reprehensible - once again - that in the dialogue of the Social Security Fund, the Government controls - with the number of representatives - the decisions that are taken. Precisely, it has been the rulers who have led the institution to its virtual bankruptcy. When will they stop? LA PRENSA, Feb.1.



Comments 5

user
Respectful

Snake claims that Democrats aee fiscally irresponsible. Yet Trumo addwmed $7 trillion to the national debt in four years, a record that Republicans voted for.

23 days ago
user
George Klk

Panama | Many U.S.A. Prediction Base on Facts...Just Pick and Choose || Predictions if Trump clears criminal charges in Congress. - Trump's lawsuits after lawsuits will eventually gain his win and a legal precedent. - Trump's obsession to get re-elected will effect his diminishing memory with more obvious incoherent claims...with more cover ups from the republicans. - Trump will use desperate measures to win lawsuits to rebuild his fragmented legacy. - Trump will continue with vulgar name calling of what he sees as his enemies...[ plenty ]! Predictions for U.S.A. Democrats and Republicans Budget Priority Battles: - Democrats will lower the Covid relief for consecutive periods of the years indicating a... near...nation wide bankruptcy! - International nations will see the U.S. as incapable of setting their finances in order. - U.S. will rely on a heavy returns for monetary aid to foreign nations. - Foreign nations will work with China for better financial deals. United States National Security Incompetency: - National Security will not limit the sales of vital chips to China to control of global markets without effecting the U.S. declining jobs performance. - N.A. does not have control of the 900 U.S. executives working and colluding with China following their need for tremendous cash flow and the gain for the market. Predictions for U.S.A. President Biden Foreign and Domestic Policies: - President Biden will be limited to reversing many of Trump's policies held up by the courts. - Biden will be limited to his...Conflict of Interests....with the corruption of the oil deal with Ukraine. - Biden will eventually be tarnished by Ukraine policies effecting the United State. - Biden will not be able to balance the economy and finances of the U.S. in the event of another global financial set back...a loss of U.S. navy fleet perhaps with China. - Biden will heed the warnings of China, knowing China's strategy has been known to work. - Biden will need to work closely with...Intelligence reports from every level of security risks! - Biden will need to know China's intentions for...Panama in their working alliance strategy! There is of course much, much more and its just...top of the head predictions... China may now just have the goods, and U.S. National Security? Errand boys with backroom storage data!

24 days ago
user
Oh ya

Not to worry it will not be long before the USD crashes. Because from 1971 until now the USD has lost 98%of its purchasing power. The central banks around thecworld are printing money at a rate that will soon make all paper currencies go to there real value of zero. If printing money made things great then Zimbabwe and Argentina and Venezuela would all be great places. The USD has crashed twice before so the 3rd time is not unexpected. Buckle up it will be a eye opener when you wake up and are flat broke no matter how many fake dollars you have

24 days ago
user
George Klk

Panama | President Cortizo Reviewed Department Accountability. Cortizo did not report on his findings of accountability with the...National Assembly. N.A. legislatures make the laws and regulations for each department of government. Facts of deterrents to an efficient government: 1. Government department have forms similar to requisitions to withdraw money for certain functions. Oversight committees or regulatory departments should report to the president of the N.A. President of the N.A. disinterest in the accounting details with just general summaries does not fulfill that functions of their responsibility based on these requisitions. 2. General summary provides mostly half truths with the appearance of functions as a norm. 3. Deforestation of Panama takes away the beauty and brand that is now dubious as a symbol of shameful neglect to the people and the environment that is touted by the canal authority. 4. Panama government is careless because the money is so far short for their list of priorities. 5. Government leaders may be taking large shares of commissions leaving little for the work in progress. 6. Panama may soon have a dictator claiming wonderful works for the people with jobs and benefits in fact, the opposite will occur when...ALL...the vested powers means further impunity and more self serving wealth among his compatriots of the underground vast operations including institutions. 7. Panama president Cortizo already has the automated system of vast generous sums of $monetary$ presidential allowances to reduce his own complaints among advisors and... political colleagues. 8. Executive wealth means time for the leisure activities of fun and future grand projects away from the stress of bringing down the house of corruptions. 9. Wealth means the privilege and associations to garner further serious business investments with the golden touch of business solutions. 10. The poor...regulations decided by political international compromises. - Deforestation - Mining - Fishing - Welfare / Social Security - Illegal land sales... General Facts of general plights of news: 1. Panama strategic trade position should bring tremendous potential, but politically companies like Brazil's Odebrecht ties Panama to contracts of criminal debt protected by the elected officials who themselves are heavily involved and not ready to take the heat... criminal charges! 2. A Panama president, Cortizo is not ready to listen to the slum people and their poor communications and rag stories...not profitable! 3. Losing lawyers who fight for the cause of Panama are proven track record losers! Panama news media only points a general finger in a general direction for an endless road to...nowhere.

24 days ago
user
Snake Pliskin

I understand that democrat in Panama is not the same thing as the dems in USA but it is that mentality that drives them. Throw money at it and it will go away. Never have understood that way of thinking but its what they do. La Prensa wants to bash Trump but then they complain about the same kind of things that democrats do. Keep complaining.....maybe that will help

25 days ago
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