Monday, July 4, 2016
The New Governor of the Central Bank – a safe pair of hands, but that is NOT what we need TODAY!
The oohs and aahs of praise for the President for his selection of Dr Indrajit Coomaraswamy as the new Governor, is sufficient to make me puke, as none of the FOSSILS as I called them in the last blog entry know anything of what is really needed for Sri Lanka for the next 4 years to tide this Government over, and BENEFIT from the ONCE IN A LIFETIME CHANCE on INTERNATIONAL INTEREST RATES.
Put simply, these fossils, cretins more like, don’t have a clue, that what we need is to ensure we are ONLY PAYING at most 3% on US Dollar borrowings in an era when the US Treasury 30 year note is yielding 2.2% and US Treasury 10yr note is yielding 1.4% and FALLING.
This is similar to when I said in this blog for the SL Treasury to lock in the oil price by a forward contract, at US$30 per barrel, but the fossils, or cretins in power just like power, not anything to benefit Sri Lanka, as there is NO ONE batting for SL today! Sadly not even the President.
Of course all those cretins are telling me that I am a cretin because the Sovereign Rating for SL will never permit that low of a yield. My point is that we were on course to renegotiate US$5B at those rates, by locking in and then you threw Mahendran out because of your foolishness!
They are talking about Rs1.6b damn it. He could have saved Rs 1000 Billion just in interest alone annually. (Readers do you realise that 97% of Govt revenue goes to pay interest, when can we repay the principle?)
What imbeciles have we got running this Country? They are so trapped in an Island mentality, that they cannot even think about a meal costing a million rupees, but can still pay Rs50M for a car that costs only Rs500,000 in the US! With fools like this how can this Country ever get over its problems.
This Government came into power partly to clear the shit that the Rajapakses created, one huge element of this was the debt burden of Rs350,0000 per person, that he bestowed on us, to say nothing of the interest on this self same BURDEN.
When we have donkeys running this Country who cannot understand simple arithmetic, and are merely bent on character assassination, with NO foundation, how can we get ahead? Sorry Indrajit, I liked your Rugby in those days when you played for CR, but you are out of your league here in this game today!