Successive Jamaican governments seem hell-bent on following the same paths that have caused the people of this great nation continuous economic damnation.

The central bank has been trying all types of fiddling with monetary policy for the last 30 years with only inflation and devaluation of the Jamaican currency to show for it. The question to Prime Minister Golding and the governor of the Bank of Jamaica is: have they now perfected the art of engaging in group-think on the economy?

Fresh thinking and bold ideas is what people voted for in the last election. We are tired of doing things the same stupid way and getting the same painful result - higher cost of living, poverty, crime and corruption. If it has to get worse before it gets better, let it be so rather than remaining in an eternal holding pattern of fecklessness.

This is the issue: Every quarter for the last 20 years the few wealthy persons by Jamaican standards have been holding this island state to ransom in order to live the life they wish at the expense of resourceful and hard-working Jamaicans. When interest rates are 'lowish' they prey on the value of the Jamaican dollar.

Sucked in

As soon as they have fattened themselves enough they give the government a breather to help mitigate any tough action that might be taken and, as usual, a gullible and hungry government gets sucked in. The cycle begins all over again with interest rising and the dollar slides with a long list of casualties.

The recommendation is that Golding needs to do something different and fast - like pegging the Jamaican dollar to the US or the Euro. Generate new thoughts and actions by putting financial experts and academic minds to work. Where is the innovative leadership and communication, Mr Golding and friends?

I am, etc.,

GARNETT WAITE

garnett.waite@gmail.com

Via Go-Jamaica