B-Man Posted March 22, 2016 Share Posted March 22, 2016 Welcome to the Cuban economy Unfortunate (or fitting) photo-ops aside (though they should be enjoyed briefly), how about a little real talk on the state of Cuba’s economy? A few months ago, a Vox reporter visited Cuba. Their findings were similar to exposés of most statist run countries. Highly skilled, well educated individuals like doctors, engineers, and nurses forsake their professions to work in restaurants, drive cabs, and participate in various other “illicit” employment that pays better. Though economic conditions have improved ever so slightly since Raul (Fidel’s brother) has been in charge, serious investors are hesitant to put skin in Cuba’s game: {snip} Harvard Business Review reduces Cuba’s economic woes to three main issues: Lack of capital investment. Fixed capital investment in Cuba represents just 10% of GDP, which is half the regional average. This likely won’t change until the embargo is lifted, as that would facilitate the arrival of significant new foreign capital. Cuba currently requires billions of dollars in investment in communication infrastructure, an update to its dilapidated transportation network, and significant capital inflows into key productive sectors. Stalled state economy. Cuba’s large and inefficient public sector severely constrains the country’s ability to expand output. Lacking a true price mechanism to drive resource allocation, many state-run enterprises are unprofitable and kept afloat with implicit subsidies. While the Cuban government has made an effort to gradually shift workers out of the public sector (it has closed 24 state-owned enterprises for failing to meet output targets), only 25% of the Cuban workforce is currently employed in the private sector. Currency confusion. Cuba desperately needs to do away with its dual currency system. It uses two currencies, the convertible Peso (CUC) valued on par with the dollar and fully tradeable, and the Cuban Peso (CUP) valued at a rate of 24:1 with the dollar, which creates severe constraints for the development of Cuba’s export sector. While calculations would suggest the convertible peso is over valued, Cuban firms will need to see considerable devaluation to gain greater competitiveness. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 22, 2016 Share Posted March 22, 2016 Now Barry's doing the wave! All hail fearless leader! Link to comment Share on other sites More sharing options...
keepthefaith Posted March 22, 2016 Share Posted March 22, 2016 Now Barry's doing the wave! All hail fearless leader! Where's the next stop for Airforce 1, Sweet 16 weekend? Link to comment Share on other sites More sharing options...
Chef Jim Posted March 22, 2016 Share Posted March 22, 2016 Where's the next stop for Airforce 1, Sweet 16 weekend? Yup. He's going to help gator decorate the gym. Link to comment Share on other sites More sharing options...
Tiberius Posted March 22, 2016 Author Share Posted March 22, 2016 Ending trade with countries that are involved in human rights violations is different for letting countries that participate in human rights violations from joining the club. Easier to negotiate with those wanting to join the club than kicking those out that are already in. That's some crazy logic I know. Have I pointed out recently how much you suck at this? And with regard to those we do trade with that violate the human rights of their citizens should also be negotiated with on some level with regard to trade. Yes, because NOW we have a Democratic President and you can throw stones now and feel good. That's all Link to comment Share on other sites More sharing options...
Dante Posted March 22, 2016 Share Posted March 22, 2016 Wow he looks so at home there posing with a loser like Che. Barrys kind of plain, average dopey look blends right in with the bland architecture in Cuba http://www.breitbart.com/big-government/2016/03/21/obama-poses-in-front-of-che-guevara-image-in-cubas-revolution-square/ STFU you ahole our foreign policy on Cuba has been 50+ years of failure just like your mothers attempt to potty train you. A failure for them as they are still a backward , 3rd world shitehole. Fidel Castro to US: you owe us millions http://news.yahoo.com/fidel-castro-us-owe-us-millions-133858731.html Well if we own him millions I think he owes us billions https://www.bostonglobe.com/ideas/2014/04/18/cuba-you-owe-billion/jHAufRfQJ9Bx24TuzQyBNO/story.html "What’s often forgotten, though, is that the embargo was actually triggered by something concrete: an enormous pile of American assets that Castro seized in the process of nationalizing the Cuban economy. Some of these assets were the vacation homes and bank accounts of wealthy individuals. But the lion’s share of the confiscated property—originally valued at $1.8 billion, which at 6 percent simple interest translates to nearly $7 billion today—was sugar factories, mines, oil refineries, and other business operations belonging to American corporations, among them the Coca-Cola Co., Exxon, and the First National Bank of Boston. A 2009 article in the Inter-American Law Review described Castro’s nationalization of US assets as the “largest uncompensated taking of American property by a foreign government in history.” Link to comment Share on other sites More sharing options...
frostbitmic Posted March 23, 2016 Share Posted March 23, 2016 It's not his fault. The previous administration left the pitchers mound in such poor condition That sounds like a Rex Ryan excuse. Link to comment Share on other sites More sharing options...
DC Tom Posted March 23, 2016 Share Posted March 23, 2016 Wow he looks so at home there posing with a loser like Che. Barrys kind of plain, average dopey look blends right in with the bland architecture in Cuba http://www.breitbart.com/big-government/2016/03/21/obama-poses-in-front-of-che-guevara-image-in-cubas-revolution-square/ A failure for them as they are still a backward , 3rd world shitehole. Well if we own him millions I think he owes us billions https://www.bostonglobe.com/ideas/2014/04/18/cuba-you-owe-billion/jHAufRfQJ9Bx24TuzQyBNO/story.html "What’s often forgotten, though, is that the embargo was actually triggered by something concrete: an enormous pile of American assets that Castro seized in the process of nationalizing the Cuban economy. Some of these assets were the vacation homes and bank accounts of wealthy individuals. But the lion’s share of the confiscated property—originally valued at $1.8 billion, which at 6 percent simple interest translates to nearly $7 billion today—was sugar factories, mines, oil refineries, and other business operations belonging to American corporations, among them the Coca-Cola Co., Exxon, and the First National Bank of Boston. A 2009 article in the Inter-American Law Review described Castro’s nationalization of US assets as the “largest uncompensated taking of American property by a foreign government in history.” "Now that we're friends again, you have to give us all the birthday presents we never got from you when we weren't friends!" Just kind-of makes you want to break off ties with them again, just so you don't have to listen to them. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 23, 2016 Share Posted March 23, 2016 Yes, because NOW we have a Democratic President and you can throw stones now and feel good. That's all No you dipshit. It's because NOW we have a black President. Get it right. Link to comment Share on other sites More sharing options...
Wacka Posted March 23, 2016 Share Posted March 23, 2016 Obama did the wave and People died. Link to comment Share on other sites More sharing options...
Nanker Posted March 23, 2016 Share Posted March 23, 2016 Wow he looks so at home there posing with a loser like Che. Barrys kind of plain, average dopey look blends right in with the bland architecture in Cuba http://www.breitbart.com/big-government/2016/03/21/obama-poses-in-front-of-che-guevara-image-in-cubas-revolution-square/ A failure for them as they are still a backward , 3rd world shitehole. Well if we own him millions I think he owes us billions https://www.bostonglobe.com/ideas/2014/04/18/cuba-you-owe-billion/jHAufRfQJ9Bx24TuzQyBNO/story.html "What’s often forgotten, though, is that the embargo was actually triggered by something concrete: an enormous pile of American assets that Castro seized in the process of nationalizing the Cuban economy. Some of these assets were the vacation homes and bank accounts of wealthy individuals. But the lion’s share of the confiscated property—originally valued at $1.8 billion, which at 6 percent simple interest translates to nearly $7 billion today—was sugar factories, mines, oil refineries, and other business operations belonging to American corporations, among them the Coca-Cola Co., Exxon, and the First National Bank of Boston. A 2009 article in the Inter-American Law Review described Castro’s nationalization of US assets as the “largest uncompensated taking of American property by a foreign government in history.” And don't forget Simon Roth's lost millions. Link to comment Share on other sites More sharing options...
DC Tom Posted March 23, 2016 Share Posted March 23, 2016 And don't forget Simon Roth's lost millions. Simon Roth? Really? Link to comment Share on other sites More sharing options...
B-Man Posted March 23, 2016 Share Posted March 23, 2016 Link to comment Share on other sites More sharing options...
Tiberius Posted March 23, 2016 Author Share Posted March 23, 2016 You guys complaining about this act as if economic freedoms don't matter. Improving trade IS empowering regular Cubans. Free markets open the door to prosperity and economic justice. Obama seems to know more about capitalism than you whiners Link to comment Share on other sites More sharing options...
keepthefaith Posted March 23, 2016 Share Posted March 23, 2016 You guys complaining about this act as if economic freedoms don't matter. Improving trade IS empowering regular Cubans. Free markets open the door to prosperity and economic justice. Obama seems to know more about capitalism than you whiners Except that Cubans cannot readily start a business or buy imported goods without their government very stubbornly approving. Did Obama happen to throw out the first pitch yesterday? Anyone have film of that? Just wondering if he's improved his delivery. Link to comment Share on other sites More sharing options...
Tiberius Posted March 23, 2016 Author Share Posted March 23, 2016 Except that Cubans cannot readily start a business or buy imported goods without their government very stubbornly approving. Did Obama happen to throw out the first pitch yesterday? Anyone have film of that? Just wondering if he's improved his delivery. Oh sure, so they are opening trade and then not allow Cubans to do anything with trade. Ya right What really began the end of slavery in the South was the expansion of trade and transportation with the free north. Railroads, canals and steamboats all opened up the region and slavery was on the defensive. Hopefully the same thing will happen in Cuba Link to comment Share on other sites More sharing options...
Nanker Posted March 23, 2016 Share Posted March 23, 2016 Simon Roth? Really? :wallbash: Hyman Roth :wallbash: Link to comment Share on other sites More sharing options...
Deranged Rhino Posted March 23, 2016 Share Posted March 23, 2016 What really began the end of slavery in the South was the expansion of trade and transportation with the free north. False. Link to comment Share on other sites More sharing options...
Tiberius Posted March 23, 2016 Author Share Posted March 23, 2016 False. Nice argument Seriously, why do you think its wrong? Link to comment Share on other sites More sharing options...
Deranged Rhino Posted March 23, 2016 Share Posted March 23, 2016 Seriously, why do you think its wrong? Because it's historically inaccurate. Link to comment Share on other sites More sharing options...
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