If Bernie Madoff could only manage 1% to 1.5% per month. Olint was paying 8% to 10% per month. What does that make local investors?
Well it shows that the local investors into UFO clubs like Cash Plus, Olint and many other feeder clubs promoting anywhere from 8% to 10% a month were either the world’s greatest traders and investors, or the world’s greatest thieves and con men.
Of course when a club is parading as a FOREX trading club it is easy to gain converts.
But a club not moonlighting as a FOREX trading club and promising 10% certainly attracted quite a few investors. To cut a long story short, the investors in the Jamaican UFO clubs took a chance, a risk.
They did not see it fit to invest even a quarter of the amount they were willing to invest in UFOs into Jamaican entrepreneurs who could develop companies that may turn out to be the next Google or Yahoo.
Thus, like any other investment gone bad, they should simply feel better than their U.S counterparts who got duped for a measly 1% to 1.5% per month. I am sure locals would never fall for such measly returns.
But putting a different spin on it, the U.S investor would certainly fall for a modest gain such as 1% because it was not exactly ridiculous. It was not as if Madoff was promising 8% to 10% per month. Now that would have certainly raised some eyebrows. But not here in Jamaica.
So, who is really the biggest trader or conman? Our own local Bernie Madoffs, or Bernie Madoff himself?
What is amazing in the USA is that when the rich lose their money, no matter if it is a private company where a CEO earns over US$10 million per year, or a Hedge Fund and or Ponzi Scheme, it is taxpayers’ money that bails them out if the U.S Government decides to do a bailout.
Yes, the working class American. What many would consider the poor. Actually bailing out the wealthy class.
Now some would argue, that the loss of jobs and the income those jobs generate within the economy far outweighs the bailout. But what if the bailout fails?
Who bails out the working class when they have no job to pay their bills?
Does that make the USA a master slave society?
The Jamaican Real Estate Market
When will the Jamaican real estate market bubble burst?
Homes new and old are being sold at almost U.S market prices before the U.S real estate crashed. All this taking place in a country where the basic infrastructure is third world.
There does not seem to be any town planning, and very little governance. The law remains still not a shackle, while the nation plunges into decadence with their only economic saviors -the UFOs- having fizzled.
The Jamaica Work Scene & Used Cars
Jamaica is a very interesting place. A huge importer of other nations’ hand-me-down cars, which are paraded up and down the streets as if they were straight from the factory floor or showroom. Yet many scoff at how Americans purchase used furniture.
Jobs are hard to come by. And when they are attained it could be considered next to slavery the harsh treatment given out to new employees.
Who protects the working class when their rights on or off the job are violated by savages, filled with envy, hate and only seeking power even if it means for the savages going to the balm yard?
Old Men & Old Women
When you are a babe, you are a babe. When you are in your prime, you are in your prime. The young, 18-45 years old (PS: The latter applies to men only).
When you are really old, quite possibly approaching 55 years old, or you are well on your way to senior citizenship, and thus well into or approaching your retirement years, chances are you have been at the helm at some time as a senior or junior level manager.
Thus if you can continue to make a significant difference in the position of power you hold. Then stick around.
If on the other hand you have not made much of a difference within the last 15 years. It is time to step aside and allow qualified young blood to take charge or be brushed aside.
Of course there cannot be any room or excuses for youthful exuberance.
Do not get me wrong. Give me a qualified old man or old woman over a qualified but incompetent, lazy, lack of talent, lack of vision young man or woman any day. The latter by night is acceptable.