Hashtag: #LarryBurchallColumns
Opinion: What Does Cuba Mean For Bermuda?
[Opinion column written by Larry Burchall] “Events, dear boy, events.” Reputedly, that was UK ex-Prime Minister Harold MacMillan’s response when asked what he feared most. For Bermuda, two events have occurred. On 2nd December 2014, we learned that Bermuda would host the 2017 America’s Cup races. Fifteen days later, Bermuda learned that US... Read more of this article
Opinion: Where Exactly Does Bermuda Stand?
[Opinion column written by Larry Burchall] Where, exactly, does Bermuda stand? What needs to happen between now and July 2020? Lots of numbers get tossed around, but, as with any arithmetic problem, there is really only one answer. Here, exactly, is where Bermuda’s public debt stands, on this day, as you read this. Basic Facts The current total for... Read more of this article
Opinion: “2014 Was Another Year Of Change”
[Opinion column written by Larry Burchall] Like the thousands of years before, 2014 was another year of change. A ‘palace coup’ took out a Premier; changes in the way news is captured and disseminated took out the 50 year-old Bermuda Sun and eliminated VSB from television; my great-niece Sophie started ‘big school’. After 71 months of continuing... Read more of this article
Opinion: Christmas Is Ever Fresh, Always New
[Opinion column written by Larry Burchall] Over time, Christmas does not and has not changed much. Every year, there’s the new excitement of young children just beginning to grasp the magic and wonder of it all. Every year, there’s the singing of centuries old traditional ‘Christmas carols’. This annual celebration of the birth of Christ is... Read more of this article
Opinion Column: “Two Nuggets & Three Issues”
[Opinion column written by Larry Burchall] If, as I wrote last week, Bermuda’s recession ends with GDP rising as much as 15% – 16%, and Bermuda gets back to providing 38,000 jobs with every currently unemployed Bermudian re-absorbed into the economy; then Bermuda will have resolved the first of three issues currently bedevilling Bermuda’s... Read more of this article
Opinion: Burchall On America’s Cup & Finances
[Opinion column written by Larry Burchall] With the America’s Cup coming, works for a ‘new’ airport, new hotel construction at Ariel Sands, Pink Beach, Morgan’s Point and maybe one other location, with the probability of casinos and gaming coming on stream; it looks as if Bermuda’s flagging economy is about to get a boost. With something between... Read more of this article
Opinion: Bermuda & ‘Austerity Spending Mode’
[Opinion column written by Larry Burchall] For some, Austerity spending is an economic profanity. People who oppose the idea of cutbacks in Government spending say that Austerity spending should never happen. They say that in an economic downturn, Governments should always increase spending. Set out in thousands of textbooks, classic economic theory... Read more of this article
Opinion: Looking For Financial Assistance?
[Opinion column written by Larry Burchall] Looking for Financial Assistance? Many people believe that if things get really tough, they will be able to rely on Government’s Financial Assistance program for help. That’s true, but only up to the point where Government can still put dollars into Financial Assistance funding. Government’s audited accounts... Read more of this article
Larry Burchall: Reflection On War And Wars
[Written by Larry Burchall] In 1914, the monarchies of Europe stumbled into a war. 100 years ago today, the Great War of 1914 – 1918 had been going on for just over three months. By November 1914, thousands of Indian soldiers had been imported from what was then the Indian Empire but that we know today as India, Pakistan, Sri Lanka, and Bangladesh. In... Read more of this article
Opinion: Bermuda’s Financial Double-Cross
[Opinion column written by Larry Burchall] As simply as possible, but still honestly and factually, here is the full story behind Government’s day-to-day money management. First – Government Revenue – The Finance Minister hopes to take in $901.7m from all sources in FY 2014/15. That’s in the Budget Statement. Second – Priority Payments... Read more of this article
Burchall: 3 Facts Underpinning The Economy
[Opinion column written by Larry Burchall] Fay and Gonzalo really knocked us about, but, in typical Bermuda fashion, full recovery from that big double strike is well in hand. Like those hurricane winds, three facts drive Bermuda’s six year recession and underpin Bermuda’s economic problem. Driver and new fact One– Nanci, our evil spider. The... Read more of this article
Burchall: How To “Feed” Debt Service Costs
[Opinion column written by Larry Burchall] Last week I ended: “Now and into the future, the absolute and unbreakable new rule – new since 2010 – is: “First! Feed Nanci!” From Financial Assistance to Civil Service pay, everything else is now in second place – or lower. [Nanci = Non Negotiable Costs = Debt Service Costs = Interest... Read more of this article
