Wednesday, July 24, 2024

Wolfe’s Woofer: Economics

Share

“We already missed two hours of fishing,” Vernon said. “I don’t think we ought to wait any longer for Mario and Linsford.”
“Yeah,” Juan said, “It’s already eight o’clock and we ain’t gonna catch nothing at this time of the morning.”
“Let’s give them another hour or so,” I said. “The bank doesn’t even open until eight.”
The Nosenada Social Club was meeting at Señora Lupe’s taco stand for our monthly fishing tournament. The one who catches the most fish for the day gets his drinks paid for in the bar that night by the other five members.
“Here they come,” Moses said.
“Somebody buy us a breakfast burrito and coffee,” Mario said, as he and Lynsford took a seat at the picnic table. “We didn’t get the loan for a new boat.”
Linsford said, “The banker said the Belize economy is down right now and they can’t do new loans.”
“This is the same bank just lent five million dollars to build that little resort down south,” Mario said. “The rich people can borrow money but us poor people can’t.”
“The banks want to make sure they get paid back for a loan,” I told him.
“Well, it ain’t right. It should be just the opposite.”
“How would that work?” I asked.
“Right now, rich people can get all the credit they want and poor people can’t. It should be that the rich people pay cash and the poor people get credit.”
I said, “Mario, a banker that gave credit only to poor people would go broke very quickly.”
“So what? Then he could buy on credit, too.”

Read more

 

Please help support Local Journalism in Belize

For the first time in the history of the island's community newspaper, The San Pedro Sun is appealing to their thousands of readers to help support the paper during the COVID-19 pandemic. Since 1991 we have tirelessly provided vital local and national news. Now, more than ever, our community depends on us for trustworthy reporting, but our hard work comes with a cost. We need your support to keep delivering the news you rely on each and every day. Every reader contribution, however big or small, is so valuable. Please support us by making a contribution.

Local News