Good point, Ms. Jackson. The Central bank cannot be blamed due to its position in the economy. The problem is coming from the government itself. It seems all members in parliament are there for their personal and party intere ... read full comment
Good point, Ms. Jackson. The Central bank cannot be blamed due to its position in the economy. The problem is coming from the government itself. It seems all members in parliament are there for their personal and party interest and they also the needed education to articulate issues such the role interest rate plays in economic development in a nation. The central plays advisory role to the government of the day on monetary policies, while the government determines the fiscal policies; the collaboration these is very important, the government does not pay attention. The leadership of Ghana needs to support small scale businesses by working with the central bank on the interest rate.
OBENG RAGO 11 years ago
CAPITALIST SOCIALISTS OR SOCIALIST CAPITALIST ARE THESE NDC GOVERNMENT FUNCTIONARIES AND POLITICIANS OF MODERN GHANA CELEBRATING ITS BIRTHDAY!
This is the funniest thing I will ever read from a staunch Communista as this w ... read full comment
CAPITALIST SOCIALISTS OR SOCIALIST CAPITALIST ARE THESE NDC GOVERNMENT FUNCTIONARIES AND POLITICIANS OF MODERN GHANA CELEBRATING ITS BIRTHDAY!
This is the funniest thing I will ever read from a staunch Communista as this writer, so-called Margaret Jackson. Has he just woken up from a long sleep like the old Rip Van Winkle? When did s/he smell the coffee and realised Communism is dead and buried under the Berlin Wall? We all know this man/woman works for Totobi Quakyi and writing under a pseudonym; a dye in the wool staunch Communista by name Karl Marx. It’s even not a problem who writes these baloney, but drip by drip these people will know the truth before they all die and leave a poor country in peace.
Just as I never thought the Berlin Wall will ever tumble down, so do I read such articles and get shocked about all these statements coming from renowned left wing revolutionaries who used to raise the red anti-imperialist flag across the parapet. Nkrumaists now preaching capitalism in Ghana. Now all of them have come to believe in Capitalism because they are the neo-capitalists building Cities and living in gated streets: From their communist days to capitalist frontiers and paying poor people like Margaret Jackson to write for them - the neo capitalists of Tsatsu Tsikata, the three greedy Ahwois, Warehouse Kingpin Ato Dadzie, Ibrahim Mahama and PV Obeng all formerly anti-capitalists but now the richest capitalists in Ghana...what a laugh!! The same anti-capitalists who killed so many set up investigation Committees to probe capitalists in Ghana...Their communist manifesto got lost when Roman Abramovich and Usmanov bolted away from the Russian Empire with a huge loot to live in their much derided Western Capitalism
In fact, the reason most socialists in Ghana link Dr J B Danquah to C I A is due to the old man's criticism of Nkrumaism and his bogus neo-colonialism and imperialism nonsense, the empty chants of socialism and all the inconsequential nonsense that has pervaded our political spectrum since 1951 when Ghana assumed its own self-government. The socialists of Ghana are incidentally the biggest state crooks who enrich themselves from political power for all the 48 years they have taking turns to rule Ghana!
Shame on you, Margaret Jackson. You are a disgraceful apparatchik!
The unapologetic socialist revolutionaries of Ghana politics always find a way to place their lies conveniently in the mass media and Margaret Jackson is the master spinner - as he states in his embarrassing article that 2003 (when NPP were in power) was the year of highest recorded interest rate. Indeed, NPP and DOMO has caused all the problems of Ghana…
No problem...you can lie and lie and lie but one day you will face the truth as this man, Karl Marx, who works for Totobi Quakyi, has done here.
But who takes these decisions now? The last Governor of Bank of Ghana was his mate in Mfantsipim and now the country's Vice President, Kwesi Amissah Arthur. A telephone call from him or Totobi or Ato Ahwoi to the Governor will cut the interest rate to 65% or whatever level they like, just as they set the rate of Inflation based on their preferred lowest unit of account.
But for this writer to call for Private Enterprise on this very Independence Day is something I will quietly embrace; for as our old age adage says “SANKOFA, wonkyir”!
The economic history of Ghana is there for all to see: Kwame Nkrumah hated Private Enterprise so much he actually acted against even farmers of Ghana. He established State Farms and Marketing Boards and Workers Brigade and State factories and State Mines and State Industries and State Hotels and State brothels. He did not only establish all the State Enterprises but advocated for the advancement of Socialism at par with Cuba's. He hated Capitalism and will refer to his own bitter experiences in America, which he saw as a leviathan beast. It was anti-capitalism or anti-private enterprise that broke the back of Ghana's economy and led to our indebtedness.
When Dr Busia's government tried to restore the involvement of Private Enterprise with R a Quarshie doing everything possible to revive the sedated private engine of growth, their talkative socialists derided them and actually called the Progress Party government lackeys of imperialism, creating a destabilising environment for Acheampong's coup. The first policy of Acheampong was his "Yenntua Kaw", which set Ghana against the IMF.
I remember this very writer, Karl Marx or Hamilton preaching and preaching about the virtues of Communism during Acheampong's rule as he shouted like an apostate: "Workers of the world, Unite; you have nothing to lose but your chains..."
Today he advocates for private involvement in business; the same guy and his master Totobi Quakyi who hated the West and its Capitalism have gone full circle to believe in Free Enterprise (But why not as they are now serious oligopolists in Ghana)
But is it not the same revolutionaries who chased private entrepreneurs from Makola Market and destroyed their wares and stalls because it's face of capitalism? is it not the same revolutionaries still ruling us who drove the Lebanese, Syrians and every private businessman into indebtedness and exile for their private pursuit of businesses? Is it not the same NDC government in power who hate Asantes and Kwahus so much for engaging in private businesses? Is it not the same loud mouthed socialists who incarcerated rich people for doing their own businesses?
Does the writer think by lowering interest rates alone, private enterprise will flourish? What about the praise Tekper and Fiifi Kwetey and their Master Ato Ahwoi got for establishing the much dreaded VAT Department that actually clobber business people with more taxes?
Who does private business without protection of the State? How do you do business in Ghana with all the astronomic Customs and Excise Duties, Taxation upon Taxation, the obnoxious Red Tape and business rates and property rates we have to pay through your nose? What type of private businesses are they talking about? The one that takes government business to private hands like import of state books and medicine and sale of oil? How can people who prosecuted those that start their business from scratch like Apino Soap know private capitalism? Has anyone suffered more than Appiah Menka and Ameen Sangari under this nebulous NDC Government for running their own Private Enterprise? Shame on you, Margaret Jackson or whoever you are...You can write and write and write all your lies from Totobi Quakyi's office and hob nob with your new capitalists in this socialist inspired NDC but the truth is like a cork': It surfaces like the fishermen who come from the bottom of the sea singing...
" puti si e putisi...eeie putisi;
se ehom no do a; annhom no do a otaw nsu enyiwa aaaeei aye"!!!
Good morning fellow anti-socialists...Be Bold and Wise
Paul Ayisu - U.S.A 11 years ago
Good point, Ms. Jackson. The Central bank cannot be blamed due to its position in the economy. The problem is coming from the government itself. It seems all members in parliament are there for their personal and party intere ... read full comment
Good point, Ms. Jackson. The Central bank cannot be blamed due to its position in the economy. The problem is coming from the government itself. It seems all members in parliament are there for their personal and party interest and they also lack the needed education to articulate issues such the role interest rate plays in economic development in a nation. The central plays advisory role to the government of the day on monetary policies, while the government determines the fiscal policies; the collaboration these is very important, the government does not pay attention. The leadership of Ghana needs to support small scale businesses by working with the central bank on the interest rate.
KOFI BRUCE 11 years ago
I THINK MS JACKSON IS RIGHT ON POINT. GHANA CAN NEVER MAKE ANY STRIDES IN ITS OVERALL ECONOMIC DEVELOPMENT IF THE INTEREST RATE IS SO HIGH. THE GOVERNMENT MUST TAKE THE BULL BY THE HORN IS REDUCE IT DRASTICALLY, OTHERWISE WE ... read full comment
I THINK MS JACKSON IS RIGHT ON POINT. GHANA CAN NEVER MAKE ANY STRIDES IN ITS OVERALL ECONOMIC DEVELOPMENT IF THE INTEREST RATE IS SO HIGH. THE GOVERNMENT MUST TAKE THE BULL BY THE HORN IS REDUCE IT DRASTICALLY, OTHERWISE WE WILL JUST BE BLOWING HOT AIR ON THE ISSUE. LOWER INTEREST RATE WILL SURELY TURN THE ECONOMY AROUND.
OBENG RAGO 11 years ago
This is the funniest thing I will ever read from a staunch Communista as this writer, so-called Margaret Jackson. Has he just woken up from a long sleep like the old Rip Van Winkle? when did he smell the coffee and realised ... read full comment
This is the funniest thing I will ever read from a staunch Communista as this writer, so-called Margaret Jackson. Has he just woken up from a long sleep like the old Rip Van Winkle? when did he smell the coffee and realised Communism is dead and buried under the Berlin Wall? We all know this man works for Totobi Quakyi and writing under a pseudonym; a dye in the wool staunch Communista by name Karl Marx. Its even not a problem who writes this but drip by drip these people will know the truth before they all die and leave a poor country in peace.
Just as I never thought the Berlin Wall will ever tumble down, so do I read such articles and get shocked about all these statements coming from renowned left wing revolutionaries who used to raise the red anti-imperialist flag across the parapet. Nkrumaists now preaching capitalism in Ghana. Now all of them have come to believe in Capitalism because they are the neo-capitalists building Cities and living in gated streets: From their communist days to capitalist frontiers and paying poor people like Magaret Jackson to write for them - the neo capitalists of Tsatsu Tsikata, the three greedy Ahwois, Warehouse Kingpin Ato Dadzie, Ibrahim Mahama and PV Obeng all formerly anti-capitalists but now the richest capitalists in Ghana...what a laugh!! The same anti-capitalists who killed so many set up investigation Committees toprobe capitalis in Ghana...
Their communist manifesto got lost when Roman Abraomovich and Usmanov bolted away from the Russian Empire with a huge loot to live in their much derided Western Capitalism
The reason most socialists in Ghana link Dr J B Danquah to C I A is due to the old man's criticism of Nkrumaism and his bogus neo-colonialism and imperialism nonsense, the empty chants of socialism and all the inconsequential nonsense that has pervaded our political spectrum since 1951 when Ghana assumed its own self government.
Shame on you, Margaret Jackson.
These unapologetic socialist revolutionaries of Ghana politics always find a way to place their lies conveniently - as he states that 2003 (when NPP were in power) was the year of highest recorded interest rate.
No problem...you can lie and lie and lie but one day you will tell the truth as this man, Karl Marx, who works for Totobi Quakyi, has carefully placed here.
But who takes these decisions now? The last Governor of Bak of Ghana was his mate in Mfantsipim and now the country's Vice President. A telephone call from him to the Governor will cut the interest rate to 65% or whatever level they like, just as they set the rate of Inflation based on theirpreferred lowest unit of account.
But for this writer to call for Private Enterprise on this very Independence Day is something I will quietly embrace; for as our old age adage says SANKOFA, wonkyir!
The economic history of Ghana is there for all to see: Kwame Nkrumah hated Private Enterprise so much he actually acted against even farmers of Ghana. He established State Farms and Marketing Boards and Workers Brigade and State factories and State Mines and Stae Industries and State Hotels and State brothels. He did not only establis all the State Enterprises but advocated for the advancement of Socialism at par with Cuba's. He hated Capitalism and will refer to his own bitter experiences in America, which he saw as a leviathan beast. It was anti-capitalism or anti-private enterprise that broke the back of Ghana's economy and led to our indebtedness.
when Dr Busia's government tried to restore the involvement of Private Enterprise with R A Quarshie doing everything possible to revive the sedated private engine of growth, their talkative socialists derided them and actually called the Progrss Party govenment lackeys of imperialism, creating a destabilising environment for Acheampong's coup. The first policy of Acheampong was his "Yenntua Kaw", which set Ghana against the IMF.
I remember this very writer, Karl Marx or Hamilton preaching and preaching about the virtues of Communism during Acheampong's rule as he shouted like an apostate: "Workers of the world, Unite; You have nothing to lose but your chains..."
Today he advocates for private involvement in business; the same guy and his master Totobi Quakyi who hated the West and its Capitalism have gone full circle to believe in Free Enterprise (But why not as they are now serious oligopolists in Ghana)
But is it not the same revolutionaries who chased private entrepreneurs from Makola Market and destroyed their wares and stalls because it's face of capitalism? is it not the same revolutionaries still ruling us who drove the Lebanese, Syrians and every private businessman into indebtedness and exile for their private pursuit of businesses? is it not the same NDC government in power who hate Asantes and Kwahus so much for engaging in private businesses? is it not the same loud mouthed socialists who incarcerated rich people for doing their own businesses?
Does the writer think by lowering interest rates alone, private enterprise will flourish? What about the praise Tekper and Fiifi Kwetey and their Master Ato Ahwoi covet form establishing a VAT Department that actually clobber business people with more taxes?
Who does private business without protection of the State? How do you do business in Ghana with all the Customs and excise Duties, Taxation upon taxation, the obnoxious Red tape and business rates and property rates we have to pay through your nose? What type of private businesses are they talking about? The one that takes government business to private hands like import of state books and medicine and sale of oil? How can people who prosecuted those that start their business from scratch like Apino Soap know private capitalism? has anyone suffered more than Appiah Menka and Ameen Sangari under this nevulous NDC Government for running their own Private Enterprise?
Shame on you, Margaert Jackson or whoever you are...You can write and write and write all your lies from Totobi Quakyi's office and hob nob with your new capiatalists in this socialist inspired NDC but the truth is like a cork': It surfaces like the fishermen who come from the bottom of the sea singing...
" puti si e putisi...eeie putisi;
se ehom no do a; annhom no do a otaw nsu enyiwa aaaeei aye!!!
Good morning fellow anti-socialists...Be Bold and Wise!
EZEKIEL 11 years ago
A very interesting piece.My QUESTION to Jackson is.....ARE WE REALLY INDEPENDENT ENOUGH to take such measures ??? Your article and reasoning MAKE A LOT OF SENSE but somehow,I GUESS we are under SOME " YOKE" and our govt / BoG ... read full comment
A very interesting piece.My QUESTION to Jackson is.....ARE WE REALLY INDEPENDENT ENOUGH to take such measures ??? Your article and reasoning MAKE A LOT OF SENSE but somehow,I GUESS we are under SOME " YOKE" and our govt / BoG are NOT being plain to us !!
Sheikh 11 years ago
Comparing Ghana to the USA is a very myopic narrative.Ghana does not produce anything of magnitude. It is a developing nation. The USA on the other hand is the richest and most advanced nation on earth. How can you compare th ... read full comment
Comparing Ghana to the USA is a very myopic narrative.Ghana does not produce anything of magnitude. It is a developing nation. The USA on the other hand is the richest and most advanced nation on earth. How can you compare these two nations? Your article would have been more sensible if you compared Ghana to Kenya, Uganda, Ethiopia or other developing nations. Do u want Ghana to also give saving accounts 00.01 interest rates? Your article is nonsensical
LB 11 years ago
The BOG borrows its money from foreign sources and they carry interest rates. So BOG can only lend money at those interest rates and not less. Do those int. rates average 15%? Don't know. But we have to find a way to reduce i ... read full comment
The BOG borrows its money from foreign sources and they carry interest rates. So BOG can only lend money at those interest rates and not less. Do those int. rates average 15%? Don't know. But we have to find a way to reduce it and make it work for Ghanaians. Presently, it is not working for us.
Good point, Ms. Jackson. The Central bank cannot be blamed due to its position in the economy. The problem is coming from the government itself. It seems all members in parliament are there for their personal and party intere ...
read full comment
CAPITALIST SOCIALISTS OR SOCIALIST CAPITALIST ARE THESE NDC GOVERNMENT FUNCTIONARIES AND POLITICIANS OF MODERN GHANA CELEBRATING ITS BIRTHDAY!
This is the funniest thing I will ever read from a staunch Communista as this w ...
read full comment
Good point, Ms. Jackson. The Central bank cannot be blamed due to its position in the economy. The problem is coming from the government itself. It seems all members in parliament are there for their personal and party intere ...
read full comment
I THINK MS JACKSON IS RIGHT ON POINT. GHANA CAN NEVER MAKE ANY STRIDES IN ITS OVERALL ECONOMIC DEVELOPMENT IF THE INTEREST RATE IS SO HIGH. THE GOVERNMENT MUST TAKE THE BULL BY THE HORN IS REDUCE IT DRASTICALLY, OTHERWISE WE ...
read full comment
This is the funniest thing I will ever read from a staunch Communista as this writer, so-called Margaret Jackson. Has he just woken up from a long sleep like the old Rip Van Winkle? when did he smell the coffee and realised ...
read full comment
A very interesting piece.My QUESTION to Jackson is.....ARE WE REALLY INDEPENDENT ENOUGH to take such measures ??? Your article and reasoning MAKE A LOT OF SENSE but somehow,I GUESS we are under SOME " YOKE" and our govt / BoG ...
read full comment
Comparing Ghana to the USA is a very myopic narrative.Ghana does not produce anything of magnitude. It is a developing nation. The USA on the other hand is the richest and most advanced nation on earth. How can you compare th ...
read full comment
The BOG borrows its money from foreign sources and they carry interest rates. So BOG can only lend money at those interest rates and not less. Do those int. rates average 15%? Don't know. But we have to find a way to reduce i ...
read full comment