http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm

Well if you look at the chartered members of the GATT/WTO, the Bahamas is not on there.

I wonder why?
Brain drain come straight to mind, but.... anyways.
Seriously now, everyone else is signing on...why shouldn't we?
Seems to be the popular trend for the most part, in terms of International of Trade agreements. Why is the Bahamas on the last place list, with regards to the GATT/WTO?

Not saying that is a bad thing, but hey, it is obvious.

Anyone has any idea as to why...aside from Gilbert Morris. (just in case he is out there watching)
:)

Not quite sure if this should be in the Economic or Political section, but I put it where I think it has more relevance. Our signing on, is political first and then economic second. If you want to talk about the Bahamian position, in world economy as it stands now with no GATT/WTO, we can but I think it would a fairly biased debate. For the mere reason that we would now know, unless we try.

:)

"CONCESSIONS
Bahamas

On 10 May 2001 a request for accession under Article XII was sent to the Director-General of the WTO by the Government of the Bahamas. A Working Party was established at the General Council meeting on 18 July 2001. The Bahamas has not yet submitted a Memorandum on the Foreign Trade Regime. The Working Party has not yet met."

... er, we haven't done our homework yet?

"CONCESSIONS
Bahamas
On 10 May 2001 a request for accession under Article XII was sent to the Director-General of the WTO by the Government of the Bahamas. A Working Party was established at the General Council meeting on 18 July 2001. The Bahamas has not yet submitted a Memorandum on the Foreign Trade Regime. The Working Party has not yet met."
... er, we haven't done our homework yet?


I'm just reading what the site said. LOL....
They need to update the site, because the people who I have spoken to, told me that we were expected to or should be on board.
I never take word of mouth for much these days, but, the site, especially if it is supposed to be the offcial source of information from the WTO....should be updated. That raisies a fundamental concern about the wording and deliberations of the WTO.

But, it still stands...we have not been accepted at least. If you read the list, there are countries that signed on after 2000 and 2001, the same time you said we have asked for ascension. So, what the heck is the issue?
:dgi:
Is it a WTO issue, or a Bahamas issue?
What are the arrangements...either you sign on or you dont!
My point still remains!
:)
And why are these things done so clandestine....why haven't the working party met?

p.s.
It is not as if the Bahamas is in the postion top bend the rules of GATT principles, from what it stands for for developing countries.

I wouldn't be suprised if Islandgyal's explanation is the dominant one. We drag our feet...all of us. Nothing gets done until the eleventh hour....AKA. when our industries are tremendously threatened. We don't really try to build anything for our interests, and we don't take measures to prevent something, and you wonder why Bahamians and Foreigners allike don't take our institutions seriously! (AKA....Where's the FBI/Scotland Yard?!)

In addition. An article to ascension does not mean signing on.
Hehehehe...

Be careful of these tricky little words these people does use.
Another tricky little phrase I have heard used recently is "Heads of Agreements"....

Full obfuscation and continual vagueness is the name of this game.

*throws tangent*

YK2:

Did you hear?? Housing in the US dropped 17 percent...still think real estate's a good investment idea??

*throws tangent*
YK2:
Did you hear?? Housing in the US dropped 17 percent...still think real estate's a good investment idea??


Long term. Hell yea...

Why are you throwing a tangent?
LOL....
Private property is essential to economic growth. Nothing more private and property than your own house. Things always go down and it is not because the market on housing is bad, but because the entire economy is distorted. Long term investments are always evaluated differently than short term, capitalist investments.

Why are we talking about this again!?!?!
:dgi:

We are talking about it because I like pointing out that I am/was right. The point is that if housing slows then it'll affect the APR. It doesn't make sense investing in a long-term commitment at the most expensive time to own a home. If you look at an amortization schedule for a home, the change in the price of a home and interest rate on a 30 year mortgage can mean the difference in paying back 500,000 for a 250,000 house or 325,000 for a 250,000 house. There more to it than just "a house is always a good investment".

...and yeah, I just wanted to point that out again...

:D

We are talking about it because I like pointing out that I am/was right. The point is that if housing slows then it'll affect the APR. It doesn't make sense investing in a long-term commitment at the most expensive time to own a home. If you look at an amortization schedule for a home, the change in the price of a home and interest rate on a 30 year mortgage can mean the difference in paying back 500,000 for a 250,000 house or 325,000 for a 250,000 house. There more to it than just "a house is always a good investment".
...and yeah, I just wanted to point that out again...
:D


It all depends on what you think is right.
:shhh:

Hehehehe....
That is all.

DON'T SWITCH MY TOPIC!!!

Why would housing markets in the US affect our real estate...or am I lost?

As long as there are many people demanding housing here, from Bahamian citizens and residents to just 2nd and 3rd home owners, not to mention the cost of all the utilities, I think prices here will stay up if not stay stable at that rate.

Why would housing markets in the US affect our real estate...or am I lost?
This all stemmed from a topic I had Mikki backpedalling on a month or so back. I made him delete posts in all. LOL...
Now, he has turned the topic into what he feels we were talking about.
You are right, this has nothing to do with our housing market, aside from the issue of whether or not tourists will come in solid numbers from five to ten years.


As long as there are many people demanding housing here, from Bahamian citizens and residents to just 2nd and 3rd home owners, not to mention the cost of all the utilities, I think prices here will stay up if not stay stable at that rate.


With that, homes and real easte gives the buyer leverage. You may not sell it for what you paid for it, but the power which it gives you is undoubtable.
Mikki is a shorter. In a very short term capital investor frame of mind!
He does not want to be bothered with long term planning to that extent!
:)

Chancellor:

Do you know what drives the housing markets?? Interest rates. The housing market slows or boosts depending on whether the interest rates increases or decreases. People buy houses using bonds - well, we call it a mortgage but essentially a mortgage is the exact same thing as a bond. A bond is long-term, just like a mortgage. When interest rates increase, bondholders panic because the market rate determines the value of the bond, not the rate that you got when you bought the bond. Same with housing. If you bought a house 10 years ago with a 5 percent APR, that 5 percent was used to determined the value of your house. If the house is listed at 300,000 - that is not the value of the house, the value of the house is the payments discounted by the prevailing market rate. If the market rate is high, then your house is worth less, if the market rate is low, then your house is worth more.

The distinction between long-term and short-term investment is moot. If short-term rates increase then people buying houses would prefer a long term rate, if short-term rates decrease then people buying homes would prefer a shorter term mortgage loan. So long-term rates are a function of several things - primarily short-term rates, because depending on where short-term rates go will determine if people accept a long-term mortgage or not.

The Bahamas' *SECOND* largest industry is banking?? Correct?? And you fail to see the significance that higher US interest rates will have on the banking community in the Bahamas?? If rates in the US keep increasing, then the more american money sitting in Bahamian banks will be pulled out. That also means that Bahamian banks will have to raise interest rates above US rates in order to keep those dollars in the Bahamas. If they do not, then there is less and less money in the Bahamian banking system to lend Bahamians. Ergo, the rates on home mortgages in the Bahamas will increase. Which means fewer and fewer Bahamians will be able to own a home. And that's not only less money to loan out for mortgages, but also less money to loan to small businesses or corporations. Which means they can't expand. No expansion means GDP falls. The unemployment rate increases.

Interest rates in the US are a BIG BIG deal.

*throws tangent*
YK2:
Did you hear?? Housing in the US dropped 17 percent...still think real estate's a good investment idea??

Investment in real estate has traditionally outperformed the Stock Market and Mutual Funds.I believe prudent buying of real estate will still result in the same type of profit. These "market adjustments" always happen after buyers go crazy,driving up home prices to unrealistic levels. After lending institutions rein-in all of this silly "creative financing" properties will be foreclosed upon,prices will drop and the cycle will resume. Timing is everything,the last 3 years was most likely not the time to buy,unless the prise was very reasonable.:)

Chancellor:
Do you know what drives the housing markets?? Interest rates. The housing market slows or boosts depending on whether the interest rates increases or decreases. People buy houses using bonds - well, we call it a mortgage but essentially a mortgage is the exact same thing as a bond. A bond is long-term, just like a mortgage. When interest rates increase, bondholders panic because the market rate determines the value of the bond, not the rate that you got when you bought the bond. Same with housing. If you bought a house 10 years ago with a 5 percent APR, that 5 percent was used to determined the value of your house. If the house is listed at 300,000 - that is not the value of the house, the value of the house is the payments discounted by the prevailing market rate. If the market rate is high, then your house is worth less, if the market rate is low, then your house is worth more.
The distinction between long-term and short-term investment is moot. If short-term rates increase then people buying houses would prefer a long term rate, if short-term rates decrease then people buying homes would prefer a shorter term mortgage loan. So long-term rates are a function of several things - primarily short-term rates, because depending on where short-term rates go will determine if people accept a long-term mortgage or not.
The Bahamas' *SECOND* largest industry is banking?? Correct?? And you fail to see the significance that higher US interest rates will have on the banking community in the Bahamas?? If rates in the US keep increasing, then the more american money sitting in Bahamian banks will be pulled out. That also means that Bahamian banks will have to raise interest rates above US rates in order to keep those dollars in the Bahamas. If they do not, then there is less and less money in the Bahamian banking system to lend Bahamians. Ergo, the rates on home mortgages in the Bahamas will increase. Which means fewer and fewer Bahamians will be able to own a home. And that's not only less money to loan out for mortgages, but also less money to loan to small businesses or corporations. Which means they can't expand. No expansion means GDP falls. The unemployment rate increases.
Interest rates in the US are a BIG BIG deal.

Couldn't say it better myself!:hammer:

Investment in real estate has traditionally outperformed the Stock Market and Mutual Funds.I believe prudent buying of real estate will still result in the same type of profit.

Not so. Over the past ten years, actually when I checked this out it was 1990 to 2000, the average return on a home was about 150 percent. The return on the S&P 500 was 1000 percent. Now which do you think is a better long term investment??

Even as recent as 2003, the S&P was at 800 and now its at 1500 (I'm rounding numbers up). A return of 87 percent over a 3 year span (end of 2003 it closed at 800, the end of 2006 it closed at 1500). How many homes do you know that almost doubled in price over three years??

In 1990, the DJIA was at 2500, today its at 12500. That's like buying a 250,000 dollar home then ten years later its worth 1.3 million dollars. Not real estate market on the planet is that robust.