Fellow Ghanaians, it was the former prime minister of Zimbabwe, Morgan Tsvangirai (2009-2013) who said that “you can rig elections but you cannot rig the economy.”
With the tom-tom and drum of hatred, hunger, and anger being beaten by Ghanaians as part of registering their disgust, disappointment, and indignation over the current state of affairs of their fatherland Ghana, President Akufo Addo is set to betray his own mess he has engineered over the last five years.
So, all of a sudden, the much-prided competence, the unnecessary chest-beating and bragging of economic achievement has vanished into a cul-de-sac?
Obviously, the latest purposeless presidential lamentations by President Akufo Addo regarding the hardship and hunger sweeping across the land like a knife in a butter Ghanaians are going through which he is now seeking to distance himself away from and place himself above blame for the pottage of mess in the economy, is not more than an admission of failure!
With other governments across the world helping their citizens to survive the economic pandemic due to the Corona Virus, the Ghana government has nothing to offer Ghanaians except irritating excuses. Not that Ghana is not rich enough to support her citizens, she has the people’s enemies at the helm of their affairs. Where are the COVID-19 Funds?
According to the Member of Parliament for Cape Coast North, Dr. Kwamena Minta, of 19 billion cedis COVID-19 funds used by the government, only six hundred million cedis is what they have accounted for. Where is the rest of the money? Is this incompetence or thievery?
It is really amazing that President Akufo Addo’s most canonized government’s competence has turned out to be a bubble at the prick of a pandemic. Does the competence of the government only get paraded in good times? Ghanaians had voted for the party and the President to salvage them of an economic quagmire like this.
Why has the governmental capability of the NPP government suddenly vamoosed and vanished into thin air when Ghanaians need it the most. Haha. True is the NPP government under President Akufo Addo probably is the most incompetent and the most empty-headed nonentity Ghanaians ever witnessed.
In an article in 2019, titled, “Investigate the Economic Growth Of The NPP Government” https://www.modernghana.com/news/970911/investigate-the-economic-growth-of-the-npp-govt.html which was in parts one and two, I tried to draw fellow Ghanaians attention to the so-called economic growth and achievement of the government by exposing how countries economies are predicted to be growing and thriving or stunting and retrogressing due to the larger global economy itself.
That is if the larger global economy is trouble-free the rest of the economies are seen thriving, and the other way round has always been a key determiner of any economic misfortune.
In that article, I exposed that deception by the government in the various budgets statements of the country presented to parliament where, if in section two or B, which largely discusses the global economy in its entirety, is positive the rest of economies will be positive.
I pointed out what section B discussed of the Mahama administration and the subsequent economic challenges individual economies suffered that included Ghana, under President Mahama.
However, the situation changed in 2017, and that contributed to the so-called economic growth of the NPP government.
That is, the miracle of the current government in respect of their much-touted economic growth was simply that if in Section Two of the Budget that usually deals with the global economy is good, the Ghanaian economy is also projected to be good. Then famous Ghana’s economics Prophet who has been recently exposed by a pandemic to be a false economics Prophet, Dr. Bawumia, will take the credit, and his boss Akufo Addo is hailed as the best President in Africa.
Again, coupled with that so-called economic progress was the NPP government’s merciless, thoughtless, and completely clueless adoption of Expansionary Fiscal Policy which, according to Kimberly Amadeo, is used as an economic “painkiller” to revamp a depressing and recessing economy.
This means that Expansionary Fiscal policy is not used to purposely grow an economy. It’s an economic policy country like the USA adopted to navigate their “Great Economic Depression” in 1929.
Nonetheless, President Akufo Addo and his boat load of “competent team” clinched to that policy for donkey’s years since their inception without any economic depression or recession in Ghana. Using the Expansionary fiscal policy recklessly like it’s been abused under the NPP government is similar to a drug abuser whose immune system later fails to utilize the same drug abused at a time he or she needs it the most due to malfunction of the system.
Also, this incompetent use of that policy by the government had facilitated the skyrocketed so-called economic growth they touted even though without any positive impact on the people because it’s similar to a man who is on hard drugs (Tramadol or cocaine): he does not cure any ailment with it, just to make him work abnormally.
The consequences are grave later for such an abuser. One, such abused drug will never have any positive impact on him anymore in the time of need; and two it also weakens their abusers’ immune system.
This is the situation of Ghana under President Akufo Addo, fellow Ghanaians.
These twin evils of relying on global economic indexes to claim credit for competent management of economy, and the abuse of a policy that should have only been resorted to in times like this pandemic when there was none, have contributed significantly to our present woes. And it’s refreshing how the Corona Virus pandemic has exposed our economic managers to be nothing more than economic fraudsters and gangsters.
The truth is that no one individual country can really in any dramatic manner grow their economy, especially in the third world like Ghana.
This is because the current financial system is analyzed to be nothing more than a giant ponzi scheme! And this will take another article to explain. In a jiffy, George E. Griffin in his Book, “The Creature from Jekyll Island” explains how six rich individuals created the USA Federal Reserve to protect their wealth and not to rescue the world economy. Among them was John Rockefeller.
Griffin claims the Federal Reserve Banks are not Banks, and there is no federal nor reserve in the first place contrary to the fraudulent popular notion held by almost everyone. He laments that when the USA government needs money it tasks the Federal Reserve to print for the USA Treasury, and in turn, the Treasury will present what he calls i.o.us to the Federal Reserve and both institutions will convert this i.o.us. to government bonds and auction them to the rest of the world.
The danger is that the USA is simply borrowing from Peter to pay Paul but with interest that makes the entire system a giant Ponzi scheme!
With this system all other countries go through which is masterminded by the USA government and coupled with creation of Fiat currency, various governments have rather become puppets. This is because the twin evils of being in ponzi scheme as in taking the USA’s bonds, and the rendering of money worthless in 1971 by delinking money and gold that used to back money, every economy has become vulnerable if not useless.
Consequently, it is really difficult to unilaterally grow your economy as a third-world country, especially if you’re working alone in the case of Ghana’s so-called opting out of the International Monetary Fund, IMF. Again, it was out of display of gross indiscipline, incompetence, if not ignorance and untamed recklessness for Ghana to have claimed to bow out of IMF in the name of that fraudulent policy of “Ghana Beyond (f*cking) Aid”.
In simple terms, the government’s decision to “leave” IMF was nothing but a creation of a field day to showcase indiscipline of governance so as to embark upon a reckless borrowing spree without anyone to caution them. Like we are witnessing.
The reality is that if you go to IMF for a “bailout”, it is simply to solicit aid under condition (guidance of the IMF). This condition is not just by the whims and caprices of the organization. Rather, they assess your situation and offer you the help in cash and kind intellectually, detailing to you the economic path to charter to overcome your challenges. As a result, there are often conditions which if you abide by will help turn around your economic situation.
What President Akufo Addo and his economic false Prophet did was to reject the good counsel of IMF so as to borrow more than what it would have been otherwise counselled or guided to borrow due to their reckless choice and use of the “economic illegal drugs” of Expansionary Fiscal policy that we didn’t need at the time they adopted it.
It is really incensing and biting one in the butts, that President Akufo Addo has the shameless audacity to caution someone today to be disciplined. Really? I mean, a man who, for lack of discipline in governance, borrowed unnecessarily and ruthlessly for consumption of party foot-soldiers and cronies, preaching discipline? What an impudence?
After almost five years of economics of wishful thinking management and fraud, the President confessed that it has not been their efforts for the supposed thriving Ghanaian economy neither does he have a clue on how to rescue the now sinking economy.
And if luck smiles upon us as a people the President of the Republic, Nana Addo Dankwa Akufo Addo may even resign the presidency sooner rather than anticipated. Our elders say the length of the frog can only be determined when it dies.
The dwarfing and paralyzing economy of President Akufo Addo can no longer be tolerated. Otherwise Ghana is likely to go the way of communist China in 1958-62 under supreme leader Mao Zedong, Joseph Stalin of Soviet Union in the mid 1920s, and Kim Jong-ill of North Korea in 1994 when hunger killed millions of people due to the evil policies and lamentable levels of polluting corruption.
The real danger is even the pace at which majority of Ghanaians are becoming “political atheists” and depressed nihilists of government.
People no longer believe in politics due to the massive failure of President Akufo Addo’s presidency.
The evil consequences are that individuals may take the law into their own hands going forward, a move that can orchestrate violence against the government which may occasion military intervention.
God Save Us
Let’s Persevere, the Savior is on the way; President Mahama is coming back like Kai Kai.
Long Live Ghana
