Gambia’s delusional dictator Yahya Jammeh has announced that he will reduce oil prices this coming Monday, amid hyperinflation threatening the lives of the average consumer in Banjul, the Freedom Newspaper can reveal. The announcement was made on State TV GRTS. Prices of basic commodities, including cooking oil, gas, and so on have jumped the roof in recent times in The Gambia.
The weird and economically bankrupt dictator, has his own plans of combating inflation. Since professional economics is not working to the dictator’s expectations, Jammeh wants to venture into conventional economics. His Kanilai “Jahutu” and “Kanja” economic theory will now on determine market prices. No kidding folks.
In other words, Jammeh wants to introduce price control mechanism system in The Gambia, even though his government is unable to import food items into the country. It is public knowledge that the private sector is largely responsible of importation. Someone is going to pay for the commodity price slices.
Like he has done with the workers pay cut, Jammeh is also determined to control market prices. Little did the idiotic Kanilai monster, knows that in free market economy, price control system is a recipe for hoarding. Businesses will not sell their merchandise (goods) at losses. Once businesses lost faith into the free market system, they will resort to hoarding or refusing to import goods into the country. That will create another problem for the government and the consumers. Someone needs to talk sense to this idiot calling himself as an expert in any sphere of national development.
There is a problem and Jammeh should stop meddling into the affairs of trade and economic management. Let the professionals handle issues relating to the economy, and trade. Trying to micromanage the private sector, the economy, and the purchasing power of the consumer, will never work. Economics is governed by certain sets of rules. No amount of circumvention can overcome or defeat such rules. Nations must play by such economic rules if truly they wanted to make their respective countries economically viable and stable.
To put it bluntly: No country can claim economic prosperity without complying with modern economic theories and rules. The Gambia is of no an exception. What Jallow Kanilai, has done in regulating commodity prices, in our opinion amounts to Jammeh committing an economic suicide. Pretty soon food shortages will hit the market.
There is going to be a likely showdown between the local business owners, and consumers. While Jammeh is being disingenuous in his recent national pay cut for workers, on the other hand, Jammeh is telling workers indirectly that the recently imposed pay cuts, would not adversely affect their purchasing power. In that the commodity prices reduction would augment or somehow replace the pay cuts they suffered. That’s misleading so to speak. No worker should buy such economic arraignments coming from Jammeh. Jammeh doesn’t own the market. Traders should not be compelled to sell their goods at losses. We rest our case!
Written By Pa Nderry M’Bai