WHERE IS DR JACOB WEISS? O'NEILL'S SUPER ECONOMIST
As the country is fast sinking into debt and economic ruin, we are seeking answers. We know Prime Minister Peter O'Neill is a failed businessman, having failed in three (3) businesses he started before joining politics. His true success in business came when he put his hands into the public coffers. The rest is history. We cannot expect miracles from him. He is like an inexperienced mechanic who enjoys stripping all the parts of a vehicle in the pretext of fixing it but really does not know how to fix it. It will be moments when he will disappear without fixing the mess he created.
Behind O'Neill's shonky economic management were a number of spivvy characters. One that PM O'Neill relied most was Dr Jacob Weiss, who provided most of the advise on structuring and procuring more loans. Jacob Weiss would attend Government Caucus meetings and mislead all the clown/naïve Members of Parliament that it was okay to borrow excessive from overseas and domestic markets. He justified by saying that Japan and US are some of the countries that fund most of their budgets by borrowing beyond their GDP- Debt ratio.
He would defend the O'Neill governments excessive borrowing and inflated spending: See for example: http://www.emtv.com.pg/news/2015/03/weiss-don-t-count-your-chips-until-they-fall/
Well we are now sinking and we demand Jacob Weiss to tell us how we are going to extricate ourselves from this mess. We are seeking his economic acumen and expertise in rescuing us. All the signs are telling us that we are bankrupt and sinking.
Where has Dr Jacob Weiss gone? Has he left his chief economic advisor role and retiring to his hydroponic farm at nine mile outside Port Moresby?