It Is the Elite

It Is the Elite

6 October 2026

A few days ago, Stephen commented that the fact that Curaçao was not moving forward was due to an elite that is quite happy with things as they are. He received support for that view. For the sake of the discussion, I accused them of slipping rather quickly into the victim role and forgetting that voters themselves make their choices. They responded that it is not even about politics, but about the power behind politics.

And of course, they have a point. How else are we supposed to understand it? At least 30% live below the poverty line, and 60% have difficulty meeting their debt repayments. What are we supposed to think when, in such a market, banks and car dealers work together to organize car shows offering consumers the latest cars? In the past, you had to pay off a car in 24 months, but nowadays you can take seven years to repay it. And everyone knows that a new car is one of the worst investments you can make.

But when consumers approach a bank for a mortgage on a plot of land or a home, the bank is considerably less accommodating. I hear consumers complain that the process is much smoother for foreigners than for locals. Apparently, the same applies to loans for investments.

But here, too, some nuance is needed. Apparently, consumers are less interested in products offered by banks to finance things such as solar panels.

Miguel Goede