Not Bad for a Banana Republic

July 26, 2023

by Simon Black Sovereign Man

I landed in Panama last night for a quick business trip, and I have to say, I’m really astonished at the political situation here.

Central American countries like Panama are often referred to as “Banana Republics”. The term refers to largely impoverished nations with underdeveloped economies which are controlled by a corrupt ruling class. I suppose Panama fits the description:

For example, an independent watchdog agency found that the top 100 members of Panama’s legislature increased their net worth by an average 114% PER YEAR over a decade-long period.

I guess these Panamanian politicians are just really good investors and real estate speculators.