Am good AB, how's the U.S, thought you'd be dropping by this holiday season and probably bring in some dollars to save our shilling from its imminent slump.... One thing that you should note sir is that currently, Kenya has a leadership vacuum, its crazy to note that there is no single candidate that is popular enough to win the election without relying on his kinsmen. This is quite dangerous for the country considering the inflation and the unaffordability (if there's such a word) of basic, everyday commodities. The hopelessness and disillusion due to the above stated fact will and should lead to a revolution, the only problem is tribalism.
I loved the article by Commissioner Omar Hassan, he said what everybody has been saying all along. Its common knowledge that Kibaki has given all the sensitive dockets to his tribesmen, ignoring and going against the constitution. the goons who have been baying for Omar's blood are just insensible and have buried their head in the sand like the proverbial ostrich, Kenyans are tired of their theatrics, we know who they are and they wont see parliament next election.
Na AB unajua hatuwezi hamia tuje Bongo, you guys dont like us like that.. on a serious note, its about time the Kenyan public puts its act together, we need to be united to win this war against this mad cleptocrats.
Smatta na Mzalendo452,
I'm good out here lakini hli ji-snow na baridi makes me wanna come home ASAP. I was there last year Dec to
February shuttling between Dar-Mombasa-Nairobi and Arusha. Pity we couldnt link up and have a tusker in the
name of EAC..( I know u like that animal...:biggrin
🙂
I concur with your analysis of the kenyan political landscape and the reason for apathy. However I beg to differ
with your statement of not voting and staying home imbibing the frothy tusker. If the learned like you don't go
out there and educate the masses then the situation will remain as it is and that doesn't augur well with posterity.
Kwa hivyo nitakuomba kwa mara nyengine usife moyo ndugu yangu, you have to keep the heat on before
meaningful gains are realised. Contrary to that, then all the meaningful gains will be wiiped out. Right now as I read
various Kenyan dailies, it is obvious that the
'Mpigs' do not have a clue that there is a new dispensation in town and
thats why they don't want to respect the
new constitution. Why are they still arguing about not paying taxes? Why
are they still arguing about the election? Why are people like Wetangula and Goebels Mutua trying to go against the
Judge's ruling on Bashir's arrest warrant? All I'm trying to say ni kwamba licha ya ku-promulgate katiba bado tunaona
mapambano yapo and folks should not slack. Carry that message forward bro!
Now back to the economic front.
This is how the shilling has been declining with some 'fake recovery'...
And then Cheserem who I believe was the CBK governor during Moi days ( I was learning in Kenya by then) said this about Ndungu:
The Standard | Cheserem says Ndung'u has failed economy
Kisha to add my two cents to the topic, I believe Kenya imports more than it exports and to maintain such a trade balance,
she has to borrow money from somewhere. That in itself is not bad lakini shida inatokea when you have to payback plus interest.
That is where the common mwananchi gets bombarded with taxes that are meant to offset these debts. Kisha kumbuka kua all
this is not happening in a vacuum and there are factors at play including depreciation and inflation. That scenario paints a dog
chasiong its own tail in circles! i had given an example of the estimate done on the Thika Highway by the Chinese and how
inflation has really changed the price tag!...By the way my sister works at AfDB and gives me some infor on the workings of
this thing.
Kenya's current fiscal year is running on a trade deficit of sh 236 billion while the total expenditure projection stood at 1.2 trillion.
Sasa who is going to finance that deficit?....That is where Uhuru Kenyatta comes with his economics of wanting a leeway in imposing
levies and taxes on the common mwananchi! Somebody told me that the man has a stake in Kenya's banking system where
people get loans! Go figure why he is pushing for this freehand.
Another bleak picture I want to paint is contained in this story I picked out in the daily nation:
High rates stoke fears of housing crisis
File| Nation Apartments under construction in Nairobi. Experts warn high interest rates and inflation have slowed demand for houses, especially in upmarket estates.
By MWAURA KIMANI pmkimani@ke.nationmedia.com
Posted Friday, December 9 2011 at 22:00
Elizabeth Ngigi, an auditor, took a Sh5 million mortgage two years ago to buy a three-bedroom house in Kahawa Wendani, in the outskirts of Nairobi.
The
interest rate for the facility was
10 per cent, which means she was paying a monthly instalment of
Sh53,730. She would have paid Sh9,6071,466 at the end of the 15-year mortgage.
Ordinarily, that was affordable for the 27 year-old who earns a net salary of
Sh80,000. But now it's not.
At the end of last month, the bank sent her a note - the fourth since she took the facility - saying it had
adjusted the lending rate to 23 per cent, pushing her monthly repayment to Sh99,083.
A quick calculation shows she would have paid
Sh17,834,970 - more than
triple the amount borrowed, assuming the rates remain at 23 per cent - after 15 years
"I'm left holding on a loan which I can no longer afford. I regret it" Ms Ngigi said.
The steep rise in interest rate has come as a shocker to Kenyans whose spending habits were shaped by years of relatively low cost of borrowing. Each increase of 1 percentage point in rates adds as much as 10 per cent to the total cost of a home, real estate analysts said.
High rates stoke fears of housing crisis *- News*|nation.co.ke