In the newspapers

[Cortedivoire]

 

[Mwalimu-G]

Why the economy will not recover any time soon - in fact it will get worse @Kasaman . When consumers can't afford to consume because you have taken away all their money, you have made it difficult to borrow from banks because you have made interests too high, then expect producers not to produce goods they cannot sell, lay off workers and eventually close shop. Those who can will move to friendlier markets. Farmers will reduce acreage and the population will starve.
#PataPoteaEconomics.

 

[Mwalimu-G]

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Yesterday, as I traveled to Marsabit, I fueled at the same station where I fueled the same car in Sept. 2017. I paid Ksh. 8,600 (about $83 at exchange of 103 THEN) for 90litres of Petrol in 2017 at Ksh96/L. This time I had to part with Ksh 19K (about $128 NOW) - a cost increase by 10,400/ (or $70 at the current exchange rate of 148). But if both times I paid in USD, the cost increase is just $45. So, whereas Ksh 10,400 can nominally converts to $70, today's real value of Ksh 10,400 is $45, meaning that 1 USD is about Ksh 232. The increase in cost of fuel & generally the high cost of living in Kenya has little to do with global conditions but more with the de-valuation of the Shilling. The bitter truth is that, globally, the cost of fuel isn't on the increase, but it is nationally, becos our Shilling is on rapid decline. Economists will argue that the strength of a currency isn't indicative of how good the economy is. But the fact is the current exchange rate of Kshs against USD isn't its real value. I don't know how it can be done, but Kenya should be focus on salvaging the Shilling.

 

[Young_Turk]

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Yesterday, as I traveled to Marsabit, I fueled at the same station where I fueled the same car in Sept. 2017. I paid Ksh. 8,600 (about $83 at exchange of 103 THEN) for 90litres of Petrol in 2017 at Ksh96/L. This time I had to part with Ksh 19K (about $128 NOW) - a cost increase by 10,400/ (or $70 at the current exchange rate of 148). But if both times I paid in USD, the cost increase is just $45. So, whereas Ksh 10,400 can nominally converts to $70, today's real value of Ksh 10,400 is $45, meaning that 1 USD is about Ksh 232. The increase in cost of fuel & generally the high cost of living in Kenya has little to do with global conditions but more with the de-valuation of the Shilling. The bitter truth is that, globally, the cost of fuel isn't on the increase, but it is nationally, becos our Shilling is on rapid decline. Economists will argue that the strength of a currency isn't indicative of how good the economy is. But the fact is the current exchange rate of Kshs against USD isn't its real value. I don't know how it can be done, but Kenya should be focus on salvaging the Shilling.

Kenya should admit that its experiment with independence was a complete failure and just ask Britain if it can go back to being a colony.

At least we will have British pounds to work with.

 

[Mwalimu-G]

Kenya should admit that its experiment with independence was a complete failure and just ask Britain if it can go back to being a colony.

At least we will have British pounds to work with.

I heard king Charlie is coming for Masonic things in a few days. Prepare your memorandum.