KK seems to be putting Kenya on the right track economically

Mwalimu-G

Mwalimu-G

Elder Lister
The GDP grew by 5.6 or 6.3 or 5.9, depending on who is telling you, with agriculture showing a strong recovery, while all other sectors shrunk "on tighter policies" (IMF).
 
Denis Young

Denis Young

Elder Lister
Why are bank interest rates high? CBK raised rates.
Why did CBK raise rates? To support the shilling and reduce supply side inflation.
Why do we have a problem with the shilling and supply side inflation? Because instead of handshake focusing on investing in the productive sectors of the economy to generate more goods, they continued borrowing loans, stealing and selling our dollars from our FX reserves to support our shilling.

That circles back to why interest rates are so high. Nobody likes injections, but the injection you must take to get better. Ama you thought vodoo handshake economics were not going to have consequences? Also, isn't this the same problem in the US when the FED raised rates?
 
O

Okiya

Elder Lister
Denis Young said:
Why are bank interest rates high? CBK raised rates.
Why did CBK raise rates? To support the shilling and reduce supply side inflation.
Why do we have a problem with the shilling and supply side inflation? Because instead of handshake focusing on investing in the productive sectors of the economy to generate more goods, they continued borrowing loans, stealing and selling our dollars from our FX reserves to support our shilling.

That circles back to why interest rates are so high. Nobody likes injections, but the injection you must take to get better. Ama you thought vodoo handshake economics were not going to have consequences? Also, isn't this the same problem in the US when the FED raised rates?
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And then they increase taxes in a period of high cost of living and dampened economic activity. That's wise sio?
 
Denis Young

Denis Young

Elder Lister
Okiya said:
And then they increase taxes in a period of high cost of living and dampened economic activity. That's wise sio?
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Expenditure determines the budget. The budget determines taxation. Thanks to your Jayden and Baba, debt repayments in the first year of this administration exceeded 25% of total debt, the first time ever. Not only that, but they left bankrupt universities and an underwhelmingly financed CBC program that not only required the largest quantity of teachers hired but also classrooms not built and contractors not paid. Let alone that, they left us with a fuel crisis as well as a liquidity crisis.

But no, don't tax us more, Ruto. Use the peanuts you are raising to solve all these challenges.
 
Silhouette

Silhouette

Lister
Denis Young said:
Expenditure determines the budget. The budget determines taxation. Thanks to your Jayden and Baba, debt repayments in the first year of this administration exceeded 25% of total debt, the first time ever. Not only that, but they left bankrupt universities and an underwhelmingly financed CBC program that not only required the largest quantity of teachers hired but also classrooms not built and contractors not paid. Let alone that, they left us with a fuel crisis as well as a liquidity crisis.

But no, don't tax us more, Ruto. Use the peanuts you are raising to solve all these challenges.
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Apparently they also left tattered curtains that need 10 million shillings to replace and a deputy president's house that requires more money to repair than it did to build. It also left pavilions at State House unmade knowing very well an unbuilt pavilion is a national security issue.
 
O

Okiya

Elder Lister
Denis Young said:
Thanks to your Jayden and Baba, debt repayments in the first year of this administration exceeded 25% of total debt.
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I'll respond point by point starting with this one.

When Uhuruto entered power in 2013 debt was US$13.7B. When Raila did handshake in 2018 debt had increased by 129% to US$ 31.4B. When Uhuru/Raila was exiting in 2022 debt had increased by 4.5% to US$35.9B.

So how is Raila who was present when debt increased debt by 4.5% to blame and not Ruto when it increased by 129%?
 
Mwalimu-G

Mwalimu-G

Elder Lister
Silhouette said:
Apparently they also left tattered curtains that need 10 million shillings to replace and a deputy president's house that requires more money to repair than it did to build. It also left pavilions at State House unmade knowing very well an unbuilt pavilion is a national security issue.
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And a perfect tarmac paving in state house that needed two rounds of cabros before Queen Marie declared them perfecto. And, hey, we also need a new state lodge in Kerio Valley so that the king can watch local bandits playing their blood games, asiboeke saana.
Meanwhile, the road to Mathira that was 75 paracent complete iko pale pale Uhulu aliiwacha
 
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Tiiga Waana

Tiiga Waana

Elder Lister
Mwalimu-G said:
And a perfect tarmac paving in state house that needed two rounds of cabros before Queen Marie declared them perfecto. And, hey, we also need a new state lodge in Kerio Valley so that the king can watch local bandits playjng their blood games, asiboeke saana.
Meanwhile, the road to Mathira that was 75 paracent complete iko pale pale Uhulu aliiwacha
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To this mix kindly add - KK’s naive dunderheads were tricked by the crafty and cunning Arabs to enter into Government2Government Oil Deal whereby the fools were conned almost Ksh10 Billion. They never like talking about it because of the shame and embarrassment of this mighty shafting. Oil would be much much cheaper today if they had not embarked on this fool’s errand.
 
DeepInYourMind

DeepInYourMind

Elder Lister
Denis Young said:
Why are bank interest rates high? CBK raised rates.
Why did CBK raise rates? To support the shilling and reduce supply side inflation.
Why do we have a problem with the shilling and supply side inflation? Because ...
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Umeanguka. Because of economic mismanagement that started in 2014 with the first Eurobond. If Uhuru's performance in the first term was similar to his performance in the second one, the economy would have been much better off (@Okiya has given you numbers up there).

In fact I view the unprecedented handshake as an act of desperation when he realized massive corruption in his own camp was going to derail his administration completely and undermine his legacy.
 
Mwalimu-G

Mwalimu-G

Elder Lister
Tiiga Waana said:
To this mix kindly add - KK’s naive dunderheads were tricked by the crafty and cunning Arabs to enter into Government2Government Oil Deal whereby the fools were conned almost Ksh10 Billion. They never like talking about it because of the shame and embarrassment of this mighty shafting. Oil would be much much cheaper today if they had not embarked on this fool’s errand.
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Na Billion 17 ya ku-stabilize bei ya mafuta na mafuta ya Turkey ambayo ilikuwa ya Galana na si ya mama mwenye hana sura ya importer. Oh na mafuta ingine ya mama pima na michele.
 
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