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Uhuru's own goal
Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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I remember when Michuki reduced the sitting/standing capacity in matatus and some thought the industry would collapse because they would not make money, or wanjiku would not afford bus fare.
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Rank: Veteran Joined: 6/8/2010 Posts: 1,732
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Banks have done their part, they have given enough bundles for their bloggers. What they don't know is that already uhunye signed the bill and what us normal wanjiku know is that soon the prices will stabilize and we will start boarding the ship again, by then uhuruto will be back at statehouse for second term and we will be enjoying quite cheaper loans Life is an endless adventure
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Rank: Veteran Joined: 11/17/2009 Posts: 1,049
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Caveman wrote:Wakanyugi wrote:Wamunyota wrote:So in his wisdom our able president ignored expert advice in enacting the bill on capping the interest rates.He chose votes over economic stability.He did not want to start conflicts with the MPs after shadow boxing them to join the jubilee party.He chose the easy route.The more popular route.The economy is now completely f***ed.The banks have already lost 47BIRRION In their value.
The economic meltdown has started.The popularity politics he was protecting will come back to bite his ass.
His only hope is now for Raila to run for president so that they can tell us about how Raila cannot be president.
This is a big fraud.My kalocal cannot buy more stocks because the banks are no longer offering unsecured loans.He cannot but a tuktuk because the loan on motor vehicles have been freezed.
The economic credit crunch have started.The exchange rate to the dollar is going back to 115.He can as well vote for himself.
Sasa tutakura raha aje kama kakuna pesa? Wamunyota: This 'sky is falling' scare mongering is getting a little old. So bank stocks have tanked and foreign speculation capital is leaving the country, to which I say good riddance. Can you tell me exactly how this is likely affecting mama mboga? Don't confuse the whining of a long pampered elite with the majority, many of whom have no investments on the stock market and would not dream of a bank loan, even at 14%. By daring the banks Uhuru has made a political master stroke that will cement his chances of electoral success and long term will benefit the economy. Finally we have recently seen even more stringent regulation of banks (including interest rates) in US, Europe etc following the 2008 bank led economic collapse. The sky has yet to fall. Get over yourselves. Please help me understand these: 1) The banks are supposed to exploit their customers and no action should be taken? Action should certainly be taken - but done in a measured and responsible way - choosing the least hurting (to the economy et al) route.2) There is competition among banks and other institutions on who is going to make abnormal profits from exploiting their customers? It's a free economy. Even Mama Mbogas prices are set by herself, but if one can still make money selling at less, then she would be pushed out through competion.3) 4% above base rate set by CBK is unrealistically low? One would need to look at all variables. I mean why hasnt anybody gone into banking to offer those kinds of interest rates and attract all the credit seekers and boom with all the volumes that are sure to follow!4) Who should be protected: the powerless consumer or the greedy investors? Cut out the prejudices first. That said, Govt should be an unbiased and responsible arbiter/regulator Just as absolute power corrupts leaders, so does absolute fanaticism blind the people from logic
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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sitaki.kujulikana wrote:I remember when Michuki reduced the sitting/standing capacity in matatus and some thought the industry would collapse because they would not make money, or wanjiku would not afford bus fare. Banking industry is not the same as matatu industry.No one is telling wanjiku that she will have to walk to work and hang on the overcrowded trains.Brace yourselves. Hutia Mundu!!
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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freiks wrote:Banks have done their part, they have given enough bundles for their bloggers. What they don't know is that already uhunye signed the bill and what us normal wanjiku know is that soon the prices will stabilize and we will start boarding the ship again, by then uhuruto will be back at statehouse for second term and we will be enjoying quite cheaper loans This has nothing to do with the 37 bloggers.Economics should be made a compulsory subjects for all students to reduce ignorance. How soon with the prices stabilize?By elections Wanjiku will be feeling the heat and the economy will be in shambles. Hutia Mundu!!
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Caveman wrote:Wamunyota wrote:Caveman wrote:Wamunyota wrote:Caveman wrote:Wakanyugi wrote:Wamunyota wrote:So in his wisdom our able president ignored expert advice in enacting the bill on capping the interest rates.He chose votes over economic stability.He did not want to start conflicts with the MPs after shadow boxing them to join the jubilee party.He chose the easy route.The more popular route.The economy is now completely f***ed.The banks have already lost 47BIRRION In their value.
The economic meltdown has started.The popularity politics he was protecting will come back to bite his ass.
His only hope is now for Raila to run for president so that they can tell us about how Raila cannot be president.
This is a big fraud.My kalocal cannot buy more stocks because the banks are no longer offering unsecured loans.He cannot but a tuktuk because the loan on motor vehicles have been freezed.
The economic credit crunch have started.The exchange rate to the dollar is going back to 115.He can as well vote for himself.
Sasa tutakura raha aje kama kakuna pesa? Wamunyota: This 'sky is falling' scare mongering is getting a little old. So bank stocks have tanked and foreign speculation capital is leaving the country, to which I say good riddance. Can you tell me exactly how this is likely affecting mama mboga? Don't confuse the whining of a long pampered elite with the majority, many of whom have no investments on the stock market and would not dream of a bank loan, even at 14%. By daring the banks Uhuru has made a political master stroke that will cement his chances of electoral success and long term will benefit the economy. Finally we have recently seen even more stringent regulation of banks (including interest rates) in US, Europe etc following the 2008 bank led economic collapse. The sky has yet to fall. Get over yourselves. Please help me understand these: 1) The banks are supposed to exploit their customers and no action should be taken? How to banks exploit their customers?We are a capitalist state.Willing buyer willing seller.2) There is competition among banks and other institutions on who is going to make abnormal profits from exploiting their customers? Define an abnormal profit.3) 4% above base rate set by CBK is unrealistically low? How did the MPs determine the 4%.Why not 5% or 3%?4) Who should be protected: the powerless consumer or the greedy investors? Everyone deserves protection from the crooked government.The so called greedy investors are employers of hundreds of kenyans and play a very important role in the economy. Clearly, I will not get help. I am just a customer. A naive customer who is believing the lies being peddled by his government for votes. True. Let me retreat back to my cave where i belong.  Usiwahiiii toka kwa hio cave  If Obiero did it, Who Am I?
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Poleni Wazua Bankers Association Multiple Threads ndio zimekuwa zenu Inaitwa Temogracy
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Wamunyota wrote:freiks wrote:Banks have done their part, they have given enough bundles for their bloggers. What they don't know is that already uhunye signed the bill and what us normal wanjiku know is that soon the prices will stabilize and we will start boarding the ship again, by then uhuruto will be back at statehouse for second term and we will be enjoying quite cheaper loans This has nothing to do with the 37 bloggers.Economics should be made a compulsory subjects for all students to reduce ignorance. How soon with the prices stabilize?By elections Wanjiku will be feeling the heat and the economy will be in shambles. It would seem, there isn't a single economist or financial analyst in your local. You should know the panic inside the bank HQs. The numbers are not on their side and Uhuru knew it. Within 21 days, Equity will start paying Kes. 60Mn per day on customer deposits. At the moment they are paying Kes.16M. Their interest income reduces from 45% to 14%. And because they are not lending, they are not earning negotiation fees, which is the 2nd highest source of commissions after Forex. Bottom line, unless they change their business model, they will report a loss in Q4 down from a profit of 5bn. Uhuru has these banksters by the balls and he knows it. Don't be fooled by the bravado you see on TV. About 20 of these banks are not even sure they will survive. They are gasping for air. It's a fight for their life. Not a very menacing sight for those of us who crunch numbers. Within 90 days you will realise Uhuru's decision was pure genius. And the loss in value of bank stocks shouldn't worry you at all. The money is moving to wanjiku's pockets in reduced loan rates and higher deposit rates. And the 45% is not a typo. That is what they charge wanjiku.
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Rank: Member Joined: 12/27/2015 Posts: 130
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Ata mimi sioni hii burhaha ni ya nini. Economy itakuweko sawa, Those banks threatening not to lend will loose customers to akina Faulu na Rafiki eg(Equity vs Barclays some years ago). This is a Financial reset in Ke. After thinking long and hard I can only see benefits for Wanjiku. Ps I am no economist.
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Rank: Veteran Joined: 7/3/2007 Posts: 1,635
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Wamunyota wrote:sitaki.kujulikana wrote:I remember when Michuki reduced the sitting/standing capacity in matatus and some thought the industry would collapse because they would not make money, or wanjiku would not afford bus fare. Banking industry is not the same as matatu industry You are exactly right on this one. Money is not any product. It is the lifeblood of an economy and, like petrol, is too important to be left to the whims of so called market forces. Banks happen to be the plumbers of the economy in that they control how money flows and to whom. Unfortunately, on countless occasions and domains, they have proven themselves too greedy to perform this role without risking the patient. Hence the need for regulation. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Veteran Joined: 4/1/2009 Posts: 1,884
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Nandwa wrote:Caveman wrote:Wakanyugi wrote:Wamunyota wrote:So in his wisdom our able president ignored expert advice in enacting the bill on capping the interest rates.He chose votes over economic stability.He did not want to start conflicts with the MPs after shadow boxing them to join the jubilee party.He chose the easy route.The more popular route.The economy is now completely f***ed.The banks have already lost 47BIRRION In their value.
The economic meltdown has started.The popularity politics he was protecting will come back to bite his ass.
His only hope is now for Raila to run for president so that they can tell us about how Raila cannot be president.
This is a big fraud.My kalocal cannot buy more stocks because the banks are no longer offering unsecured loans.He cannot but a tuktuk because the loan on motor vehicles have been freezed.
The economic credit crunch have started.The exchange rate to the dollar is going back to 115.He can as well vote for himself.
Sasa tutakura raha aje kama kakuna pesa? Wamunyota: This 'sky is falling' scare mongering is getting a little old. So bank stocks have tanked and foreign speculation capital is leaving the country, to which I say good riddance. Can you tell me exactly how this is likely affecting mama mboga? Don't confuse the whining of a long pampered elite with the majority, many of whom have no investments on the stock market and would not dream of a bank loan, even at 14%. By daring the banks Uhuru has made a political master stroke that will cement his chances of electoral success and long term will benefit the economy. Finally we have recently seen even more stringent regulation of banks (including interest rates) in US, Europe etc following the 2008 bank led economic collapse. The sky has yet to fall. Get over yourselves. Please help me understand these: 1) The banks are supposed to exploit their customers and no action should be taken? Action should certainly be taken - but done in a measured and responsible way - choosing the least hurting (to the economy et al) route.2) There is competition among banks and other institutions on who is going to make abnormal profits from exploiting their customers? It's a free economy. Even Mama Mbogas prices are set by herself, but if one can still make money selling at less, then she would be pushed out through competion.3) 4% above base rate set by CBK is unrealistically low? One would need to look at all variables. I mean why hasnt anybody gone into banking to offer those kinds of interest rates and attract all the credit seekers and boom with all the volumes that are sure to follow!4) Who should be protected: the powerless consumer or the greedy investors? Cut out the prejudices first. That said, Govt should be an unbiased and responsible arbiter/regulator where is this idea of comparing banks with mama mboga (and the likes) coming from? for starters mama mboga's business is not regulated by the central bank of kenya - control and regulation should not be alien to the banks.
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Rank: Member Joined: 8/25/2015 Posts: 839 Location: Kite
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Rank: Member Joined: 10/6/2009 Posts: 587
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Can someone please tell me if we have other key players in the economy apart from the banks?
Secondly I am being told that the economy is already on its knees barely three days after the law capping interest rates was signed...does it mean all the key players in the economy are making losses?
I am a baba mboga and so far I have not noticed anything yet!
@wamunyota, please educate me on these scareconomics, otherwise, gucia ukiumaga.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,633
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FRM2011 wrote:Wamunyota wrote:freiks wrote:Banks have done their part, they have given enough bundles for their bloggers. What they don't know is that already uhunye signed the bill and what us normal wanjiku know is that soon the prices will stabilize and we will start boarding the ship again, by then uhuruto will be back at statehouse for second term and we will be enjoying quite cheaper loans This has nothing to do with the 37 bloggers.Economics should be made a compulsory subjects for all students to reduce ignorance. How soon with the prices stabilize?By elections Wanjiku will be feeling the heat and the economy will be in shambles. It would seem, there isn't a single economist or financial analyst in your local. You should know the panic inside the bank HQs. The numbers are not on their side and Uhuru knew it. Within 21 days, Equity will start paying Kes. 60Mn per day on customer deposits. At the moment they are paying Kes.16M. Their interest income reduces from 45% to 14%. And because they are not lending, they are not earning negotiation fees, which is the 2nd highest source of commissions after Forex. Bottom line, unless they change their business model, they will report a loss in Q4 down from a profit of 5bn. Uhuru has these banksters by the balls and he knows it. Don't be fooled by the bravado you see on TV. About 20 of these banks are not even sure they will survive. They are gasping for air. It's a fight for their life. Not a very menacing sight for those of us who crunch numbers. Within 90 days you will realise Uhuru's decision was pure genius. And the loss in value of bank stocks shouldn't worry you at all. The money is moving to wanjiku's pockets in reduced loan rates and higher deposit rates. And the 45% is not a typo. That is what they charge wanjiku. Have you looked at the exact wording of the Act A bank shall set "the maximum interest rate chargeable for a credit facility in Kenya at no more than four percent, the base rate set by the Central Bank of Kenya." The word "above" is missing there so grammar was a challenge to the drafter so the legal effect is that banks are to set interest at 4% of the base rate. Unless something happens to stay implementation or the base rate is set at 350 then Uhuru just sunk the entire banking industry
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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Baratang wrote:Can someone please tell me if we have other key players in the economy apart from the banks?
Secondly I am being told that the economy is already on its knees barely three days after the law capping interest rates was signed...does it mean all the key players in the economy are making losses?
I am a baba mboga and so far I have not noticed anything yet!
@wamunyota, please educate me on these scareconomics, otherwise, gucia ukiumaga.
Baba mboga may not be affected as yet but this is not very good for the economy. p Losers Stock Price % Gain KCB 27.00 -10.00 EQUITY 29.50 -9.92 I&M 87.00 -9.84 HFCK 13.95 -9.71 COOP 10.80 -9.6 Hutia Mundu!!
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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Wakanyugi wrote:Wamunyota wrote:sitaki.kujulikana wrote:I remember when Michuki reduced the sitting/standing capacity in matatus and some thought the industry would collapse because they would not make money, or wanjiku would not afford bus fare. Banking industry is not the same as matatu industry You are exactly right on this one. Money is not any product. It is the lifeblood of an economy and, like petrol, is too important to be left to the whims of so called market forces. Banks happen to be the plumbers of the economy in that they control how money flows and to whom. Unfortunately, on countless occasions and domains, they have proven themselves too greedy to perform this role without risking the patient. Hence the need for regulation. How would the economy benefit with the collapse of the banking industry?So now we are celebrating the death of Equete?Wacha ikufe tuone kwenye mama mboga atatoa pesa Hutia Mundu!!
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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FRM2011 wrote:Wamunyota wrote:freiks wrote:Banks have done their part, they have given enough bundles for their bloggers. What they don't know is that already uhunye signed the bill and what us normal wanjiku know is that soon the prices will stabilize and we will start boarding the ship again, by then uhuruto will be back at statehouse for second term and we will be enjoying quite cheaper loans This has nothing to do with the 37 bloggers.Economics should be made a compulsory subjects for all students to reduce ignorance. How soon with the prices stabilize?By elections Wanjiku will be feeling the heat and the economy will be in shambles. It would seem, there isn't a single economist or financial analyst in your local. You should know the panic inside the bank HQs. The numbers are not on their side and Uhuru knew it. Within 21 days, Equity will start paying Kes. 60Mn per day on customer deposits. At the moment they are paying Kes.16M. Their interest income reduces from 45% to 14%. And because they are not lending, they are not earning negotiation fees, which is the 2nd highest source of commissions after Forex. Bottom line, unless they change their business model, they will report a loss in Q4 down from a profit of 5bn. Uhuru has these banksters by the balls and he knows it. Don't be fooled by the bravado you see on TV. About 20 of these banks are not even sure they will survive. They are gasping for air. It's a fight for their life. Not a very menacing sight for those of us who crunch numbers. Within 90 days you will realise Uhuru's decision was pure genius. And the loss in value of bank stocks shouldn't worry you at all. The money is moving to wanjiku's pockets in reduced loan rates and higher deposit rates. And the 45% is not a typo. That is what they charge wanjiku. Is that sustainable? If that is the case the garment needs to look for money to bail out the banks just like they did for KQ & Mumias. Hutia Mundu!!
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Rank: Member Joined: 8/25/2015 Posts: 839 Location: Kite
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Wacha nicheke! uko na wateja 2 mirrion,alafu unasema ni high risk customers kwa hivyo hakuna roan kwa hii watu! haya lipa interest kwa pesa yao na ukae nayo! watakujia januale!
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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Taurrus wrote:Wacha nicheke! uko na wateja 2 mirrion,alafu unasema ni high risk customers kwa hivyo hakuna roan kwa hii watu! haya lipa interest kwa pesa yao na ukae nayo! watakujia januale! Wakenya generally ni high risk.Hawapendi kulipa madeni.As a country also we dont have proper credit rating and because we are a credit economy there is little or no credit history.How do you just give money to people who has no collateral and you dont know kama wanaintention ya kulipa. Look at how many kenyans have refused to pay their helb loans even though they have good jobs and good sources of income.The kids have to be threatened that they wont get the money until their parents start paying and they wont even do a wedding mpaka waanze kulipa.Wakenya are very poor in paying debts and the cost of looking for them and recovery is very high. Hutia Mundu!!
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Rank: Member Joined: 4/15/2009 Posts: 371
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Swenani wrote:Caveman wrote:Wamunyota wrote:Caveman wrote:Wamunyota wrote:Caveman wrote:Wakanyugi wrote:Wamunyota wrote:So in his wisdom our able president ignored expert advice in enacting the bill on capping the interest rates.He chose votes over economic stability.He did not want to start conflicts with the MPs after shadow boxing them to join the jubilee party.He chose the easy route.The more popular route.The economy is now completely f***ed.The banks have already lost 47BIRRION In their value.
The economic meltdown has started.The popularity politics he was protecting will come back to bite his ass.
His only hope is now for Raila to run for president so that they can tell us about how Raila cannot be president.
This is a big fraud.My kalocal cannot buy more stocks because the banks are no longer offering unsecured loans.He cannot but a tuktuk because the loan on motor vehicles have been freezed.
The economic credit crunch have started.The exchange rate to the dollar is going back to 115.He can as well vote for himself.
Sasa tutakura raha aje kama kakuna pesa? Wamunyota: This 'sky is falling' scare mongering is getting a little old. So bank stocks have tanked and foreign speculation capital is leaving the country, to which I say good riddance. Can you tell me exactly how this is likely affecting mama mboga? Don't confuse the whining of a long pampered elite with the majority, many of whom have no investments on the stock market and would not dream of a bank loan, even at 14%. By daring the banks Uhuru has made a political master stroke that will cement his chances of electoral success and long term will benefit the economy. Finally we have recently seen even more stringent regulation of banks (including interest rates) in US, Europe etc following the 2008 bank led economic collapse. The sky has yet to fall. Get over yourselves. Please help me understand these: 1) The banks are supposed to exploit their customers and no action should be taken? How to banks exploit their customers?We are a capitalist state.Willing buyer willing seller.2) There is competition among banks and other institutions on who is going to make abnormal profits from exploiting their customers? Define an abnormal profit.3) 4% above base rate set by CBK is unrealistically low? How did the MPs determine the 4%.Why not 5% or 3%?4) Who should be protected: the powerless consumer or the greedy investors? Everyone deserves protection from the crooked government.The so called greedy investors are employers of hundreds of kenyans and play a very important role in the economy. Clearly, I will not get help. I am just a customer. A naive customer who is believing the lies being peddled by his government for votes. True. Let me retreat back to my cave where i belong. Usiwahiiii toka kwa hio cave I should be allowed to peep, so long as I don't raise my head above the ground. Perhaps I might spot some cheap loan.
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