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Uhuru's own goal
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sitaki.kujulikana
#21 Posted : Friday, August 26, 2016 12:10:40 PM
Rank: Veteran

Joined: 8/25/2012
Posts: 1,826
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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freiks
#22 Posted : Friday, August 26, 2016 12:17:33 PM
Rank: Veteran

Joined: 6/8/2010
Posts: 1,734
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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Nandwa
#23 Posted : Friday, August 26, 2016 12:25:25 PM
Rank: Veteran

Joined: 11/17/2009
Posts: 1,049
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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Wamunyota
#24 Posted : Friday, August 26, 2016 12:34:54 PM
Rank: Veteran

Joined: 6/23/2014
Posts: 1,652
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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Wamunyota
#25 Posted : Friday, August 26, 2016 12:37:23 PM
Rank: Veteran

Joined: 6/23/2014
Posts: 1,652
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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Swenani
#26 Posted : Friday, August 26, 2016 12:42:37 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
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.Sad


Usiwahiiii toka kwa hio cave smile smile smile smile smile
If Obiero did it, Who Am I?
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Lolest!
#27 Posted : Friday, August 26, 2016 12:53:55 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Poleni Wazua Bankers Association

Multiple Threads ndio zimekuwa zenu

Inaitwa Temogracy
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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FRM2011
#28 Posted : Friday, August 26, 2016 12:57:09 PM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
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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TSi
#29 Posted : Friday, August 26, 2016 1:18:51 PM
Rank: Member

Joined: 12/27/2015
Posts: 130
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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Wakanyugi
#30 Posted : Friday, August 26, 2016 1:19:22 PM
Rank: Veteran

Joined: 7/3/2007
Posts: 1,635
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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