Wororo wrote:obiero wrote:Wororo wrote:wukan wrote:lochaz-index wrote:This doesn't look good for all EMs/FMs without exception. Hold on to your hats this could be a blowout.
Quote:The MSCI EM index of currencies is down 2.2 percent for August as of 10:18 a.m. in London, poised for a fifth monthly loss, the longest stretch since September 2015. South Africa’s rand headed for its worst August on record, while the lira rebounded on Friday after Turkey raised taxes on dollar deposits. In Asia, the Indonesian rupiah slid to its lowest since 1998, while the Indian rupee was set for its biggest monthly drop in three years and a fresh record low.
Looks like risk off season is here and this could evolve into a particularly nasty contagion given QE's largesse over the last decade.
Particularly disconcerting is that this isn't emanating from USD strength but rather from capital flight. Heck the blood bath from the EM/FM sell off is impacting on AMs specifically, Italy. Yields be spiking despite local banks buying out foreign investor bond sales to create bids. With the ECB set to end their QE one can only imagine how bad it will look next year.
ION Zambia and Kenya are the poorest performers in the eurobond market YTD. I expect sustained on KES and continued sell off at the NSE as investors scamper off. Just like in the stock market, when the music stops it is the weak economies (joyriders punching above their weight) that get culled first.
https://www.bloomberg.co...p;utm_campaign=whatsapp When I see wazuans cheering Mps for saving them from the VAT on fuel and rate caps, I just keep quiet. The hard landing will be nasty
Very true...
But on the bright side, the recession will make Kenyans realize that politically we are over-represented...
The legislative and the county membership ought to be trimmed down significantly...
That includes the number of counties too...
Alot will be required to be done to bounce back even better...
Devolution is God's gift to Kenya.. Which County would you want to scrap?
@Obiero, didn't imply scrapping off devolution/counties per se but instead, merging counties to reduce the running/administtation costs ... Plus improving the realization, agility and sustainability of various projects which ideally with the current high fragmentation requires several adjacent and regional counties to simultaneously come together to execute the same...
Devolution has indeed been a blessing to all Kenyans be it directly or indirectly...
Devolution is wonderful, I like to see governors running around whipping their people to be more productive and more civil(Civic enlightenment) and it is unprecedented.
I want to see who is that dimwit who will be willing to raise up in arms to machete a neighbour because of national politics any more. That alone brings undocumented social cohesion in our nation than never before.
If a county is blessed with vast land as is the case with lift valley, you only chase your workers(ukuyus) from your farms if you are a harder working donkey and can consume your maindi(maize) inhouse. So is mumias sugar belt, you throw stones, the backs that are holding the floodgates from comesa sugar and Brazil breaks. It's I need u, u need me situation, for a while as you reorganise your house, soon it will be United States of kenya, and the marriage will be rewritten as partners in trade and survival crime.
Sonko wa nai wacha aendeleze ujeuri, soon na hata ajui tatu city and konza city are not nairobi city, turkana and isiolo, Mombasa and Amerucan city are on the draft stage. Afterall taking a breath in our current cities u need have a NASA grade gas mask if at all u care for your health.
Am never more determined to make it while in Kenia like now. Excuse me, thimiti imekwama thitoo na Kokoto aitembei😂😂😂😂
,Behold, a sower went forth to sow;....