THE ECONOMIC VERDICT

THE ECONOMIC VERDICT.

imagzes

 

Come a new administration come a new dawn. Fallacy! Unless countless factors are kept at Constance. This one has been like those days you feel unwell but you can’t tell whats consuming you bloody well. Some thus put it ‘feeling from far’ Cock sure something is a miss!

The Treasury CS was the first to speak out. He stated categorically sneaking in figures here and there all in the plight of the state of the economy. He dint spell it out as clear as he was meant to but reading from his lips illuminated by unconvincing eyes you could tell all was not well.

The respected head of state set in with his now popularly renowned public relations gimmicks to read out loud that the country is on a firm steady growth pattern and any naysayers are just that; naysayers. Indeed he was just as sharp and articulate to sneak in figures here and there with unnecessary reference to stalled pro-government development projects as was only outlined so well in the popularized campaign manifestos in the run up to the 2013 General elections.

Final on the list of hall of fame of speakers was our self-proclaimed ‘Baba’ formally baptized as the former Prime Minister of the republic of Kenya. He spoke with depth of knowledge . Knowledge that was backed with reality. It was all in reference to the dwindling state of the economy. Like his predecessors above he succumbed to the lure to sneak in figures making overly long comparison with other African states based on economic rating closing with “Mr President , please wake up. Its work time!”

The wise say, he who laughs last laughs loudest. So am here to laugh last and perhaps louder or loudest who knows? I don’t pre-purpose to side with any of the above speakers. NO! That’s not my primary intent objective but rather to speak for and on behalf of the layman mwananchi that includes me and you. Them who do not understand the figures as well and comprehensive as the listed speakers but sit back to feel the damn pinch of an economy on a free-fall all mam.

Reading through American history, in a given electioneering period, a candidate is quoted as educating the public on economics. Lets call it Economics 101 so he went “An inflation is when you neighbor looses his job. A depression is when you lose your job and a recovery is when the President (read;Jimmy Carter) looses his job” Should I bestow the same approach here? I choose to look at the reality…

Our economic model is not as complicated as some people want to make us believe NO! it isn’t. A quick simple example is just the other day when the president declared can’t pay wont pay and the teachers in a rejoinder chorused in numbers “cant teach, wont teach!” That was it, a nationwide strike that paralysed learning on a national scale, threatening to imbalance national examinations. So what happened? Kids went back home to strain on the monthly budgets yet their guardians had parted with monies for their school upkeep which was now wasting away. Indeed teachers weren’t paid and it meant private financial services players who had loaned them had to work around sustaining huge rates of defaults rendering cash crunch in their work force and operations. This has a bottom up effect as well since established players such as banks become party to such snarl up one way or another. Down at the Village Wanjiku having out all her inventory at the kiosk on credit to the cash starved teacher had no option but to close shop faced with the looming possibility to hit the street begging! Her kids stared at the sure possibility of dropping out of school and you know what that means? Increased criminal activity thus insecurity that will not sustain a struggling economy.

The shilling has lost battle against the gigantic dollar, Tourism has recorded lowest visits ever, workers are hitting the streets in quest for better pay to sustain the ballooning cost of living. Prices of commodities have shot on a record high. Companies are downsizing on ly when they survive closure. Corruption has been devolved and scandals after scandals of public funds looting rule the air waves. Bank interest rates have almost doubled for local loans yet the same loanees have to gramble with the above scenarios! Its struggle, struggle and struggle. At the centre stage, the government continues to sit back offering unnecessary public relation gimmicks. You don’t need four-eyes. Boy this ship is sinking…

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2 thoughts on “THE ECONOMIC VERDICT

  1. The ship is sinking alright, blame it on the economic instability, or as the Treasury CS referred to it as cash crunch. But i don’t believe the country is broke. First of all the country should focus more on the currency issue. We are losing so much against the dollar. Secondly the Treasury should look into the country’s expenditure patterns. Can’t complain about the devolution system but a lot of money is being allocated to unaccountable projects. Which brings me to CS Hon. Waiguru… Okay let me just leave that there. Thirdly, the borrowing rates of the country. CBK and the Treasury can do better on this. Timing is vital.

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