home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  rich wrap-ups | **richLIVE** | richPodcasts | richRadio | richTV  | richInterviews  | richCNBC  | 
Satchu's Rich Wrap-Up
 
 
Tuesday 15th of November 2016
 
Morning
Africa

Register and its all Free.

If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke

Macro Thoughts

Home Thoughts

read more






@wikileaks founder #Assange questioned in London over rape allegations dwnews @dwnews
Law & Politics


Assange had an outsize effect on the US Election by draining and
''demotivating'' Hillary Clinton's support with his constant drip feed
of some seriously borderline behaviour at the Clinton Foundation.

read more






Why Strongmen Succeed Pankaj Mishra @BV
Law & Politics


The election of Donald Trump, whose campaign trafficked in racism and
misogyny, as the president of the United States is a calamity. But for
those who experienced in 2014 the election of Narendra Modi, proud
member of a minority-baiting alt-right organization, as India’s prime
minister, the ascent of Trump induces deja vu. And to those who have
witnessed the subsequent radical makeover of India under Modi, the
prospect of Trump assuming supreme power brings on acute foreboding.

For what is threatened now in the U.S. is not just free trade,
liberalism or a technocratic and professional class of politician
accused of being out of touch with ordinary people. It is democracy
itself -- the central project of the modern world, in which people
come together to form a political community that defines its shared
laws, ensuring dignity and equal rights for each citizen, irrespective
of ethnicity, race, religion and gender.

Anguish and despair must quickly give way to a fuller reckoning with
the deeper reasons behind Trump’s empowerment. We must ask: Where do
we stand, and where do we go from here?

Here the Indian experience can be instructive, if not uplifting. For
over a decade, Modi was on the fringes of India’s political and
intellectual life. Accused of supervising mass murder and gang rapes
in the state of Gujarat in 2002, he was blocked from traveling to the
U.S. and Europe. Journalists and pundits hailed technocrats such as
former Prime Minister Manmohan Singh, an Oxford-educated economist,
for their secular outlook as well as economic wizardry.

Modi’s moment came only when economic growth, which had been largely
jobless, began to falter. Corruption scandals exposed the liberal
technocrats as a self-aggrandizing and inept elite, and the political
party most identified with them -- the Congress Party -- was engulfed
by a devastating crisis of legitimacy.

The stage was then set for Modi to rise. And so he did, eerily
anticipating Trump with the accusation that his country was run by a
foreigner (the Italian-born Congress leader Sonia Gandhi) and
traitorous liberals, and overrun by Muslims and immigrants. To
complete the analogy with Trump, Modi also boasted about the size of a
male body part -- his chest -- while promising to make his country
great again.

Modi’s electoral base was among Indians who felt cheated out of nearly
double-digit but unevenly distributed growth. He managed to persuade
them that the choicest fruits in India were being stolen by an
arrogant and deceptive elite that promised meritocracy but perpetuated
dynastic rule.

As Tocqueville pointed out long ago, people in the democratic age
“have an ardent, insatiable, eternal, invincible passion” for
equality, and “will tolerate poverty, enslavement, barbarism, but they
will not tolerate aristocracy.” And so in the eyes of the aggrieved,
the commonplace liberal accusation against Modi -- that he was
menacingly authoritarian -- turned into an asset.

Two years of Modi in power have confirmed that he is a demagogue of a
particular kind: one that has periodically emerged, since the 19th
century, from a radically disillusioning experience of liberal
democracy, from the latter’s failure to confer dignified citizenship
or distribute equitably the benefits of economic growth.

It is now Trump’s turn to benefit from this angry disillusionment with
oligarchic dynasts. His advent, astoundingly simultaneous with that of
other demagogues, confirms that the U.S. has reentered the history of
the modern world after its long 20th century exemption from the
extensive political chaos that almost all other countries suffered.
What happens next depends greatly on how America’s democratic
institutions respond to Trump. And, here, India’s example is severely
discouraging.

Hindu nationalists are colonizing state and society in India with
contemptuous ease, staffing political and cultural institutions with
loyalists. “Hinduize all politics and militarize Hindudom,” V.D.
Savarkar, the chief ideologue of Hindu supremacism and Modi’s hero,
once exhorted. This old fantasy of upper-caste Hindus is now finally
being realized under the leader with a 56-inch wide chest. Clamoring
for retributive violence against Kashmiri Muslims and Pakistan, the
media is “falling like nine pins,” as former Finance Minister P.
Chidambaram said last month.

In many ways, the electoral apotheosis of a Hindu supremacist in 2014
has proven to be less shocking than the zeal of many affluent Indians,
including former fans of the uber-technocrat Manmohan Singh, to rally
to his side. Tocqueville may have been right to say that a “taste for
well-being easily comes to terms with any government that allows it to
find satisfaction.” In the U.S., much hope rests with those who refuse
a similarly craven accommodation with a white supremacist.

read more



14-NOV-2016 :: Here comes President Trump @TheStarKenya
Law & Politics


Donald Trump won the US election all ends up and for the first time
since 1928 won the Presidential vote, the Senate, the House and will
decide the Supreme Court's composition. It is a breath-taking win
especially when you consider that Trump was an insurgent candidate and
his Make America Great Again movement similarly an insurgent movement.

Trump confounded the pollsters and the traditional media echo chamber
and was ranked a rank outsider at 4-1 in a two horse race just a few
short hours before the final result was known. The result in the US
mimicked the Brexit result and what is clear to me is that we are
watching a populist wave or zeitgeist (some have characterised it as a
''whitelash'') which has now swept the United Kingdom and the US and
has Italy (where Matteo Renzi has called for a Referendum), France
(where Marine Le Pen is the most popular politician by a street) and
the Netherlands all in its crosshairs.

Comic-turned-politician Beppe Grillo, co-founder of Five Star, said

“This is the deflagration of an epoch. It’s the apocalypse of this
information system, of the TVs, of the big newspapers, of the
intellectuals, of the journalists.”

And this is another important point, traditional media has lost its
position of control. It’s been upended by the internet which allowed
insurgent politics to broadcast over the top.

Returning to President-elect Trump who deployed linguistic warfare
with devastating effect. The names he gave his opponents — Crooked
Hillary, Lyin’ Ted, Little Marco, ‘Low-energy’ Jeb — were devastating.

The open question now is how many of his campaign promises will he
fulfill and which ones because on a continuum they are some serious
outlier promises. The US Stock market slumped by its biggest single
percentage drop in the pre-market on Wednesday before taking back the
entire precipitous fall and closing at a fresh all time high by the
end of the day. The catalyst for that spectacular recovery was Trump's
victory speech which many took to signal a pivot. The speech was
conciliatory and the flavour was captured in comments Trump made when
he met with President Obama

US President-elect Donald Trump has said it was a "great honour" to
meet President Barack Obama for transition talks at the White House.

Mr Obama said he was "encouraged" by their "excellent" and
"wide-ranging" conversation, lasting over an hour.

Ian Bremmer of Eurasia Group opined that the Trump victory was "the
most profound domestic political transition of my lifetime."

“There are three aspects of American leadership that will be affected
by the Trump administration and the growing geopolitical recession:
the United States' role as world policeman, architect of global trade,
and cheerleader of global values.”

I am a Seller of Ian Bremmer's rather hyperbolic critique. Putting a
Stop-Loss into play with the Syrian rebels (who are a bunch of
ne'er-do-wells and paid mercenaries), reaching out to Vladimir Putin
indicate a trend-change in the way the US engages with the rest of the
World strikes me as an entirely sensible mid course correction. As
Trump has indicated China is the main adversary and its difficult to
understand why the US was seeking to send Vladimir into Xi Jinping's
ready embrace. To triangulate China, the US needs Russia on its side
and not on China's. Therefore, I see Trump playing a Ronald Reagan
Game.

From an economic and trade perspective, I expect Trump to be much more
aggressive with China. I think the QE [Quantitative Easing] consensus
is now a busted Flush. Remember a vast swathe of the pro-Brexit and
pro-Trump camps were the older white folks who have seen their savings
evaporate in the world of negative interest rates. This is the point.
They want a return on their savings and Theresa May and Trump get
that. The bond markets get it as well.

The US 30- year yield surged 32 basis points higher last week which is
the biggest weekly rise in seven years. There is more to come as the
cost of money is normalised. I like the tax cutting agenda. My theory
remains (and interestingly was validated a few years ago in Russia)
that when you reduce taxes to a level that folks feel is just and
equitable, The tax take surges because its just more convenient to pay
it. The infrastructure spend is long overdue. Higher interest rates
are going to propel a big Dollar rally from here on in and its only
just getting going. Emerging markets currencies which took a big
tumble last week are set to crater, I am afraid.

Let me leave with you a Transcript from the Sidney Lumet movie Network (1976)

''You think you merely stopped a business deal. That is not the case.
The Arabs have taken billions of dollars out of this country, and now
they must put it back! It is ebb and flow, tide and gravity. It is
ecological balance'' Sidney Lumet Network 1976.

read more


Putin, Trump Discussed Ways to Normalize U.S.-Russia Relations
Law & Politics


Russian President Vladimir Putin spoke with U.S. President-elect
Donald Trump to congratulate him and discuss possibilities for
improving relations in the future, according to the Kremlin.

“During the conversation, Putin and Trump not only acknowledged
current U.S.-Russia relations as highly unsatisfactory, but also
called for joint work to normalize ties towards constructive
cooperation on a wide range of issues,” the Kremlin said in a
statement. “Pragmatic, mutually beneficial co-operation” between the
two countries would be of interest to the world’s security.

Trump and Putin agreed on joining efforts to fight international
terrorism and discussed peacemaking in Syria, according to the
statement. Both leaders agreed that boosting mutual economic trade is
important for bilateral ties.

read more


14-NOV-2016 :: reaching out to Vladimir Putin indicates a trend-change @TheStarKenya
Law & Politics


Putting a Stop-Loss into play with the Syrian rebels (who are a bunch
of ne'er-do-wells and paid mercenaries), reaching out to Vladimir
Putin indicate a trend-change in the way the US engages with the rest
of the World strikes me as an entirely sensible mid course correction.
As Trump has indicated China is the main adversary and its difficult
to understand why the US was seeking to send Vladimir into Xi
Jinping's ready embrace. To triangulate China, the US needs Russia on
its side and not on China's. Therefore, I see Trump playing a Ronald
Reagan Game.

read more




14-NOV-2016 we are watching a populist wave or zeitgeist
International Trade


we are watching a populist wave or zeitgeist (some have characterised
it as a ''whitelash'') which has now swept the United Kingdom and the
US and has Italy (where Matteo Renzi has called for a Referendum),
France (where Marine Le Pen is the most popular politician by a
street) and the Netherlands all in its crosshairs.

read more


Currency Markets at a Glance WSJ
World Currencies


Euro 1.0748
Dollar Index 99.88
Japan Yen 108.20
Swiss Franc 0.9970
Pound 1.2475
Aussie 0.7545
India Rupee 67.705
South Korea Won 1169.60
Brazil Real 3.4372
Egypt Pound 15.5010
South Africa Rand 14.2884

read more


14-NOV-2016 Higher interest rates are going to propel a big Dollar rally from here on in and its only just getting going
World Currencies


The US 30- year yield surged 32 basis points higher last week which is
the biggest weekly rise in seven years. There is more to come as the
cost of money is normalised. I like the tax cutting agenda. My theory
remains (and interestingly was validated a few years ago in Russia)
that when you reduce taxes to a level that folks feel is just and
equitable, The tax take surges because its just more convenient to pay
it. The infrastructure spend is long overdue. Higher interest rates
are going to propel a big Dollar rally from here on in and its only
just getting going. Emerging markets currencies which took a big
tumble last week are set to crater, I am afraid.

read more



















May 2015 ''The revolutionary contingent attains its ideal form not in the place of production, but in the street''
Africa


PAUL Virilio (born 1932) is a French cultural theorist and urbanist.

In his book ‘Speed and Politics’ he says: “The revolutionary
contingent attains its ideal form not in the place of production, but
in the street, where for a moment it stops being a cog in the
technical machine and itself becomes a motor (machine of attack),
becomes in other words a producer of speed.’’

As we look around the world today, we can see a battle for the
‘street’ from the streets of Bujumbura to the streets of Baltimore. In
November last year, I wrote about Ouagadougou’s signal to sub-Saharan
Africa and concluded that: We need to ask ourselves how many people
can incumbent shoot stone cold dead in such a situation – 100, 1000,
10000?

This is another point: there is a threshold beyond which the incumbent
cannot go. Where that threshold lies will be discov- ered in the
throes of the event.

Therefore, the preeminent point to note is that protests in Burkina
Faso achieved escape velocity.

read more


South Africa's Malema tells backers to seize white-owned land, defying court
Africa


Malema addressed cheering members of his ultra-left Economic Freedom
Fighters (EFF) party near the courtroom in Bloemfontein, after a judge
adjourned the politically charged hearing.

"When we leave here, you will see any beautiful piece of land, you
like it, occupy it, it belongs to you... It is the land that was taken
from us by white people by force through genocide," he said.

read more



South Africa's rand slumped for a fourth day, falling to a 10-week low against the dollar
Africa


The currency fell as much as 1.3 percent before paring the decline to
trade 0.7 percent lower at 14.4410 per dollar by 1:50 p.m. in
Johannesburg, heading for the weakest closing level since Sept. 2.
Yields on benchmark government bonds due 2026 climbed 8 basis points
to 9.26 percent, the highest in more than five months. The yield on
the country’s 10-year dollar bonds jumped 17 basis points to 5.06
percent, the highest since March.

read more


Dollar versus Rand 6 Month Chart INO 14.2884
Africa


Egypt EGX30 Bloomberg +52.65% 2016

http://www.bloomberg.com/quote/CASE:IND

Nigeria All Share Bloomberg -9.27% 2016

http://www.bloomberg.com/quote/NGSEINDX:IND

Ghana Stock Exchange Composite Index Bloomberg -15.97% 2016

http://www.bloomberg.com/quote/GGSECI:IND

read more


South Sudan Finds Burnt, Handcuffed Bodies in Equatoria Region
Africa


South Sudan authorities in Yei River State found the burnt bodies of
six people in a grass-thatched hut and another five with bullet wounds
and hands tied behind their backs outside the structure.

“This is a deserted location and they were tied first and shot before
the six taken to the house for burning,” State Minister of Local
Government and Law Enforcement Agency Anthanasio Yungule said by phone
on Sunday. “It is a really shocking incident of murder.”

South Sudan, the world’s newest country, descended into a civil war in
December 2013, claiming tens of thousands of lives and forcing more
than a million to flee to neighboring nations. Civilians in the East
African nation are being targeted along ethnic lines and there’s a
strong risk of genocide if the violence escalates, the United Nations
special adviser on prevention of genocide, Adama Dieng, said Nov. 11.

read more


Africa Good Life Index: Why understanding more than GDP is important KPMG
Africa


Gross domestic product (GDP) and gross national product (GNP) are
widely used to indicate the difference between poor and rich
countries. However, GDP and GNP do not distinguish between activities
that increase a nation’s wealth and deplete the natural resources.
While there is a significant correlation between well-being and GDP,
citizens’ quality of life is not merely a simple function of wealth. A
number of things influences a person’s wellness including their
surroundings, living conditions, political conditions and environment.
It is valuable to take as many of these external influences into
account to get a more balanced reflection of the overall quality than
life, based on more than GDP.

read more


Businesses cut credit uptake as rate cap uncertainty bites
Kenyan Economy


Credit Growth at +5.4% in August

Conclusions

Might well be negative at Year End.

read more


Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg -4.34% 2016

http://www.BLOOMBERG.COM/quote/NSEASI:IND

Nairobi ^NSE20 Bloomberg -19.11% 2016

http://j.mp/ajuMHJ

3,268.41 +4.15 +0.13%

Every Listed Share can be interrogated here

http://www.rich.co.ke/rcdata/nsestocks.php

read more



THE LUNATIC EXPRESS When he took the Nairobi-Mombasa train, Daniel Knowles saw a side of Kenya that is disappearing - which, in some ways, is just as well
Kenyan Economy


t is 3am in Nairobi’s central railway station and the staff on the
night train to Mombasa are beginning to serve dinner. Why this is
appropriate is unclear, but the train was due to leave seven hours ago
and the staff seem determined to pretend it is on schedule. So, packed
into the red-leather-lined first-class dining car, its ancient
bakelite fans hanging idle from the ceiling, a battered photo of
Kenya’s president, Uhuru Kenyatta, beaming down on us, my travel
companion and I pick at the early breakfast of beef stew, boiled
greens and rice. It is all served on plates embossed with the logo of
the East African Railways and Harbours Corporation, which was wound up
in 1977.

From the moment I arrived in Kenya, I wanted to travel on the “Lunatic
Express”, as the Nairobi to Mombasa railway is known. I love railways.
Not as a trainspotter: I can hardly tell one locomotive from another.
But railways open countries up in a way planes and buses can’t. I’ve
travelled on old railways in Egypt, Morocco and Vietnam; in Burma, I
convinced a girlfriend to share a second-class bench with me over the
Gokteik viaduct, a single-span steel bridge across a vast gorge,
allowing passengers to lean out of the window and look down into the
abyss. None of this, however, prepared me for the old Uganda railway.

We sat in the station bar drinking Tusker beers under a neon sign, and
if you ignored the inexplicable pile of broken bathroom fittings it
was almost romantic. In a city where almost everything is new, from
the flash shopping malls to the luxury apartments and executive
mansions sprouting out of every hill, anything old has a particular
charm.

The history of modern Kenya starts with the railway. Sir Charles
Eliot, the commissioner of British East Africa who presided over its
construction, proclaimed after the task was completed that: “It is not
uncommon for a country to create a railway, but it is uncommon for a
railway to create a country.” He was pompous but he wasn’t wrong.
Without the train, Kenya – a colonial confection that brought together
dozens of tribes in a territory drawn with a ruler on a map – would
not have come into existence. Nairobi, a city which a century ago was
little more than a few streets built around the station, would never
have turned into much more than that.

A lot of Kenyans are excited by the new line, which is to be President
Kenyatta’s crowning achievement, but the workers on the old train are
not among them. “We do not think of it,” said Douglas, as he took away
the bedding from the bunks in the late afternoon. “For us, this is the
train.” Certainly, the new railway will run differently – unlike the
old one, it ought to be able to get from Nairobi to Mombasa in just
three or four hours, enough to make several trips a day. But it is
reasonable for people who work on the old railway to fear the new one;
the jobs on it may be fewer, and they may require skills that the
current staff do not possess.

The new railway will be more expensive than the old one, but it may at
least work. As our train neared Mombasa, it stopped about ten miles
outside the city for several hours. Our sweltering compartment was
filled with tinny music from a nearby bar. Mosquitoes buzzed through
the open windows. Douglas was optimistic about our progress, but we
stopped repeatedly, and the final few miles took almost two hours. The
other passengers sat and looked out of the window. I curled up reading
a book, quietly swearing every time we stopped. We arrived, finally,
24 hours after boarding.

An executive from a big hotel I met shortly after our trip told me
that his firm has developed a plan to reboot the old railway as an
“African Orient Express”. Customers would start at his hotel and,
after a tour of historical Nairobi, they would be dispatched
overnight. “They would wake up for a glorious breakfast in Tsavo and
go for a safari, then to Mombasa, then back on a first-class flight.”
I’m sure they would have a great experience, but I doubt it would be
as memorable as our journey through the heart of old Kenya

conclusions


I used to take the Train when I used to come from Mombasa to Kenton in
Nairobi. It was a bitter-sweet ride. I would be so excited to be on
the Train and then the weather would get colder I would realise I was
far from home and for a while. The smells are very memorable.

read more





 
 
by Aly Khan Satchu (www.rich.co.ke)
 
 
Login / Register
 

 
 
Forgot your password? Register Now
 
 
November 2016
 
 
 
 
 
COMMENTS

 
In order to post a comment we require you to be logged in after registering with us and create an online profile.