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Satchu's Rich Wrap-Up
Tuesday 23rd of July 2019

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Macro Thoughts

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22-JUL-2019 :: The Showdown. @TheStarKenya
Law & Politics

President Trump is a unique Political Phenomenon otherwise he would
not have parlayed his way to the White House. Trump has already
established his credentials as a linguistic warfare specialist. Look
at the names he gave his opponents: Crooked Hillary, Lyin’ Ted, Little
Marco, ‘Low-energy’ Jeb — which were devastating and terminal. His
Linguistics actually derive from the World of Wrestling and Between
1988 and 2013, he ran wrestling events, appeared ringside (notably in
the Battle of the Billionaires), and was even inducted into the World
Wrestling Entertainment Hall of Fame. Despite being presented as a
competitive sport, professional wrestling is scripted. The
competitors, results, pre-match and post-match interviews — all of it
is make-believe. The broadcasters give their audience all the things
you’d expect in a work of fiction: backstory, suspense, symbolism and
so forth. [Financial Times' Stephen Grosz]

In wrestling, as in literature, names are never neutral. Naming a
character is an essential part of creating them. There’s always a
“face” (short for babyface, or hero) and a “heel” (villain). Hulk
Hogan and Dwayne “The Rock” Johnson are faces. Jake “The Snake”
Roberts and Rick Rude are heels. Wrestling pits good against bad, a
genuine he-man against a phoney rascal. To emasculate his opponents,
Trump uses this trope: “Low Energy Jeb”, “Mr Magoo” (Jeff Sessions)
“Lyin’ James” (Comey), “Rat” (Michael Cohen), “Highly Conflicted Bob
Mueller”. As part of his two-fisted swagger, Trump tweets in
wrestling-speak: “Lightweight Marco Rubio was working hard last night.
The problem is, he is a choker, and once a choker, always a choker!
Mr. Meltdown.

The President last week expanded his linguistic warfare repertoire
last week to embrace a [prima facie] racist trope, he said;

In America, if you hate our Country, you are free to leave. The simple
fact of the matter is, the four Congresswomen think that America is
wicked in its origins, they think that America is even more wicked
now, that we are all racist and evil.

He picked on 4 Ladies of colour  AOC, Tlaib, Omar & Pressley. His use
of the word ''wicked'' was a ''Blinder'' because who can forget the
Wizard of Oz and the Wicked Witch of the West. Paul Virilio said

''Images contaminate us like a virus.''

What is clear is that he has characterised the 4 Ladies as 4 Wicked
Witches of the West.

The Ladies turned apoplectic.

Set aside the Right and wrong because what is right and what is wrong
is no longer moving the political Needle. The Linguistic warfare
specialist has laid a Trap & Team @AOC and @IlhanMN et al are exactly
where he wants them Rabbits caught in the headlights and not
sufficiently situationally aware. He has made them the Face of the
Democratic Party. And they are so ''drunk'' they don't even understand
what he has done. He has relegated Speaker Pelosi to a mere Footnote
and he is going to fight his re-election against them.

"What the president has done is politically brilliant. Pelosi was
trying to marginalize these folks and the president has now identified
the entire party with them." @jaketapper

Sure its open racism but if he gets 2/3 of the white vote he gets
re-elected [RenCapman]

There is a reason Trump twits:it gives  him Pavlovian control over the
narrative. And now he is trying to release  A$AP Rocky

President Trump: "I personally don’t know A$AP Rocky but I can tell
you he has tremendous support from the African American community in
this country. When I say African American, I think I can really say
from everybody in this country n/c we’re all one."

The President is a political Genius and the 4 Wicked Witches see their
role as wearing their moral compass on their sleeve. Its Game Over.

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it's hard to overemphasise how damaging 'Triads attack people in a crowded shopping centre and the police do nothing' can be to HK's international reputation.@Birdyword
Law & Politics

While what happened in Yuen Long overnight isn't representative of HK
as a whole, it's hard to overemphasise how damaging 'Triads attack
people in a crowded shopping centre and the police do nothing' can be
to HK's international reputation.

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1188
Dollar Index 97.454
Japan Yen 108.12
Swiss Franc 0.9845
Pound 1.2432
Aussie 0.7024
India Rupee 68.972
South Korea Won 1179.08
Brazil Real 3.7413
Egypt Pound 16.662
South Africa Rand 13.9046

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Traders price in a 35% chance of rate cut at #ECB's meet on Thurs. @Schuldensuehner
World Currencies

Most analysts, however, expect ECB to hold fire this week to see
extent of a predicted Fed cut next week & whether data recovers.
Commerzbank sees scope for ECB to go ‘big’ to preempt Fed

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A power outage and mobile money blackout expose the vulnerability of Zimbabwe's economy @qzafrica

On Saturday morning (Jul. 20) local time Zimbabweans experienced a
system blackout on Econet Wireless, the country’s biggest telecoms
operator after a significant power outage.
Econet says the network challenges were caused by a fault that started
when generators at its operations centre failed to kick in after a
Zimbabwe Electricity Supply Authority (Zesa) power outage.
But a power cut to Econet’s servers is no mere outage. It is
effectively a major disruption to an already troubled economy
teetering on the edge as it means 70% of Zimbabweans had no phones,
internet and crucially EcoCash mobile money services.
Zesa has recently introduced an 18-hour load shedding schedule in most
parts of the country because Zimbabwe relies on hydroelectric power
from Lake Kariba along the border with Zambia where ongoing drought
means water levels have dropped so low it’s forcing reduced
electricity production.
In addition, Zesa owes over $50 million to Eskom in South Africa where
it also get some of its electricity and the Zimbabwean government has
repeatedly stated it doesn’t have enough foreign currency to settle
the debt.
Economists see this as a huge blow to the economy as large chunks of
the country’s economy runs through runs through electronic systems and
mobile money dominated by EcoCash with 95% market share. It’s
estimated around 5 million transactions a day more more than $200

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Zimbabwe increases fuel prices again, but pumps remain dry @ReutersAfrica

 Zimbabwe hiked fuel prices on Monday for the second time in a week
but most pumps remained dry, with no end in sight to shortages that
are helping drive inflation rapidly higher and which have led to
protests about the cost of living.
The Zimbabwe Energy Regulatory Authority said a litre of petrol would
now cost 7.45 Zimbabwe dollars, up 22% from 6.10 dollars. Diesel now
costs 7.19 a litre, a 23% rise.
With inflation soaring, economic analysts say increases in fuel prices
are adding to price pressures, especially as rolling electricity cuts
are forcing businesses to use expensive diesel generators to power
their operations.
Diesel and petrol prices have gone up by 456% this year, in line with
a slide in the value of the local RTGS currency, renamed the Zimbabwe
dollar last month.
The biggest fuel price hike in January, a 150% increase, triggered
violent protests by Zimbabweans. More than a dozen people were killed
when the army clamped down on the unrest.

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South Africa All Share Bloomberg


Dollar versus Rand 6 Month Chart INO 13.9046 [ZAR is a Trading short]

Egypt Pound versus The Dollar 3 Month Chart INO 16.62


Egypt EGX30 Bloomberg YTD  +4.98%


Nigeria All Share Bloomberg YTD -10.45%


Ghana Stock Exchange Composite Index Bloomberg YTD -7.49%


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Kenya Shilling versus The Dollar Live ForexPros 103.70
Kenyan Economy

Nairobi All Share Bloomberg 103.70   -+5.42%


Nairobi ^NSE20 Bloomberg   -5.59%


Every Listed Share can be interrogated here


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by Aly Khan Satchu (www.rich.co.ke)
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July 2019

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