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Satchu's Rich Wrap-Up
Sunday 06th of September 2020
A desert bloom is a climatic phenomenon that occurs in various deserts around the world.
Food, Climate & Agriculture

The phenomenon consists of the blossoming of a wide variety of flowers during early-mid spring in years when rainfall is unusually high. 

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Erzulie Fréda Dahomey is the Haitian African spirit of love, beauty, jewellery, dancing, luxury, & flowers. During ritual possession, she may enter the body of men or women. (By André Pierre, 1914-2005) @WhoresofYore

Erzulie Fréda Dahomey is the Haitian African spirit of love, beauty, jewellery, dancing, luxury, & flowers. During ritual possession, she may enter the body of men or women. She enjoys flirtation & seduces without distinguishing between sexes.

(By André Pierre, 1914-2005)

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Law & Politics

12 करोड़ रोज़गार गायब

 5 ट्रिलियन डॉलर अर्थव्यवस्था गायब

 आम नागरिक की आमदनी गायब

 देश की खुशहाली और सुरक्षा गायब

 सवाल पूछो तो जवाब गायब।


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Global cases up; R~1.05. Indecisive log-log; remorseless underlying trend. #COVID19 @video4me

India³ rose 87,115 today. China³⁸ all time total is 85,102.

>25%: BVI¹⁹⁵

>10%: Botwsana¹⁴⁴ French Polynesia¹⁶⁸

>5%: Hungary¹⁰¹ Myanmar¹⁵⁹ Lesotho¹⁶¹

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China tries to flip the pandemic script, starring a 'reborn' Wuhan @AFP @YahooNews

China is recasting Wuhan as a heroic coronavirus victim and trying to throw doubt on the pandemic's origin story as it aims to seize the narrative at a time of growing global distrust of Beijing.The PR blitz plays out daily in comments by Chinese officials and lavish state media coverage of a "reborn" Wuhan that trumpets China's epidemic-control efforts and economic recovery while the United States struggles.The drive peaked in the past week as Chinese primary schools welcomed back students with considerable fanfare and Wuhan hosted executives from dozens of multinationals, from Panasonic to Dow and Nokia, on a highly choreographed tour of the central Chinese city."There are few places in the world today where you don't need a mask and can gather," a Chinese official, Lin Songtian, told the executives, implying that Wuhan was one of those places."This testifies to Wuhan's triumph over the virus and that (the city) is back in business."Lost in this retelling, however, is that a wet market in Wuhan is widely believed to be ground zero for the pandemic.China's foreign minister suggested on August 28 during a European outreach trip that the virus might not have emerged in China.The drive indicates China recognises Covid-19's damage to its brand and wants to leverage its relatively successful recovery to counter growing international challenges, analysts said.China faces foreign bitterness over the virus and an initial cover-up attempt by Wuhan officials, plus criticism of Beijing's tightening grip on Hong Kong and generally more aggressive international posture."Beijing wants the narrative to be: we handled it, we can help you handle it and (hopefully) we're the first to have a vaccine that works," said Kelsey Broderick, Asia analyst with Eurasia Group."That's really the only way China can come out ahead of the idea that a wet market in Wuhan started this crisis.""The economy has really declined. The benefit of even coming to work is questionable," said Yi Xinhua, 51, who sells tofu from her stall at a Wuhan wet market.

Blocks of tofu were neatly arranged by shape and size, but there few buyers -- Yi says her sales are only half of the pre-pandemic level.It's a common complaint in Wuhan, blamed by many business owners on lingering fear of going out in public and the widely expressed belief that millions who fled the city early in the pandemic have still not returned.

Wuhan employers complain online that the exodus has also reduced the local labour pool.

And memories of a subsequent virus cluster in May, which triggered a citywide effort to test millions, remain fresh.

"Everyone is afraid the epidemic will return, you know? The summer is over, and winter is coming," said Yi.

"We've recovered a bit. But if the virus comes back, we'll be hit again."


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$EURUSD 4hr Chart: Just a question. What part of this chart says, the trend is down? I see higher-highs and lower-lows and no break in the upward moving trend (not on the 1hr, the 4hr, the daily or even the wkly).@FXPIPTITAN
World Currencies

$EURUSD 4hr Chart: Just a question. What part of this chart says, the trend is down? Did the NFP numbers change the trend? I see higher-highs and lower-lows and no break in the upward moving trend (not on the 1hr, the 4hr, the daily or even the wkly).


I agree with @FXPIPTITAN

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China: Recovery remains "spotty and unbalanced" according to S&P @dlacalle_IA

Five months after COVID-19 cases peaked, retail sales are still below last year. Until COVID-19, monthly retail sales had been growing at close to 8%, year on year.

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Reed Hastings: ‘ @netflix is still in challenger status’ @FT
Information & Communication Technology

Reed Hastings is the billionaire founder of Netflix, the crusher of Blockbuster, and the one who turned Hollywood upside down with streaming tech 

Netflix launched 1997 a service offering DVD hire by post, aiming to bring internet savvy to the ever-frustrating, damn-the-late-fees world of video rental. 

“Covid could have been an internet virus taking down all the routers of the world and our business would be out and restaurants would be in,” 

“And instead tragically it is a biological one, so everybody is locked up and we had the greatest growth in the first half of this year that we ever had.” With a market capitalisation of around $230bn, it has been vying with Walt Disney since March $NFLX

“If you just say no rules, then it is kind of anarchy,” he replies. “The question is, can you manage through values and context, so everyone is doing the right thing without central co-ordination? It’s the jazz metaphor versus the orchestra.”

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SEP-2019 a ‘’conviction’’ Buy at Friday’s closing price of $270.75. $NFLX
World Of Finance

“People went from broad to narrow,” he said, “and we think they will continue to go that way—spend more and more time in the niches— because now the distribution landscape allows for more narrowness’’

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I thoroughly enjoyed @dan_ammann's The King of Oil: The Secret Lives of Marc Rich
Minerals, Oil & Energy

The Spot oil Market was surely one of the most lucrative ideas of the c20th.

they invented the Spot Market 

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A desert oil pipeline that Israel once operated as a secret joint venture with Iran could be a major beneficiary from the Trump-brokered peace deal with the United Arab Emirates.
Minerals, Oil & Energy

Just over 60 years ago when it was built, the Eilat-Ashkelon pipeline was a massive national construction project aimed at guaranteeing Israel’s and Europe’s energy supplies in the wake of the 1956 Suez crisis. Egyptian President Gamal Abdel Nasser had restricted shipping through the canal, triggering an invasion by Israeli, British, and French forces. Subsequent efforts by Egypt to block the 120-mile artificial waterway also played a role in Israeli-Arab wars in 1967 and 1973.

Most of the oil flowing through the pipeline came from Iran, which had close but discreet relations with Israel for decades under Shah Mohammad Reza Pahlavi. In 1968, the Israeli and Iranian governments registered what was then called the Eilat-Ashkelon Pipeline Co. as a 50-50 joint venture to manage the export of Iranian crude through Israeli territory and onward by tanker to Europe.

Much of the early oil flow appears to have been brokered by billionaire commodities trader Marc Rich, who was later indicted in the United States for continuing to trade with Iran after the 1979 Islamic revolution, when it was declared an enemy state. Rich was pardoned in 2001 by former U.S. President Bill Clinton, who said he was moved in part by appeals from Israeli leaders and intelligence chiefs. 

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Citigroup Projects 65% Lebanon Haircut in Favorable Scenario
Emerging Markets

Lebanon may write off two-thirds of its Eurobonds, and a fifth of the local debt, once it overcomes political differences hindering an economic overhaul, Citigroup Inc. says.

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The hero of Hotel Rwanda is behind bars @thecontinent_

As violence unfolded around him, Rusesabagina used his position to shelter more than a thousand Tutsi civilians in the hotel movie turned Rusesabagina into the most famous Rwandan outside of Rwanda 

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Central to Rusesabagina’s grievances is the Rwandan government’s failure to account for its own atrocities: the massacres committed by Kagame’s rebel troops as they swept in to end the genocide; @thecontinent_ @simonallison

A 2018 video clip that is being circulated widely by Rwandan government supporters on social media: “I plead that our youth ... launches against the Kagame army in order to free the Rwandan people.” 

Rusesabagina has not been home in years. They believe that he was kidnapped from Dubai in the United Arab Emirates, and illegally renditioned to Rwanda.

message to opponents of Kagame’s regime cannot be any clearer, dissent will not be tolerated. Fame will not protect you. Distance will not protect you. And, with the rest of the world consumed by their own problems, few will speak out in your defence. 

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02-MAR-2020 :: The #COVID19 and SSA and the R Word

The official exchange rate is 165 South Sudanese pounds to $1, but on the black market it can be as high as 400 South Sudanese pounds. 

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.@benbernanke once said People hold gold "As protection against what we call tail risks: really, really bad outcomes"
World Of Finance

I am increasingly of the View that we are just at the start of the negative interest rate cycle. 

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The sun rises over Lake Malawi, shared between Malawi, Tanzania and Mozambique, as fishermen return after a night of hard work. @nytimes

But Malawi — roughly the size of Pennsylvania — has plenty of natural beauty of its own: the clear waters of Lake Malawi (close to 365 miles long and 52 miles wide, it’s sometimes called the “Calendar Lake”); the magnificent cliffs of Mount Mulanje; the unique highland plateau of Nyika; and its wildlife reserves, including Liwonde and Majete, where cheetahs, lions, elephants and rhinos have been reintroduced.

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by Aly Khan Satchu (www.rich.co.ke)
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September 2020

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