GOK Running Out of Money
Finally, the Nation has a story out on a topic we have been discussing here for a while and that topic was about how this grand coalition illusion government was going to end up bankrupting the country. Hello? I’ve been saying this here for months.
It was clear very early on that there was going to be no money around for all these development projects that the government was talking about because they were diverting most of the tax money to pay for these exorbitant salaries and because it’s now become much more difficult to borrow money in the middle of a global recessionary environment.
I also remember saying that they were going to try and IPO their way out of this mess and it was not going to work and the reason it was not going to work is because any money raised from these IPO’s was going to be diverted into non-productive expenditures: things like paying for mercedes benz’s and fancy offices for all these ministers. They were not using it for expenditures that would produce positive returns for the economy in the long-run: things like public education, rural electrification programs, road building, etc, etc…
The Nairobi Stock Exchange is not going to build the Kenyan economy and neither are the banks. At some point, the government needs to realize that the country has to start producing real things; real things that can be exported around the world. Banks do not produce real things and spending tax payer money to buy luxury cars for your ministers is like throwing money down a rat hole.
Why don’t these government ministers study history? It took the Asian countries 30 years of massive investments in things like education and infrastructure before they began to see the return on their investment. The greed of the coalition government has set Kenya back 30 years and this is the real crime that both Raila and Kibaki will have imparted on the country.
Anyway, the only options I see here are:
**side note:
This bread company, which I had mentioned in an earlier post, is going to go ahead with it’s IPO listing. Only a sucker would give these people their money.
They should get rid of assistant ministers. What is there work anyway? The should also sell non esential government assets like some building , land and vehciles, slash salaries for the big guys (there is a huge gap between top civil servants and their subordinates.
They should however keep recruiting people to essential ministries like education and health and keep on development projects like roads, energy, elec grids, irrigation. Stoping that may mean the economy grinding to a halt.
They should stop those stupid subsidies for maize and stop buying maize for restock the NCPB. Let restock NCPB with maize from out own farmers in the next harvest season. Let WFP take care of the hungry and miserable in drought areas as that is they job to give aid to the needy.
And let everyone learn how to feed themselves. Its survival for the fittest. Since history even before we had this modern day kind of governments people have always fend for themselves and those who couldn’t where swallowed up or wiped out. However its high time we thought seriously of producing enough food as a country for our selves. How come we recieve maize from a desert country like Egypt. That is shameful. But I suggest if you come from a dry area with unpredictable rainfall, plant yams, arrow roots, cassavas and other drought resistant crops and get rid the nation that anything else apart from Ugali is not food.
Bur i guess a hungry and poor people can get mad and topple the government. That is why they have to feed them with maize meal and give them hand outs to keep them from tipping over the edge and getting rabid mad.
Side note, came across this list of cities ranked by GDP
http://www.citymayors.com/stat.....-2005.html
Pyongyang, North Korea, has a higher GDP than Nairobi.
So… any more articles/posts on ENTREPRENEURSHIP…?
BTW, how can u diss DPL when you have NOT even seen their prospectus?
… have you ever eaten their bread?
And what is the state of the momentum stock trader (can’t even remember his name) you used to rave about?
My fav (Warren Buffet) is down $25 billion but still #2 AND raring to go in the next few years!
P.S. I am not endorsing DPL Festive. I have NO idea about the quality of their business or finances.
@ working stiff,
so is kinshasa. I doubt the credibility of the report.
Just to divert from the topic.
Have you notice how negative we have become as Kenyans. It doesn’t matter whether its local residents or ones Diaspora, everyone is just negative. Just look at comments here, other blogs and especially comments in Daily Nation website articles. Just listen to the chatters of people everywhere.
While it may look like justified in some sense because of a lot of disappointment, am begging to suspect, now I have concluded this is a very unhealthy way of thinking. Negativity and despondency, always expecting the worst can actually lead to those expectation being a reality. Just like having faith and hope can turn around bad situations and bring great results, fear, pessimism and negativity talk can lead a disaster to our country.
Am not saying we applaud and comment for all the wrong decisions and policy government does, but often you will even find for some positive things the government tries to do, so fellows saying all manner of bad things hoping for the worst. If we always expect the worst, should we blame anyone but our selves for our misfortunes.
If you start a business and you complain all day how the business environment is bad, how the out look is bad don’t blame if your negative words find you. But if you spoke positive words and hoped for the best, what is the worst that could happen. Even if the good thing you hoped for did not happen in your own expected time frame, that drive of hope is what will keep you patient till that good thing happens to you.
So imagine 90% of 38 Million people demotivated, fearful, pessimistic, talking junk. Its very unhealthy. Sometimes it good to talk positive even if the prevailing conditions may cause to be called stupid or overly optimistic, or supporting the status quo but I think its healthy in the long run to help in dissipating the negative vibe all around us.
Noni: Erm, so what positive stuff has the GoK done for you lately?
Noni
Thats the way to go. You must have a positive attitude. Do not become a victim of this mass despondency.
I had a covenrsation with a friend of mine on Saturday who recently relocated from the UK to NIGERIA. He is working in a bank. I asked him if all those horror stories I have heard about Nigeria are true.
He told me that the First Class on ALL (repeat ALL FLIGHTS) flights to and from Nigeria is always full. And these are the same people moaning about how bad Nigeria is.
He told that after living there for two years he has concluded that those who talk bad about Nigeria are doing so because they want to monopolise the opportunities in that country. By the way, he is not a Nigerian.
This is the same case with Kenya.
It is a good country na hakuna mahali tutaenda.
Kei O,
U sound like an abused wife in denial….haha…good point though.
KE,
I have an Idea Lets introduce Lie Detector Tests to catch rogue politicians. This can be done before elections and after every campaign.
I got this idea after reading this articles…
http://news.bbc.co.uk/2/hi/europe/7942338.stm
noni: Have you notice how negative we have become as Kenyans. It doesn’t matter whether its local residents or ones Diaspora, everyone is just negative. Just look at comments here, other blogs and especially comments in Daily Nation website articles. Just listen to the chatters of people everywhere.
Now, what do you want us to talk about? Fiction and fantasy?
Kama haiko, haiko.
The country is being led by a zombie and his mentally unstable wife. What do you expect?
Change?
that we can believe in?
or is it hope?
Yes, we can.
Keep hope alive girrrrl
And maybe one day we’ll get to the mountain top of hope (or is it change?)
noni,
You have not understood the problems that these people are going through. Kenyans simply put are BITTER. Just look at the ANY clip from Kenya and tell me who you see smiling. The only people smiling are ministers. They know they’re comfortable.
I kind of get all that motivation mambo jambo you saying but Honestly how are you going to explain it to people who are being killed by open fire.
That doesn’t even add up- what you are saying.
The only person who understands what motivation is – Is the one not feeling any pain. When someone is in pain then he needs a urgent remedy and the only way to pursue that is either crying or wailing.
When you see people like Atwoli complaining its not that they are negative. They are crying that they’re are seeing all the future and loved ones being wiped out.
@ JUICY,
Lie detector tests won’t work. Kenya mp’s will not allow such thing to happen.
But if it were to actually happen- It would be beneficial.
ALL
Can you please show me a country where the people are happy?
*******
Good. I didn’t think you could.
Noni,
Jana… marthua karua told the students at KU. I paraphrase:
“Yes, we as politicians are happy. We got power after the National Accord was signed. And we (& cronies) benefit from the perks & salaries we draw. The rest of you of getting poorer.”
Anonymous: ALLCan you please show me a country where the people are happy?*******Good. I didn’t think you could.
The Scandinavian countries always come out first on those happiness index tabulations.
I think the people of Dubai would probably be a close second. How can you not be happy with all that money?
Poverty breeds anger and despair. African leaders have been too stupid to realize this. If you screw up the economy, it will eventually come back to screw you.
CT:
Karua is right. I’m just wondering how you think this rising anger will play out?
It erupted under Moi in 1982, but he got smart after that and tightened up the security situation, but what of Kibaki? If he doesn’t tighten up on the security apparatus, won’t the country explode again?
Anonymous & KE
I have been in Scandinavian countries and I didn’t see happy people there. MOney is not the key to happiness. They are very very sad despite the money. I am talking Sweded, Denmark, Norway etc. Very sad people.
The happiest nation on earth is said to be NIGERIA – believe it or not!