Good one @Thiongo
Kenya facing recessionMr. Charles Abugre, UN Millenium Campaign Regional Director, makes very strong case. And he cites our short-sightedness at many levels, reflected even here on Wazua, and it's difficult to dispute:
1. CBK gives banks cheap money invested in real estate, instead of productive areas of economy. “Why is it that there is so much growth in the real estate when people’s average income have either increased very slowly or not at all?”2. Government liberalization attrating money from foreigners used to speculate in the markets; money looking for a quick buck instead of long term projects. “There has been a lot of flow of money into the stock market and that is why there was a boom and in my view this is also what fuelled the housing boom. Short money flows in quickly but it also flows out rapidly."My conclusion: We could be looking at a recession as we near an election year. At the end of the day, it is our love of the deal and disregard for our neighbours that sunk us.
http://www.capitalfm.co.ke/busi...-kenya-facing-recession/