Author Topic: Jubilee legacy in ruins like this Africa Tallest building dream  (Read 2106 times)

Offline audacityofhope

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Jubilee legacy in ruins like this Africa Tallest building dream
« on: September 20, 2020, 10:42:03 AM »
If we wouldn't have had these 10 years, we wouldn't be having minnows around us comparing themselves with us, now we are minnows ourselves down to their level, bowing to their egregious demands.

https://nation.africa/kenya/news/africa-tallest-building-dream-now-lies-in-ruins-2303620e

Offline RV Pundit

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Re: Jubilee legacy in ruins like this Africa Tallest building dream
« Reply #1 on: September 20, 2020, 11:51:41 AM »
The slump in real estate is definitely Jubilee policy mistake - Njomo interest rate control hit the real estate sector as bank loan (credit) disappeared  - The whole policy  backfired. Jubilee has since done away with it.

But it was worth a try. Policy Experimentation is crucial.

Offline RV Kirgit

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Re: Jubilee legacy in ruins like this Africa Tallest building dream
« Reply #2 on: September 20, 2020, 04:52:06 PM »
The slump in real estate is definitely Jubilee policy mistake - Njomo interest rate control hit the real estate sector as bank loan (credit) disappeared  - The whole policy  backfired. Jubilee has since done away with it.

But it was worth a try. Policy Experimentation is crucial.

I don't think this would have been bad iff jubilee borrowed internally and bank roll infrastructure that use locally available material and manpower. Money could have trickled back to economy.

Jubilee lowered interest rates, borrowed, stashed cash, and bankrolled chinese, mexico maize etc. That's when Kenyan business started starving.

Offline Arcadian_Dreamer

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Re: Jubilee legacy in ruins like this Africa Tallest building dream
« Reply #3 on: September 20, 2020, 09:27:37 PM »
The slump in real estate is definitely Jubilee policy mistake - Njomo interest rate control hit the real estate sector as bank loan (credit) disappeared  - The whole policy  backfired. Jubilee has since done away with it.

But it was worth a try. Policy Experimentation is crucial.

I don't think this would have been bad iff jubilee borrowed internally and bank roll infrastructure that use locally available material and manpower. Money could have trickled back to economy.

Jubilee lowered interest rates, borrowed, stashed cash, and bankrolled chinese, mexico maize etc. That's when Kenyan business started starving.

Nope. Credit for private sector would've been crowded out. There is no way around fiscal probity.

Borrow in bite size chunks and don't overload the taxpayer, that is why Thika highway was not taxing for the public.
Sleep is good, death is better; but of course, The best would be never to have been born at all.