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Satchu's Rich Wrap-Up
 
 
Thursday 03rd of September 2020
 
Morning
Africa
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Macro Thoughts
World Of Finance
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08-JUN-2020 :: Anybody can be decisive during a panic It takes a strong Man to act during a Boom.
World Of Finance

“The businessman bought at ten and was happy to get out at twelve; the mathematician saw his ten rise to eighteen, but didn’t sell because he wanted to double his ten to twenty.”



Las Vegas is officially back. @ArashMarkazi
Misc.


Explore sixty years of work by influential American artist, Ed Ruscha Alternative Las Vegas
Misc.


Home Thoughts
Africa
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.⁦@Tate
Misc.


“Everybody, everybody everywhere, has his own movie going, his own scenario, and everybody is acting his movie out like mad, only most people don’t know that is what they’re trapped by, their little script.” ―
Misc.


Edward Ruscha, The Final End 1992
Misc.

Here the phrase ‘The End’, in a black gothic-style typeface, occupies the centre of the picture like it would in the final frame of an old Hollywood movie. The format of the canvas echoes the proportions of a cinema screen. This association is reinforced by the grey background and thin vertical streaks that suggest marks on old film stock. However, long, thin, pale yellow grasses sprout from an invisible ground in front of the words, obscuring them from view. The Final End demonstrates Ruscha’s interest in the histories of visual culture and graphic design. The work and its title may express sadness about the passing away of certain beloved aspects of popular culture.

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There is certainly a Fin de siecle even apocalyptic mood afoot. The conundrum for those who wish to bet on the End of the World is this, however. What would be the point? The World would have ended.
World Of Finance


“The world is on fire; time is a bomb. Ten thousand years are not enough when so much remains to be done.” Jeet Thayil wrote in his buzzy Bombay based book Narcopolis:
Misc.


Don DeLillo wrote "Everything is barely weeks. Everything is days. We have minutes to live." The Way we live now #COVID19
Misc.


Edward Ruscha, HOPE 1998
Misc.

The visual appearance of this work is in tension with the meaning and associations of its title. Black and blue paint, applied with a spray gun, seems to be in the process of obliterating the word ‘HOPE’. The effect of the paint particles across the paper surface is reminiscent of dirt on a vehicle or even blood spatter from a gunshot wound. HOPE’s large-scale and horizontal format relate it to advertising billboards, a longstanding visual interest of Ruscha’s.



A Luminous and Fairy Tale Feel
Misc.


The Way We Live Now
Misc.


Political Reflections
Law & Politics
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24 OCT 11 :: Gaddafi's Body in a Freezer - What's the Message?
Law & Politics


Wilhelm Sasnal Gaddafi 3 2011 @Tate
Law & Politics

Gaddafi 3 depicts the body of the Libyan dictator Muammar Gaddafi, who was killed by rebels on 20 October 2011, lying on a mattress surrounded by a group of rebel fighters. Gaddafi 3 is the third in a group of three paintings based on digital images of the violent death of Gaddafi, the others being Gaddafi 1 2011 (Tate T14241) and Gaddafi 2 2011 (Tate T14240). The scale of this canvas, the largest of the three, establishes a direct physical relationship between the viewer and the fighters depicted within it, both engaged in focusing on the lifeless body. The flat application of oil paint, unusual fleshy palette and use of grey-scale with a preponderance of saturated black, are all typical of Sasnal’s practice. The dramatically foreshortened figure of Gaddafi also recalls Andrea Mantegna’s painting Lamentation of Christ c.1480 (Pinacoteca di Brera, Milan).

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The Lamentation over the Dead Christ
Misc.
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#BREAKING Former Italy PM Silvio #Berlusconi positive for #COVID19 reports @AFP
Law & Politics


Globally, daily cases continue to average more than 250,000 per day.. @TetotRemi
Misc.


[I still believe] We are not there yet. The exponential moment is still in front of us. #COVID19
Misc.


Global daily growth is (very slowly) decreasing and is now at 1%.. @TetotRemi
Misc.


A virulent plague that “travelled through the air as if on wings, it burned through cities like fire”. Year of the Virus
Misc.


Daily growth is slowing, we expect the global trajectory to flatten...@TetotRemi
Misc.


On Jul 23 the Global #COVID19 diagnosed case growth average [was] 1.8%. @jmlukens
Misc.


and more than 5,000 deaths per day...@TetotRemi
Misc.


They fancied themselves free, wrote Camus, ―and no one will ever be free so long as there are pestilences. #COVID19
Misc.


Spain reporting more cases over the last seven days than during March’s peak. @@TetotRemi
Misc.

It is just a matter of time before the Spanish Government announce a new set of measures to contain the outbreak...



International Markets
World Of Finance
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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1794

Dollar Index 93.036

Japan Yen 106.26

Swiss Franc 0.9140

Pound 1.3280

Aussie 0.73018

India Rupee 73.3854

South Korea Won 1188.96

Brazil Real 5.3404

Egypt Pound 15.8288

South Africa Rand 16.8275

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Dollar Index Chart INO 93.005
World Currencies
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Euro versus the Dollar 3 Month Chart 1.1794
World Currencies
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Commodities
Commodities
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Commodity Markets at a Glance WSJ
Commodities
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Gold 6 month INO 1930.00
Commodities
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Crude Oil 6 Month Chart INO
Minerals, Oil & Energy
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Emerging Markets
Emerging Markets
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#India (DD=1/09/2020) #COVID19 R(T)=1.08>1 @CovidTrajectory
Misc.


#COVID19 and the Spillover Moment
Misc.


In the Middle East, the seven-day average daily cases is over 10,000...@TetotRemi
Misc.


Sub-Saharan Africa
Africa
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Covid Corruption Plague Spurs Political Shake-Up Across Africa @bpolitics
Law & Politics

African countries have generally handled their coronavirus response better than many experts feared, except for one detail: managing corruption.

Kenya is the latest African nation to have its politics shaken by allegations of graft in handing out pandemic-response contracts. 

It follows South Africa, Botswana, Zimbabwe and Uganda, which have all been rocked by scandals of their own.

Preliminary investigations show officials who’ve illicitly benefited largely adopted similar methods: awarding contracts to companies owned by relatives or friends to supply medical equipment and services to the state at inflated prices in exchange for kickbacks. The relaxation of tender and procurement rules as governments rushed to prepare health systems for an anticipated influx of patients made it easier for funds to be misappropriated.


“Massive, and often yet-to-be-borrowed, funds have fallen prey to entrenched patronage networks,” said Robert Besseling, executive director of political risk advisory firm EXX Africa

“The implications of COVID-19-related state corruption may outlive the pandemic, as many African countries that are already struggling to repay or refinance loans have lost the confidence of investors and lending partners.”


With probes ongoing in several countries, the extent of the plunder is still unknown, but is set to amount to hundreds of millions of dollars. 

Tedros Adhanom Ghebreyesus, the director-general of the World Health Organization, articulated the public outrage that the profiteering has elicited in an online briefing last month.

“If health workers work without personal protective equipment, we’re risking their lives and that also risks the lives of the people they serve,” said Tedros, a former Ethiopian health minister. “It’s criminal and it’s murder and it has to stop.”


30,000 Deaths

Africa has had more than 1.2 million confirmed coronavirus cases so far, while more than 30,000 of those diagnosed with the disease have died, data from Johns Hopkins University show.

Inadequate testing capacity on the world’s poorest continent means the actual tallies are likely far higher.

In South Africa, the authorities are probing suspect contracts worth almost $300 million -- some awarded to companies established shortly after the outbreak of the disease and owned by high-profile politicians’ relatives. 

President Cyril Ramaphosa has likened those who had illicitly profited to hyenas and vowed to hold them account, but no-one has been convicted so far.

In Kenya, President Uhuru Kenyatta this week followed Ramaphosa’s lead in ordering details of all virus-related contracts to be published online after irregularities were uncovered at the Kenya Medical Supplies Authority.

In Zimbabwe, Obadiah Moyo was sacked as health minister in July after being charged in connection with the unlawful procurement of $75 million worth of medical equipment. 

Virus-related scandals have also cost health officials in Botswana, Somalia and Uganda their jobs, and have implicated cabinet ministers in Malawi and the Democratic Republic of Congo.



There may be genuine reasons why spending controls may be too lax, including the need to take decisions and buy equipment quickly, but there’s also a risk that corrupt officials and suppliers could exploit the situation and get away with it, said Liz David-Barrett, director of the Centre for the Study of Corruption at the University of Sussex in the U.K.

“The difficult part about a crisis is that it is much harder to differentiate corrupt behavior from the results of genuine mistakes and rushed decisions,” she said. 

“The most important thing a country can do is to make contracting transparent so that the people can still hold governments to account.”


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Year of the Virus
Misc.


5 March 2020 Debt, virus and locusts create a perfect storm for Africa @TheAfricaReport
Africa
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December 9, 2019 Time to Big Up the Dosage of Quaaludes
Africa


Hugh Masakela said ''I want to be there when the People start to turn it around''
Africa


Africa saw a much lower wave than expected...@TetotRemi
Africa


#COVID19 update in Africa. 2 September 2020 as of 6PM EAT. Total cases. 1, 260, 400 Total deaths 30, 065 & Recoveries.1, 001, 581
Africa


#Coronavirus is exponential, non linear and multiplicative.
Africa


Elderly Guinea president confirms 3rd term bid, vows to represent young people @Reutersafrica
Law & Politics


Boyarkin blames the protests mainly on “outside forces” and has nothing but praise for Conde. “I consider him a savior for Guinea.” @business
Law & Politics


28-OCT-2019 :: From Russia with Love
Africa

But, he said, Russia was going to be a different kind of superpower, one that does not engage in “pressure, in- timidation and blackmail” to “exploit” sovereign African governments.

“Our African agenda is positive and future-oriented. We do not ally with someone against someone else, and we strongly oppose any geopolitical games involving Africa.”



U.S. to cut $100 million in aid to Ethiopia over dam dispute @Reutersafrica
Law & Politics
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South Africa All Share Bloomberg
Africa
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Dollar versus Rand 6 Month Chart INO 16.838
World Currencies
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Egypt Pound versus The Dollar 3 Month Chart INO 15.8097
World Currencies
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Egypt EGX30 Bloomberg
Africa
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Several Nigerian bank mastercards suddenly have $100 monthly spending limits on them. We are turned into children daily in this country. @molarawood
Africa


Nigeria All Share Bloomberg
Africa
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Ghana Stock Exchange Composite Index Bloomberg
Africa
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Kenya
Africa
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Just to put things in perspective: In 6 months [on average] the number of people die in Kenya: @janzigbe
Africa

Coronavirus 581

Snake bites 1000

Road Accidents 2000

Malaria 5500

Cancer 15,000

Aids related diseases 13,000

Total deaths [various causes] 366,000 [whole year]



Kenya Shilling versus The Dollar Live ForexPros
World Currencies
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Nairobi All Share Bloomberg
N.S.E General
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Nairobi ^NSE20 Bloomberg
N.S.E General
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Every Listed Share Can Be Interrogated Here
N.S.E General
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by Aly Khan Satchu (rich.co.ke)
 
 
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