home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  rich wrap-ups | **richLIVE** | richPodcasts | richRadio | richTV  | richInterviews  | richCNBC  | 
Satchu's Rich Wrap-Up
Monday 20th of June 2022

Register and its all Free.

read more

There is a Passage in V.S Naipaul's A Bend in the River

There is a Passage in V.S Naipaul's A Bend in the River

“Going home at night! It wasn't often that I was on the river at night. I never liked it. I never felt in control. In the darkness of river and forest you could be sure only of what you could see — and even on a moonlight night you couldn't see much. When you made a noise — dipped a paddle in the water — you heard yourself as though you were another person. The river and the forest were like presences, and much more powerful than you. You felt unprotected, an intruder ... You felt the land taking you back to something that was familiar, something you had known at some time but had forgotten or ignored, but which was always there.You felt the land taking you back to what was there a hundred years ago, to what had been there always.” ― V.S. Naipaul, A Bend in the River

read more

Atardecer en el río Congo. Seguimos. @xavieraldekoa

Atardecer en el río Congo. Seguimos. @xavieraldekoa

Sunset on the Congo River. We continue.

read more

Rest in peace, Peaky Blinders. We will miss this magnificent show so much @NewStatesman @MsRachelCooke

Rest in peace, Peaky Blinders. We will miss this magnificent show so much @NewStatesman @MsRachelCooke 

There is a reason why Tommy Shelby’s Wikipedia page is almost as long, and as intricate, as that of David Copperfield. Put aside his bold notoriety, his metallic badness. He is us, we are him.

The funeral service makes a pyre of a gypsy caravan. As it burns, it clatters: the sound of bones, best china and silver photograph frames. Four years pass. It is now 1933.

In England, in his grand house with its mullioned windows that at times seem to semaphore an indecipherable code, his daughter, Ruby, has fallen ill. She has been muttering Romani words. Terror rises inside him, and so he returns home.

he has played with the story of these islands, grave questions of class, politics and identity (Irish, Jewish, Romani) daringly woven into the screenplay’s more obvious criminal excitements. 

“I am myself,” says Tommy, in this new series. He has always wanted “everything, already”. These lines: they’re straight out of Dickens, famished and self-mythologising.

Peaky Blinders S06E04 Theme Song "LISA O'NEILL Blackbird"

read more

.@FukuyamaFrancis The democratization of authority spurred by the digital revolution has flattened cognitive hierarchies along with other hierarchies, and political decision-making is now driven by often weaponized babble.
Law & Politics

 .@FukuyamaFrancis The democratization of authority spurred by the digital revolution has flattened cognitive hierarchies along with other hierarchies, and political decision-making is now driven by often weaponized babble.

At a time when what is required is agile multi disciplinary thinking we have ''weaponized babble''

read more

Last Tango in Washington? @Consortiumnews Michael Brenner
Law & Politics

Last Tango in Washington? @Consortiumnews Michael Brenner 

Reality has a way of catching up to us. Sometimes it comes via a sudden shock — Sputnik or Tet. Sometimes it creeps up incrementally — as in Ukraine with each thousand round Russian artillery barrage and the steady rise of the ruble now 25 percent higher than at the onset of the crisis.
Dim the lights, the party’s almost over. But that is not the end of the affair. Whatever the exact outcomes, there is no going back to the status quo ante — the world, especially Europe, has changed in fundamental respects. 

Moreover, it has changed in ways diametrically opposite to what was desired and anticipated.
The West has been inhabiting a fanciful world that could exist only in our imaginations. Many remain stranded in that self-deluded mirage. 

The more that we have invested in that fantasy world, the harder we find it to exit and to make the adjustment — intellectual, emotional, behavioral. 
An assessment of where we are, where we might go and the implications over time of the reactions of other parties is a singularly complex undertaking. 

For it requires not just specification of time frames, but also the varying definitions of national interest and strategic objective that government leaders might use as reference marks.  
The number of permutations created by the array of players involved, and the low confidence margins associated with forecasts of how each will act at key decision points down the road, exacerbate the already daunting challenge. 

Before one even contemplates embarking on such a task, there are a few crucial considerations to bear in mind. 
Those in Charge
First, the people who count at the head of governments are not pure thinking machines. 

Far from it. They are too often persons of narrow intelligence, of limited experience in high stakes games of power politics, who navigate by simplistic, outdated and parochial cognitive maps of the world. 

Their perspectives approximate montages composed of bits of ideology, bits of visceral emotion, bits of remembered but inappropriate precedents, bits of massaged public opinion data, and odds-and-ends plucked from New York Times op-ed pieces.
In addition, let’s remind ourselves that policy-formation and decision-making are group processes — especially in Washington and Brussels — encumbered by their own collective dynamics.  

Finally, in Western capitals, governments operate in dual currencies: policy effectiveness and electoral politics.  

Consequently, there are two powerful, in-built tendencies that inflect the choices made: 1) inertial extension of existing attitudes and approaches; and 2) avoidance wherever possible of endangering a hard-won, often tenuous, consensus on a lowest common denominator basis.  

One thing we know with certainty: no fundamental change in thinking or action can occur without determination and decisiveness at the top. 
Necessity is the mother of invention — or so it is said. However, grasping what is “necessary” can be a very slippery business. 

An actual recasting of how one views a problematic situation normally is a last resort. Experience and history tell us that, as do behavioral experiments.

The psychology of perceived necessity is complex. Adversity or threat in and of itself does not trigger improvisation. Even the survival instinct does not always spark innovation. 

Denial, then avoidance, are normally the first, sequential reactions when facing adversity in trying to reach an objective or to satisfy a recognized interest. 

A strong bias favors the reiteration of a standard repertoire of responses.

True innovation tends to occur only in extremis; and even then, behavioral change is more likely to begin with minor adjustments of established thinking and behavior at the margins rather than modification of core beliefs and patterns of action. 
The American Dilemma
Those truths underscore the American dilemma as the Ukraine venture turns sour on the battlefield and your enemy is faring far better than expected while your friends and allies are faring far worse.
Russia has blunted everything thrown at them – to the shock of Western planners. 

Every assumption underpinning their scorched-earth assault on the Russian economy has proven mistaken. 

A dismal record of analytical error even by C.I.A. and think tank standards.
Off-the-charts forecasts on the country’s economy, and the global impact of sanctions, crippled Washington’s plan from the outset. 

Tactical initiatives of a military nature have proven equally futile; another 1,000 vintage Javelins with dead battery packs will not rescue the Ukrainian army in the Donbass. 

So, you are stuck with the albatross of a truncated, bankrupt Ukraine hung around your neck. There is nothing that you can do to cancel these givens — except a direct, perhaps suicidal test of force with Russia. 

Or, perhaps, a retaliatory challenge elsewhere. The latter is not readily available — for geographic reasons and because the West already has expended its arsenal of economic and political weaponry.

Over the past year, the U.S. attempted to foment Maiden style regime changes in Belarus and Kazakhstan.  Both were foiled. 

The latter was with the connivance of Turkey, which deployed a contingent of bashi bazouks from the stock of Syrian jihadis it keeps on call in Idlib (to be deployed as President Recep Erdogan did more successfully in Libya and Azerbaijan).  
There remains one conceivable sensitive target: Syria. There, the Israelis have become increasingly audacious in goading the Russians by airstrikes against Syrian infrastructure as well as military facilities.
Now, we see signs that Moscow’s tolerance is wearing thin, suggesting that further provocations could spark retaliation which Washington then could exploit to ratchet up tensions. 

To what avail? Not obvious — unless the ultras in the Biden administration are looking for the kind of direct confrontation that they’ve avoided in Ukraine, until now. 
The implication is that the denial option and the incremental adjustment option are foreclosed. Serious rethinking is in order — logically speaking. 
The most worrisome scenario sees the frustration and anger and anxiety building in Washington to the point where it encourages a reckless impulse to demonstrate American prowess. 

That could take the form of an attack on Iran in the company of Israel and Saudi Arabia — the region’s new odd couple.
Another, even grimmer prospect would be a contrived test of wills with China. 

Already we see growing evidence of that in the bellicose rhetoric of American leaders from U.S. President Joe Biden on down.
One may be inclined to dismiss it as empty chest-thumping and muscle flexing. Shadow boxing before a life-size picture of an upcoming opponent — and then sending him a video tape of your workout. 

However, there are influential people in the administration who are prepared to pick a fight with Beijing and to let the chips fall where they may. The likely American reaction to loss in Ukraine is less dramatic.
‘Sufficing’ Policy

A “sufficing” policy would aim to encapsulate the entire affair. As best you can, forget about it and bury it diplomatically. 

The United States has gotten very good at that sort of thing: consider Vietnam, Iraq, Afghanistan, Libya, Syria et al.
Let the Europeans pay for the country’s maintenance and partial reconstruction. Writing checks is just about the only thing that Brussels has a talent for. 

Indeed, just a few days ago E.U. Commission President Ursula von der Leyen announced in Kiev the readiness of Brussels to accept Ukraine’s petition to be recognized as a “‘candidate” for membership in the union itself. 
In a wider compass, Washington could bank its modest winnings. The Europeans are now united in their servitude and obedience to Washington. 

That spares them the dreaded prospect of actually standing up — and standing together — to assume their proper responsibilities in the world.
Furthermore, any disposition to welcome Russia into a common European space is dead. 

That applies to economic dealings, including critical natural resource trade, as well as politically. 

Russia has been severed from Europe definitively for decades if not generations. If that leads to a less economically robust industrial Europe, so be it — that’s their problem.
The American economy, too, may suffer some collateral damage. It will get a boost, though, from privileged access to Europe’s energy markets and the weakening of a competitor in goods and services. 
The serious, systemic threat to the American economy looms down the road. 

Washington’s radical weaponizing of the mechanisms for managing international finance has accelerated the move away from dollar supremacy. 

A markedly diminished role for the dollar as the world’s principal transaction and reserve currency will erode the United States’ “exorbitant privilege” of running a deficit/debt economy without constraint.
Admittedly, on the other side of the balance scale, a confident, intact Russia will find its economic and political future pointed Eastwards. 

The already deeply entrenched Sino-Russian partnership is the key geo-strategic development of the 21st century. 

That hardly should have come as a surprise; after all, just about all American actions in regard to both powers over the past 15 years have led inexorably to that outcome. 

That includes, of course, the blunder of trying to use a Ukraine crisis as the lever to bring down Putin, and Russia with him. 
Whatever trajectory the contest between the West and the Sino-Soviet bloc takes, it now will demand ever greater imagination and skill to manage — without tempting fate — than if United States had been inclined to pursue a more constructive course.
One can argue that the historic choice that America has made by deciding to follow the Wolfowitz Doctrine as a user’s guide to strategy in the 21st century has been made for reasons lodged deep in the country’s psyche more than those that are the product of reasoned deliberation.
Collective American self-esteem, belief in being Destiny’s child, the ordained No. 1 in the world, has been our society’s foundation stone. 

We have not matured beyond that magical dependence on myth and legend — to our, and the world’s, misfortune. 

read more

Law & Politics


1-4-2-1. The first 1 refers to defending what has since come to be called the homeland. 

The 4 refers to deterring hostilities in four key regions of the world. 

The 2 means the U.S. armed forces must have the strength to win swiftly in two near-simultaneous conflicts in those regions. 

The final 1 means that we must win one of those conflicts “decisively,” toppling the enemy’s regime.

read more

May 29 Vanity of Vanities! All is vanity
Law & Politics

May 29 Vanity of Vanities! All is vanity

Cummings continues
Blofeld: Kronsteen, you are sure this plan is foolproof?
Kronsteen: Yes it is, because I have anticipated every possible variation of counter-move.
Politics therefore suffers from a surfeit of narcissists.
The occupants of No10, like Tolstoy’s characters in War and Peace, are blown around by forces they do not comprehend as they gossip, intrigue, and babble to the media.
The MPs and spin doctors steer their priorities according to the rapidly shifting sands of the pundits who they are all spinning, while the pundits shift (to some extent unconsciously) according to the polls.
The outcome? Everybody rushes around in tailspins assembling circular firing squads while the real dynamics of opinion play out largely untouched by their conscious actions.
In terms of a method to ‘manage’ government, it is not far from tribal elders howling incantations around the camp fire after inspecting the entrails of slaughtered animals. 
Layer on top of this a highly managed media construct which is essentially a Claque where alternative voices are deplatformed and we have an environment which was accurately described thus by @FukuyamaFrancis
The democratization of authority spurred by the digital revolution has flattened cognitive hierarchies along with other hierarchies, and political decision-making is now driven by often weaponized babble.
At a time when what is required is agile multi disciplinary thinking we have ''weaponized babble''
Less than two months ago The ''Leader of the Free World'' President Biden said his sanctions against Russia would “reduce the Ruble to rubble” and this has happened
The Architect of the Sanction warfare program said 
The @POTUS Official Who Pierced Putin’s “Sanction-Proof” Economy @NewYorker [4]
Singh said, “We’ve made him stare into an economic abyss. But he could choose to pull back.”
The markets are where these two systems touch—the supply of buckwheat, the joint energy ventures, the price of the ruble—and within this arena the sanctions were a demonstration that Washington still had levers to pull.
“You know, we can play chess, too,” Singh said. “It was important for us to show that the fortress could come crumbling down.”
The geoeconomic debacle is off the scale.  

read more

John Mearsheimer, who famously predicted the war in Ukraine years ago, sees "no way this war ends anytime soon". @RnaudBertrand
Law & Politics

The main reason being that "Russia  and the United States are deeply committed to winning the war and it is impossible to reach an agreement where both sides win."

read more

Currency Markets at a Glance WSJ
World Currencies

Euro 1.052640
Dollar Index 104.391
Japan Yen 134.9425
Swiss Franc 0.96673
Pound 1.224100
Aussie 0.69629 
India Rupee 77.88005 
South Korea Won 1289.265
Brazil Real 5.1537
Egypt Pound 18.6954 
South Africa Rand 15.997300

read more

Weeks of negotiations on safe corridors to get grain out of Ukraine’s Black Sea ports have made little progress, with urgency rising as the summer harvest season arrives. @AP
Food, Climate & Agriculture

Weeks of negotiations on safe corridors to get grain out of Ukraine’s Black Sea ports have made little progress, with urgency rising as the summer harvest season arrives. @AP 

Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70% of its sunflower oil and are big suppliers of corn. Russia is the top global fertilizer producer.
World food prices were already climbing, and the war made things worse, preventing some 20 million tons of Ukrainian grain from getting to the Middle East, North Africa and parts of Asia.
Weeks of negotiations on safe corridors to get grain out of Ukraine’s Black Sea ports have made little progress, with urgency rising as the summer harvest season arrives.
“This needs to happen in the next couple of months (or) it’s going to be horrific,” said Anna Nagurney, who studies crisis management at the University of Massachusetts Amherst and is on the board of the Kyiv School of Economics.

Typically, 90% of wheat and other grain from Ukraine’s fields are shipped to world markets by sea but have been held up by Russian blockades of the Black Sea coast.

Ukraine has only been able to export 1.5 million to 2 million tons of grain a month since the war, down from more than 6 million tons, said Glauber, a former chief economist at the U.S. Department of Agriculture.
Russian grain isn’t getting out, either. Moscow argues that Western sanctions on its banking and shipping industries make it impossible for Russia to export food and fertilizer and are scaring off foreign shipping companies from carrying it. 

Russian officials insist sanctions be lifted to get grain to global markets.

World production of wheat, rice and other grains is expected to reach 2.78 billion tons in 2022, down 16 million tons from the previous year — the first decline in four years, the U.N. Food and Agriculture Organization said.
Wheat prices are up 45% in the first three months of the year compared with the previous year, according to the FAO’s wheat price index. Vegetable oil has jumped 41%, while sugar, meat, milk and fish prices also have risen by double digits.

read more

Developing economies should think hard about taking on resource-backed loans @WorldBank @davidmihalyi @MarcelloEstevao & @RivettiDiego

Developing economies should think hard about taking on resource-backed loans @WorldBank @davidmihalyi  @MarcelloEstevao & @RivettiDiego

In sub-Saharan Africa, for example, such loans represented nearly 10 percent of total new borrowing between 2004 and 2018. 

We recently analyzed a sample of 30 resource-backed loans extended to central governments and state-owned-enterprises in sub-Saharan Africa from 2004 to 2018—totaling $46.5 billion , or nearly a tenth of the continent’s new borrowing during this period.

Resource-backed loans are not necessarily cheaper than unsecured loans. Chad, for example, restructured its loan with Glencore in 2015 , but was still paying an all-in-cost of over 8 percent on its fully collateralized loan, before restructuring it again in 2018. The reasons for this are suggestive of payday loans. 

read more

Un espectáculo. Otro año más, el rito de pesca colectiva Sanké Mo. @xavieraldekoa

Un espectáculo. Otro año más, el rito de pesca colectiva Sanké Mo. @xavieraldekoa

Un espectáculo. Otro año más, el rito de pesca colectiva Sanké Mo. Durante 4 días, hombres, mujeres, niños y ancianos aprovisionan de peces a toda la región. El rito anual se celebra desde el año 1400 y forma parte del patrimonio nacional de Mali.

A show. Another year, the Sanké Mo collective fishing rite. For 4 days, men, women, children and the elderly supply fish to the entire region. The annual rite has been celebrated since the 1400s and is part of Mali's national heritage.

read more

The national carrier, Malawi Airlines, has seen a 14% jump in passenger numbers since Bushiri relocated. @thecontinent_

The national carrier, Malawi Airlines, has seen a 14% jump in passenger numbers since Bushiri relocated. @thecontinent_ 

Its spokesperson Only Taulo says it has “a very good business working relationship with the Bushiri ministry’s logistics teams”. This has extended to extra flights to Johannesburg to cater for the increased demand.

read more

Debt-GDP ratio of East African Community (EAC) member states @TanzaniaInsight
East Africa

Debt-GDP ratio of East African Community (EAC) member states @TanzaniaInsight

🇰🇪 Kenya 64.2%
🇷🇼 Rwanda 49.8%
🇺🇬 Uganda 49.7%
🇹🇿 Tanzania 31%
🇸🇸 South Sudan 28.9%
🇧🇮 Burundi 13.6%

read more

@SafaricomPLC down 36% YTD share data
N.S.E Equities - Commercial & Services

@SafaricomPLC down 36% YTD share data 

Price: 24.30
Market Capitalization: 973,589,900,400
PE: 13.96

read more

by Aly Khan Satchu (www.rich.co.ke)
Login / Register

Forgot your password? Register Now
June 2022

In order to post a comment we require you to be logged in after registering with us and create an online profile.