[kictanet] Kenyan banks and stock market

[Crystal Watley]

I am incredibly interested in how this affects the Kenyan economy. While, I
am not a stock market analysist, I do have a strong background in economics.
The American system is based on fossil fuels and nonrenewable energy
sources. There have been four oil major crisises in the history of the US
that have caused economic downturns. Each downturn was supported by a
government bail-out in one way or another. With the extreme trade defict in
the US, a economic shock like this could have consequences that cannot
easily be bought out.

This economic crisis is the cause of a system that is broken. The capitalist
economic system has never considered the environment. It is an externality
that can be spent at the cost of growth. We have seen this is unsustainable
as we watch US cities drown in the effects of global warming (see Hurricane
Katrina).

In Kenya I feel we have an opportunity in this crisis to look to new sources
for energy generation and new business models that are more inclusive than
profit maximization at all costs.

What do you think?

Crystal

On Wed, Oct 8, 2008 at 2:49 AM, aki <aki275 at googlemail.com> wrote:

>
> The global slow down is on. Asian markets have headed down steeply today
> morning.
>
> Kenya is not an island in the global economy. Anyone aware of steps already
> taken by the Govt/ Companies/Banks to protect/stabilize local market and
> prevent a crash or closures?
>
>
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-- 
Crystal "Naliaka" Watley
Voices of Africa
crystal at voicesofafrica.org
http://www.voicesofafrica.org/

"You must be the change you wish to see" - Gandhi
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