With November coming up, a lot of uncertainties lie ahead home and abroad. Right here in Zimbabwe, the advent of the 'Bond Notes,' controversial they maybe is surely enabling us to travel in unchartered territories. Abroad, the impending US presidential election is another uncertainty even though pollsters are already declaring a Hillary Clinton victory over Donald Trump, the circumstances on the ground make this election contest a fight to the end.
On the bond notes, the authorities have handled this matter badly considering that expectations play a very pivotal role in macroeconomics. Various stakeholders' expectations have not been managed well. DISCLAIMER: At the moment I do not support the introduction of the bond notes. It's not what happens after the introduction that matters but the period leading up to the introduction is equally important. When you hear the governor accusing the general populace of being irrational (with regards with this bond notes debacle), you then know that he does not have things under control. A central bank must be able to influence the economic environment for it to be able to contain the economic expectations.
A dearth in ideas from both opposing sides is obiquitous. It seems there are no well written schorlarly articles explaining the different intellectual positions. Ok, some of these positions are not intellectual at all. Why am I not supporting these bond notes? I will explain my thinking comprehensively within one week. Just watch this space.
On the US elections, the dichotonomous scenario whereby one is forced to choose between Trump or Clinton is appaling. Their practice of democracy is diametrically different to the democracy they preach and 'force' upon countries they consider weak and threatening to their 'values'. Of the two, under duress (based on the above interpretation) I prefer Clinton over Trump. That's how it is.
When you have a controversial candidate (with the case of Trump) at times the polls before the actual polls are sometimes misleading because where there is controversy, inactive or dormant voters come out of their shells. Those kind of voters are unpredictable.
It appears the americans are frustrated with the establishment but their democracy is not offering them a solution they would rather prefer. Trump is selling himself as anti establishment but the irony is that he has benefited enormously from decisions enacted by the very establiment he now despises. Think about his personal tax debacle, unfair subsidies his businesses get e.t.c. Some say catch a thief to catch a thief but at times send the victim to catch the thief.
On Hillary Clinton, her obsession with power, inconsistencies in her ideas and her apparent ineptitude puts her in a bad light. Both of them have bad track records. Like I said above, under duress I would choose Clinton over Trump if these are the only options available.
I will dwell on these issues in greater depth in the coming few days but hey that's how it is.
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