MinBane

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Archive for the tag “Treasury”

The Republican’s plan of fixing the tax-code is by bailing out corporations and the wealthy!

Just like the leaflet dropped in April 2017 as a serious Tax Plan, which was one-page long. Clearly, the people in charge of the economy and financial state of the United States. Are more preoccupied with taking private jets and eating while in office than actually working. I can question that after months after the leaflet, there was a tiny amendment on the newly proposed tax-plan. Since it is just small expanded text. Now instead of one single page, its gone up to 9 pages. Not like a handbook into the codes, neither economic implications of the taxes. Like which groups gets benefits, who will pay more and what sort of “damage” will the tax-cuts made by Republican Party do.

This released Tax plan: “Unified Framework for Fixing Our Broken Tax Code”, that was released today. You should expect better work, especially from former businessmen and bankers who are running the Commerce Secretary Wilbur Ross and Treasury Secretary Steve Mnuchin. Both of them has been bankers, but they still has no stats or proof of how these tax codes really affects society. It’s like selling house on only the paperwork and have no official showing of the house. When you get there it either be just a big lie or it be a shiny palace.

That the United States Government and Republican Party are delivering this sort ploy to trigger their wishes is insane. What is striking is words like these: “An additional top rate may apply to the highest-income taxpayers to ensure that the reformed tax code is at least as progressive as the existing tax code and does not shift the tax burden from high-income to lower- and middle-income taxpayers” (Republican Tax, 2017). This is like saying we will take away and make it simpler for the highest earners to pay less, while this will not burden the ones who earn less than us. So that the progressive though is that the highest earner will get a tax-cut and we promise it will not bother anyone.

But the framework are really showing its love for corporation and giving them tax-holidays from the last quarter of 2017: “The framework allows businesses to immediately write off (or “expense”) the cost of new investments in depreciable assets other than structures made after September 27, 2017, for at least five years. This policy represents an unprecedented level of expensing with respect to the duration and scope of eligible assets. The committees may continue to work to enhance unprecedented expensing for business investments, especially to provide relief for small businesses” (Republican Tax, 2017). So they can easily just tap lots of investments without showing them to the Internal Revenue Service, this means the investments would be easily invested and written-off, without considering the tax-record in general. This will be quickly profitable for big corporations and real-estate businesses. Who can easily invest and get profits within months. As they sell in the next year, as they are investing in 2017 and writing it off. While in 2018 selling it. Then they didn’t need to pay the tax for the investment done in 2017. This is double profit for the bigger businesses. It’s a match made in heaven for the multi-national corporations in the United States. The state will earn less and just make sure the investment will be even more short-term and be more buy-in and takeovers. Since they can earn lot’s on the investments, before dropping it or selling it the next year after writing it off.

The framework limits the maximum tax rate applied to the business income of small and family owned businesses conducted as sole proprietorships, partnerships and S corporations to 25%. The framework contemplates that the committees will adopt measures to prevent the recharacterization of personal income into business income to prevent wealthy individuals from avoiding the top personal tax rate” (Republican Party, 2017). Again, the proposed Tax is made to secure the wealthy, so they will get tax-cuts, this is not for the betterment of the state. It is to secure the wealthy and make sure their tax-rate is cut. Clearly, the treasury and commerce secretary are trying to help their friends and family on Wall Street and in the big business with a fancy tale of tax codes and cuts.

If you thought President Trump cared about Middle-America or even about the Working-Class, they we’re needed props and needed ballots for the election. But now that he got you in his pockets. He can get a payday, cut his taxes and make sure his friend on Wall Street gets their payday too! Peace.

Reference:

Republican Tax Plan – ‘UNIFIED FRAMEWORK FOR FIXING OUR BROKEN TAX CODE’ (September 2017)

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Malawi: Banned entry of Malema and Chishimba, because the DPP fears the TA Conference!

That the Transformation Alliance are planning to become a Political Party seems to stressful for the Republic of Malawi. This can be said, since the Ministry of Home Affairs and Internal Security, Hon. Grace Obama Chiumia ordered that two foreign speakers to a TA Conference we’re banned from the Republic. This is the Zambian politician Saviour Chishimba and the South African politician Julius Malema. TA must really upset the Democratic Progressive Party (DPP) and the President Peter Mutharika, who is struggling in with the Cash-Gate and the Maize-Scandal, that has run the Republic.

The Malawian ruling party and President Mutharika must fear the possible TA becoming a single political party instead of a political pressure group. Since the pressure group has enough power to get two foreign high-level politicians to its conference. They would question the corruption and the problematic institutions lacking procedures to secure food storage. Just take a look!

BLANTYRE – Transformation Alliance (TA), a political pressure group, has announced that it has invited South African and Economic Freedom Fighters leader Julius Malema, and controversial Zambian politician Saviour Chishimba, to its first national conference end of August ahead of the 2019 elections” (…) “Chishimba is a darling to Malawians for being a whistle blower of the controversial maize deal between state grain trader, Agricultural Development and Marketing Corporation (Admarc), Zambia Cooperative Federation (ZCF), a government agency, and private company Kaloswe Commuter and Courier Ltd” (Kamanga, 2017).

Civil Society Organizations (CSOs) have threatened to take action to force the ruling Democratic Progressive Party (DPP) pay back the money it received from councils and parastatals during the blue night fundraising dinner held at Kamuzu Palace. According to reports, DPP solicited money from Blantyre City Council (BCC), Mzuzu City Council (MCC) and Lilongwe Water Board (LWB) totalling K13.5 million. Gift Trapence: The reports sparked anger among CSOs who demanded that DPP must pay back the money it got from the institutions” (…) “As Civil Society Organizations we are not going to allow having that impunity and we are warning the ruling party it will return that money come rain come sunshine,” said Trapence. He further urged President Peter Mutharika not to allow party members to be “insulting” the citizenry when they demand answers on issues of national interest” (Bisani, 2017).

Chakwera will join Julius Malema a well -known politician in South Africa, a firebrand agitator who is revered and disliked in equal measure as another speaker will be Zambia’s leader of United Party (UP), Saviour Chishimba and that he has already confirmed his attendance. TA spokesman, Leonard Chimbanga could not confirm or deny about Chakwera attending the conference late alone making a keynote address, but confirmed that the leader of opposition has been invited to attend the conference. “He has been invited since we share similar views on matters of national interests,” he said. Meanwhile, some officials within the alliance have told Nyasa Times that the pressure group is working on turning into a political party ahead of 2019 elections apart from working underground to forge an alliance with other political groupings including Malawi Congress Party (MCP) and Peoples Party (PP)” (Malawi Voice Reporter, 2017).

Clearly, the Malawian government are afraid of the TA. They fear what the opposition pressure group TA can gain from this conference. That is why they have banned the Zambian politician UP Chishimba and South African EFF Malema is barred from entering the country. This proves the problems Malawi government has with it’s opposition. Peace.

Reference:

Bisani, Luke – ‘CSOs threaten demos over blue night donations’ (16.08.2017) link: https://malawi24.com/2017/08/16/csos-threaten-demos-blue-night-donations/

Kamanga, Penelope Paliani – ‘Malawi’s pressure group invites Malema and Zambia’s Chishimba’ (14.08.2017) link: https://southernafrican.news/2017/08/14/malawis-pressure-group-invites-malema-and-zambias-chishimba/

Malawi Voice Reporter – ‘Kunkuyu’s Transformation Alliance Party Teams-Up With MCP Ahead Of 2019 Polls’ (16.08.2017) link: http://www.malawivoice.com/kunkuyus-transformation-alliance-party-teams-up-with-mcp-ahead-of-2019-polls/

Opinion: Trump’s proposed Tax Reform is made for the wealthy and no-one else!

It is hard to take the “2017 Tax Reform for Economic Growth and American Jobs” that was released on 26th April 2017, a one page leaflet of wishes. This is shorter than most of the restaurant and they usually doesn’t have that many dishes to serve their clientele. Still, the Trump Administration and their “Treasury Secretary Steve Mnushin set out a test for tax reform that, “there will be no absolute tax cut for the upper class.” (Richard E. Neal – ‘President Trump’s Tax Proposal Another Broken Promise to the Middle Class’ – 26.04.2017). Still, with the first prospect of the wish-list of the Trump Administration is to give the rich less taxes.

An on a one-page wish-list you don’t really have the space or the care for describing the results, I look forward to read the CBO report on the proposed tax cuts. Since this should have some sort of implications, not only let the Manhattan elite afford yet another cabin in the Aspen or trip to Formula One in Monaco. They are speaking of easing the tax-codes and provide tax-relief for American families, without giving any specific detail into what that might be. I am sure the tickets of travel and the indispensable Secret Service guards to the golfing-weekends at the Mar-A-Lago in Florida has more explained reports, than these quick promises to the American families.

They are putting new brackets for the American families, also doubling deductions from the taxes and promise relief, without saying what this means, or if the families really get any serious cuts. While the Business get a shaved business tax rate from 35% to 15 %. One time tax on the Business Ownership abroad, to make sure the funds comes back into the United States. Last is to eliminate the tax breaks for special interest. So the last one, is to significantly add some tax back in the Internal Revenue Service.

So the little plan they have is to either cut and reform it minimally, while giving tax breaks to bigger corporations and the wealthy. The ones who already have the money and earns the profits, get to pay less, while the ones who needs or could have need of serious reform doesn’t get it. The ones earning on this wish-list is the Wall Street connected individuals, the Multi-National Corporations and the Limited Liability Companies (LLC). This sort of tax reform is made for the richest, not for the working class or the average voters who voted for the current President.

This is just another proof, that the President Trump isn’t there to drain the swamp or even trying to stop the major corporate takeover of Washington D.C. and the Capitol Hill. He is more of the same, just infused with less coded language and straight-face doubling down on the foreplay for the business executives. There isn’t anything in the works that proves that President Trump want to care about environment or health of his population over the profits of Goldman Sachs, Merrill-Lynch or any other significant private sector business operative like Exxon-Mobile. All of them will get the blessings and their days in the sunshine. As long as their Manchurian Candidate Trump are in office.

There aren’t anything that proves otherwise, his Executive Orders has been for easement of the businesses, not for the well-being of the population nor environment. The lacking care of the citizens and only caring for corporate citizens will clearly alter the pledges and promises. Certainly, the ones who voted for him should feel betrayed. The corporate greed in the United States is endless, as all the lobbyists, the paid senators, paid representatives and other legislators in Washington D.C. follows their donors more than the public. Just look at Ted Cruz record of praising the Mercer family and their values. Than you get a prime time example and all of the Republicans working for the Koch Brothers will.

The same is now happening from the oval office, with no restraint or any care of the consequence, if they fail or bitterly accept the truth. Doubt it, as they will double down and say it is for the common core, while the true tax cuts is for big-business and multi-national corporations who will have a surge of profits. The supposed trickling down theory will be put into play, while more of the monies will go into the pockets of the wealthy and the difference between the richest and poorest will grow even more. The lack of care from the state combined with the massive wealth, will really also destroy the society and make the ones left behind even feel more vulnerable, but that is not a concern the Trump Administration has. They only care for the billionaires and millionaires, not the ones living on food-stamps or on government subsidizes, as this government would easily have axed all of that.

I look forward to see the estimates from a real tax-plan from the Trump Administration, one with the implication and proposed reaction to the taxes and cuts. If the Trump Administration after these sort of cuts ever compare themselves to previous administrations and their cuts. They should be careful, as this will spike the deficit and the borrowing will grow enormously, into amounts that make the Democratic government look careful and fiscal sound. But it is only the Republican Presidents and Governments who is allowed to act as drunk dogs and then complain when the democrats doesn’t serve them at the last call. Certainly, this is the prospect of this sort of acts. This will not be for the American families, neither for the middle-class, this tax cuts are for the business owners and the wealthy who pockets dozens of millions on this without any consideration on fiscal funding of the budget, nor the expenses running the current government. But hey, Trump wants to downgrade the American economy and also weaken the dollar, so this might be one of the many ways he tries to do it. Kudos! Peace.

Opinion: Eric Trump are right, under the Trump Administration, the US is becoming a “Third World State”!

It’s really sad that we’re in an environment where tax returns are leaked by whoever it may be” (…) “Just think about it. Think about how dangerous that is, how third world that is on a practice that happened. When personal information is put out by people for political agendas. As a civilian, it’s actually scaryEric Trump on Fox News (Tani, 2017).

It is just one of these days where the sons of President Donald Trump speaks their mind and hits the nail. The nail is in the coffin, with the knowledge of the plans to make the republic less attractive, less business-friendly, more lassiez-faire and more focused on army than on progressive financial instruments and regulation to create growth. Trump Administration is busy with deporting millions, building a wall and starting trade-wars. The U.S. Government does not need to be transparent or accountable while doing so. Especially, not in the minds of one of his sons. That claims something unique and special. I have claimed in the near past that under President Trump, the U.S. Government could turn the Republic into a Banana Republic, a sort of style government that could be described by others as a third world one. Therefore, let the dictionary explain that!

Eric Trump needs a definition of the Third World:

1: a group of nations especially in Africa and Asia not aligned with either the Communist or the non-Communist blocs” (…) “2: an aggregate of minority groups within a larger predominant culture” (…) “3: the aggregate of the underdeveloped nations of the world” (Merriam-Webster).

So the United States can itself soon be fitted, not that it is an Asian or African nation, neither Communist, but still it is getting underdeveloped by the way the financial framework and industry is set-up under the Trump Administration. Where the Industry and Financial industry has the Administration by the balls and no eager of taking care of nature or the resources, except for eating the profits without giving anything back to the Republic. Just like the Oil Industry in Nigeria or in Ghana. The same as the mining and mineral industry in the Democratic Republic of Congo. So the United States under President Trump, will be similar. Eric Trump is not so far off, just not the way he thought he would be.

Another man’s vision:

This brings about complete dysfunction. It makes everything — economy, politics, roads, bridges, police, school — broken and shitty. Those who can leave do. Making it worse. This leads to more extremism, and more corruption, and more cynicism. And sometimes extreme violence. Because the other side becomes evil” (…) “The US has been shifting towards all four of these over the last 30 years, with inequality leading the way. We are more divided, economically and socially, then we have ever been (we are less divided racially. But only marginally so.)” (Arnade, 2016).

So when you have a system on the brink of collapse, a wealthy elite eating of the government plate and settling score to not pay their bills to the public, while the citizens and middle-class cannot build a steady life or afforded needed services, you know there are something wrong with the system and the state. That makes the Eric Trump words so right, that United States is becoming more like a third world country, with a sophisticated army, but cannot afford health care, schools or infrastructure. Just like the countries President Trump doesn’t want to affiliate with or been seen with. Since him and his advisor Bannon are supposed to be superior, and like a dictator in a Third World country, he believes he is always right and isn’t wrong.

So one smudge of evidence of his fathers Tax Returns from 2005 leaked to MSNBC Rachel Maddow, proves the realization of the state, that the Trump Administration would dislike. As they are not capping the debt, neither taking into account their ideas of taxation and tax-releases, as much as their will to deregularte industry and financial institutions. Therefore, leading the space of more expenses and negative environmental policies, that damage earth and only gains profit for a slim elite. Just like a Third World Country.

This is degrading for the United States, but the harsh truth, the ideas and policies in the making, the killing of health insurance, the idea of building the giant nuclear silos, while not paying for food for the starving. Proves that the U.S. Government are no closer to countries it does not want to be affiliated with, but still can be consider to be assimilated with. President Trump and his administration is clearly not wishing to be differing from chauvinistically taking charge and not caring what effect it has. Clearly, it is only his image that matter, just like any big-man and authoritarian leader.

So, soon we can say that the United States is underdeveloped and need aid, as their waters are daft, the industry is lacking technology, the roads are more potholes than tarmac, the bridges are weak, their railways not working and often not trusted. The United States has soon more expensive foreign imported goods, than what they produce and is losing money on their export of cash crops as soya and other grain. Therefore, President Trump leading his Republic to become underdeveloped or become a Third World Country.

Reference:

Arnade, Chris – ‘USA: A Third World Country in the making’ (05.10.2016) link: https://medium.com/@Chris_arnade/usa-a-third-world-county-in-the-making-14064ea5c534#.ah2gi0loi

Tani, Maxwell – ‘Eric Trump blasts Trump’s tax return leak on Maddow: ‘Think about how dangerous…how third world that is’ (19.03.2017) link: http://nordic.businessinsider.com/eric-trump-tax-return-leak-maddow-third-world-2017-3?

Merriam-Webster – ‘third world’ link: https://www.merriam-webster.com/dictionary/third%20world

Opinion: President Trump might have the most eloquent speech yesterday, still his acts is what worries me!

trump-abc

It does not matter if he has the most perfect and most suited address of internal American matters or international yesterday in the Congress. That do not affect me B. Since his Executive Orders, Internal Memo’s and all the other tools that he uses to inflict harm and destroy humanity is that concerns a fellow brother like me.

I does not matter to me if he learned a few new words, spoke with his heart and blurred out some common sense yesterday. Since the lack of respect for intelligence and the lack of understanding of the reactions to his own actions are massive. The reason for the concern is the way he can easily pick something out of context and spread it like a disease.

President Trump, your Executive Orders and Presidential Memorandum is the ones that brings fear to me. The insulting ways of not caring what the experts in fields are saying and your lack of grasping the mentality of being the man-in-charge. The title is easy to carry, but to achieve something with honour and grace seems far-fetched at this point. Therefore, we are at crossroads, the crossing has already appeared and your methods are in use.

I cannot look out say since you said something beautiful yesterday and hopeful. Believe that tomorrow you will act like a man, who respect the constitution, international order and be civil. Since your ways is not like that and seems strange if that really would happen. You have an imagination and self-drive that is out of proportion. The sense of justification for your assaults on others is because you are always the victim, even when you strike first. Which is insulting to the rest of us seeing the whole ordeal and hearing it by all cable-TV.

So that you believe in yourself that you can as a PR stunt in a first Presidential Address take away the inflicted pain and suffrage you have already caused, that is not possible. There is a long way, but your immigration rules, the way you have been fixing the ICE agents procedures and attack on anyone questioning your reasons. Does not rule high in my book of proverbs. More likely shows the lack of morals and the lack of integrity a man of Presidential stature is supposed to have.

President Trump and his administration do not care about the effects as long as the rich multi-national companies earns fortunes, if you spill oil in rivers, frack the Midwest like a Swiss Cheese or even put trade-embargoes on Mexico and Canada, who cares as long as Goldman Sachs or any other big financial organizations earns huge profits. The pain of the ordinary person is not important. Therefore if 20 million Americans lose their health insurance is not that important, but what is important is that they pay for their coverage and get rid of the ones that should not have the ability to covered anyway. That is a true American spirit and wishful society, where the wealthy get yachts and hotels, while the poor has decide if they can by McDonalds burger or medication for their daughter. What a wonderful picture of the new America First.

Certainly, Trump must be so brave to take away the help to the poorest, the ones in need so he can spend fortunes upon fortunes on ammunition, guns and hi-tech military equipment, that is how nations is built. Out of the ashes of war and despair comes the grand fortunes of corruption and multi-million progress salvage pack bought and greased by American business. A favourable package for Trump and financial market friends.

Therefore, the words and speech of hope or whatnot yesterday does not matter to me. Because I cannot believe it or think that, it is true. Since his Executive Orders is to free-market policies or to give way to deport, detain or stop immigration at a scale in modern history that cause havoc. Together with the current political climate and the scales of internal conflict, it does not serve the United States, neither the world.

You can in theory claim that a potato is not a potato, still when you look at it and touch it. You know deep in your heart it is a potato and your mind remembers how a potato feels in your hand. Even if Trump now speaks of peace, promise of better day and of another to make America First. Trust me; I do not trust him, not a single bit. That is because of his acts and the way he does not give in. That is why he has in the past always taken things to court and appealed until the others have given in to a settlement instead of what they was entitle to get in the first place. Trump have manoeuvred that way in the past. So why should the old man change now?

chunk_2806

I will not be shocked if read soon more disturbing Executive Orders where the Immigrants and their access to American soil is a danger to all of society, a cost and burden on all sort of employment. Therefore, I do not trust the man. Since his time as President the efforts to humans who flee wars for safe haven has been shut, the deportation with ICE agent has escalated and the reality of the economic is already starting to be shaped. A nice little speech is not changing my perspective on the man. Unless, the man retracts the Executive Orders, stops the internal memos and just stop with rhetoric of his. However, the old man will not do that, since it is not his way.

So please, do not tell me there is new Trump. Glean and Clean Trump does not exist and is not real. It fake like his tan. If there were a new Trump, it would have the changed and begged sorry to some of the people he really has offended. That is not him. We all know that my now and we know that he will not do anything about that. Unless, Bannon or one of the other wise guys at the White House says so.

Well, enough of the nonsense? Not yet! We have so many more days of this administration. Therefore, there will be more of this and this gravy train of ignorance and blatant disregard of decency will not decay, more it will sprite up some more juice and call it soup. Peace.

Two Executive Orders from Trump that proves his laissez-faire free-market not caring for federal regulation of big-business!

trump-quote-2016

President Donald J. Trump has decided to the man and leader who love giant corporations and their needs first. Therefore, this February Trump Administration has yet again opened the doors for Business and big corporations to get free space to do their work without interference of the state or federal regulations. Trump wants business to be so free and without taxes, so the wealthy can be stinky rich without considering how they make their fortunes. Therefore, he has already loosen up with Fiduciary Duty Rule, where the investors get good advice or advice that might be better for the consumer, not the ones the wall-street trader or banker earns the biggest profit on and the consumer losing all their savings in. The second is that Trump will continue to cut strings and regulations. Take a look!

“The Department of Labor’s (Department) final rule entitled, Definition of the Term “Fiduciary”; Conflict of Interest Rule — Retirement Investment Advice, 81Fed. Reg. 20946 (April 8, 2016) (Fiduciary Duty Rule or Rule), may significantly alter the manner in which Americans can receive financial advice, and may not be consistent with the policies of my Administration” (E.O. 03.02.2017).

“You are directed to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice. As part of this examination, you shall prepare an updated economic and legal analysis concerning the likely impact of the Fiduciary Duty Rule, which shall consider, among other things, the following:

  • Whether the anticipated applicability of the Fiduciary Duty Rule has harmed or is likely to harm investors due to a reduction of Americans’ access to certain retirement savings offerings, retirement product structures, retirement savings information, or related financial advice” (E.O. 03.02.2017).

So you can see that advice from traders and bankers are getting freer so the U.S. Citizens can get bad advice that the crony capitalist earns on and the consumer loses their savings. They can give advice on investment portfolio that has problematic structures that even could be similar to subprime mortgage loans and the housing bubble of 2008, which started the economic recession. Therefore the ignorance of this proves that the President cares more about Goldman Sachs and other big multi-national banks. Their power eats the White House. Therefore the Trump administration has more plans that was unleashed on Friday!

On revising regulatory rules for business:

“By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to lower regulatory burdens on the American people by implementing and enforcing regulatory reform, it is hereby ordered as follows:

Section 1. Policy. It is the policy of the United States to alleviate unnecessary regulatory burdens placed on the American people” (E.O. 24.02.2017).

“Each Regulatory Reform Task Force shall evaluate existing regulations (as defined in section 4 of Executive Order 13771) and make recommendations to the agency head regarding their repeal, replacement, or modification, consistent with applicable law. At a minimum, each Regulatory Reform Task Force shall attempt to identify regulations that:

(i) eliminate jobs, or inhibit job creation;

(ii) are outdated, unnecessary, or ineffective;

(iii) impose costs that exceed benefits;

(iv) create a serious inconsistency or otherwise interfere with regulatory reform initiatives and policies;

(v) are inconsistent with the requirements of section 515 of the Treasury and General Government Appropriations Act, 2001 (44 U.S.C. 3516 note), or the guidance issued pursuant to that provision, in particular those regulations that rely in whole or in part on data, information, or methods that are not publicly available or that are insufficiently transparent to meet the standard for reproducibility; or

(vi) derive from or implement Executive Orders or other Presidential directives that have been subsequently rescinded or substantially modified” (E.O. 24.02.2017).

If you wonder what this means is that the Trump Administration is working on getting rid of certain financial regulations that is not benefitting the business community, the big-banks and the reforms that is done to secure a stable economic policies, to prevent bubbles and other openings that hurts the economy. Trump Administration rather wants to open all doors and believe fewer regulations are good and greed will create a prosperous society. Therefore, you can expect them to dismantle or repeal the Dodd-Frank regulation that can be summarised like this:

“Generally, the Dodd-Frank Act imposes more stringent regulatory capital requirements on financial institutions. The Act requires that the Council make recommendations to the Federal Reserve regarding the establishment of heightened prudential standards for risk-based capital, leverage, liquidity and contingent capital” (Morrison & Foerster, 2010).

This is seen as preventive for economic growth, even as the numbers and statistics haven’t showed lacking results of the business in the United States after the legislation came to pass. The Banking institutions haven’t lacked funds or investment opportunities in the republic. So the need to repeal or to take away the clear cut regulations of Dodd-Frank is more of ideological belief, than a systematic defaults of the added regulation to make sure the banks and corporations follows guidelines for their investments and follow the standards the Federal Reserves has put. This was put into a new law by the Presidency of Bill Clinton and called the Gramm-Leach-Bliley Act or the GLBA.

This can be summarised like this:

“The Gramm-Leach-Bliley Act makes the most important legislative changes to the structure of the U.S. financial system since the 1930s. Financial services firms will be authorized to conduct a wide range of financial activities, allowing them freedom to innovate in the new economy. The Act repeals provisions of the Glass-Steagall Act that, since the Great Depression, have restricted affiliations between banks and securities firms. It also amends the Bank Holding Company Act to remove restrictions on affiliations between banks and insurance companies. It grants banks significant new authority to conduct most newly authorized activities through financial subsidiaries” (…) “Removal of barriers to competition will enhance the stability of our financial services system. Financial services firms will be able to diversify their product offerings and thus their sources of revenue. They will also be better equipped to compete in global financial markets” (Clinton, 1999).

So surely Trump seems keen on following the traits of William Clinton or Bill, who had his ways of opening the markets and making sure the big-business didn’t had to have issues with regulatory business, giving bankers and banks more power and have more involvement with more financial instruments. Therefore the banks could sufficiently control more of the financial transactions and instruments to earn even bigger profits without any concern of the federal state regulatory bodies. This is one of the reasons for the Dot Com crash and the Subprime Crash of the recent decades, as the banks could easily transform business and create markets without any consideration of the small-investors, the citizens or the ones losing in the banking crisis of 2008. This is scenario coming up if the Trump Administration opens up and repeal the Dodd-Frank Act. There are another one he might look into that has also regulated the businesses in the United States, this being the Sarbanes-Oxley Act (SOX), which can be explained like this:

“Sarbanes-Oxley established the Public Company Accounting Oversight Board to regulate public accounting firms that audit publicly traded companies. It prohibits firms that audit publicly traded companies from providing other services to the companies they audit, and it requires that CEOs and CFOs of the publicly traded companies certify their companies’ annual and quarterly reports. The Act authorized the Securities and Exchange Commission (SEC) to issue rules governing audits” (…) “The law requires that insiders may no longer trade their company’s securities during pension fund blackout periods. It mandates various studies including a study of the involvement of investment banks and financial advisors in the bookkeeping and recordkeeping scandals that motivated enactment of the legislation. Also included are whistle blower protections, new federal criminal laws, including a ban on alteration of documents” (FDIC – ‘Important Banking Laws’ 20.07.2015).

“That aspect of flexibility—being able to exempt some smaller companies from the mandate and make it easier for others to implement—is an important quality to keep in mind when we discuss future regulation,” says Srinivasan, who also cites the important role of the Public Company Accounting Oversight Board (PCAOB), a nonprofit private corporation created by SOX that oversees auditors of SEC-registered companies” (HBS Working Knowledge, 2014).

Certainly the review and the Trump Administration want are lacking accountability and freer market, total lassies-faire economy without any interference. Certainly if they could they would get rid of commissions and regulatory bodies that also interfering in the businesses of the United States…? Therefore, if SOX and Dodd-Frank acts are repealed or replaced with soft laws that opens the gates for free-for-all instead of economic regulations to safety the investors, the banks and the consumers. That would generate more trust for foreign investment and also of the consumers that want to be sure of their savings. Well, that is all a foreign opinion and understands of the world for the Trump Administration, an administration that is a corporate stooge and a not so invisible hand of Corporate America. Certainly Wilbur Ross and Steve Mnuchin will work for more open markets where the giant multi-national businesses get more freedom and less taxes, so profits can hopefully sore and the American consumer can be more rid-of-the-short-change in their pockets.

So if certain laws cease to exist or get repealed, if they get amended to a pointless state or even get new fancy laws made for big-business from Congress, don’t be surprised all the corporate stooges and well-wishers from the big-banks are all settled there, in the interest of capital donors and the republican super-PACs that want their reimbursement for their investment into the politician, certainly the Koch brothers and Mercer’s of this world want the gates open and market to sour for them. Not matter what cost or how many who loses their savings, as long as the wealthy are getting wealthier. Peace.

Reference:

Executive Order – Trump, Donald J. – ‘SUBJECT: Fiduciary Duty Rule’ – White House, United States of America (03.02.2017)

Executive Order – Trump, Donald J. – ‘ENFORCING THE REGULATORY REFORM AGENDA’ – White House, United States of America (24.02.2017)

Clinton, William J (Bill) – ‘Statement on Signing the Gramm-Leach-Bliley Act (12.11.1999) link: http://www.presidency.ucsb.edu/ws/?pid=56922

HBS Working Knowledge – ‘The Costs And Benefits Of Sarbanes-Oxley’ (10.04.2014) link: https://www.forbes.com/sites/hbsworkingknowledge/2014/03/10/the-costs-and-benefits-of-sarbanes-oxley/#77656419478c

Morrison & Foerster – ‘The Dodd-Frank Act: a cheat sheet’ (2010)

The United Nations World Food Programme (WFP) Begins Unprecedented Emergency Food Relief Operation in Drought-Hit Malawi (20.07.2016)

Maize Malawi

Malawi is one of the countries in southern Africa worst affected by El Niño-related drought.

NEW YORK, United States of America, July 20, 2016 – The United Nations World Food Programme (WFP) has begun a new round of life-saving relief operations in Malawi where as many as 6.5 million people – nearly 40 percent of the population – may require emergency assistance in coming months. This is set to become the largest ever emergency food relief operation in the country’s history.

Malawi is one of the countries in southern Africa worst affected by El Niño-related drought. Its food security crisis is not only due to this year’s unprecedented drought but to the impact of severe flooding and prolonged dry spells last year.

Across southern Africa, as many as 18 million people will require emergency assistance in El Niño affected countries between now and March, with needs peaking in January. Of these, WFP is planning to reach 11.9 million people with food assistance. Malawi is one of half a dozen nations in the region which has declared drought-related disasters in recent months.

Malawi’s already strained food security situation is worsening following the most recent harvest which suffered widespread failure, particularly in the south. Some 80 percent of the affected people are smallholder farmers who rely on what they can produce to feed themselves and their families. This is a country with high levels of stunting – low growth for age – as a result of malnutrition, as well as high rates of HIV/AIDS infections and related deaths which have left many orphans and child-headed households.

“This is a dire situation, one that the world needs to take notice of right now before it’s too late”, said WFP Executive Director Ertharin Cousin who today concluded a three-day visit to Malawi. “I’ve talked with women in rural areas who told me they have enough food for just a few more weeks, after which they will have nothing. We must urgently assist the people of Malawi and those affected by the drought in neighbouring countries, before food insecurity spirals into hunger and starvation.”.

WFP concluded its last round of food and cash-based relief in Malawi in April. Seasonal relief for the poorest and most vulnerable is normally offered between January and March at the height of the lean season – that period preceding the harvest during which domestic food stocks become increasingly depleted.

Following floods and drought last year, WFP responded to needs during the last lean season as early as October.  This year, however, emergency relief is starting now – that is because the lean season has already begun in many districts or is soon to start in others. The number of people currently in need in Malawi is two and a half times higher than last year, already a bad year.

For part of her visit, Ms. Cousin travelled with Dr. Jill Biden, Second Lady of the United States, who has been visiting Malawi as part of a three-nation African tour focusing on economic empowerment and educational opportunities for women and girls, and on partnerships on global health and food security.

Dr. Biden and Ms. Cousin together visited a primary school in Zomba district where students receive WFP school meals which are funded by the United States Department of Agriculture. They met farmers whose harvests have suffered badly because of the drought. The WFP Executive Director also met Vice President Saulos Chilima and other government officials.

It’s very important that we save lives in emergency situations.” said Cousin. “But it’s also vital to offer people hope and opportunities so that they’re better able to withstand shocks and cope for themselves in the future. That’s why we’re working with government and other partners including the UN Food and Agriculture Organization on programmes like school meals and support for smallholder farmers – these are initiatives that change lives in the long-term.”

WFP’s regional funding requirements for the most drought-affected countries from now until April next year is US$ 535 million; US$217 million of this is required to cover Malawi’s needs alone. There is a particularly urgent need for funding for Malawi to ensure that food stocks can be procured, transported and pre-positioned before seasonal rains start in November, making many roads in remote areas impassable.

Press Statement: Malawi – Result of the 2016 Food Security Assessment (10.06.2016)

Malawi June 2016 P1Malawi June 2016 P2

A look into the Maize-shortage in Malawi; As the Government reaction seems slow and reactionary; instead of well prepared; while the hiking of the price and running out at ADMARC storage sounds suspect; Malawian Gov. has questions to answer to their people!

Maize Malawi

This here will be about something simple as Maize, but not any maize as this is staple food. Malawi has had a rocky road when it comes to politics. This here about the agricultural economic structure that is fundamental for socio-economic stability, in an economy where the currency is losing value quickly. The sentiment and the government don’t seem honest in their approach and the opposition is addressing it, but not listen to. That is not something that is a new situation as governments tries to distance themselves from the opposition, but at this point it is a about something key to society as food security to its citizens.

What I don’t seem to understand how the President Mutharika can talk about having a decent economy to buy needed maize, while the economy is stagnating, and the Admarc cannot have given honest numbers of storage as the depleting. While the reports of selling stocks unlawfully and getting the maize prices higher and steady inflation on the price, while at one point promising to buy in Maize due to lack of stock, while the Zambian Authorities saying they have stopped exporting. Then even later telling the people that they are buying from Tanzania instead; that shows that the Government might have used the days between the “Zambian” import to facilitate the Tanzanian buying, while that is direct lying to the public about the general action from the government. The second is saying the government having the money while the funding from it comes from United Kingdom and U.S. to buy the maize. The U.S. gives through the United Nations World Food Program in the country, while the UK gave it more directly to the Malawian government. But before I go to deep, read and see if you get any clarity!

Peter Mutharika-2

Background on the Maize shortage:

The President on the 3rd February:

“Malawi President Peter Mutharika on Wednesday failed to clear the mist over the availability of the maize in the country following reports that the country’s sole grain marketer, Agricultural Development and Marketing Corporation (Admarc) is running short supply” (…)”My repeated assurance to you that no one shall die of hunger. Based on the assessed requirements of maize and quantities of maize that we have bought, there should have been enough maize in Admarc depots to cater for everyone’s needs” (…)”Admarc, meanwhile, will continue to replenish the maize stocks. In addition, we have additional money to buy more maize if needed” added Mutharika” (Nkawihe, 2016).

Same day release of the economic situation in Malawi:

“Since May 2012, upon devaluation, the Kwacha has lost value by 338 percent from MK169 against US Dollar as currently the local currency is trading at around MK720 against US Dollar” (…)”In a press statement released over the weekend signed by RBM Governor Charles Chuka which is also available to The Maravi Post, the central bank is optimistic of getting the Kwacha back despite its continue slippage against international foreign exchange” (…)”“Malawians would recall, the exchange rate misalignment was so serious that the country had very limited foreign exchange reserves and accumulated huge external payments arrears (estimated to be in excess of US$600 million) held by both Government and the private sector. This created persistent and wide spread shortages of fuel and other critical imports. Indeed, the exchange rate misalignment diverted foreign exchange transactions to the parallel or black market. Prior to the devaluation the official exchange rate was K169/US$ compared to over K250/US$ in the parallel market” (…)“Kwacha depreciation is hurting low-income earners and is creating undue uncertainty in the business community. It is however misleading to portray a collapse of the economy. Despite the debilitating exogenous shocks, the Kwacha has performed relatively better than in other countries when they also floated their currencies in the 1980’s and 1990’s. Malawi continues to pay for its international obligations and foreign exchange reserves have never been better, especially taking in to account the loss of donor direct budget support. Fiscal and monetary policy coordination has been strong despite daunting fiscal pressures”, concludes the central bank statement” (Mb’Wana, 2016).

Chakwera

Days later the opposition question on slashing of the budget:

“The 2015/16 approved budget was initially pegged at K929.7 billion, but is now down to K906 billion with recurrent budget reduced by just over K17.1 billion and the development budget slashed by K5.6 billion” (…)”Leader of Opposition and Malawi Congress Party (MCP) president Lazarus Chakwera reacting to the revised budget, told Nyasa Times that his party is eagerly waiting to hear from the government why instead of increasing the budget to buy maize for people who are suffering with hunger and medicine from public hospitals they have resorted to cutting the budget at this critical time” (…)”Apart from food crisis, shortage of medicine in public hospitals, Jooma said the budget was expected to rise due to the fall of kwacha as the approved budget of K929.7 billion was done when the kwacha was at K450 to one dollar and currently it is selling at 700 which means in actual sense the budget is all below what was needed and to cut it further it will continue squeeze poor Malawians” (Nkhoma, 2016).

The President on day the after:

“In a national on the Malawi Broadcasting Corporation (MBC) television on Thursday, President Mutharika said it had come to his government’s attention that some officers in ADMARC depots are conniving with vendors to buy and sell maize that has been subsidized” (…)”He also appealed to the police to investigate the matter thoroughly and bring to book those who will be guilty of such a malpractice” (APA, 2016).

CSO on the Maize shortage:

“Currently, Government has blamed vendors for the sloppy management at ADMARC which is assuring in a way that Government wants accountability. However, should venders really be part of the blame equation? Isn’t it ADMARC itself that opened its doors at the said odd hours to sell the maize? The Mpherembe ADMARC Depot alleged assault case reported in the Nation Newspaper of Tuesday, 16 February 2016 page 8, perfectly reveals the purported rot in ADMARC” (…)”Sourcing of maize from neighboring countries is very important because it will cut on transportation costs. As such, Governmnet must be applauded for this. However, it is also important to highlight that these neighboring countries are equally affected by el nino but yet have surplus to sell to Malawi” (Mkandawire, 2016).

malawi10bx

What Malawi Revenue Authority said to the public on the 11th February 2016:

“Its LEGAL to import maize flour into Malawi BUT it is ILLEGAL to smuggle the commodity. Get an import permit for free from the Ministry of Industry and Trade. You may not even pay duty if you have a COMESA Certificate” (Malawi Revenue Authority, 11.02.2016).

On the 20th February – this happen:

“Government spokesman and Minister of Information, Jappie Mhango claimed there is 60,000 metric tonnes of maize in her grain reserves, enough to feed the nation.” (..)”The delegates booed President Peter Mutharika’s chief adviser on economic affairs Collins Magalasi throughout his contribution as he tried to defend the food situation and authenticate statistics on available maize which he said was enough to feed starving Malawians” (…)“In total we have 50 500 metric tonnes [MT] of maize which has not been released to the people… People have decided to mislead themselves and this is about the maize that we are talking about, this maize is more than what we need,” said Magalasi” (…)”In  his presentation titled ‘Importance of agriculture to development’,  Cisanet’s National Coordinator,  Tamani Nkhono-Mvula  said: “It’s a pity that government is telling us that it has 60 000 metric tonnes of maize in grain reserves but an inside source has informed me that there is only 2000 metric tonnes” (Chilunga, 2016).

Zambia Maize

On the 25th February – Question on the import from Zambia:

“Member of Parliament for Rumphi East who is also opposition People’s Party (PP) third Vice President Kamlepo Kalua has written a letter requesting Malawi President Peter Mutharika to come to Parliament to clarify government claims to have procured maize for Malawians” (…)”He says Zambia has banned exportation of maize to Malawi and Zambia’s Agriculture minister has confirmed the ban” (Auzeni, 2016).

On the 29th Februar – Opposition rally discussing the matter:

“A joint rally in Lilongwe by opposition parties, the Malawi Congress Party (MCP), Peoples Party and the Alliance for Democracy (Aford) has openly dressed down Malawi President, Peter Mutharika as an ‘irresponsible leader’ who they claim does not care about the country” (…)”Chakwera said: ” We do have issues that show responsibility. Look at the hunger and the economic crisis. It’s a mockery to Malawians that despite scarcity of maize in Admarc depots, persistent power back out , water problems , shortage of medicine in public hospitals, rising prices of good, economic hardship Malawians are facing , Mutharika can boldly stand and say he has no problems” (…) ”We are all feeling the hunger together with the Malawians. Its unfortunate that he (Mutharika) does not see and know theres hunger in the country” said Chihana” (…)”The sentiments were made during the rally at Kalambo School Ground which the parties labeled as a solidarity on Sunday, as led by MCP leader, Lazarous Chakwera PP acting Vice Presdent, Kamlepo Kalua and Aford President Enoch Chihana” (Malawi Times, 29.02.2016).

Malawi Maze shortage ques at Storage depot

On the 29th February the first trucks arriving:

“Finance Minister Goodall Gondwe In Parliament: “Treasury has empowered ADMARC to procure another large consignment of 50,000 metric tons of maize from Tanzania. As we see it, we have and will have enough maize in stock that will be more than enough to satisfy ADMARC markets in the coming days” (…) “On the hunger situation, Gondwe says government has everything under control. “Just yesterday some 44 large trucks full of maize crossed our borders into Malawi” (Malawi Voice, 2016).

“About 70 trucks importing maize that government has bought through Admarc have spent more than two weeks at Mwami border in Zambia waiting for clearance from authorities. However, forty-four trucks carrying 500 metric tons arrived in the country on Friday” (…)”Admarc Chief Executive Officer, Foster Mulumbe, assured the nation that the process of  importing all the 30,000 metric tonnes of maize would take two weeks.“This was actually planned, well in advance by government. When you look at the tonnage that is coming, it’s 30,000 metric tonnes. That’s not the tonnage we need currently. We have actually started stockpiling for the coming season. If we are talking about what parliament is saying, they have made their assertion barely 12 hours ago we wouldn’t have been able go through the whole process and have the maize start arriving in Malawi now,” Mulumbe said” (McDonald, 2016).

On the 3rd March – Statement by CAMA:

“In a statement signed by its Executive Director John Kapito, Cama said government does not need to spend forex on importation of maize when there is already enough maize in the country” (…)“Cama is shocked that the Malawi government is importing maize at a time when we all know that there is a lot of maize in the country which is being held by private traders in various warehouses throughout the country” (…) “What is more annoying is that the private traders are hoarding the maize and demanding higher prices that range from K300 to K350 per kilogramme when they purchased such maize from poor Malawians at K60 per kilogramme. And we are aware that the private traders are intending to export the maize to satisfy their greed at a time when Malawians are dying of hunger,” Kapito said” (…)”Government announced that it would purchase 30,000 metric tonnes of maize from Zambia to avert the current food crisis”(Chitsulo, 2016).

29.02.2016 Newspaper Malawi

On the 3rd March – Statement from President Mutharika:

“I publicly appealed to our Development Partners to help us with additional food and other resources so that we can supplement our own local maize supplies to fight the pending hunger. The aim was to ensure that we should cover everyone who would need food support. I want to thank those friends who came forward and helped us, such as the WFP and others” (…)”Most sadly, I have been told that there is critical shortage of maize at many ADMARC depots. I am further informed that some ADMARC officials are conniving together with some criminal maize vendors, who buy ADMARC maize at night and sell it to poor Malawians elsewhere at very exorbitant prices. In some places poor Malawians are forced to buy this maize at Fifteen Thousand kwacha per 50kg bag, because they cannot find maize at ADMARC. Consequently some of them are now starving” (…)”I also want to appeal to all decent Malawians to examine their moral conscience and reflect deeply. I have repeatedly talked about patriotism, hard work and integrity. Because of hard work and careful planning, my government bought this maize through ADMARC at much higher costs for you to buy only at Five Thousand Five Hundred Kwacha (MK5,500) per 50kg. In effect, these thieves are therefore stealing this maize from you” (Mana Online – Malawi News Agency, 03.03.2016).

Reports today on 4.3.2016:

Production:

“Talks are in progress between the treasury and two major agro-processing companies to seal an agreement for maize production in Malawi” (Capital FM Malawi, 04.03.2016).

Import:

“While commending government for suspending import license requirements on importation of maize flour, traders in the industry are still calling on government to introduce a duty waiver on the commodity” (The Daily Times Malawi, 04.03.2016).

Admarc logo

Here is the continuation on the matter:

One Voice:

“Bill Mayaya, one of the organisers of the peaceful march said it a Republican Constitutional right for all the Malawians, regardless of their standing in society to have access to food. “We want to show the government that we are not satisfied with their explanations. People will continue dying of hunger and hunger related diseases” he said” (Khamula, 2016).

Second Voice:

“Bishop for Karonga Diocese of the Catholic Church Martin Mtumbuka has said the church is disappointed and concerned with the way many Malawians are suffering because they do not have food and has since called on government which claims to have maize to make it available to the people” (…) “I think that government of Malawi pays people who have solutions to that. So, I do not want to be doing their job by suggesting what they should be doing. All I would like to stress is we were told there is maize, let the maize be made available to the people. And we would also want to say may be the best way is also to stop blaming each other. I don’t want to enter into blame game but the key issue is that people should have the maize,” he said” (Mmana, 2016).

Third Voice:

“The Consumer Association of Malawi (Cama) has asked government to order private traders to release maize to the public and break the vicious cycle of hoarding the grain for anticipated inflated prices” (…)”Kapito claimed in a statement made available to Nyasa Times on Tuesday that private traders are hoarding the maize and demanding higher prices that range from K300 to K350 per kilogram, when they purchased such maize from poor Malawians at K60 per kilogram” (…)”Government must order all traders that are hoarding the maize to release it onto the market immediately. Government must recommend the selling price for such maize, knowing fully that it had recommended the buying price of maize from the farmers after harvest” says the statement (…)”The survey was carried out on January 30. 2016. “Most Agro Traders have the commodity but are not willing sale to Admarc or Government due to the fluctuation and instability of the local currency” reads the report in part” (…)”In terms of tonnage – as of January 30 – Pride Produce had 9,000 tonnes; Export Trading 89,000 tonnes, K U Distributors 70,000 tonnes while Trans-Globe had 40,000 tonnes of Maize” (Simutowe, 2016).

fertiliser-subsidy-reforms-and-maize-in-malawi-4-638

How the Government can afford to import maize:

The United States yesterday gave Malawi $27 million (K20 billion) in response to the food shortage that has affected about 2.8 million Malawians. The development brings America’s total contribution to humanitarian response to $ 55 million (about K41 billion) which represents about 44 percent of the K 92.7 billion the country needed to provide monthly food or cash ration to startling population between October last year and April 2016” (Mkandawire, 2016).

How the Government can afford to import maize Part II:

“The UK’s Department for International Development announced today that it is stepping up its humanitarian support to the southern African country, which with today’s announcement will total £14.5m since October 2015” (…)”International development minister Nick Hurd said providing support is not only “hugely important to African people” but also in the UK’s national interest” (…)”The announcement came as the World Food Programme appealed for $38m as the situation in Malawi worsens and the UN agency’s funds wane” (Rumney, 2016).

Zambian export of maize too Malawi saga:

“ZAMBIA suspended maize exports to Zimbabwe and Malawi last week to help build reserves in light of a looming El Nino-induced drought, local grain importers confirmed last Friday” (…)”The suspension has affected Zimbabwe and Malawi local grain importers who are now battling to import in about 150 000 tonnes of maize”(Afriem, 2016).

“Malawi has procured an additional 10,000 metric tonnes of maize grain from neighbouring Zambia that will be distributed to various Agriculture Development and Marketing Corporation (ADMARC) depots in the country to feed people up to April.Agriculture, Irrigation and Water Development Minister Allan Chiyembekeza told journalists in the capital Lilongwe on Tuesday” (APA, 2016).

admarck Llongwe

Afterthought:

As you see with certainty and certainly more to this story than what has been released and happen behind closed doors; I wonder also about how the storage components got empty and that the Admarc can’t control the amount of maize. That is what is worrying and the authorities can’t have a open trade with investors and companies who keeps maize already in storage, as the 30th January reports showed. The issue is that the Government of Malawi has told certain things and Government of Zambia told another, therefore ended up importing from Tanzania and not Zambia, as the time went by and still did not discuss the trade between the companies storing the local produced maize. That was bugs me as seeing the pictures of ques to Admarc storages to get little maize to themselves.

The questioning of the response from the Government and the ability to fulfil the necessary food security in the country; that is justified to ask as the President Mutharika defends and claim that Admarc stealing maize flour and selling it. That might be true to some extent, but still they could not take the whole amount of tonnes over night without any questions. Then if so, wouldn’t the government get reports and receipts, or some paperwork. That explains why the deliverance and due diligence on the work the government outfit has done. So if they stole the whole thing and was baffled thieving. Then the Government should arrest certain king-pens in the system and address the loss to get back the earned silver-coins by the thieves. Since that is not happening and the trades of the maize is rising, the prices spiking while the farmers getting less of a price from the government buying scheme. This shows some industry insiders earning on the spiked prices and getting extra cash for the same product as before the issue of struggling storage of maize flour in the country.

But the government claims at one point to have the cash be able to buy more if needed. While they really need donor funding to do so and get the UK and U.S. to drop their tax money and sending maize to Malawi. While the economy looks bleak by what the already reports is showing. This here is showing some arrogance from the government when they now the numbers and the reports of the storage. As the where are arrogant while they had to know the Zambian governments actions on their behalf. That is so hoping that people who are in a dire situation and hope that nobody is questioning it. Well, I hope they do and also get the government to answer for this as they have been left short by the shortage of the maize and the dwindling economy. Two aspects that is well fitted together and shows certain mismanagement from central government down to the citizens; and it is the citizens that pays the huge price and also the higher price of the maize flour as a cost of the actions that has happen recently. Peace.

Reference:

Afriem – ‘ZAMBIA SUSPENDS MAIZE EXPORTS TO ZIM AND MALAWI, NO MAIZE SOLD TO MALAWI’ (16.02.2016) link: http://www.afriem.org/2016/02/zambia-suspends-maize-exports-to-zim-and-malawi-no-maize-sold-to-malawi/

APA – ‘Subsidized maize not for sale, Mutharika warns Malawi dealers’ (04.02.2016) link: http://en.starafrica.com/news/subsidized-maize-not-for-sale-mutharika-warns-malawi-dealers.html

APA – ‘Malawi procures additional maize from Zambia’ (17.02.2016) link: http://en.starafrica.com/news/malawi-procures-additional-maize-from-zambia.html

Auzeni, PA Anzanu – ‘KAMLEPO PENS MUTHARIKA TO APPEAR BEFORE PARLIAMENT’ (25.02.2016) link: http://www.faceofmalawi.com/2016/02/kamlepo-pens-mutharika-to-appear-before-parliament/

Chilunga, Zawadi – ‘DPP ‘IN DENIAL’ SAYS KABWILA: MAGALASI BOOED AT ‘FUTURE OF MALAWI’ PAC CONFERENCE’ (20.02.2016) link: http://www.nyasatimes.com/2016/02/20/dpp-in-denial-says-kabwila-magalasi-booed-at-future-of-malawi-pac-conference/

Chitsulo, Moses – ‘Cama wants government to act on maize traders’ (03.03.2016) link: http://www.times.mw/cama-wants-government-to-act-on-maize-traders/

Khamula, Owen – ‘Malawi Protests over food shortage, economic woes March 10’ (02.03.2016) link: http://www.nyasatimes.com/2016/03/02/malawi-protests-over-food-shortage-economic-woes-march-10/comment-page-1/

Malawi Voice – ‘Treasury Empowers Admarc To Procure 50,000 Metric Tons Of Maize From Tanzania’ (26.02.2016) link: http://malawivoice.com/treasury-empowers-admarc-to-procure-50000-metric-tons-of-maize-from-tanzania/

Mb’Wana, Lloyd – ‘RESERVE BANK ASSURES MALAWI’S KWACHA STABILIZATION AMID PRICES OF GOODS AND SERVICES SOURING’ (03.02.2016) link: http://www.maravipost.com/business/economy/10387-reserve-bank-assures-malawi%E2%80%99s-kwacha-stabilization-amid-prices-of-goods-and-services-souring.html

McDonald Thom – ‘44 maize trucks arrive in Malawi’ (29.02.2016) link: http://www.times.mw/44-maize-trucks-arrive-in-malawi/

Mkandawire, Lucky – ‘US Give Malawi K20bn to buy maize’ (01.03.2016) link: http://mwnation.com/us-gives-malawi-k20bn-to-buy-maize/

Mkandawire, MacBain – ‘Maize shortage and the prevailing economic situation’ (19.02.2016) link: http://www.congoma.mw/2016/02/19/maize-shortage-and-the-prevailing-economic-situation/

Mmana, Deogratias – ‘GIVE MALAWIANS MAIZE—BISHOP MTUMBUKA’ (02.03.2016) link: http://www.times.mw/give-malawians-maize-bishop-mtumbuka/

Nkawihe, Maurice – ‘Mutharika admits Malawi citizens starving: Fails to clear air on maize security’ (04.02.2016) link: http://www.nyasatimes.com/2016/02/04/mutharika-admits-malawi-citizens-starving-fails-to-clear-air-on-maize-scarcity/

Nkhoma, Mphatso – ‘MALAWI OPPOSITION SCEPTICAL WITH REVISED BUDGET’ (27.02.2016) link: http://www.nyasatimes.com/2016/02/27/malawi-opposition-sceptical-with-revised-budget/

Rumney, Emma – ‘DFID increases food aid to Malawi’ (17.02.2016) link: http://www.publicfinanceinternational.org/news/2016/02/dfid-increases-food-aid-malawi

Simutowe, Yamikani – ‘Kapito says private traders should release maize: Asks Malawi government to issue order’ (02.03.2016) link: http://www.nyasatimes.com/2016/03/02/kapito-says-private-traders-should-release-maize-asks-malawi-government-to-issue-order/

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