Mereja.Forum

Za-Ilmaknun wrote: ↑

09 Aug 2024, 12:03

If this is true, then this is the perfect time to buy dollar with every birr you have. Banks are hedging and, engaged in buying whatever dollar they could lay their hands on. They are trying to shield their reserve against the impending meltdown that is going to happen soon down the road. Unless one is oblivious to the reality on the ground or has political motives to give the disastrous policy appearance of what it s not, I can't imagine how in pure economics, without a sustained supply, demand could be met. Ethiopia imports $15 Billion and Exports only $3 Billion.

"This is the perfect instances of hype economy. The ability to get people talking about something in a positive way is tremendously valuable by most traditional standards. For entertainers, it can bring in large audiences. For goods and services, it can drive sales and help maintain customer loyalty. For politicians, it can be votes. For public policy initiatives, it can generate and shore up support. "

At some point though, the ability to generate buzz becomes disconnected both from the attributes which are supposed to drive it and the objectives it is supposed to serve. It then takes on a life of its own. Hype then is replaced by reality, which reveals the ugly truth that was made to be hidden beneath the rosy façade."

TGAA wrote: ↑

09 Aug 2024, 12:11

Za-Ilmaknun wrote: ↑

09 Aug 2024, 12:03

If this is true, then this is the perfect time to buy dollar with every birr you have. Banks are hedging and, engaged in buying whatever dollar they could lay their hands on. They are trying to shield their reserve against the impending meltdown that is going to happen soon down the road. Unless one is oblivious to the reality on the ground or has political motives to give the disastrous policy appearance of what it s not, I can't imagine how in pure economics, without a sustained supply, demand could be met. Ethiopia imports $15 Billion and Exports only $3 Billion.

"This is the perfect instances of hype economy. The ability to get people talking about something in a positive way is tremendously valuable by most traditional standards. For entertainers, it can bring in large audiences. For goods and services, it can drive sales and help maintain customer loyalty. For politicians, it can be votes. For public policy initiatives, it can generate and shore up support. "

At some point though, the ability to generate buzz becomes disconnected both from the attributes which are supposed to drive it and the objectives it is supposed to serve. It then takes on a life of its own. Hype then is replaced by reality, which reveals the ugly truth that was made to be hidden beneath the rosy façade."

SpotOn!
Those who are harping on about so-called corridor development or those who are trying to convince everyone that the currency floating policy of the reckless government will bring a heavenly manna to poor Ethiopians are refusing to accept that stunts like these always have a painfully short lifespan, whether implemented by individuals or governments. No country has advanced without first addressing the fundamentals. Just as one would never neglect the sewage system while beautifying a city, one should not impose an untested free-market system on an ethnically structured society that is inherently opposed to it. No Ethiopian worthy of the name would object to the beautification of their capital or, under normal and well-thought-out circumstances, joining a free-market system. However, as always, Abiy's government congratulates itself for putting the cart before the horse. Disappointingly, those who should know better cheer him on.