Posts tagged with 'Economy'

 

Billionaire Ramaphosa Says SA Economy is Racist? He’s Right! BBBEE Makes it Structurally & Institutionally Racist!

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Cyril Ramaphosa who became a Quadruple Billionaire by racebaiting, wants more, and has now racebaited the entire South African economy, by calling it racist and colonial, and has said the lockdown affords the perfect opportunity to “restructure” it. Is even MORE BBBEE possible, or is it concentration camps for whites now? The High Court however has put a spanner in the ANC’s works and declared the Level 3 and 4 lockdown regulations invalid! The person who seems to be really in charge at the moment, the lockdown Regulation Queen, Nkosazana Dlamini-Zuma (NDZ), otherwise known as Dr. Twak, has also made the same kind of comments about restructuring the economy, but to get rid of Cyril’s benefactors, the WMC.

While it may appear on the face of it to be
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ANC’s Totalitarian Lockdown Will Be More Damaging Than Covid-19 & Could Lead to Humanitarian Disaster – PANDA Actuaries

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The Treatment is Worse Than the Disease: Not only is non-compliance with the ANC’s draconian lockdown laws dangerous, but now a group consisting of South African actuaries, mathematicians, medical professionals and business people, called Data and Analytics (PANDA), has found that the expected loss of life due to the economic impact of continued lockdown will be 29 times worse than COVID-19 and related deaths. The group has found that the damage now being caused by the lockdown will be much worse than any expected overload on health services as a result of the Chinese CCP virus, had there been no lockdown. PANDA also pointed out that the total number of CCPvirus related deaths, according to epidemiological models, won’t differ whether there is a lockdown or not.

The point being made is that it is inevitable that people will die because of COVID-19, mainly because we do not have a cure. The total amount of COVID-19 related deaths will just be sprea
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Ramaphosa, ANC & Abdool Karim Want To Flatten the Economy, NOT The Curve, Because The Party & Socialism are More Important Than The Economy! COVID19: Converting Capitalism to Socialism…

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#CommunistVirus The CoronaVirus presents an existential threat in SA, but to who? After the landmark presentation with Salim Abdool Karim last week, we were left with a feeling that something was not right. Now this is normal whenever it comes to anything to do with the ANC regime, but it is usually quite obvious. As the infection numbers come in everyday I have realised the problem. Karim has inexplicably pegged the return to semi or normal life at a very low, impossible threshold. In fact he says so himself when he admits that we cannot escape the Covid19 epidemic and that the curve will increase. He is right, the CCPvirus is here to stay and like the flu, we will all have to come to terms with it sooner or later. Obviously later, with the benefit of a vaccine would be preferable, but 80% of us will survive just fine without one.

Despite this, Salim Abdool Karim set an impossibly low threshold for his exit of the lockdown stage, which was probably just to p
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De Ruyter has an impossible task of saving bankrupt Eskom

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The fact that Eskom is in a bad position is common knowledge, and this news are reaching investors abroad. The dire condition of SA’s economy makes investors hesitant to invest in the country since they will be risking their money in the maze.

After the ANC regime finally realized, after 25 years of mismanagement, that they needed to find a competent person to get rid of the mess, Andre de Ruyter was appointed to the unenviable position.

His statements about Eskom are by no means flattering, and how such an enormous debt burden will be worked out, providing constant, sustainable power to the whole country, was asked too much from one person.

His meeting with the Eskom directors on Wednesday is likely to deal with the many “unplanned maintenance” that needs to be done, and clearly shows that regular checking of equipment is not done.

This is one of the main reasons why Eskom cannot provide sustainable power supplies, and expe
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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy

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AfriForum today sent a letter to President Cyril Ramaphosa, Finance Minister Tito Mboweni and Minister of Health Zweli Mkhize warning the civil rights organization that the implementation of national health insurance (NHI) could eventually lead to the downgrading of the country’s credit rating to junk status .

This comes after the credit rating agency Moody’s recently downgraded South Africa’s credit rating from a stable to a negative outlook. The reason for this downgrade according to Mood is the bleak growth prospects and growing public debt. In its letter, AfriForum argues that unaffordable, ideological policies such as the NHI will lead to South Africa being downgraded to junk status, as the country simply cannot fund it.

“To continue with the implementation of the NHI will not only be disastrous for the South African economy; it will also inflate government debt to levels that will make it impossible to escape the downgrade to
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South Africa stuck in longest downward cycle since before Apartheid (1945)! Ramaphosa tries to talk it better…

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Neither communism nor multiculturalism has ever worked, yet South Africa is implementing both at the same time to disastrous effect! Now Ramaphosa has vowed to rebuild crashing confidence in South Africa’s economy, and desperate South Africans, who want concrete things that can make a difference in the economy, have no choice but to hope he does. He promised real actions that “move the needle,”  however in Africa accountability is not required.

After a decade of low growth and deepening poverty, South Africans are looking for signs of progress, according to President Cyril Ramaphosa. He pledged “concrete things” to rebuild confidence in the economy.

This year, the economy will record growth lower than expected, Ramaphosa said. The GDP growth forecast for 2019 has been revised by the National Treasury to 1.5 percent, from an estim
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Diamond sales at a record low $1 billion drop for current year

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The world-renowned De Beers Company is having an uphill battle in the world of diamond sales while the global economy looks less rosy.

With its seventh sales for the current year, it is already clear that the huge $1 billion drop in sales is indicative of a general slump in the diamond industry.

However, De Beers, who owns Anglo American, with 85% control, realized $ 280 million in sales for August, which is the seventh sales day of the year’s ten events.

De Beers is the world’s largest producer of uncut diamonds, but Russia is the largest, measured by carat production.

The economy is currently not favorable to the industry, as the drastic decline from last year’s $3.93 billion for the corresponding period of this year is only $2.91 billion.

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Unemployment rates rise to 27.6% and remain one of SA’s biggest challenges

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Statistics South Africa announces that unemployment rose by 0.5 percentage points to 27.6% in the first quarter of this year. The figures confirm economists’ presumption that economic growth in the first quarter was negative and unemployment remains one of SA’s biggest challenges.

The SA economy started on a bitter note this year with unemployment rising to 27.6% after being 27.1% in the fourth quarter of 2018. The number of people employed is significantly less than a year ago and declined by 86,000 people to less than 16.3 million people.

By contrast, the number of unemployed increased by 3.7% to 6.3 million and the number of discouraged job seekers by 7.5% to nearly 3 million. This means that nearly 9.2 million South Africans of working age are not in school, do not study further and are not voluntarily unemployed. The figures come from Statistics SA’s quarterly employment survey (QLFS) for the first quarter of 2019, but growth fig
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ANC cannot govern or grow the economy of South-Africa, the 25 years of destruction proves this fact – Only a change in government can rectify the situation

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During the Parliamentary debate on Fiscal Framework 2019/20: Over the last quarter of a century, the ANC has shown again and again that it cannot govern or grow the economy. Only a change in government can rectify the situation.

Until that happens, all attempts to cut state expenditure, like the announcement about reducing the salaries of Members of Parliament and provincial legislatures, are welcome. However, attention must also be paid to the system of salary increases and automatic performance bonuses paid to the senior management staff of all state departments. It must also be restricted seeing as it is a real problem.

The FF Plus says that the Cabinet must be made smaller and that the number of state departments must be reduced. The fast-growing wage bill must also be reduced by all means possible. In addition, there must be a spending ceiling that leaves no room for unauthorised expenditure.

Economic growth must be stimulated. Without it,
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