Since yesterday September 5, 2018 around 12:00 it was announced that South Africa is in an official recession. Nearly everyone read about it with great concern, but few realize exactly what it entails.
A recession suggests a phase of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. The current recession in the country was caused by the debate about land expropriation without compensation, which undermined a very principle of the freemarket system; and the full particulars of the thuggery and corruption from Zumagate now becoming public.
Continue reading…
