South Africa now has the worst unemployment in the world according to Bloomberg, and now falls among other disastrous countries such as Colombia, Cuba, Syria and Venezuela. For all Ramaphosa’s nice speeches and promises, he does not understand that one main goal of a good government, is to establish an economy, which gives the people of the country the opportunity to make an honest living. The ANC government is not doing this at all. They set an example of corruption and immaturity. Corruption does not build an economy. Looting is just that. It builds nothing. And then the ridiculous reasons put forward: free housing, free education, free everything, which only exacerbates the above. And if ANC supporters do not get it for free, they throw a tantrum like a toddler, and burn down everything they see.
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Unemployment in Socialist SA Highest in the World and Apparently Contributes to Riots and Looting!
#LetThemEatCake SA in crisis while ANC & black elites eat cake, celebrating its 108 years
The ruling Anc party,was holding a rally in Kimberley celebrating its 108 years.This celebration, which is usually accompanied by a jovial mood of song and dance by party leaders, members and supporters, happens during a time when the country has been plunged into several crises of epidemic proportions. Can the ANC really afford to celebrate?..
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ANC regime has driven SA to junk status – GDP drops by 0.6% in 3rd quarter – SA is going to struggle to get rid of its economic crisis
The financial decline that continues in South Africa has given the business sector reason to become more concerned about future business activities in most business areas. Gross Domestic Product (GDP) declined by 0.6% in the third quarter of 2019, according to the Statistics Service’s report. Calculated on a year-to-year basis, this is seen as a..
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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy
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..
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S&P Global, which downgraded SA to junk status, warns ANC government that it will not be easy to restore land
The ratings agency S&P Global, which has legitimately downgraded the country to junk status, since 2017, has warned the ANC regime, saying the path of recovery is not reachable with the clap of fingers. The agency also points out that the possibility of another downgrade in two weeks is not ruled out because of the..
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Pull the generator closer and get those candles ready, Eskom #rollingblackouts will be with us shortly
Eskom expressed its disappointment over the decision of the rating agency Moody’s that further downgraded the bankrupt entity of the state. The Moody’s Investment Service downgraded Eskom from a B2 to a B3, which means the entity has no confidence in consumers or the rating agency. With the downgrade, Eskom is brought into line with..
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SA has a national debt of R3 trillion rand and tax deficit of R53 million
Following the disappointing mid-term budget speech by Tito Mboweni, the Rand reached its lowest level in weeks. Eskom’s rescue plan has nowhere really figured in either Pravin Gordan’s submission or Mboweni’s budget reason. The government’s financial situation is rapidly deteriorating with the national debt of R3 trillion and a tax deficit of R53 billion. Moody’s..
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Foreign investors sell R25bn worth of shares in SA
ANC regime threatens financial survival of SA, Government debt increases every day
The ANC government is extremely dangerous and threatens the financial survival of South Africa, as its eagerness to lend remains unsaturated. This is the opinion of an economic adviser following the SA Reserve Bank’s announcement that government debt is rising faster than provided by any institution. The government’s total loan debt has risen to a..
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Taxpayers will now have to bailout the Ramaphosa regime after Moody lost patience with SA’s poor economic situation and proposes a tax increase
The poor economic conditions, unemployment, little foreign interest, the land grab program, Eskom and other entities’ financial inability are all reasons why the country is in such a mess. Moody’s has pointed out to the ANC-regime that it will have to raise taxes to fix the mess at Eskom, which is the first step to..
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The Rand remains on a rollercoaster of volatility -the currency continued to weaken due to the heightened global growth risks after talk of financial bailout for Eskom
Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating. Foreigners have already begun dumping R2..
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Foreigners are dumping SA bonds at a rate of almost R2 billion ($132 million) a day as junk status looms
Investors have been dumping South African government bonds at a rate of almost R2 billion ($132 million) a day in August. With issuance increasing and a downgrade to junk a looming possibility, non-residents have sold a net R14.4 billion of the debt in August so far, according to JSE data compiled by Bloomberg. That’s an..
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National Health Plan is going to need at least R180bn to R250bn for 12-month spending – with SA’s faltering economy that’s a disproportionate amount
Implementing a National Health Plan does not mean, like Eskom, demanding a R50 billion from the government’s money it has collected from taxpayers. The reality is, too, that it cannot come into effect by making a slight upward adjustment in the personal taxes levied. The reality is that at least R180bn to R250bn will be..
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Economic recession awaits SA due to poor performance of the rand and begging mentality of state entities
South Africa’s economy is plunging into an abyss, and the recession looms on the doorstep of SA’s door. This is the opinion of an expert in Pretoria following the extremely poor performance of the rand and the begging mentality of state-controlled companies. The latest plea from the SA Airways, asking the ANC-regime for a R4..
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Junk status winks for Mangaung Metro with liabilities exceeding assets; officials receive generous salaries and cellphone stipends, while levels of service delivery are non-existent
The ANC-controlled Mangaung Metro faces junk status after Moody’s rating agency said further downgrading would be considered if the municipality do not urgently get its household in order. The Bloemfontein municipality is in truth already bankrupt with liabilities exceeding assets of nearly R1bn and with over R6bn of outstanding debt. In fact, Moody’s indicated..
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