South Africa is on a path of destruction and is on its way to becoming an “unhappy country” like Zimbabwe and Venezuela.
This is the view of Efficient Group founder and chief economist Dawie Roodt, who was speaking at an event hosted by the Free Market Foundation.
Roodt said that while unhappy countries – where their economies are destroyed – are not all the same, there is a similar pattern on how the economic destruction takes place.
Destroy the existing capital in the country.
Frighten the taxpayers by continuing to increase taxes.
Scare savers by targeting their money.
The country tries to inflate itself out of debt.
Roodt said the destruction of a country’s economy always ends the same, with high levels of inflation.
Destroy existing capital
Roodt said the first step to destroying a country’s economy is when politicians start to destroy existing capital.
He said Eskom is a good example, where a well-functioning and valuable company
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