Posts tagged with 'economist'

 

SA Facing Winter of Phase 4 & 5 Rolling Blackouts as Unmaintained Infrastructure Accelerates the Country’s Collapse!

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South Africa is headed for a winter of discontent, not only due to the badly managed Covid response, but it has surpassed yet another point of no return with phase 4 and 5 load shedding coming, due to infrastructure crumbling from lack of maintenance. Energy expert Chris Yelland, director of EE Business Intelligence, has said load shedding will only worsen this winter.

The situation is especially dire in Johannesburg where residents are suffering additional power outages, as a direct result of the City’s crumbling infrastructure, besides those imposed by Eskom.

Some families in Johannesburg have to survive for a week or more without any electricity because City Power’s electricians can’t cope with all the outages caused by decaying and crumbling infrastructure and illegal connections caused by years of ANC mismanagement.

Many residents of Johannesburg were also without water this week because the lack of electricity also means water pumps can’t fill up water r
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VIDEO: US Secretary of State Mike Pompeo Asks South Africa To Stop Cuba’s Human Trafficking of Cuban Medical Workers & to Pay Them Directly!

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In a scathing indictment of the ANC regimes communist credentials, US Secretary of State Mike Pompeo has asked South Africa to stop the Cuban dictatorship from turning a profit from human trafficking of Cuban medics, and to pay them directly and not to pay the Cuban regime which takes most of their earnings.

Like the rest of the global communist movement, the regime in Havana has taken advantage of the COVID-19 crisis to continue its exploitation of medical workers. Pompeo thanked those countries that refused to turn a blind eye to these abuses and said no to them, or even returned the Cuban medics like Ecuador, Brazil, Bolivia and others did. He also asked others to do the same which is when he specifically mentioned South Africa and asked them to do the same. He said we must protect our medical workers now more than ever and governments who accept Cuban medical workers MUST pay Doctors directly, NOT via the Cuban dictatorship or the W.H.O. otherwise they are helpi
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How Much Has ANC Paid Cuban Medics? Cuban Dictatorship Keeps Most of Doctor’s Earnings, Making TWICE as Much from Sending Medics Abroad than from Tourism in 2018!

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Follow The Money: The Wall Street Journal labelled Cuba’s international “Doctor Diplomacy”, where the Cuban regime keeps up to 90% of the doctor’s earnings from abroad, as Cuba’s slave trade. Cuba earned $6.3 Billion Dollars for medical services in 2018 alone, which is twice as much as Cuba earned on tourism! It appears the Cuban doctors coming to SA to “help” is once again another Socialist scam to redistribute Emergency Fund donations and Taxpayer’s money to their fellow comrades, in the guise of civil services! South Africa has many unemployed well educated and qualified doctors and medics, however they are white and therefore it is illegal to employ them, besides, many of these whites fought against the commie Cubans in Angola and South West Africa…

Since the CCPvirus pandemic spread from China, Cuba has sent more than 1,200 doctors and nurses to the frontlines of the battle against the virus to 22 countries, mostly into African and South America Socialist/Com
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Foreign investors sell R25bn worth of shares in SA

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According to economists, investors are preparing for D-day for Eskom. South Africa is currently doing better in financial terms than Nigeria, Turkey and Lebanon.

Foreign investors have sold more than R25bn of the country’s shares and the Rand is among the five worst performing currencies against the Dollar.

Even Ramaphosa acknowledged that the situation at Eskom was untenable. Meanwhile, Gwede Mantashe says that SA does not have an energy crisis, but does have an energy problem!

Political analysts point out that the problems caused by Eskom will eventually lead to downgrading to junk status, and that jobs will reduce even further thereafter.

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Durban mayor’s logic is questioned – wants to close Durban port to become independent of Western imperialism

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The Durban mayor announced over the weekend that the Durban port should be closed to prevent minerals from leaving the country.

This must apparently be done to become independent of Western imperialism. No word has been spoken of China and the Brick countries exporting minerals.

Mike Schüssler questions the logic, as mining houses without exports would not be able to pay workers and workers could not take money home.

Without mineral exports, the economy as a whole would go under and the existing weak economy would have been already in a deep depression.

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Planned mass strike in banking sector blocked after interdict was brought to stop between 30,000 and 40,000 workers striking

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Trade union Sasbo and its trade union, Cosatu, are not allowed to continue their planned mass strike in the banking sector on Friday.

Various reports were doing the rounds as to what and when the bank staff would strike and speculate on what their effects would be on the country and its people. Economists have pointed out that this country, which is crippled by its heavy debt burden, cannot afford such a strike and that strikes will not change banks’ decisions to lay off staff.

In the end, the banks were given an interdict which states that the strike will be unprotected but also prohibited as an illegal act. Cosatu trade union, as well as other trade unions such as Sasbo, were called to trial by the court and experts say the unions that have no idea of economic realities were stopped in the right time and in the right way.

Judge Hilary Rabkin-Naicker granted an interdict against the strike in the Labor Court on Thursday.

“Any strike action by Cosatu or Sas
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SA taxpayers are among the highly taxed in the world – and it could get worse

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Economists say we will most likely see an increase in personal tax and the fuel levy, as government tries to ramp up tax collection.

They say government is running out of options to raise money after SARS missed its collection targets over the past few years.

Analysts say it’s now a certainty that SARS will miss its collection target yet again.

Last year the revenue service missed its target by R57-billion.

South Africa’s per capita economic growth remains negative, with the economy expected to grow by less than a percent this year, while the population has grown by 1.6 percent.

Corporate tax has plummeted over the last few years.

And the recent increase in VAT is failing to close gap.

“We have to collect extra taxes and that’s the problem, so those extra taxes are more than likely to come from personal income tax which is also a high burden already,” says Eonomist, Mike Schussler.

Schussler says taxpayers are already paying more tax.

This, a
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The ANC is coming for your pensions to fund bankrupt SEO’s

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Well-known economist Mike Schussler has warned that the ANC wants to use your pension money to fund bankrupt state-owned enterprises like Eskom and SAA.

Speaking on The Big Liberty Show, Schussler said the planned prescribed assets policy will give politicians control of pension funds and where this money is invested.

The policy of prescribed assets was introduced in the ANC’s 2019 election manifesto where it states it will:

“Investigate the introduction of prescribed assets on financial institutions’ funds to mobilise funds within a regulatory framework for socially productive investments…”

In simple terms, it means that financial institutions will be forced to invest a certain percentage of their assets in certain sectors or companies prescribed by the government.

Warning from fund managers
Sygnia CEO Magda Wierzycka said prescribed assets are a blunt instrument and that the ANC has only engaged minimally with the
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Economist says Zuma government cost taxpayers about R470bn – What a waste of good money!

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Nedbank chief economist Dennis Dykes says the Zuma regime has cost South Africa R470bn.

Dennis Dykes says they have done a thorough calculation that is South Africa’s loss due to corruption, maladministration and distorted policies in Jacob Zuma’s second term.

He says there was an estimated loss of R140bn due to taxes lost and now having an impact on the economy.

He also points out that government debt would also have been 49% less, amounting to R250 billion.

The amount lost in the latter half of Zuma’s regime is greater than Eskom’s total debt burden.

In response to the interview that appeared in Business Day, a businessman from Pretoria was merely saying, “Zuma, you bastard.”

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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