junk status | SA Radio .com

Unemployment in Socialist SA hits 44.4% including those who don’t want to work, which apparently contributes to Riots and looting!

Posted on 25/08/2021 Leave a comment

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.

The unemployment rate in South Africa rose to a new record high of 34.4%. The incredibly high unemployment rates apparently contribute to social unrest, and
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SA in crisis while ANC eats cake, celebrating its 108 years

Posted on 16/01/2020 Leave a comment

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? Can it afford to pop Champagne during such difficult times faced by the country?

Poverty levels are accelerating, inequality is deepening, unemployment levels have reached the highest percentage of 29.1% in the last quarter of 2019, the highest recorded by Statistics SA since 2008, with 9.6 million South Africans currently unemployed, 8.6 million of these being black.

The economy is battling to recover from a technical recession, with the country constantly facing a threat of being given junk status by rating agencies.

One of the major crises facing the country is the power utility Eskom, which has struggled to keep the l
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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

Posted on 05/12/2019 Leave a comment

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 downturn that the economy has now stagnated, thereby having serious consequences for job creation.

The government hoped for a 1.5% growth rate, but economists warned that the target could not be achieved if sufficient new jobs were not created.

South Africa is now in a junk status phase, and although Moody’s is the only rating agency still trying to hide it, it’s clear that in the next decade the country will struggle to get rid of its economic crisis.

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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy

Posted on 20/11/2019 Leave a comment

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 junk status in the foreseeabl
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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

Posted on 08/11/2019 Leave a comment

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 dire position in which South Africa finds itself.

The Managing Director of S&P Global Sub-Saharan Africa, Konrad Reuss, was a guest speaker at the Consumer Goods Council Conference in Johannesburg, which was held at the same time as Ramaphosa’s conference where billions of Rand’s promises were made, the bulk of which were made usually does not become reality.

Reuss emphasized that the agency could further downgrade the country in November’s assessment, which would further hamper investors and investment.

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Pull the generator closer and get those candles ready, Eskom #rollingblackouts will be with us shortly

Posted on 07/11/2019 Leave a comment

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 the poor performance of the ANC’s financial standing, and the distrust it creates at international and national level.

So the possibility exists that with the crisis management system, Eskom can once again start applying the load shedding system to alleviate its financial position, but the country will perish because of the impact it will have on the general financial position.

Late yesterday afternoon, Eskom acknowledged that it could reintroduce short notice “because the system is under pressure”, which is believed to be financial pressure.

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SA has a national debt of R3 trillion rand and tax deficit of R53 million

Posted on 05/11/2019 Leave a comment

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 is therefore expected to downgrade the country to negative from where it currently stands at stable.

However, there are fears that Moody’s will downgrade the country directly to junk status which will affect Government bonds as the Citigroup’s World Government Bond Index contains only investment-grade securities.

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Foreign investors sell R25bn worth of shares in SA

Posted on 22/10/2019 Leave a comment

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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ANC regime threatens financial survival of SA, Government debt increases every day

Posted on 26/09/2019 Leave a comment

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 breathtaking level of just over 58% of the annual budget.

Experts point out that South Africa has now reached the point where Moody’s can no longer turn its head, and even if that were to happen, it is an undeniable reality that the country has landed deep into the abyss of being subjected to junk status, and may not be coming out of it again soon.

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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

Posted on 26/08/2019 Leave a comment

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 a series of tax hikes.

With the SABC, Denel, SAL, Eskom, and several other entities failing to be a profitable industry as it was years ago, the regime is pushing to raise taxes.

The poor decision to launch a National Health Plan while the country is in junk status is considered to be one of the stupidest decisions the Ramaphosa regime has yet made, which will also lead to astronomical increases in taxes.

Moving out of professional corps such as doctors, nursing staff, lawyers and others is the strongest indication that the country is heading for an enormous crisis that cannot be reversed.

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