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Showing posts from August, 2024

South Africa's economy is in crisis

South Africa's economy is in crisis. The problems are going to take more than a few empty words by the left's favourite pres, Ramaphosa. It's structural, partly a tolerated and condoned holdover from apartheid, including social aspects, and partly deliberate decisions by the ANC (ideology) and business that affect the economy.  Declining private expenditure and investment aka fixed capital formation are the end result of the underlying structure or nature of SA society that's proving impossible to change.  Crime, entrenched corruption, poor education, poverty and inequality, which indirectly impacts crime, are almost entirely the fault of the ANC government. They had a window to address the legacy of apartheid but through hubris, incompetence - often plain stupidity that defies reason - and venality they cocked it up.  ANC incompetence - I still don't understand how anyone who's doing the same job for 30 years has still not mastered it and continues to mess up -...