Too Little Too Late
I wish I could be writing about positive news, but these days there is very little positivity in South Africa. They have been trying to hide things way from the rest of the world and now everybody is aware of the reality going on.
This week the World Bank rejected a R29 billion or $1.6 billion loan for South Africa. The World Bank said the SA economy is stagnant which I would call that kind words as it feels like it is shrinking. The problem is there are no investments happening and money has been leaving the country and the future outlook is looking very negative.
The problem is rather obvious and the World Bank for once suggested to the SA Government to do away with the racist policies of Black Economic Empowerment. For once the issue of racism is being faced head on and this is way over due. When you consider the government has been in power for 31 years and they have changed very little when it comes to the balancing of the country's wealth.
The BEE rules were put in place to help those who had very little and readdress the past injustices and all they have done is help enrich party officials and their friends and family. Using the guise of helping the masses they helped the elite get wealthier by cheating and playing the system they created.
What this stat really tells you is that there are no new jobs being created ad combine that with a overall unemployment figure of 34%. The 60% youth unemployment is 16-34 year olds. The problem of having open borders does not help either.
It is no wonder the country finds itself at the top of the global unemployment charts because investments have dried up and businesses have closed down and left. Shell shut up shop last year after a government consortium wanted to cash out their shares when the book value was no longer in their favor. They tried to hustle Shell by including the refinery which was no longer active in the valuations and Shell shut down and left leaving them with nothing.
When you consider the playing field rules a company has to adhere by it is a miracle any are left. Firstly you have to allow for 30% of the company to be owed by BEE, plus give them directors title positions even if they are not capable. This is to make the books look good and know of black directors in the past who never even visited the company they were employed by. This was theft on another level and companies just have had enough.
On top of this companies were told who to employ by the color of their skin and not by selecting the best candidate for the position. Many companies would still be around if their hands were not tied when it came to employment. In some extreme cases you had to employ contracted workers to do the jobs of employees who were incapable of doing the work. Contractors were deemed temporary so by passed the BEE regulations so a top position could have double the cost implications. This was one of the major factors why South Africa Airways was never profitable besides the corruption.
As an outsider looking in you could see the chaos and these were once top companies in South Africa who no longer exist. I could see on many occasions how much was being lost out the back end of businesses and when that happens it is already far too late and it is down to management who have no clue. I had 3 of my large clients disappear this way and one company had been running for over 60 years.
Only if they change does SA have a chance of turning their economy around and with world sentiment in the negative for SA these days that may be a tall order. Why has this taken so long to get to this point as this racist policy has been kept out the news and now everyone knows. I am just grateful that I can move my family elsewhere and have a plan outside SA.
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So the bank is the real problem. But not for control freaks because open borders means their flock goes smock. Better real in the cattle partner. How else is the economy going to get better if the slaves don't pay their masters for escaping. Grap the immigrants kidnap them and extort them for what they have. call them illegal so the faithful won't question it.
So you never read the post otherwise you would not have written this comment. This is not about illegal immigrants and you are a complete moron. Take some advice and read things properly or not comment at all.
I read it alright. I don't agree with all of it.
https://peakd.com/vyb/@dreamtales/you-think-youre-free-because-you-get-a-paycheck
You only read it after I called you out and for someone who is anti the down vote you should be doing far better and read things properly before jumping in. This is about racism and not migration.
Racism is not the problem to the dying economy they are facing.
You don't get it and understand this subject with the consequences it has created leaving people unemployed and in this case millions unemployed so I guess lets leave this now.
They caused the unemployment. The banks and the government. And the people fell for it hook line and sinker. The people also don't have to work with or do business with racist companies and institutions either.
New ones will take their place. Things will change for the better for a while once they do. And things will be ok for a while. Untill the masses figure out that their economic slaves, expect more of the same rinse wash and repeat.
You may think you are so smart, but you keep missing the point and are so far off it is scary. The companies are not racist, but due to racist policies have had to close down. I am done with this good night and please do not comment on my posts unless you understand the subject matter.
The companies are comprised of individuals. Individuals who are racist are running it. The non racist doesn't have to do business with them.
They brought this issue to themselves when they decided to exclude everyone but their own echo chambered collective.
Also your more than welcome to mute me as the comments section is public space. My comments are a mere extension of my own property which is my account.thank you very much. I'll comment as I please.
Again you are wrong on this point as they ae being told who to hire and for doing this are graded which allows them to compete for government contracts. Companies have had enough and are closing down and leaving. These are not being replaced either.
Not being replaced, yet.
Being told by who specifically?
The CEO? The private investors who hold the majority of the stocks?
The government running the country. They have a policy for hiring in order to achieve your status/grading points and you are fined and penalised if you don't abide by these rules.
And what have I been saying from the start?
The true culprits
It's not so much that you don't recognize that but you insist it's the policies themselves and not on what those policies are based on.
You think you know what the real issues are. Again, racism, policies, their just bigots and illegitimate and unethical rules.
But the choice was always there to disobey and for people to do their own thing.
Ah but the banks hold the cards to the main infrastructure of stocks to the main source of income for the whole country.
But their policies need adjusting.
Fuck the policies. Forget about it.
What is authority?
It doesn't exist. I have explained numerous times on many posts on what that is and how it cannot be.
If the people of this world do not get their heads together on the same page that it is wrong to be ruled, then we can then expect more of the same maltreatment of the worker class.
Indeed it has been the working force that has kept it's shelves full at the stores.
Location doesn't matter. Principal stays the same.
Which is why I can say with ease about what is happening over in SA because it is happening everywhere.
The Racism ploy is just a psyop.
It's such a sad human story (one of many of course) that a few people who should never be in power, get into power anyway and greedily siphon money off of everything, causing very hard lives for many, MANY other people.
I'm always so curious if those that are doing this ever let it cross their minds, the misery they are causing or if their intitled minds never entertain that for a second. I'm guessing the latter, I just can't imagine how.
No they do not care one bit for their people. This is why so may are uneducated as it is easier to control the illiterates. I have lived here for many years and hate how they treat their people. Most people here survive on less than $20 per month and is reason why the crime rate is so high. There would be jobs for everyone if they did away with racist policies that impact the entire economy.
Funny how corruption always seems to start with the best intentions
This is sad :( The fact that even in your own country you are not secured economically :(
This is sad:( That even in your own country you are not secured economically :( Leaders are the big factor on this.