It starts slowly at first, then accelerates quickly...
Nick Terry
C-Suite Executive | FMCG | Growth Driver | Marketer of Brands | Business Creator
If our Finance Minster was flying a plane he would be asking that now famous question "Hey, what's a mountain goat doing way up here in a cloud bank”
That mountain goat is our debt trap that the government has now put us in.
They have borrowed without thinking, without planning, without leadership. They have squandered almost every Rand that entered the government coffers. They have stood idly by whilst incompetent and corrupt officials, plus other outsiders, plundered the coffers. They make it hard to attract foreign domestic investment with all kinds of bureaucratic red tape. They don't have a plan, in spite of "consulting" with the private sector because they treat any conversation with the private sector as lip service. They have not maintained or treated any of our national SOE's as a priority to serve South Africans.
The solution last week was to add 2% to the VAT basket. This week it was to cut some costs in critical areas that can probably least afford it. Both options have been rejected.
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So now what? Print more money? I hope not, as that will be the surest way to plunge us into even more chaos.
They have to urgently change their mindset and behaviours towards economics, the global stage and the global players. They need to earn our place at the table as a country respected for sound economic policy, strong fiscal discipline and a measured view of how the world works. They must adapt and not keep pursuing some misguided ideology that has been proven to deliver poverty and financial despair. They must abandon the notion that they can do what they want, when they want.
The rule book is there to be read, studied and applied. The rule book clearly explains what will happen if one ignores being prudent, fails to apply good governance, is reckless with taxpayers money, employs weak leadership and acts with complete disdain to anyone who dares to criticize.
South Africa is at another infliction point and the acceleration is quickening I don't know where the calm and rational heads are. We need to reduce government spending first off. Reduce the headcount, reduce expenses, reduce non value adding projects, reduce international travel jaunts, reduce incompetence, reduce corruption. Focus on issues at home, not in other far flung lands. Act with urgency, act with intent and act in the best interests of all South Africans. Act now!
Well summarised, Nick, point well made. Thank you.