BUSINESS NEWS - It’s been a rather lonely and depressing journey to be one of the few financial commentators to be repeatedly pointing at the slowly-unfolding implosion of SA’s financial and economic fortunes, with dire consequences for all, but mostly for the poor and former middle class.
Even the rich have felt the impact of SA’s waning fortunes if one looks at the numbers. More about that later.
My articles, which can be read here, served as regular commentary on what I saw in the economic tea leaves: a Zuma presidency – with the full support of the ANC – doing untold and ever-lasting damage to the economic and financial infrastructure of the SA economy.
Go ahead, dear reader, and spend some ten minutes of your time to read these articles. You will also find articles on other media websites where I tried to warn the average-investor about the unfolding erosion of personal wealth.
Perhaps unravelling would be a better description.
One of the reasons I felt so strongly about raising these red flags was that, firstly, it was my honest and professional opinion but, more importantly, it seemed to me that there was almost a conspiracy of silence by the cheerleaders of the SA financial and investment world: the economists and fund managers.
I have written about this before, but being negative (even if it is your honest opinion), is career-limiting in SA, especially if you find yourself being employed as an economist for one of the large insurance companies, fund managers or commercial banks.
Step out of line and you could get the chop.
It became clear to me very soon after the Zuma administration took over in 2009 that the financial metrics of the country were starting to unravel, clearly as a result of a president whose only interest in the economy was to see how much money he and his party could extract from it: not to build or invest for the longer term.
