BEE will help boost economic growth: Davies

[Haldex]

So, you think someone who would spend recklessly at first (and thus get into an uncontrollable debt spiral) as a good thing?

Their spend, and ultimate benefit to the economy will be no different as long as the salary between the BEE candidate and non-BEE candidate are the same. If anything the less reckless spender would be a better driver of economic growth as they would be saving money which would give the financial institutes more capital to leverage off to fund businesses etc.

2008 debt crisis woke up a lot of people.
We all spend recklessly at first.
Economic growth is hardly affected by money on the bank. Banks are the devil.
A healthy savings account is good.

Majority of the minorities are saving up for dooms day lol. Not good for the economy. Not good good for business. Not good for foreign investment.

 

[saksakgp]

You confusing AA wih bee

Employement equity(aka AA) is one of the codes of BEE, so you are the one who is confused. BEE is not just about ownership. (Note to Gary, this is not a personal attack - just a statement of fact)

 

[ToxicBunny]

2008 debt crisis woke up a lot of people.
We all spend recklessly at first.
Economic growth is hardly affected by money on the bank. Banks are the devil.
A healthy savings account is good.

Majority of the minorities are saving up for dooms day lol. Not good for the economy. Not good good for business. Not good for foreign investment.

You clearly have no idea how a large economy actually works, thank you for showing us that.

 

[jambai]

BEE would boost economic spend.
More earnings means more spend.
More spend more taxes.
More tax, more investment to infrastructure.

More money for gov to waste ?

 

[jambai]

In the grand scheme of things the bee candidate would be from a relatively disadvantaged background. His spend would be different from an advantaged person. While his spend would be more reckless at first, he's spend would have a higher injection into the economy. He would also be the new bread winner in his family, essentially stimulating spend amongst the household.

So what you saying is that more money will be spent on cars and clothes in SA.Very sustainable?

 

[Haldex]

So what you saying is that more money will be spent on cars and clothes in SA.Very sustainable?

Nope, you saying that.
Lol your racist tendencies coming out.

 

[Haldex]

You clearly have no idea how a large economy actually works, thank you for showing us that.

Sigh.
Money will always be in someone's bank.
You clearly struggle to understand how BEE can boost the economy.
Your type just like to complain and ridicule, only you pay taxes while 60%+ don't pay taxes, BEE can level it out.

 

[supersunbird]

In the grand scheme of things the bee candidate would be from a relatively disadvantaged background. His spend would be different from an advantaged person. While his spend would be more reckless at first, he's spend would have a higher injection into the economy. He would also be the new bread winner in his family, essentially stimulating spend amongst the household.

What he spends on will be different perhaps but all money would end up in the economy somehow (and savings in the bank actually does improve the economy since liquidity for banks to borrow money for enterprising activities is better or investments that give a dividend and interest income which will enable the investor to buy more stuff and thus stimulating the economy).

I find your assertion (as well as the ministers) that there will be a boon to the economy unlikely, except if it is conceded that the non-BEE person is more likely to start a enterprise of some kind to survive compared to the BEE person.

The only thing that will improve the economy is having incentives that promote economic activity and growth, no matter the racial classification of a person.

 

[Drake2007]

BEE can boost the economy.

economy definition: the careful use of money, products, or time so that very little is wasted.

 

[Chevron]

Sigh.
Money will always be in someone's bank.
You clearly struggle to understand how BEE can boost the economy.
Your type just like to complain and ridicule, only you pay taxes while 60%+ don't pay taxes, BEE can level it out.

Um no. All BEE does take a job from a white person to give to a black.

Stimulating the economy would require creating a bigger pie. Not just sharing it differently.

 

[bekdik]

Um no. All BEE does take a job from a white person to give to a black.

Stimulating the economy would require creating a bigger pie. Not just sharing it differently.

Shuffling deck chairs on the Titanic comes to mind.

 

[jambai]

Nope, you saying that.
Lol your racist tendencies coming out.

I did say clothes and cars as part of reckless spending ,unless you want to define what reckless spending is.Seems to be a touchy issue if you need to bring in the race card.It is a well known fact that people of all races buy cars they cant really afford in SA.The issue is that it probally makes a few people rich but that money could be reinvested with a better return somewhere els in the economy like good entrepreneurs would.

 

[jambai]

2008 debt crisis woke up a lot of people.
We all spend recklessly at first.
Economic growth is hardly affected by money on the bank. Banks are the devil.
A healthy savings account is good.

Majority of the minorities are saving up for dooms day lol. Not good for the economy. Not good good for business. Not good for foreign investment.

with a comment like that ,hope you never run your own business.
according to your logic:Saving is not good and not good for foreign investment.

Okay so how does a country grow then without investments as investments are essentially somebodys saving?

 

[DreamKing]

2008 debt crisis woke up a lot of people.
We all spend recklessly at first.

that is good for economic.

Economic growth is hardly affected by money on the bank. Banks are the devil.

:wtf:

A healthy savings account is good.

good for what?????

Majority of the minorities are saving up for dooms day lol. Not good for the economy. Not good good for business. Not good for foreign investment.

WTF are you talking about?

 

[Vrotappel]

BEE would boost economic spend.
More earnings means more spend.
More spend more taxes.
More tax, more investment to infrastructure.

Success stories boet?

You cannot spend your way out of poverty.

 

[Vrotappel]

The cannots:


You cannot bring about prosperity by discouraging thrift.
You cannot strengthen the weak by weakening the strong.
You cannot help little men by tearing down big men.
You cannot lift the wage earner by pulling down the wage payer.
You cannot help the poor by destroying the rich.
You cannot establish sound security on borrowed money.
You cannot further the brotherhood of man by inciting class hatred.
You cannot keep out of trouble by spending more than you earn.
You cannot build character and courage by destroying men's initiative and independence.
And you cannot help men permanently by doing for them what they can and should do for themselves.

 

[SSung]

In the grand scheme of things the bee candidate would be from a relatively disadvantaged background. His spend would be different from an advantaged person. While his spend would be more reckless at first, he's spend would have a higher injection into the economy. He would also be the new bread winner in his family, essentially stimulating spend amongst the household.

???

 

[Redeemed]

DA supports B-BBEE bill

The DA supports the Broad Based Broad-Based Black Economic Empowerment (BBBEE) Amendment Bill. The Bill has the potential to promote redress, decrease inequality, and promote economic growth and job creation. This is in line with the DA's belief that Reconciliation, Redress, Diversity, and Delivery are the most appropriate measures to redress the injustices of apartheid.

Good to see the DA and government agreeing.