Middle-class South Africa is drowning

Mirai

Honorary Master
Joined
Oct 21, 2017
Messages
11,241
The fat cat mybroadband community can afford to snigger, but I suspect it is grim news for others.

There are diet and exercise plans out there one can try. Don't give up hope. That ballerina physique need not be a moment lost in time.
 

grok

Honorary Master
Joined
Dec 20, 2007
Messages
28,671
Weren't we warned about all this? No wonder those that can are fleeing..
 

koeks525

Executive Member
Joined
Jul 14, 2012
Messages
5,315
I feel like people who took advantage of the low interest rates during the initial stages of the COVID-19 pandemic should have seen this coming. I don't have a home or car that I am financing, but I knew then that "what goes up must come down eventually". I do have faith in the SARB's monetary policy; these rate hikes were inevitable and in-line with the current times.

As a result, two-thirds (66%) of the average middle-class salary goes to servicing debt.

What keeping up with the Jones's does. So sad, but not surprising since people drowning in debt is good business for banks and other financial institutions.
 

maumau

Honorary Master
Joined
Aug 13, 2009
Messages
20,267
Biggest killer is rent, food and transport.

Agreed but I think we could face them head on were it not for rolling blackouts.

These power and more lately water cuts are carving out our souls.
 

theBlueWater

Active Member
Joined
Aug 22, 2021
Messages
70
Humour of voting for the same team which lead to that drowning. It's funny I suppose.
Specifically the tough situations we are going through. We all have an opportunity next year to cast our votes and make our voices heard and if we turn up in enough numbers, all of this can just be a bad dream, and if we don't or we vote for the same circus, nothing changes and all the "fat cats" on this platform leave the country rendering it absolutely worthless with not much tax payers to fund any initiatives. Until then, humour is the only thing that will get us through these difficult situations .
 
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