[opinion] Economics 2021: Shifting South Africa’s debt burden on to the black middle class

Everyones-a-Wally

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It is difficult to talk about economics in South Africa without talking about race. The persistent legacy of apartheid means that economic realities were baked into the racial composition of our country and racial inequity is baked into our country’s economic structure. This pattern largely persists, like yeast that permeates a lump of dough.

So, while it is necessary to talk of economics in economic and numerical terms, such as GDP growth rates, fiscal deficits and sovereign debt levels, it is inevitable in our context to arrive at conclusions about their socioeconomic outcomes for particular race groups.
 
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kolaval

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I've said it before, the ANC cares as much for their own people as the apartheid government did.
The only hope this country has, is the black populace standing up against the corruption.
AFAIK that is not happening yet.
It's still to easy to say "apartheid" and not be held accountable.
 
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Solarion

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You voted for them so now you must pay for their mistakes. White people didn't vote for them so why must white people keep their gravy bowls topped up?
 

Milano

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You can judge a person by the friends they keep. Same goes for the ANC. Friends of the ANC include Cuba, Venezuela, Zimbabwe, Mozambique. The ANC should find better caliber friends. But then again if you look at the caliber of the ANC, who else would have them?
 

krycor

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You voted for them so now you must pay for their mistakes. White people didn't vote for them so why must white people keep their gravy bowls topped up?

True.. but also true is that there was never a settlement of debt reached for the past was there? It all got folded into the state which took a pay-as-you-go approach.

Personally I think the German way would have been better.ie put the debt in the books, currency goes to shot and everyone suffers while fixing the country. of cause doing so would mean a larger exodus pre-94.
 

Everyones-a-Wally

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The answer would have been to give people the opportunity to be part of the solution instead of posturing and implementing a flawed / weak BEE system. BEE should always have incorporated an incentive based skills transfer system. Instead it was the stick approach and we all know how that went.
 

rvZA

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The persistent legacy of apartheid

The legacy of Apartheid only persisted in the mind of those who still want to believe that it is the current cause of decline. Also, the mere fact that the ANC was so hell-bent on establishing a modern-day 'enemy' which enabled them to continue looting without any resistance. Apartheid has nothing to do with modern day problems in South Africa.

A bad communist government is the sole cause of the problems faced today. Yes, their bad laws like AA, BEE, labour laws, their Constitution and minions in courts chased away all experienced and trained people from the country. This has caused the collapse of the economy. And, yes, unfortunately, if the ANC still wants an economy with tax revenue, they will need to find it all from those left behind. It may not necesarilly be the black middle-class, it may also need to happen at the poorest of the poor.
 

friedpiggy

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This whole "Legacy of Apartheid" nonsense is starting to make me a bit angry. Look at Japan post WW2, they had 2 frikken nukes dropped on them, the majority of their cities were flattened, there was almost no food in the country and people were starving to death. 20 years later they were a powerhouse. The same thing with Germany (minus the nukes). Look at the photo's of Singapore posted in another thread. Look at Dubai.

It is more than possible to build a country from nothing in 20 years if the rulers are there with the best interests of the country at heart. In SA, the reason we have gone backwards has got sweet fanny Adams to do with Apartheid and everything to do with the people in positions of authority since 94 and I include Mandela in that as he could have shut down JZ with a word.
 

Mila

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Not just the black middle class.
what these articles are doing is trying to make out that only blacks are suffering.

everyone ( except the cadres) are suffering because of bad politics
 
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