South Africa risks deeper junk rating

No previous downgrade stopped them for heading down this road, why do you think they'll change anything this time?

Our Zimbabwe moment, as predicted.
 
Ratings Agencies don't riot in the streets and burn things to the ground, so the cANCer don't care about them or what they say and do. Their only mandate is to make the masses happy long enough to keep lining their pockets while there is still money to be had. After that, it is everyone for themselves.
 
I'd say we have about 2yrs to get out.. I'm hoping things stabilize abroad next year aug-sept 2021.

Rating agencies in the US may be a thing of the past if Trump gets his way because he would have done everything they penalize every other country for imo.
 
SilverCode said:
Ratings Agencies don't riot in the streets and burn things to the ground, so the cANCer don't care about them or what they say and do. Their only mandate is to make the masses happy long enough to keep lining their pockets while there is still money to be had. After that, it is everyone for themselves.
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Well more like after that with a youth unemployment rate >50% not expecting a civil war to erupt is highly optimistic.
 
Not sure it matters that much? The last downgrade was important due to the index issue. And even that barely moved the needle
 
Anyone here actually preparing for the worst economically for South Africa, or are you like a deer in the headlights, ostrich with it's head in the sand, just plain stubborn, or perhaps hoping for the best?
 
SoldierMan said:
Anyone here actually preparing for the worst economically for South Africa, or are you like a deer in the headlights, ostrich with it's head in the sand, just plain stubborn, or perhaps hoping for the best?
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What do you mean by preparing? Can you perhaps give some examples?
 
krycor said:
Rating agencies in the US may be a thing of the past if Trump gets his way because he would have done everything they penalize every other country for imo.
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That's not how it works. Ratings agencies regularly have reputational scandals of their own, but they still have clients because some people/institutions still want the service they provide.
 
ambroseg1 said:
What do you mean by preparing? Can you perhaps give some examples?
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Financially (gold, silver, dollars, euros, bitcoin, whatever you see fit, something other than the rand); safety wise (gun, etc.) when people get desperate and come a knockin'; sustenance (stocking up on some food that lasts at least 10 years, not cans that last 2 years, etc.); water, a borehole would be excellent, but if not then some 25L buckets or whatever you see fit. That's about the fundamentals.
 
SoldierMan said:
Financially (gold, silver, dollars, euros, bitcoin, whatever you see fit, something other than the rand); safety wise (gun, etc.) when people get desperate and come a knockin'; sustenance (stocking up on some food that lasts at least 10 years, not cans that last 2 years, etc.); water, a borehole would be excellent, but if not then some 25L buckets or whatever you see fit. That's about the fundamentals.
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A lot of investments have been moved abroad already. A lot people I know are actively disinvesting in SA and moving as much as they can abroad. My personal opinion is that hoarding precious items, food, water etc will just make you a target if things go the way you are suggesting and you will never be able to defend it without forming some sort enclave with like minded people.
 
does it matter? once you hit full junk and your head goes underwater at the sewage plant ... do you care how deep you sink?
 
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