It could be - I just feel that a recovery is going to be slowed by those two factors.Think there was $8 billion disinvested from the JSE and BESA since October.
But has more to do with sub prime and world markets than with Zuma and Eskom.
Not too long ago the gold price was at ~$270...just think..the other day I saw it was at ~$930. That would have been some sweet selling there.However, if you invested in gold a few years back when it was around $400 per ounce, expect to make a killing now because it's set to skyrocket.
And Tito will raise ours - I am sure.$ = R 7.36
£ = R 14.65
€ = R 10.95
And the FED just lowered the rates again in the states. 2nd time in nine days! Trying to ward off what might become a worldwide recession.
I honestly can't come to terms with how SA justifies such a high interest rate. But atleast my loans in America are getting cheaper and cheaper each time they reduce the rate. Heck, my credit card is down to 8% interest on purchases! Not that I use it, but I could buy a house here on it at a lower rate than SA Home Loans!!!$ = R 7.32
£ = R 14.55
€ = R 10.88
Recovering slightly. Off yesterday's lows but not by much!
How can the interest rate in SA be so high, yet in the states it is now only 3%??