Ho3n3r
Honorary Master
It already dipped below that at times at stages during the last 10 days of April.
-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: Do you think you could pass a driver's licence test without any preparation?
The ZAR Exchange Rate Thread
- Thread starter Robin Hood
- Start date
- Status
It already dipped below that at times at stages during the last 10 days of April.
Was referring to sustainable levels.
cerebus
Honorary Master
R15.36 now. Been going straight down today and yesterday.
Gtx Gaming
Gtx Gaming
SARB will have to hike the repo rate again on Thursday. Wonder they going with 0.25 or 0.5.
Problem for SARB is that the ratings agency to worry about, S&P, haven't released rating outcome yet and expected 3rd June while Moody's said they still watching so the outcome was not positive (changed outlook to negative). Tough times..
Lupus
Honorary Master
- Joined
- Apr 25, 2006
- Messages
- 90,327
- Reaction score
- 60,937
Because the last repo hikes really helped? Also the job losses that were experienced are a feature of this down fall as well. I mean 517 000 people more aren't working in the last quarter.
How, how would a downgrade help us at all?
He's saying it would take us from "we're fuct" to "oh, that's exactly how fuct we are"
Oh, yea guess reality check wise it would.
But what I don't understand is. This downgrade thing seems like a once you hit it you will never get back.
Because the way I understand is:
We get downgraded.
By law companies can't invest in us even if they want to.
We rely on then now we can't so out economy spiral into fck u.
Now we are in fck u.
How on earth is a country supposed to get out of it.
It feels like having sanctions against you locked out from the outside world while they expect you to keep up.
We've been junk before: around 1994 IIRC and Trevor Manual got us back into black.
Don't lie.
Serious?
Cause fck me the I can't wait till we get junk status.
Back then out economy was solid. And the zar was admiral
NarrowBandFtw
Honorary Master
Yes we were junk from 1994 to about 2001, this article has it plotted in a neat graph: http://businesstech.co.za/news/general/60553/sas-credit-rating-where-we-stand/
The big difference for me is in 1994 we were in uncertain times with much potential, now we are in much more certain times (i.e. there is little doubt that we are F-ed) without much potential. It's a much harder hole to dig ourselves out of when we become junk status this time around.
Remember that the road from '94 had interest rates of above 20%. Brace yourself for when the bond and car repaymenta double. That is how the reserve bank will re-attract capital inflows...
Won't help.
Ratings agencies see that the government keeps increasing spending while taxes in keep reducing. The gap keeps increasing along with higher than private sector salaries.
Only a corruption free clean president and cabinet will change our course. Highly unlikely.
Service delivery rioting and carnage will get more intense as people literally starve due to unemployment.
I highly recommend a superb book my R.W. Johnson called LONG WILL SOUTH AFRICA LAST
Online or is it readily available via the general book shops in malls?
Wait a minute.
A book written in 1977 about South Africa's economy can't be of much relevance today?
Read again.
He wrote the first one in 1977 which correctly predicted the sanctions and end of apartheid.
His second book written in the last year or so has the same name. It is this second book which predicts and maps out the fall of the ANC.
- Status