#UnrestSA: Retrieved goods must be destroyed for the sake of the economy, says Ntshavheni

rambo919

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This particular problem has nothing to do with the insurance problems. Two separate problems. This is a demand issue. Most of the looted goods were looted with the intention to be sold. This means the market will be flooded with double the number of goods with half the goods in mint condition at 50% off. In other words once retailers eventually get back in business they have a new competitor at 50% off. This would cause a massive hit on the demand side forcing business closures and further loss of jobs. Auctions would still hit the demand side.
That is only true in an economy where disposable income is not an issue..... which SA definitely is not. Second hand goods have always had a large demand.... and incomes are disappearing nvm disposable incomes.

Destroying everything might actually tank the economy faster than reselling it especially with the current global shortages which might lead to a scarcity economy in general not just in sections.
 

rambo919

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This is a very good point, it's the same reason buying stolen goods is a crime. You destroy the demand for legitimate, full-priced goods. Sure some people score cheap TV's but that means those people might not buy regular-priced TV's in future.
That only applies to the upper classes, the lower middle and lower classes almost exclusively purchase cheap and often inferior goods.

EDIT: They never would have paid "full price" anyway in most cases.
 

rietrot

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The difficult task of deciding what belongs to who already implies that even the insurance companies will have a hard time reclaiming the goods, some will but there will be something left that no one can claim.
You are just as confused as your minister.
 

Cray

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That only applies to the upper classes, the lower middle and lower classes almost exclusively purchase cheap and often inferior goods.
True, I disagree that they should be destroyed, but care needs to be taken not to suddenly flood the market with cheap things which would usually retail for a lot higher. Obviously, if the retailer gets paid out full price for their lost stock then that equates to a sale anyway but I doubt there is enough money in the insurance kitty to pay out full price for all looted items.

For things like foodstuffs and low-cost goods, would be happy if it was all donated to a local charity to share out to local communities.
 

rietrot

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This particular problem has nothing to do with the insurance problems. Two separate problems. This is a demand issue. Most of the looted goods were looted with the intention to be sold. This means the market will be flooded with double the number of goods with half the goods in mint condition at 50% off. In other words once retailers eventually get back in business they have a new competitor at 50% off. This would cause a massive hit on the demand side forcing business closures and further loss of jobs. Auctions would still hit the demand side.
People that buy new appliances will still buy new appliances. A large supply of secondhand/recovered stolen good has little to no influence on new goods.

You can already get secondhand goods for pretty cheap compared to new.

This is a nonsense argument.
 

nightjar

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It's to believe her almost matchless stupidity but I can see what might have prompted that attitude.
As with guns handed in to SAPS, she intends that much of the stuff will will go to comrades' homes/warehouses for use or sale and she probably wants an extra freezer or 60" flat screen.
A lot of income will accrue the the government through VAT, customs duties, transport etc and some of that will inevitably be siphoned off by cronies.
I wonder if she would support that idea if her own handbag with driving license, ID, credit cards etc or her car had been stolen.
 

rambo919

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True, I disagree that they should be destroyed, but care needs to be taken not to suddenly flood the market with cheap things which would usually retail for a lot higher. Obviously, if the retailer gets paid out full price for their lost stock then that equates to a sale anyway but I doubt there is enough money in the insurance kitty to pay out full price for all looted items.

For things like foodstuffs and low-cost goods, would be happy if it was all donated to a local charity to share out to local communities.
Nothing exists that cannot be donated to charities who have the expertise and knowledge on the ground to know which families actually deserve and need what.

Plans can be made.
 

Milano

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People that buy new appliances will still buy new appliances. A large supply of secondhand/recovered stolen good has little to no influence on new goods.

You can already get secondhand goods for pretty cheap compared to new.

This is a nonsense argument.
Economics is nonsense? As you wish :ROFL:
 

Milano

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True, I disagree that they should be destroyed, but care needs to be taken not to suddenly flood the market with cheap things which would usually retail for a lot higher. Obviously, if the retailer gets paid out full price for their lost stock then that equates to a sale anyway but I doubt there is enough money in the insurance kitty to pay out full price for all looted items.

For things like foodstuffs and low-cost goods, would be happy if it was all donated to a local charity to share out to local communities.
Insurance even if paid in full, does not pay retail price to retailers.
 

Senor

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She is one of the most active Ministers in cabinet, first time I saw her was during some xenophobic attacks in her role as minister of small business. She is also the one who put Malema in his place some time ago in Parliament.

It would require some effort of deliberately ignoring current affairs not to have heard of her.
My bad, actually thought it was a guy!
 

zophas

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South Africa ... We have a problem we cannot solve... therefore let us destroy something.
 

nightjar

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True, I disagree that they should be destroyed, but care needs to be taken not to suddenly flood the market with cheap things which would usually retail for a lot higher. Obviously, if the retailer gets paid out full price for their lost stock then that equates to a sale anyway but I doubt there is enough money in the insurance kitty to pay out full price for all looted items.

For things like foodstuffs and low-cost goods, would be happy if it was all donated to a local charity to share out to local communities.
RE - Obviously, if the retailer gets paid out
I read somewhere that 60 - 70% of the destroyed businesses were uninsured so partial recovery of their stock may make the difference between survival and failure.
 

grok

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She is one of the most active Ministers in cabinet, first time I saw her was during some xenophobic attacks in her role as minister of small business. She is also the one who put Malema in his place some time ago in Parliament.

It would require some effort of deliberately ignoring current affairs not to have heard of her.
Not really, seen one ANC minister, seen them all.

If the fools don't follow the collective are they even central command drones anymore? ie. if any one of then does any good are they even still an ANC minister?

For example: oh look an ANC minister concerned about the economy, she mad? How very DA of her.. ¯\_(ツ)_/¯
 

rietrot

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Economics is nonsense? As you wish :ROFL:
Maybe I was a bit harsh, but it is really not a valid argument.

New goods != secondhand goods.

It is two completely different market segments with little influence over each other.

So destroying the stolen goods to make way for new goods doesn't work.
 

TheChamp

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Not really, seen one ANC minister, seen them all.

If the fools don't follow the collective are they even central command drones anymore? ie. if any one of then does any good are they even still an ANC minister?
I think as usual you just felt compelled to respond to me, because I had no idea what you are trying to say.
 

grok

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I think as usual you just felt compelled to respond to me, because I had no idea what you are trying to say.
It has long been established that you are an ANC apologist, so don't stress big boy the message clearly wasn't for you, but those who can comprehend beyond the collective.

ps. I added an example for you, maybe now you'll get it. Either way, nobody cares about your inabilities.
 

Pineapple Smurf

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What qualifications does this idiot have saying these things? I hope more than a Primary School Diploma
 
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