The death spiral continues. Once we have to get bailouts from the IMF they will hopefully start running the country.
Once upon a time, a man and his assistant appeared in a village and announced that he would buy hyaenas for R5 each.
The villagers, knowing there were many hyaenas, went to the forest and started catching them. The man bought thousands at R5 each and as the supply started to diminish, the villagers stopped their efforts.
He then announced that he would buy hyaenas at R10 each. This renewed the villagers efforts and they started catching hyaenas again. Soon the supply diminished and hyaenas became so scarce it was an effort to even find one hyaena, let alone catch it.
The man announced that he had to go to the big city on business and on his return would pay R50 per hyaena
His assistant told the villagers, "Look at all these hyaenas in the big cage that my boss has already collected. I will sell them to you at R20 and when my boss returns, you can sell them to him for R50."
The villagers rounded up all their savings & bought all the hyaenas for R700 million. They never saw the man or his assistant again, only lots and lots of hyaenas.
Because the man and his assistant were ANC bigwigs it's easy for us to see how a bailout is designed to work.