Zimbabwe: IMPLOSION SLO-MO

BTTB

BTTB

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Zimbabwe: IMPLOSION SLO-MO. HOW LAND POLICY IN ZIMBABWE LED TO RUIN.

2 quotes from the article entitled IMPLOSION SLO-MO in the Financial Mail

But while many problems cited by the IMF and others are important, they do not provide a full explanation of how a country can lose 50 years of economic progress in only five years. In fact, the collapse can be traced to a single policy: the fast-track land reform programme, under which the Mugabe government, beginning in 2000, seized thousands of white-owned commercial farms, leading to a sharp drop in agricultural output. The other "inappropriate" policies adopted by the Mugabe government added to the damage, but they were not the underlying cause.
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Unfortunately, several countries continue to ignore this lesson. In SA, President Thabo Mbeki expressed interest during his latest state of the nation speech in revisiting the "willing buyer, willing seller" principle for land
redistribution. The government is expected to begin expropriating farmland at state-determined prices this year, part of a broader attempt to address the economic inequalities inherited from apartheid.

Deputy president Phumzile Mlambo-Ngcuka agrees that the pace of land reform should be accelerated. "There needs to be a bit of oomph," she said in a 2005 interview. "That's why we may need the skills of Zimbabwe to help us."

SA, and other countries considering land reforms, should pay heed to the disastrous experiences of Zimbabwe before plunging ahead.
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I suggest everyone should read this article by Craig Richardson.
It is a bit lengthy so grab a sandwich and a cup of coffee.

President Thabo Mbek and Deputy president Phumzile Mlambo-Ngcuka should know better to make statements as above.
President Mbeki with a Degree in Economics is certainly no fool and should heed the lessons of the disastrous land reform programme of the Dictator President Robert Mugabe and Deputy president Phumzile Mlambo-Ngcuka should have a little more tact in her statements as clearly there is no skills to learn from Zimbabwe other than poverty and squalor.
The ANC should rather change their travel destinations to go see first hand the stuff up next door before they embark on anything that may resemble more Oomph.
 
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BTTB, you going to be labelled a racist for this post. Oh wait i don't think they would call a mod a racist, or would they ?? :D
Those who forget the past are doomed to repeat it !!
 
craigsa said:
BTTB, you going to be labelled a racist for this post. Oh wait i don't think they would call a mod a racist, or would they ?? :D
Those who forget the past are doomed to repeat it !!
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Hi CraigSA. :)
Nothing Racist in the report.
I think Craig Richardson's article hit the nail on the head.
A countries economics are all finely interlinked.
Fiddle with on sector and it effects all the other sectors.
In the case of Zimbabwe, Mr Richardson has summed up how the whole country fell apart and has concluded that it can be attributed to one thing and that was the seizure of commercial farms. Nothing more, nothing less.
We all know it. The ANC know it.
They just need to accept that Zimbabwe is in ruins, because they killed the Goose that lays the Golden Eggs.
The ANC may not like The Boere, but give them their due they know how to farm.
 
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I read that report in the FM the day it came out. It is litraly like watching building colapse with timed detonations. They explain in great detail how ALL the problems that is causing the total colapse of that country traces back to their land reform when they even just started "saying" they where gonna do it.

Basicaly the crux is Stock Market Boom-> Land reform Talks - > Stock market shrink -> Land reform and land grabs begin -> Stock market shrink -> Court rules land grabs ileagal -> Mugabe ignores rule of law -> Stock market disapears -> Law changed so you can no longer own land -> now banks don't give loans because ppl cannot give their property as assuraty (this is accross the board from bussiness to farms) -> Rural farm workers move to cities because 60% of the population employed by farmers are now out of work -> PPL don't have money to buy goods from businesses -> bussinesses lay off ppl -> bussinesses go bust -> banks go bust -> and here we are.

The article includes allot of other things like their currency's rapid devluation and some of the dumb things they did to try and stop it.

Overall its one of the better articles. Very insightfull.
 
What is interesting about this article is that it highlights the bases of all economies in the entire world; which is property rights. If you don't have property rights it all breaks down.
 
craigsa said:
Just kidding BTTB. :D
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Yeah I know.

Vio said:
I read that report in the FM the day it came out. It is litraly like watching building colapse with timed detonations. They explain in great detail how ALL the problems that is causing the total colapse of that country traces back to their land reform when they even just started "saying" they where gonna do it.

Basicaly the crux is Stock Market Boom-> Land reform Talks - > Stock market shrink -> Land reform and land grabs begin -> Stock market shrink -> Court rules land grabs ileagal -> Mugabe ignores rule of law -> Stock market disapears -> Law changed so you can no longer own land -> now banks don't give loans because ppl cannot give their property as assuraty (this is accross the board from bussiness to farms) -> Rural farm workers move to cities because 60% of the population employed by farmers are now out of work -> PPL don't have money to buy goods from businesses -> bussinesses lay off ppl -> bussinesses go bust -> banks go bust -> and here we are.

The article includes allot of other things like their currency's rapid devluation and some of the dumb things they did to try and stop it.

Overall its one of the better articles. Very insightfull.
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Good Post.
 
People only see what they want to see. You can show them all the facts in the world and it won't change their minds. Politics, like religion, are centered on beliefs not facts.
 
icyrus said:
People only see what they want to see. You can show them all the facts in the world and it won't change their minds. Politics, like religion, are centered on beliefs not facts.
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Adam and Eve VS Evolution
 
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Deputy president Phumzile Mlambo-Ngcuka agrees that the pace of land reform should be accelerated. "There needs to be a bit of oomph," she said in a 2005 interview. "That's why we may need the skills of Zimbabwe to help us."
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Clunk - my jaw looking pretty bruised after these few days of constantly hitting the floor.

:eek:

And now Bob wants them back.

:eek:
 
This site is indeed very interesting - thx for the links BTTB :)

It is indeed amazing on how a country can stuff so quickly - all in the name of 'land reform'...a clear euphesim for racism. However most people in Zim probably don't support him anymore (hence all these attacks on MDC supporters) and have no "emotional" politics that the ANC is based on.
 
kilo39 said:
Clunk - my jaw looking pretty bruised after these few days of constantly hitting the floor.

:eek:

And now Bob wants them back.

:eek:
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Deputy president Phumzile Mlambo-Ngcuka agrees that the pace of land reform should be accelerated. "There needs to be a bit of oomph," she said in a 2005 interview. "That's why we may need the skills of Zimbabwe to help us."

That is indeed an inept statement coming from the Deputy President.
But this is the same person that "declared" the Zimbabwe Elections Free and Fair. So it figures.

Bob. He will have to knock on the doors of Botswana, Mozambique and just about every other African Nation that saw the opportunity to grab some veteran farmers.
Recently heard that Mozambique had their first Tobacco Auction recently.
Doesn't take much to figure who was behind that one?
Botswana is offereing 99 year leases to Zimbabwe Farmers. All they have to do is get themselves to the border and the Botswana Authorities are taking care of the rest.
 
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Botswana is offereing 99 year leases to Zimbabwe Farmers. All they have to do is get themselves to the border and the Botswana Authorities are taking care of the rest.
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Me cries.
 
BTTB said:
Soon the Botswana Pula will be twice the value of the Rand.
Cry some more.:p
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Dries tears (wipe) Me wonders what connectivity is like in Botswana?!
 
Just BTW, the pula has been stronger than rand for ages, althougn not twice as strong [at one stage it was though]

http://wwp.greenwichmeantime.com/time-zone/africa/botswana/currency.htm
TODAY:
1 US Dollar = 5.56433 Botswana Pula


--[back in time]
Saturday, January 1, 2005

1 US Dollar = 4.28082 Botswana Pula
1 Botswana Pula (BWP) = 0.23360 US Dollar (USD)
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Actually that site is fun :
Tuesday, January 1, 2002

1 US Dollar = 12.15000 South African Rand
1 US Dollar = 6.30915 Botswana Pula
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So should've cried already ;)
 
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Heck when SA was sitting at like R13 to the $ , Botswana was coasting along at 5 to the $
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(I have read) Botswana is cited as being one of the most democratic countries in the world - and rich.
 
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