Oh no Mr. President

[Dave A]

I am reminded of Marie Antoinette's rather famous comment upon hearing why the French peasants were rioting - Let them eat cake!

Ignorance must be such bliss!

Zuma: SA better than before

Johannesburg - South Africa is better now than it was before the dawn of democracy, President Jacob Zuma said on Monday.

"South Africa is a much better place than it was before 1994, and the last five years have pushed that change forward," Zuma told editors at a breakfast in Johannesburg.

"We have created more jobs, provided social grants... .These have grown from 2.5 million in 1993, to 16 million to date, which is regarded as impressive and progressive for a developing country," he said.

The South African economy had expanded by 83% in the past 19 years.

National income per capita had increased from R27 500 in 1993, to R38 500 in 2012, an increase of 40%.

Household disposable income per capita rose by 43% since 1994. Total employment increased by more than 3.5 million.
full story at Fin24 here

All good stuff - if we ignore inflation and population growth over the past 19 years.

[desA]

A true politician is one who believes his own delusions.

[Chrisjan B]

He's delusional in the extreme! He's so delusional that he can be called a moron!

[Blurock]

Yes, it is better now, as I am now living in a R200 million palace which cost me nothing!! I am flying around the world and I get a new, custom fitted aeroplane every few years. I am so involved in foreign trips that I do not have to concern myself about the small things that happen back home. Life is good!

[Hermes14]

All good stuff - if we ignore inflation and population growth over the past 19 years.

The main problem is when ever he opens his mouth the rand value drops.

[Chrisjan B]

And I pay 4 times more for my electricity, petrol price up......
All is good yes? NO MORON!

[Hermes14]

And I pay 4 times more for my electricity, petrol price up......
All is good yes? NO MORON!

I hear the price of petrol is going up again on 3rd July.
Make sure you fill up before the garages run out of petrol.

[Dave A]

Anyone know what the petrol price was in 1994?

[Chrisjan B]

http://chrislbecker.com/2013/02/22/the-petrol-price-since-the-end-of-apartheid/

[Blurock]

http://chrislbecker.com/2013/02/22/t...-of-apartheid/

I question this flawed way of thinking to compare our current situation to the apartheid era. It is common knowledge that the oil price have always been manipulated by the oil companies. View this short series by Al Jazeera to understand how cartel forming has influenced history and the way that wars have been started and fought.

http://www.aljazeera.com/programmes/specialseries/2013/04/201344105231487582.html

Over time new cartels have formed and the Arabs now have most of the clout in determining the oil price.

As far as the money supply goes, it is common knowledge that economic activity in South Africa has grown considerably with a growing black middle class and considerable direct foreign investment, which was absent under apartheid. I am not an economist, but in my simple mind increased economic activity leads to an increase in money supply.

What did add to an unnecessary increase in the local fuel price, is all the levies and taxes added to the base price, supposedly for 3rd party insurance, road maintenance etc, but then stolen by central government to fund their own lavish lifestyles.

[Dave A]

OK then. Not happy about petrol prices as a comparison.

How about car prices?
Property prices?

I know...
How about the price for a loaf of bread?

1994 - R2.79
2013 - R9.45 (or thereabouts).

[Blurock]

What did add to an unnecessary increase in the local fuel price, is all the levies and taxes added to the base price, supposedly for 3rd party insurance, road maintenance etc, but then stolen by central government to fund their own lavish lifestyles.

Theft and unproductivity adds to the cost of living. This includes theft by CEO's who steal from their own companies at the expense of their workers. Also tender fraud by government officials and the private sector, inflating the cost of goods and services paid for by the taxpayer. (e.g. construction companies recently in the news.) This is just the tip of the iceberg!

Instead of creating jobs and stability, we give handouts to people who will will remain to be beggars for the rest of their lives.

Social grant expenditure is set to rise from R113bn in 2013-14 to R121bn in 2014-15 and R129bn in 2015-16 — an average growth of 7.5% over the medium term.from Business Day

Grant beneficiaries have increased from 2.8-million in 1998 to 16.1-million in 2013. This does not include billions spent on fictitious employees ("ghost workers") employed by government departments, tender fraud and the money stolen by government officials.

I see this all as adding to waste and unproductivity and as a major cause of inflation! ...but I am not an economist, I just live here.

[Chrisjan B]

And the 16.1 -million in 2013 is the 2014 voters.....
Such a happy thought!

[Blurock]

And the 16.1 -million in 2013 is the 2014 voters.....
Such a happy thought!

Pimp my vote!

[Dave S]

When you want a vote, give something for free and the voters will keep coming back, when you want to build a country, give hope to businesses to grow, the votes will be fewer, but far more meaningful... Oh wait!... they don't want meaningful quality, just quantity.