Nationalising mines could...

[Dave A]

Julius Malema certainly knows how to appeal to the audience before him:

Mines should be nationalised to pay for the education of university students, ANC Youth League president Julius Malema told students at the University of Limpopo's Medunsa campus in Ga-Rankuwa on Wednesday.
full story from M&G here

Let's hope these students are getting a good education so that they can see past the populist drivel.

He told the students to loud cheers that one mine could fund students fees at the Medunsa campus alone.

"If one mine takes over this university in terms of funding, you won't have to worry about government," he said.

Perhaps not

I wonder how many times he's going to double and triple sell the "potential benefits" of nationalising the mines over the coming years.

Let's see what else could be done then -

A free house for all shackdwellers.
Cover the cost of the NHI.
Free public transport.
Unemployment grants for life.
Lower tax rates.

Gee - why haven't we done it already?

I assume government, with all these financial burdens removed, will happily be able to manage without the taxes they currently collect from the mining industry too

[AndyD]

He is undoubtedly a genius.

[wynn]

A nationalised mine is just a hole in the ground.
Capital will go and dig in another country and take the market with them.
No market no money.

[Dave S]

A nationalised mine is just a hole in the ground.
Capital will go and dig in another country and take the market with them.
No market no money.

Maybe the big hole will be needed later when they bury Julius and his entourage?

BTW, what's with the Clayton Valve avatar? are you in irrigation Wynn?

[wynn]

I'm in plumbing & civil engineering supplies pipes and fittings, that is a Clayton pressure control valve

[Dave S]

Good to know, I'm in Golf Course maintenance and deal daily with claytons, that's why I asked.

[Dave A]

BANTU MNIKI: Nationalisation won’t benefit poor

THE saddest thing about the “debate” about nationalisation involving the ANC Youth League’s Julius Malema is that it is not what it seems to be.

This nationalisation call is all about political point-scoring and material plundering. It is not about true wealth creation, which requires knowledge and effort. And it is certainly not about the people it is supposed to benefit – the youth and the so called poor.

Once more we witness those who call themselves leaders making use of the majority’s vulnerability to serve the needs of the powerful.

The full article is well worth the read.