President Cyril Ramaphosa

flatwater bill

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One can scarcely imagine things getting worse with the new president. Former president Zuma, aka "Jake the Snake", finally got kicked off of the gravy train. President Ramaphosa, on the other hand, already has plenty of money, so maybe he will tackle the rampant corruption.... if he does he will be the first indigenous president to do so. Instead, the ANC is pushing him into another arena: Land Reform. They have just stated that "an aggressive policy of land reform will include forced expropriation without compensation". In Idaho we still call that stealing. But, Hell, it worked so well in Rhodesia, why not give it a try?..............FW Bill
 
Well, at least South Africa is moving up in one aspect.:(

https://www.bloomberg.com/news/arti...omies-of-2018-stay-haunted-by-inflation-beast


These Are the World’s Most Miserable Economies

Rising prices are more of a threat to the global economy this year than joblessness, according to Bloomberg’s Misery Index, which sums inflation and unemployment outlooks for 66 economies.

Venezuela marks its fourth year as the world’s most miserable economy, with a score that’s more than three times what it was in 2017. Thailand again claimed “least miserable” status, though the nation’s unique way of calculating unemployment makes No. 2 Singapore worth noting. Elsewhere, Mexico looks to make big strides this year as inflation becomes more manageable, while Romania absorbs more misery for the opposite reason.

The Bloomberg Misery Index relies on the age-old concept that low inflation and unemployment generally illustrate how good an economy’s residents should feel. Sometimes, of course, a low tally can be misleading in either category: Persistently low prices can be a sign of poor demand, and too-low joblessness shackles workers who want to switch to better jobs, for instance.

The results largely signal a global economic outlook that remains bright overall: Economists are penciling in 3.7 percent year-on-year growth for the world in 2018, matching last year’s pace that was the best since 2011, according to the Bloomberg survey median.

Some have not been so fortunate. In Venezuela, hyperinflation has left many economists throwing up their hands at the actual rate of price growth. Black-market currency rates have provided an angle on the numbers, while alternative measureshave chased daily cost swings. A recent government slashing of grocery prices gave a brief reprieve to inflation, while the surveyed economists see it rising 1,864 percent this year.

It’s anyone’s guess: The International Monetary Fund’s latest estimate has that figure at 13,000 percent for this year after about 2,400 percent in 2017.

Romania also is heading in the wrong direction. Economists see a 3.3 percent inflation rate for 2018 after much more subdued price growth last year, pushing its misery down 16 notches, to No. 34. The National Bank of Romania is chasing inflation with interest-rate hikes, aiming to stay ahead of any overheating while growth surges on ballooning government spending.

At the other end of the spectrum, Mexico makes the biggest progress this year, moving 16 notches toward “least miserable” as economists remain optimistic that the central bank will be able to tame last year’s bout of high inflation, bringing it to an average 4.1 percent this year after 6 percent in 2017. Unemployment is set to remain around 3.4 percent.

Two caveats here: Mexico’s jobless figures don’t take into account the 60 percent or so of workers who are in the informal economy. And despite this year’s improvement, consumer confidence remains in a funk and Nafta negotiations might not see a happy ending.

Some other notable mentions:

  • Malaysia moves down the misery scale to No. 52 from No. 43 due to moderating inflation. The tepid price growth is allowing Bank Negara Malaysia to be patient with interest-rate hikes, even as they were first in the region this year to tighten this year
  • Argentina, ranked at No. 3, belies a third year of improvement in its overall score, set to be the lowest since at least 2013, the year in which the IMF censured the country for covering up high inflation and when Bloomberg began calculating the data
  • South Korea and Norway, which also happened to perform well in the Bloomberg 2018 Innovation Index at Nos. 1 and 15, broke into the top-10 least miserable
  • Saudi Arabia, projected to make the biggest plunge from 2017 in its misery index number, climbs into the top 10 most-miserable economies
  • The U.S. will see its misery score improve to 6.2 this year from 6.5 in 2017 even as inflation rises following years of persistently low price gains, and as the labor market continues to tighten
  • China, the world’s second-largest economy, saw its misery score rise to 6.3 this year from 5.5 in 2017. Consumer prices are estimated to rise 2.3 percent this year, compared with 1.6 percent in 2017
  • Asian economies are fortunate to escape the top 10 most miserable this year, which are otherwise geographically diverse with Europe, Latin America, and Africa almost equally represented.
 
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I don't understand why the Rand is increasing on the US dollar?


Good news in RSA.

No real news in USA.

Buyers and sellers of ZAR and USD think things are looking up for RSA. There may not be as much corruption. Monies may be spent on products and services that help the people and the country instead of being wasted.

ZAR has gone up vs GBP and EUR as well.
 
Instead, the ANC is pushing him into another arena: Land Reform. They have just stated that "an aggressive policy of land reform will include forced expropriation without compensation".

Hoping the example of why not to do that provided by their northern neighbor will prevent that. But it wouldn't be the first time that someone cut their noses to spite their faces.
 
I'm holding my breath to see how this all works out.
 
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At least there's someone at the top with some intelligence and education. Zuma was beyond laughable.
 
Ramaphosa can start at Oliver Tambo...and straighten up the utterly corrupt airport police there...!
 
Ramaphosa can start at Oliver Tambo...and straighten up the utterly corrupt airport police there...!

More than just the airport I think. But as you say a good starting point.
 
It’s positive. After Zuma the only way is up. Nobody’s perfect and the ANC is rotten but Ramaphosa is the best option available.
 
Never had a problem at the airport and I am back and forward a couple of times a year ...my clients have not
 
Never had a problem at the airport and I am back and forward a couple of times a year ...my clients have not
I had a SA air representative try and shake me down , and another hinting that if I didn't take care of him my bow might not make it on the plane to the EC.
 
At least there's someone at the top with some intelligence and education. Zuma was beyond laughable.

precisely. hard to believe that someone with less intelligence than what my dog leaves curled on the sidewalk managed to first get elected then stay in power for so many years. sort of like our Prime Minister
 

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