Why all the fuss over the recent cabinet reshuffle and the firing of Pravin Gordhan (PG) as Minister of Finance. Quite simply the treasury has been “captured”; the next institution under threat would be the Reserve Bank and then the radical economic transformation or rather Great State Robbery would be complete.
The expected inevitable change to monetary and fiscal policy will ultimately see SA Inc. go bankrupt and only then will the unfolding economic crisis and suffering of the people lead to political change and the long slow road to recovery. And this is why, Standards and Poor (S&P) called an emergency meeting over a weekend and immediately downgraded our debt rating.
Tomorrow Friday the 7th April the people of SA will take to the streets in the hope of convincing Parliament to hold a vote of no confidence in our President and using the words of the ANC Secretary General Gwede Mantashe to vote with their “conscience”.
Unfortunately, I fear this may all be in vain as the very same ANC Secretary General Gwede Mantashe, representing the top leadership of the ANC, came out in support of Zuma defending his reasons for firing PG. It is unlikely a vote will go-head and even less likely that sufficient ANC members of parliament would break ranks and vote with their conscience in removing Zuma and his corrupt government.
Our next hope is the ANC elective conference at year-end when the moderates led by Cyril Ramaphosa will challenge the “traditionalist” for leadership of the ANC in determining our next President and ultimately the country’s fate. Failure by the moderates will see a continuation of the corrupt patronage government and a race to the bottom.
We can only hope sanity prevails and good triumphs evil, because the longer the rot the more damage will be done, which will take years to recover. I shudder to use the word Zimbabwe in this article, but Zim epitomizes the current populist path the government is taking and the resultant economic decline, which is best described by the following quote, “It is easier to turn an aquarium into a fish soup than it is to turn a fish soup into an aquarium”.
Mcomm, CFP®, HdipTax
T. 021-851 3746