Snippet 2019 – 19

Economy The week before last it was reported that Zimbabwe would be releasing its own currency by year end. It’s interim currency, the RTGS $ has plunged 60% against the US $since February and things are getting worse (its annual inflation reached 97% in May alone)....

Snippet 2019 – 18

Economy The SA BER index remained unchanged in Q2 at 28 points. RMB opined that a technical recession for the first half of this year remains a possibility. This week Prof Malikane (Wits) flighted an article on the South African debt situation. He estimates our...

Snippet 2019 – 17

Economy Silver bullet economics: post-election economic debate has centred on job creation and the Reserve Bank. Calls are made by a variety of worthies for the Reserve Bank to be privatised, and for it to drop interest rates, create jobs, release its reserves and...

Snippet 2019 – 16

Economy Stats SA reports that 44% of SA households receive at least one social grant, up from 30% 15 years ago. This somewhat depressing news prompted me to look further: I was lent a copy of the SA Survey 2019 by the IRR; the statistics are most interesting. Some of...

Snippet 2019 – 15

Economy Despite the exuberance that accompanied the swearing in of our latest Parliament, our economic outlook remains bleak: the OECD now estimates our growth forecast for this year at 1.2%. Kganyago (the governor of the Reserve Bank) forecasts only 1% growth. Heck,...

Snippet 2019 – 14

Economy Stats SA reports that retail sales registered pedestrian growth of just 0.2% yoy for the first quarter of this year. It is estimated that our GDP may have dropped by about 2% quarter-on-quarter. Mining output had plunged 8.1% in February and had contracted...