On 2022-09-24 21:19:21 Bruv said:
Most of the eligible voters don't follow the news. So they are ignorant about the tsunami of the ongoing corruption crippling my homeland.

ANC will still stay in power even as their system of jobs for buddies proved disastrous. Entitlement the motto.

Empowered by the monumentally stoopid zumpoes as the main rapist (how apt) of our money. Should go back to jail. Don't stop at Nkandla. Don't collect R 200 billion as you go past Begin. Fuck off straight to jail. Preferably Robben Island.

Our current inflation rate is way above the acceptable band of between 3 to 6 %. But in this case driven by high fuel prices, so it is unnatural.

Only tool really is to curb spending by lifting interest rate. But on the other hand you have probably 45 % unemployment after the fucknuts closed down the country for Covid. Millions less jobs. Small businesses decimated.

Just face it. We are fucked. These dumb fuckers in charge have no clue.

ESKOM : When are they firing 75% if the stupid cunts working there. Lifting energy prices will not help. Still supporting the oxygen thieves there. Get rid of those idiots and appoint people with skills.

Cheers

Bruv,

You have put our previous 20 odd years in a nutshell.

But we have a future here because South Africans are a resilient bunch of fuckers. The pricks who want to fuck off to shitholes like Australia can. But those that want to stay and build this most wonderful country will.

Yes we have negatives like corruption and arseholes like Guptas and Cockroaches. But we also have minerals and weather and natural parks (and heaven forbid the Cape :). Oh and I forgot to mention the hottest ladies in the world!!

I honestly believe that SA has hit the bottom of the barrel and we can only go up!!

My 2 cents.

Your 2 cents is worth fokoll! Right now things are just Rosey compared to where this country is heading.
Beautiful country, we all love it. But start moving assets abroad and changing into gold and foreign currency for the rand will be worth very little in future.
Hence i say your 2 cents is worth fokoll!
When I was Zim 10 years ago, the dollar to the rand was $1 : R7. It was shocking that the people of Zim would work for $3 a day at the hotels. What the people on the streets would do for $1. How their eyes lit up for a simple thing like a pack of Bakers biscuits because their currency became so worthless, it was too expensive to import anymore.
That desperation is still to come for South Africa, it's only a matter of time if drastic changes, which are unlikely, is not made.
We as importers are already feeling the pinch, the people will feel it next....

On 2022-09-26 20:22:56 Get the D in Durbs said:
Your 2 cents is worth fokoll! Right now things are just Rosey compared to where this country is heading.
Beautiful country, we all love it. But start moving assets abroad and changing into gold and foreign currency for the rand will be worth very little in future.
Hence i say your 2 cents is worth fokoll!
When I was Zim 10 years ago, the dollar to the rand was $1 : R7. It was shocking that the people of Zim would work for $3 a day at the hotels. What the people on the streets would do for $1. How their eyes lit up for a simple thing like a pack of Bakers biscuits because their currency became so worthless, it was too expensive to import anymore.
That desperation is still to come for South Africa, it's only a matter of time if drastic changes, which are unlikely, is not made.
We as importers are already feeling the pinch, the people will feel it next....

I don't think the need to swear was required :)
Firstly, other than agricultural exports, Zim had nothing to offer the market. Secondly current ZAR:USD value is not Rand weakness but Dollar strength - one simple look at GBP:USD figures will show you that!! Thirdly if you don't like it here, please leave - the growth of this country requires positive people, not negative moaners such as yourself!!

And another 75 basis points just ahead of Black Friday. Talk about timing, lol

www.news24.com/fin24/economy/just-in-another-jumbo-interest-rate-hike-announced-20221124


N4P

Increase had to happen. It is inevitable. It is the one tool used to curb spending.

Problem is that this rise in inflation is mostly due to external factors, like the oil price.

By spending less the oil price won't come down, and inflation will only drop marginally.

But at the end of the day bad news for most. And the effect here, less punts

Sorry

On 2022-11-24 19:09:11 Bruv said:
Increase had to happen. It is inevitable. It is the one tool used to curb spending.

Problem is that this rise in inflation is mostly due to external factors, like the oil price.

By spending less the oil price won't come down, and inflation will only drop marginally.

But at the end of the day bad news for most. And the effect here, less punts

Sorry

Yeah, I saw that R4,500 more on a home loan alone. Imagine the guys with car finance and credit card debt on top and any possible clothing, furniture, and personal loan expenses. It's gonna get pretty crazy out there for most people. Hope the guys are considering it before going to town tomorrow with deals that could get them in trouble financially.

N4P

That is roughly a 10 million rand home loan.

Then the credit card must be sitting at a million as well

Scary

On 2022-11-24 20:50:18 Bruv said:
That is roughly a 10 million rand home loan.

Then the credit card must be sitting at a million as well

Scary

Nope, R2mil home in the article since November last year. That's pretty much average.

"On a new home loan of R2 million at the prime rate, the latest increase hikes the monthly instalment by around R1 000. Since November last year, monthly payments on a R2 million home loan are almost R4 500 more expensive due to a raft of rate hikes."

N4P

Yup, each time it has gone up drastically by 75 bases points ... I have to find more cash each month ... equating to the value of two R2K appointments ... and because I work on an annual cycle, it's two less, so three hikes equates to six appointments less for the new year ... two appointments for me personally ... unless I earn more in the new year ... this sucks !

On 2022-09-27 11:13:11 landy said:
On 2022-09-26 20:22:56 Get the D in Durbs said: Your 2 cents is worth fokoll! Right now things are just Rosey compared to where this country is heading.
Beautiful country, we all love it. But start moving assets abroad and changing into gold and foreign currency for the rand will be worth very little in future.
Hence i say your 2 cents is worth fokoll!
When I was Zim 10 years ago, the dollar to the rand was $1 : R7. It was shocking that the people of Zim would work for $3 a day at the hotels. What the people on the streets would do for $1. How their eyes lit up for a simple thing like a pack of Bakers biscuits because their currency became so worthless, it was too expensive to import anymore.
That desperation is still to come for South Africa, it's only a matter of time if drastic changes, which are unlikely, is not made.
We as importers are already feeling the pinch, the people will feel it next....
I don't think the need to swear was required :)
Firstly, other than agricultural exports, Zim had nothing to offer the market. Secondly current ZAR:USD value is not Rand weakness but Dollar strength - one simple look at GBP:USD figures will show you that!! Thirdly if you don't like it here, please leave - the growth of this country requires positive people, not negative moaners such as yourself!!

There are around 47000 people in RSA who are dollar millionaires ie with NETT assets, investments and cash (excluding their private residences) equating to around R20 million plus. WE are talking legitimate tax paying citizens who do not stuff their furniture with US$ notes. The majority have most of their liquid assets already outside RSA. The growth of RSA requires these people to stay and invest here. Why should they, given that the present regime has legitimised corruption by equating it with wealth creation. 2 cents worth from another moaner