PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
G
 
Comments: 40
Article views: 1634
 
 
Latest Badges:



 
View all G's badges.
 

Debt crisis for SA?

29 December 2011, 07:56
South Africa "used" to have the cheapest electricity in the world. Then suddenly............ er hem, through "mismanagement" and a "hold" up in the coal supply, we have a crisis. Major problem, in spite of the fact that we have an abundance of coal....

Problem.

The next thing we have rolling blackouts, the whole country is brought to a stand still.

Reaction.

Funny how since then we have not had to have blackouts...... but still, we now have to "borrow" three trillion from the IMF, and pay interest on this money.

Solution.

Somebody is getting rich, and it is not the South African tax payer. I do not believe we had to borrow this money at all, and I strongly suspect that Eskom could have solved the probelm themselves. And the lack of delivery of the coal was a set up...

Now, we are the apple of the IMF's eye, with a personal visit from them in January. I do not trust it one little bit. I believe we are being set up, in the same way that Greece and Iceland were set up, and in the same way Argentina was set up.

More and more these days I find myself supporting COSATU. They refused to offload arms and amunition to Mugabe, that was the first time I really took notice. They have had the guts to stand up to WALL MART, a company that most South Africans do not want here, we prefer our South African owned companies who were fine thank you very much, creating jobs, doing a good turnover and providing for our needs, without this USA invasion, most of us are upset that South Africans "sold" out for the big buck to this offshore company! Now COSATU is standing up against the rediculous toll charges that are about to be instituted in Gauteng.

For any South African who is not fully awake to IMF loans that will put us deep into debt, uder the auspices of "investment" and "job creation," I highly recomend the film "War by other means," by John Pilger.

"John Pilger travels to many third world countries to investigate the devastating results of loans from the World Bank and International Monetary Fund (IMF). This film shows how many wars today are not carried out at the barrel of a gun, but by the monetary policies of global banking institutions. Instead of bombs, it has been discovered that debt is a far more powerful weapon to control and maintain the power of global economic interests. It turns out that the "structural-adjustment" policies of neo-liberal economics are even more deadly than nerve gas and many other weapons of war. This documentary backs up many of the claims made by John Perkins, author of Confessions of an Economic Hit Man."

Here is the link : http://www.youtube.com/watch?feature=player_embedded&v=UFg2jbQ-Fq0#!




Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
40 comments
Comments have been closed for this article.

Read more from our Users

Submitted by
JBee Buthelezi
Tremor in Durban

I also felt the tremor in Durban. Read more...

0 comments 305 views
Submitted by
Graeme Long
The Calamitous World Order and Ho...

I’m a bona fide history nut. Whether it’s a subject, country or person the only sure-fire way to understand it, is to know the history. Read more...

0 comments 1556 views
Submitted by
Cerin Maduray
Saving to Save South Africa's Tre...

At the back end of last year we entered an interest rate hiking period. Mostly notable by the recent 50bps rate increase. Read more...

0 comments 252 views
Submitted by
Nhlane Mohlamonyane
Water in Moutse specifically Ntwa...

We are all more than well aware of the fact that the Country at the moment is experiencing one of the most severe and worst droughts that is has ever had and that the possibility of it breaking soon being hardly unlikely especially so in view of the El Nino effect on our position in South Africa. Read more...

0 comments 78 views
Submitted by
Thulane Che Trosky637
Being referee and player at the s...

The MPAC (Municipal Public Accounts Committee) constituted to conduct an oversight role on the finances in reference to what prevails within the circumambient ambit of the Elias Motsoaledi Local Council has one of the most peculiar compositions that you can ever imagine it to be. Read more...

0 comments 93 views
Submitted by
Esme Joaquim
About the article Lawyer fasts fo...

I worked with Mr Loots from 1998 to 2000, it is unbelievable that this matter has still not been resolved by Legal Aid South Africa (LASA). Read more...

0 comments 139 views
 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

TV Get us in your home, on your television.

 
Interactive Advertising Bureau
 
© 2016 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.