PLEASE NOTE:

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

 
G
 
Comments: 40
Article views: 1647
 
 
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
Graeme Long
The new battle lines of SA: Urban...

First it was British vs Boer, then black vs white, now it’s urban modernists vs rural African traditionalists.  Read more...

0 comments 1110 views
Submitted by
Sipho James Xesha
Initiation a sacred ritual

Speaking as umXhosa, the current (June) month is the season for orthodox spiritual orientation of the young Xhosa male. No other point in the celestial calendar marks this auspicious socio-spiritual occasion but this one. Read more...

0 comments 112 views
Submitted by
Khaya Tyatya
Transformation is an integral par...

The MTT would have failed in its task if it does not come up with a clearly articulated, practical and “unapologetic” human resource development plan that will fundamentally transform the university system in the next five years and beyond. Read more...

0 comments 162 views
Submitted by
Sane Sunyshine Sihiya
Mmusi Maimane: Do you have power?

I judged you. I felt, you were being silly! Cheese boy vibes. Those educated sounding blacks who speak English very well and sound absolutely smart at the expense of trading in their identity. Read more...

0 comments 183 views
Submitted by
Budiriro Peter Moyo
Hunting for radical economic tran...

It is one of the most famous statement of our current time in South Africa right now - Radical Economic Transformation (RET). Yet elusive to those that seek it. A political gimmick? What does it mean? Read more...

0 comments 109 views
Submitted by
Sanele Sano Ngcobo
All South African cars should hav...

Make it illegal for any civilian car to have a maximum speed of 120km/h. As soon as the cars are manufactured or imported to SA, they should have a maximum speed of 120km/h. Read more...

0 comments 246 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
 
© 2017 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.