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

Comments: 13
Article views: 20
Latest Badges:

View all ruffieb's badges.

Hey Man..... its not Cool to be Stupid!

14 January 2013, 09:32
I do not claim to be a financial wizard, in fact I have never worked in the financial sector. So let me be clear from the start, that this is no blog for financial gurus and the like. I am a political animal and read everything from history to newspapers to internet. The people I am talking to today are those who do not read the business section of the newspaper and there are a lot of those.

Fitch and Moody's have downgraded South Africa's investment grade rating a notch  from BBB+ to BBB, a notch closer to JUNK. The reasons for this downgrading are, decline in competitiveness, deterioration of public finances (i.e. corruption), social and political tensions, 25.5% unemployment. I can hear some of you saying, that SA has alway had financial ups and downs and anyway, you have got your football, your cricket your rugby and your beer, so what the heck.

Well, there is news for you buster, all this does or will touch your life. From now on, every time the government borrows money from abroad, the interest rates will be higher and the government will have to raise taxes to repay the money. Having to pay more taxes will put a brake on trying to start a new business and companies will do less hiring as they try to stabilize their costs. So it goes without saying unemployment will rise and when unemployments rises, crime rises and and social unrest increases.Investors will not be bringing their money here in the face of massive corruption and social unrest.

One has only to look at the farm workers strike. The going minimum wage on the farms was set by the ANC minister of labour, Mildred Olifant at just below R70 per day. (Who can live on R70 per day?) When all hell broke loose, where was Madame Olifant, well .....................overseas somewhere at a conference. Madame Olifant was for a while represented by the Minister of Fishing and Agriculture, who-toied with the workers, assured them that they would not have to come up for broken and damaged property and then disappeared. 

Time old adages like, "A crisis takes precedence over all else" or "A stitch in time saves nine" are a mystery to Madame  Olifant, who never rushed home to build some sort of firewall. Marikana was no different, only the players were different.

I recently read a blog of a young man who had emigrated to Australia, had trouble putting down roots and getting connected and returned to SA. As the troubles here mount, he is reconsidering returning to Australia. If he were to leave again I would wish him well. If I were a young person, I might do the same.

I do not want to preach to the converted, which many people using this blogging space are.  The people I am trying to reach out to, are those who are who are seeing all these unhappy happenings in SA and are standing on the brink of political decision. Hey man............... its not cool to be stupid, look carefully before you put your cross.

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. 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
Comments have been closed for this article.

Read more from our Users

Submitted by
Thandolwethu Mene
South African ICC exit a step in ...

What is the International Criminal Court and what is its purpose? Read more...

0 comments 2864 views
Submitted by
Michael Mondli Hlophe
Defeating Privilege

Many sceptics will probably read the topic and move on to the next without giving the article the time of day. Privilege is however something that needs to be addressed. Read more...

0 comments 1907 views
Submitted by
Mark Nancarrow
Why I love Cambodia’s capital

There are so many reasons to hate Cambodia’s bite sized capital of Phnom Penh. Open sewers, naked children, piles of burning garbage on every street. Its a dirty, smelly, noisy amalgam. But Phnom Penh grows on you and by the time you leave it will occupy a special place in your heart. Read more...

0 comments 484 views
Submitted by
Nkanyiso Land Tumi
Fees must fall movement is unforg...

I am very shocked to see students protesting in the presence of police as if they're criminals. Read more...

0 comments 4945 views
Submitted by
De Wet Ferreira
Put the 'heal' Back into Mental H...

We all know what do when we cut or scratch ourselves, right? Our first response, without even thinking about it, is to go for the medicine cabinet – grabbing the antiseptic ointment and a plaster or two.  Read more...

0 comments 315 views
Submitted by
Colin Harding
Western cape dams are 30% lower t...

Not to understate the seriousness of the drought that South Africa is caught up in, I am a little concerned when local government state one statistic and the DWA have a different statistic. Read more...

0 comments 1295 views


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 All rights reserved.
There are new stories on the homepage. Click here to see them.


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 network.


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.