We are a very wealthy country. Sure, we have many unemployed but we have millions of people who go to work every day and get paid for their efforts. Just fly over the PWV conurbation and be gobsmacked at size of it. Filled with factories, mines, commerce and industries.It is enormous and vibrant.
Where does the money down there come from? Critically it is all sourced from a very small group who produce wealth. Mines, farms and exporters feed the rest. Small business, banks and even the government, especially the government, leech of these wealth producers.
Right down to the local deli, all the money they take emanated from the wealth producers and has passed through many hands before paying for the pint of milk and the shop rent which that sale contributes toward.
It is estimated that SA has produced R52 trillion worth of gold at today's prices. Perhaps 8% of that money has been sent offshore as dividends to the capitalists who put up the original stake or for imported plant. We, the citizens of SA have benefited from the rest, and the money has gone round and round.
From the mine to the workers, from the workers to the food producers, from the food producers to the fertiliser makers, round and round, a thousand times, But it all started with the foreign capital which dug the mine.
Clearly we need these men and their money, so why do we chase them away? They have bought mineral rights over years, but we expropriate them without compensation, insist they apply for them again. If they want to fund a new mine they have to give away, free, yes free, a quarter of their money and future dividends to BEE partners purely because of their black skins. They are held hostage by illiterate workers who have the highest strike rate in the world.
They have to employ by race, not competence. There is a very real threat of nationalistion without compensation, a' la Zambia and Zim. They have no electricity, the railways and ports are not only the most expensive in the world but inefficient. Pravin is ever seeking to tax them even more. No wonder the investors run like hell from SA. Those same investors whose money funded R52 trillion on gold sales and our prosperity are not welcome in SA.
Yes, we are wealthy, but running on momentum. Stop feeding coal into the locomotive and you will carry on for a while but then slow and, in time, stop. We are getting to the slowing down phase and need injections of investment or will reach the stopped phase.
Investors are not going to come if not welcomed and the irresponsible rhetoric slamming "greedy white capitalists" from cabinet ministers, though the trades unions down to the pondscum EFF are off putting to the extreme.
Yes, we are wealthy, but for how long?
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