News24

Nationalisation debate damaging - DA

2011-08-09 22:22

Johannesburg - The "mindless calls" for nationalisation irreparably damaged South Africa's attractiveness as an investment destination amidst global economic turmoil, the Democratic Alliance said on Tuesday.

"Government must be alert to the minefield of slowing global growth, falling stock markets and the real possibility of sovereign debt defaults in Europe and respond appropriately by ensuring that our public finances can withstand the increasing pressure," said finance spokesperson Dion George in a statement.

Government could do this by halting inefficient spending in its ranks and "tenderpreneurial scams" which rob the poorest members of society.

"It needs to be clear on the fact that when an economy slows, tax revenues do too and, given that we are already in deficit, there is very little space for manoeuvre. Under these circumstances, economic policies need to be coherent and focused on building, not breaking down, our economic prospects."

George said South Africa had more space to "manoeuvre" than other economies on the brink of default.

He said the country needed to reconsider the structure of the economy - making it more inclusive for all South Africans and decide how best to take advantage of its unique position in the global economy.

The troubling events globally needed a "steady response" from the South African government to prevent a "deepening economic crisis".

The government had to consider the fact that South Africa was an emerging destination with strong infrastructure and a potential gateway to almost a billion people on the African continent.

Investors need confidence

"It remains possible for South Africa to position itself as an attractive destination for long term investment capital, but we need to be desirable to extremely nervous investors. Investors need confidence that our economy will grow.

"To determine medium to long term growth potential, they consider predictive indicators such as potential future economic activity, usually driven by a well educated work force within an environment that facilitates the economic activity that generates growth.

"Under these circumstances wealth increases and unemployment decreases," George said.

Before the current economic crisis, South Africa's growth had already slowed .

"Our trajectory lagged behind those of comparable economies and we missed the commodities boom because government's economic policies acted as a barrier rather than a boost.

"The impact of the initial crisis, the precarious jobless recovery and now a potential double dip recession in Western economies is severely detrimental to our economic outlook."

George's comments followed Standard and Poor's downgrading its credit rating of US government debt from AAA to AA+.

The move, he said, had speeded up an "already steady plunge" in stock market prices around the world.

He said under current conditions, there were concerns that a double dip recession was likely in developed economies such as the US, the UK and in Europe.

Comments
  • TamaraSays - 2011-08-09 22:39

    It's probably already too late to be putting the brakes on. Nervous investors, plus global market turmoil, equals less risky investing. SA is a risk, so the money that is here will be leaving, and no new money will be coming in. And yet, they're STILL trying to chase Walmart away. The mind boggles.

      william.botha - 2011-08-09 22:47

      TamaraSays, Walmart is bad news to SA, including any country they operate in.

      TamaraSays - 2011-08-09 22:51

      william.botha, it's not necessarily only about Walmart though... what message does the response send to the rest of the world? Walmart may be bad news for SA, but what about the international companies who are watching how our government is responding, and deciding that it's easier just not to open here? Then again, how come they are so anti walmart, but they have a love affair with china? Everything in context. You add the nationalisation issues, the expropriation threats, the threats of violence and instability, the Walmart saga, strikes, unions and everything else together, and is it any wonder that international investment has dropped through the floor? I don't think so.

      william.botha - 2011-08-09 23:04

      I know Tamara. I am afraid that there is just too much kinetic energy in the current global economy to try and turn it around. I have a problem with big corporations like Walmart etc. in the way they dominate, collude and destroy smaller business. They are like a cancer that spreads. They take control of the supply and distribution, like Tiger Brand for an example. It is bad for business because all these big corporate companies are listed, thus tied up with the money markets and stock exchanges, thus in the long run they enslave the consumer to keep investors happy, and destroy free markets. Although the movie WALL E is a cartoon and many see it as entertainment for children, ironically there is a good analogy of what is happening in the world today. Corporates are ruling the world, that is why the rift between rich and poor is ever widening, because greed is a disease.

      slg - 2011-08-09 23:05

      William, I disagree. Walmart drives prices down. That cannot be a bad thing.

      farmworker - 2011-08-09 23:10

      @TamaraSays Who are you representing again? Who is they? What are you still doing in a Risk Country? And if you think Nationalization is Bad, then explain how do you plan of taking the Majority of this country out of poverty, because they are not out what is happening in London now is bound to happen here

      william.botha - 2011-08-09 23:10

      Slg, that is a myth, they engage the opposition in a price war in a manner that makes you believe they are driving prices down. If you look at the prices manufacturers or farmers get for their produce, and you compare that to the prices you pay at supermarkets, including Walmart, it is a rippoff. Why do you think Walmart has grown to the size it is today? Fruit farmers in Tulbach said if they can get R2 per kg for their export plums, they will be happy and can survive. You go and look at the price you pay for those plums at the supermarket. Where is that money going?

      TamaraSays - 2011-08-10 03:12

      farmworker, you don't have to like what I say. But watch. South Africa is not an anomaly. This country operates as a part of a global economy, and it will follow the same trends as other countries do. When investors get nervous about anything, they pull their money out. When money gets pulled out of countries, jobs are lost. You may think that the nationalisation debate will help the poor, but it won't, and the only thing it will achieve is to leave even more people jobless. We need a government that understands that, because clearly, at the moment, the few that do in our current government are talking to a brick wall. Watch. Wait.

      TamaraSays - 2011-08-10 03:18

      And for the record, I represent the average South African. Not a member of any party. Just watching, understanding, and shaking my head like millions of other South Africams.

      Goofster - 2011-08-10 07:33

      Hmm. you represent yourself and your own opinion - nothing more, nothing less.

      Creeky - 2011-08-10 08:10

      Check the way the RAND DIPPED in the past few hours... worst in 18 months.... and OVER NIGHT!!!! Yep... and "they' still think they can FULFILL the PROMISE Zuma made to the people in April 2010.... "I promise you 5 MILLION "JAWBS" in 5 years"!!!!!!! SPEAK TO THE HAND.....!!!!!!!!!!!

      TamaraSays - 2011-08-10 08:12

      Goofster, it's a bell curve thing.

      PB - 2011-08-10 08:21

      @goofster + farmworker Tamara represents a hell of a lot of clear thinking, realistic South Africans who are not blinded by the flashy, bling, snake-oil sellers that is represented by the Fat Fart and his fellow corrupt Socialists who are living the totally opposite lifestyle. Would you consider being a member of a stokvel where you kept on putting in your contribution, with the certainty of never getting anything back? That is exactly what nationalisation amounts to. It boils down to a very bad investment.

      vandermerwe.martin - 2011-08-10 09:02

      @Willam.botha, please share the stuff you smoke...........your'e a moran, please revisit the Walmart methodology mefore spewing this garbage.

      Neef Gert - 2011-08-10 09:14

      Why did NEWS24 removed my comments I made earlier. Because I have valid points? The ANC can nationalise the mines, as soon as the mining companies been given enough time to remove All equipment, as the equipment belongs to the mining companies, they are the legal, rightful owners of such. The empty shells can then be handed over to the ANC and the ANCYL for them to equip it to operational state and create jobs. To me it sounds perfect.

      Neef Gert - 2011-08-10 09:17

      The ANC can nationalise the mines, as soon as the mining companies been given enough time to remove All equipment, as the equipment belongs to the mining companies, they are the legal, rightful owners of such. The empty shells can then be handed over to the ANC and the ANCYL for them to equip it to operational state and create jobs. To me it sounds perfect.

      Cynic - 2011-08-10 09:27

      @TamaraSays: Foreign investment is already taking a knock - http://www.fin24.com/Economy/Foreign-investment-in-SA-dives-in-2010-20110726

      The Wonderer - 2011-08-10 09:34

      The thing is, BEE, BBEEE & AA didn't work, a MAJOR FAIL, so now they push for nationalisation, which will also NOT work, SEE THE PATTERN???

      farmworker - 2011-08-10 10:27

      @TamaraSays You still remain brainwashed in my book because you not providing me any reason, did I ask about Walmart? I never said it will work, all I am saying would it hurt to explorer the pros and cons, but you concluded it would not work. Can you take me through the steps what led to your conclusion maybe I would understand. But again like I said if you know reasons why then it would help us counteract those. Do that and you will get my respect otherwise it remain suspended. @PB AKA TamaraSays Spokesperson. Lets assume Malema is not raising the issue but someone is would you still be so against without giving it a debate platform

      TamaraSays - 2011-08-10 11:05

      farmworker, the reason nationalisation won't work is that while the mineral resources may belong to South Africa (which is why mining companies pay our government for mining rights) all the infrastructure and equipment is privately owned. Should mines be nationalised without compensation, the owners of that equipment will remove their equipment, leaving nothing more than a hole in the ground. The costs to re-equip the mines would be astronomical, but nationalising equipment would not be an option, because it's privately owned. Then there's the agreements we have in place with other countries, the fact that nationalisation will enrich only a few people, while others will starve, and plenty of other factors. It's not viable. It's a political smokescreen, that's being used to keep the focus off real problems, and real solutions.

      farmworker - 2011-08-10 11:15

      @TamaraSays is that the best you can say? did you hear anyone say nationalization will be without compensation, coz my understanding is that the government must own more that 50% off which they have to buy. "infrastructure and equipment" why would they want to take them because they would need to use it. Unless you saying those companies want to pull out all together and that still is gonna cost them more to remove the equipment and then what do they do with those equipment. Don't you think the better option would always sell the mine as is

      PB - 2011-08-10 11:23

      @farmworker "@PB AKA TamaraSays Spokesperson." - As I mentioned, I am one of thousands of realistic people who has the ability to think for myself and as such commented on Tamara's point of view. We have the same opinion about nationalisation and a couple of other points made by her before. Live with it. " Lets assume Malema is not raising the issue but someone is would you still be so against without giving it a debate platform " - Whether nationalisation is suggested by your fat hero, the DA, the man in the moon or any one else - I would still maintain that it has proven to be totally counter productive WORLDWIDE. juliaaas is not the first person to come up with this dof idea, he is just getting a hell of a lot of braindead followers agreeing with him, because you guys are not willing to look back into history and the fact that it is not the solution to the problem, as much as you would love for it to work. So no, I am not willing to discuss nationalisation as the solution to all your (wet)dreams - BECAUSE THERE ARE ENOUGH EVIDENCE OF NATIONALISATION NOT BEING A SOLUTION - NOT HERE OR ANYWHERE ELSE IN THE WORLD.

      TamaraSays - 2011-08-10 11:46

      Farmworker, there's a reason the National Party, and the Nazi's, failed. They were nationalist parties, bent on taking everything of value, and keeping it for themselves. Do you REALLY think that the current government, or any government for that matter, cares enough about the people who are their citizens, to make any nationalisation effort for their benefit? They're considering it for themselves. No other reason. You, me, and everyone else on this forum isn't a person to the government - we're a number. Once you get that depressing fact, you start to understand the deeper meaning behind all their talk, and their actions.

      alexander.j.s.dowding - 2011-08-10 11:47

      It won't end anytime soon. The politicians in this country are nationalisation junkies. Nationalisation seems to be the buzz word of our time. What a pity people don't seem to be able to grasp the fact that nationalisation won't benefit anyone except those already well connected, enriched people in power and their chums. I really don't blame foreign investors for being extremely cautious about the prospect of doing business in our country. The threat of nationalisation and the scale and endemicity of corruption are hardly enticing.

      farmworker - 2011-08-10 12:34

      @TamaraSays as I guessed you have no reasons, now you talk about nationalization of parties what does that fit in here. and you are not aswering questions I asked you. @PB you are also welcomed to list your reasons as well, why are you so against it instead of researching why those that tried it before have failed, so when it is about to be implemented we can do it with that in mind If you think it will just enrich few as you stated, why not put that one in the debate and strictly put T&C to avoid that one I

      PB - 2011-08-10 12:56

      farmworker, it is actually useless trying to have a balanced conversation with you. Just reading all the comments that has been posted regarding nationalisation already, will give you the answers you want from me (and Tamara). I am not going to re-type them all. But here goes :- The most damaging factor for me, is that nationalisation is counterproductive in trying to get foreign investment into our country. If you were an investor who had to consider putting your hard earned money into an investment that would earn you interest, or into a mine that stands to be nationalised (with the accompanying 0% chance of getting your own money back, let alone any interest), what would you choose????? Why don't you instead give us details of any country ANYWHERE where nationalisation has benefited THE PEOPLE and not only the ALREADY RICH, CONNECTED DUDES?

      TamaraSays - 2011-08-10 13:15

      farmworker, I actually LIKE the idea of nationalised resources - IF they were ever going to benefit the people of the country. Just like I LIKE the ideas of communism and socialism - in theory. However, the problem is, when there are greedy capitalists masquerading as 'people's polticians' at the top of the pyramid (and there always are) the only thing that any of those things ever achieve is to make the dictators at the top richer, and the people poorer. You should google all of these things, and read the case studies from around the world. Not one has worked. Ever. Even when they were run by clever people. In fact, I wouldn't be too surprised if we start to see a global shift to something we've never had before, politically speaking. People around the world are tired of being ruled by greedy, corrupt, inept politicians, who are only out for themselves. The trouble in South Africa, is that many South Africans can't tell the difference between disagreeing with government, and racism. That's about all I have to say about that though. Look into it. Read up. Find out the real facts, from people who are not standing to benefit. Then talk again.

      Sylar_DJ - 2011-08-10 13:34

      @farmworker, could you explain to me how nationalisation of mines will benefit you at all? Even you must admit that it is slightly scary to think of such things given the fact that all other state owned enterprises are doing 'so well'. Do you think that someone is going to knock on your door every month and say, "Here you go sir, here's your dividend of the profit from all the mines for this month". As I said before, it is thought as of a step towards economical freedom, but please, can someone elaborate what economic freedom is?

      Looking@SA - 2011-08-10 13:56

      @farmworker; do the math. Take all the corporations, mines, and farms and divide it among all the poor of SA. You will still have lots of poor people, but you won't have an economy because all of those who built those corporations, mining companies, and farms will be long gone. They will be gone as soon as it appears likely that nationalization will happen. The solution isn't to divide what is already there, but to grow. SA should be an investment destination for the world. But I'm not going to invest in SA if I think that some unelected official will force the government to take what I invested. And I WAS thinking of investing in SA. Good luck with the Chinese they know how to protect what is their's and aren't afraid to apply incredible pressure. Just look at what they will do to their own people who step out of line.

      farmworker - 2011-08-10 14:32

      Ok, I rest my case

      Steve Wonderboy - 2011-08-10 16:54

      @TamaraSays please stop arguing with this troll. You are wasting your energy.

      burtfred - 2011-08-10 19:32

      @Willem Botha. Why is Wallmart "bad news" to SA? Please explain.

      william.botha - 2011-08-11 22:51

      Burtfred, For the fiscal year ending January 31, 2011, Wal-Mart reported a net income of $15.4 billion on $422 billion of revenue with a 24.7% gross profit margin. Where is the profit going? Out of SA, out of Africa to feed the big fat corporate retard baby created by reckless greedy people. How will Walmart stimulate local business? Guaranteed, most of the produce available on the shelves will be from China.

  • farmworker - 2011-08-09 22:43

    Problem with Democratic Alliance(DA) is they always make noise, criticize but they almost invariably never suggest a way forward. DA can you at least once just suggest what needs to be done, Do you want the government to just Nationalize without look at the pron and cons because DA thinks the debate is damaging? While you(DA) are still making up your mind, also think about what is the alternative to get the Majority of people out of poverty

      Rev. H-Cubed - 2011-08-09 23:24

      They tell you their alternative all the time, but you only hear it as "noise" and "criticism". Clean governance is the foundation, without which even the loftiest plans and strategies will fail. We must start with a simple principle - that every cent of public money is spent on THE PUBLIC NEEDS. As long as thieves are stealing that money, nothing will improve. There are many alternatives offered by the opposition, but apparently their policies are invisible to you. The only way to alleviate poverty is through education and employment. True liberation and empowerment is not an easy path. It requires constant effort.

      OuWitBooi - 2011-08-09 23:26

      It is very simple. The ANC leadership, and especially ShowerHead himself, have to come out with a decisive amd unequivocal statement against nationalisation and put Juliarse Seizure in his place for once and for all. But they won't because they are all too busy fighting their own petty little squabbles trying to maximise their own power positions. Not one of the ANC cadres care the least for the poor South Africans, whatever their colour. And the latest disclosures on JM make it clear that he only wants nationalisation so that he can then sub-contract all the gravy to himself and his cronies the way he is doing with the Limpopo roads contracts.

      Neil - 2011-08-09 23:37

      @Farmworker: 1: 1st step the majority can do is to stop believing all the ANC lies that nationalization will give them a better life.. Because we BOTH know the only ones that will be "enriched" is the Malema-Tender TROOP.. Funny how the saying Amandla- power to the people is misused by the ANC cadres, but where is the power going?? Not to the people, that I can assure you. As for the DA. They are a thorn in the ANC's side and you can't take it that an old lady like Zille is putting the ANC especially Malema very nicely in his place. And I am sure they can come with a much better solution, once the "masses" decide not to break toilets down. (How can you expect people with that mentality, breaking their own toilets down to understand.) Nou kan hulle maar in die bos gaan kak.. En sommer jy ook.

      Lauren - 2011-08-10 01:50

      Farmworker, the DA does talk, but you do not seem to want to listen. While they are busy operating the best run province, the rest of the country is sitting scratching their heads about how to get rid of rampant corruption. There are no quick fixes. If you want to point out the rich/poor divide to me in Cape Town, I am going to swiftly point out the Sandton/Soweto dichotomy to you. It's simply not tood enough anymore to try and justify the rape and pillage of our leaders anymore. You're an intelligent guy, you can figure it out. Getting people out of poverty? Education. Allowing them to do what those you hate did. Do it for themselves. Nobody came along on a speed boat and put down established businesses for those who own them. WOZA AFRICA!! She can do it. You be the start! What are you afraid of? Go do your own thing. I know you can!!

      PB - 2011-08-10 08:24

      @Lauren, BRAVO!

      DeonL - 2011-08-10 08:40

      Moeketsi Mbeki said recently that the ANC can not govern, we can see a regime change within 10 years, so the ANC better shape up or they will be voted out. The poor will get better if they start working and save money.

      vandermerwe.martin - 2011-08-10 09:03

      And how do you think nationisation will help the poor, did the ANC helop the poor in the last 17 year?????????????? Sorry they did, making them poorer. IDIOT!!!!!!!!!!!!!

      PB - 2011-08-10 11:37

      "Moeketsi Mbeki is just another useless person, always critical without a way forward" farmworker, you should go ask for a refund on your schoolfees (that is of course if any was ever paid) - you obviously can not read. Moeletsi Mbeki is one of the brighter people out there - he has given many suggestions on "a way forward". Much more so than what comes out of the combined suggestions of whole of the ANC. You, meanwhile, are a typical 'youth' who has much to say, but very little to contribute.

      myancmyfutur - 2011-08-10 12:12

      I find it quite amazing that the DA prefers absolute silence over the matter. "Nationalization debate" does not necessarily mean we are going to nationalize but rather looking at the feasibility thereof. We need to understand how it has failed in other countries and the possibilities to ensure that the mining sector doesn't only benefit the golf playing magnates somewhere in London. We need to learn a lot from the Asbetos crisis where the industries left chronic illnesses to the surrounding communities who never even benefitted from those operations. People often tell us that we should be thankful fot inheritting a well built country but they forget that it was our people who built that country nor highlight the debt that we inheritted along.

      Wade Mackintosh - 2011-08-10 12:14

      @farmworker - i think your criticism blinds you. whether alternative solution come from the da, an expert or an educated mind, you quickly condemn the theory. liberation is born from knowledge. FREE YOUR MIND AND YOU WILL BE SET FREE

      StoneAngel - 2011-08-10 12:51

      Farmworker - how many failed National operations do you need to show that the nationalization of mines etc will not work - ESCOM, SAA,TRANSNET,TELKOM,SABC to name but a few - there are many others which charge us a fortune so that they can stay in business and stay below the radar.

      tracer - 2011-08-10 13:40

      you're such an idiot.

      Looking@SA - 2011-08-10 14:07

      @farmworker; here are a few suggestions. Clean up government, stop talk of nationalization. Create new farms rather than take existing. Have universities emphasize agriculture curriculum. Create a mentoring program along with aggi education to teach new farmers how to create commercial farms. Through irrigation create new farms. Emphasize education and make it world class. Encourage foreign investment through tax incentives and don't discourage it with talk of nationalization. Those are just a few and I'm definitely not DA

      farmworker - 2011-08-10 14:26

      @tracer Please don't start with me, stupidity runs in your family

  • william.botha - 2011-08-09 22:45

    Nationalization could work in Alice in wonderland, or maybe in the kingdom of far far away. But lets analyze why we have come to this, and the reason is the sick and reckless plundering of state funds combined with the greed of corporate fat cats. Both are to blame, corrupt and incompetent government officials and sponging parasitic corporate criminals. Yet they keep on their doomed path, even though the writing is on the wall.

      John Wilderness - 2011-08-11 07:21

      Well the other end of the stick called capitalism is not doing too well either. Maybe a party that can take all the fat cats and sate coffer looters, both ANC and NAT, too the cleaners and get every last penny back or one year in jail for every Rand they can't return.

  • Macho Mike - 2011-08-09 22:49

    Dr Marc Faber tells it like it should be told......... http://business.iafrica.com/news/745187.html

      william.botha - 2011-08-09 22:55

      Don't we just know that already. Problem with these guys is, they have the lowest possible ability, but the highest self esteem. In Afrikaans you call that dom astrant.

  • slg - 2011-08-09 23:03

    Understandable, given the level of unemployment, but definitely damaging and nationization is in any event hardly likely to help. This is clear.

  • Rev. H-Cubed - 2011-08-09 23:14

    The truly sad part is that we have the capacity to be an economic bastion amidst the global turmoil, if only we could place the correct hands on the rudder.

      william.botha - 2011-08-09 23:17

      Amen to that

      unknwnartist - 2011-08-10 00:32

      @Rev. H-Cubed Wise words in all the above comments! I also tend to agree with what William.Botha puts forward. Unfortunately, i think, the only way we are going to realise that we need to work together would be through a huge catastrophe or joining together to fight a common enemy. Looking at the News24 forum one sees the rot and the divide spreading through our society.I really hope im wrong.

      Lauren - 2011-08-10 01:52

      So true. We could be balls to the walls, but we need to work together on this one.

  • Hamilton Ngwenya - 2011-08-09 23:26

    Efficient economic management as well as our affiliation to BRICS & other trade organisations as well as willing investors should be carefully monitored to benefit all partners involved. We should at the moment fight corruption, financial mismanagement and irresponsible rhetoric to take full advantage of all the opportunities @ our disposal. It will take political will, good labour and trade laws to take SA forward.

      Lauren - 2011-08-10 01:53

      Eish, Hamilton. Lekker comment. So true.

      Richard - 2011-08-12 10:15

      Hamilton - such a pity that what you're pointing out is the clear solution yet our leaders are hellbent on deepening the very issues that need to be decisively rectified. Good to see an intelligently stated comment without the usual vitriol.

  • Tebza - 2011-08-09 23:30

    nationalisation or No Nationalisation - the point is, the current economic model doesn't work and cannot transform the economy. Nationalisation can only be avoided if privaye companies adopt transfomation. otherwise, nationalisation will happen. However, blind nationalisation will olso fail the country, and therefore, a balance between capitalism and socialism is a way to go.

      Lauren - 2011-08-10 01:58

      Tebz, how do you balance two opposed economical models? Why are we focussing on that which has already been built? Where is the focus on new blood? New development? Surely our African brothers and sisters are capable of setting out and accomplashing what their hated white counter parts have done? This economy is large enough to accomodate new business people. Surely the African person is worth more than standing begging and fighting for ownership and control in something he did not build? The African I know has more pride than that. EK SE...WOZA AFRICA!!

      Jamesons - 2011-08-10 07:30

      So if I own a company, i must transform it. Why cant a new business start and it will create more jobs. Instead of taking, what about creating?

      Christo Stone - 2011-08-10 07:33

      I agree with you there. BUT, and this is a big but...if you have black people in positions in large companies that cannot do their job, then what is the point? And BEE only benefits some...the lower class citizens aren't benefited with this. Government should start from scratch and work on education so that EVERYONE has a chance to succeed and not the lucky few. Education is the key out of poverty.

      Lab-Rat - 2011-08-10 09:20

      Maybe you should be taking some resposibility and start looking a little closer to home for an answer to that.

      John Wilderness - 2011-08-11 07:26

      @Jamesons - Out of a people deprived of education, resources and skills for the last 50 years and more, how do you expect them to create anything meaningful from start ? I do not think anybody wants to really take but maybe there is room for a lot more sharing. BTW It is proven that the captalists trickle down nonsense economics just does not work.

      Looking@SA - 2011-08-11 14:35

      @Tebza Refer to my comment above to farmworker. Take all the poor and disadvantaged of SA divide up what already exists in the country among them and you will still have the poor. That is how nationalization is SOLD but that is never the reality of nationalization. The businesses and assets wind up in the hands of the state and they distribute them for political gain. And after that is done, what you won't have is an economic engine to run the country. Those who own businesses are gone. Do you think that if you take my business to "transform" the economy that I'm going to stick around to run that business? And after you take my first business I'm going to start a second business? NO, I will leave and take my business and entrepreneurial skills with me. In fact, if I were a business owner, that is a part of the economy that JM is talking about nationalizing, I'm already looking to get as much of my business and my assets out of SA. In fact I would have been hedging my bet ever since this whole talk began. Yes transform the economy by nationalization give every poor person a fish, I will always prefer to teach them HOW TO FISH for themselves.

      Looking@SA - 2011-08-11 14:36

      @ Tebza correction: that is how nationalization is sold to the poor; that they will get a portion of what everyone else used to have.

      Kent007 - 2011-08-11 19:59

      @Christo Stone I agree with education is the solution, but for the last 18 years we stuffed that up aswell. What a shame and waste of time.

  • letsee - 2011-08-09 23:40

    Can anyone save South Africa from the South Africans?

      Lauren - 2011-08-10 02:10

      Yep, the old school entrepeneur can. The man and woman who is not afraid to start something from scratch the same way all business was crated in South Africa.

      Jamesons - 2011-08-10 07:31

      yep, I agree lauren. People in South Africa must think of creation of new companys. create jobs.

      jacques.stander - 2011-08-10 08:06

      from the Africans !!

  • jacques.stander - 2011-08-09 23:41

    is the ANC run by retarts....o wait, it is.!!

      Jamesons - 2011-08-10 07:32

      corrupt retards

  • Yankee - 2011-08-09 23:48

    If there was a Gupta or a Reddy, a Zuma, a Mandela or a Chinese name involved in the Walmart deal, there would be no problem at all. I suppose that the ANC feels rather embarassed that Walmarts GDP is larger than that of SA.

      Creeky - 2011-08-10 09:04

      Yep @ Yankee........NONE of the names mentioned on the OFFICIAL LETTERHEAD... so this BUY-OUT WILL BE OPPOSED!!!!

  • Hamilton Ngwenya - 2011-08-09 23:56

    South Africa is THE LAND OF PLENTY and ample opportunities with a potential to amass a lot of wealth due our cordial foreign policy on all sides of the globe, be it Arabic, Western or Asiatic. No country in the world is so self-sufficient to making it without any foreign investors and good returns for investors as well as investment protection guarantees. Are we already well-equipped to run all the mining ops and distribute the wealth equittably with so many service delivery hiccups? I think not. One stupid Juju sneeze sends cold to the potential job creation investors.

  • sipholess - 2011-08-10 00:54

    @ Nongoloza. I hear you, but there is nothing you can do about it. Ten years ago I had the same enthusiasm as you have now, circumstances are a factor for one's actions and South Africa will become just another African county with a begging bowl, very unfortunate but it will be so. happen !!

  • Digger - 2011-08-10 00:58

    @msendi, yes you are correct in not liking the word black people in the same sentence as uneducated, barbaric and all that nonsense. Maybe you will know how we feel when our government officials refer to the white capitalists, thieves, rapists, white bass and many more derogative terms.

      sipholess - 2011-08-10 01:24

      Another deluded South African, They hate you !!! Wake up.

      Lauren - 2011-08-10 02:32

      I was poised to hate on Digger, but he has a point. For every label you feel is unfair, the white man has a label too. You think we can drop it? Be South Africans, rather?

      Komasa - 2011-08-10 05:01

      @Digger JM is no government official and he is the only one that has used that termanology. Otherwise point taken, I don't think it is possible.

      Steve Wonderboy - 2011-08-10 12:36

      @Komosa Actually Malema IS a government official. Do you really think an ordinary citizen would have been allowed to speak as much none-sense as that guy, and not be taken to task? Right in front of the president on more than one occasion. Reminds me way too much of how Mbeki used that health minister to further his causes. She is such a idiot, I can't control her. Yeah right!!

      Komasa - 2011-08-10 12:46

      Steve if the ANC were not in power JM would still have his job and would still be paid 'R 20 000' per month. He is a party official not a government official.

  • Digger - 2011-08-10 01:22

    @ Eurocentric, That sounds all good and well, but you forget one thing. At what level was the inhabitants of southern Africa when us white dogs arrived? The damn wheel hadn’t even been invented yet…so who was responsible for causing that lack of development? Us whites again….no we didn’t even know that Africa existed and thought the world was flat, but yet we had developed enough to have boats and navigated by the stars to get there. So no, sorry I don’t think we take all the blame for suppressing black people, yes we took advantage of the fact that they were so far behind us and most of the world. It’s time for black people all over to take ownership of their own position and work to change what they feel is lacking. I am not a very clever person, so who’s faults that? Must I spend the rest of my life blaming everyone else who is smarter than me….No I just must work harder, study longer and do the best I can to make a decent living for myself. Blaming everyone for my shortcomings will not change my position but will alienate those that could help me.

      Ryan Tunney - 2011-08-10 08:20

      And more than that, you never had a country before the settler arrived so what country do you recon was stolen from you? What was the name of this country that and what were the pre-settler borders of this country that you guys recon was "stolen" from you??

  • carlo - 2011-08-10 01:53

    Walmart, I refer HEB, better quaulity. That is to say if you have experienced a Walmart. Which is very unlikely, because you live in South Africa, and I live in North America. Secondly, it is easly to talk about something, if you never experienced it.For example, if you nationalize a bank, all the money belongs to the people, no private trust funds.

  • carlo - 2011-08-10 01:58

    Watch the Keiser Report on RT. Maybe we can all learn something about what is going on.

  • backhome - 2011-08-10 04:55

    You guys are getting scary. I think you can say goodbye to the Square Kilometre Array (SKA) as Australia has a stable government and no Malema's to be seen.

      Steve Wonderboy - 2011-08-10 12:24

      Let us hope it stays that way.

  • Komasa - 2011-08-10 05:50

    Dion George last week the finance minister met with the reserve bank and commercial banks, and they in turn met with finance steering committee and then they put out a statement saying everything is under control. Where were you? Do you know SA has the best Debt to GDP ratio in the world? The undertone of your comment is we must make sure the corporates are protected. Tenders don't 'rob the poorest of society' but year on year increases in EPS. CEO's salaries, retention bonuses, performance bonuses, annual bonuses and share of profits 'rob the poorest of society'. Have you noticed the social revolution has started in Europe using one of your profit generating creations 'social networking'.

      muti - 2011-08-10 09:28

      @ Komasa. The forst part of your comment makes sense but is negated with the rest of the drivel you spew. I wonder if this is politically motivated or just your lack of thinking clearly? Company EPS, CEo salaries, performance bonuses...., etc will ALWAYS be there. They will not get them if the company posts a loss BUT all the parastatals' bosses, despite huge losses annually and government bailouts on a regular basis, get astronomical bonuses, bigger salalries, etc than the private sector. Furthermore, the billions lost annually through government corrution, misappropriation, inflated contracts value through tenderpreneurship, lack of infrastructure maintenance, loss of international investment through government actions/inactions, (MUST I go on?) make the corporate excesses (and I agree, they ARE excesses!!)look like a grain of sand on the Beach of Greed. NOW tell me, who are robbing 'the poorest of the poor of society'???

      Komasa - 2011-08-10 11:22

      @muti maybe politically motivated but Dion opened his statement on nationalisation and then went on to say what happens in a global recession which I think being the second one since 2008 we all have a good idea of what happens, major retrenchments, and I see that annoucement has since been made. Retrenchments before have mainly been at 'general worker' level but this time it is going to be up to middle management level. That brought me to the subject of the likes of CEO's who on average, and I am talking about JSE companies, give themselves a 28.5% annual increase excluding all his incentives, and their remedy for poor performance it not cut their increase or even lower their salary but to retrench. One example, the CEO of our second largest bank in SA earns R47m per annum excluding any bonuses. When I was in the formal sector the going 3 years ago the going rate for a CEO was R 30 000 per thousend employees. That bank does not employ 135 000 people.

      inyaniso@24.com - 2011-08-11 11:08

      What happens at a private level is the business of the shareholders. If they are prepared to entertain such extravagant payments and still look to secure their investments it is entirely up to them. If they make poor decisions the volumes of investment they receive will stop. In the public sector however WE ARE the shareholders as our investment in the form of tax is what drives these parastatals. It is here that I am looking for answers. Only someone who is wildly socialist will overlook this and seek issues with the private sector Komasa.

  • bossfromhell - 2011-08-10 06:19

    From age 19 I have spent most of my life including weekends working hard and productively 14 to 16 hours daily to build up my businesses. I wanted to expand and would have employed 12 additional people full time and created 120 indirect jobs for 3 years. When this nationalisation talk started I held back(being 50 I cannot start over - I am worn out). Within the next month I am retrenching an additional 7 people and have put all projects in South Africa on hold. The USA and Australia is more viable to me - what I work for is mine.

      lapfa - 2011-08-10 21:00

      Go but you will come back.

  • Mu Afrika - 2011-08-10 06:29

    To the DA and others who think like them. This is not s sign that there is a problem in South Africa or its economic systems. It is a sign that there is a problem with the WEST and with their economic systems. Yet we all aspire to be like the West. To what end? Denying a company access to your country because they have bankrupted their moral fibre due to greed and profiteering is actually the right thing to do. And South Africa will not be the first to do so.

      On the Verge - 2011-08-10 07:47

      Agreed. So do you have a better model? SA needs to create it's own - but nationalizing mines and farms is not the key. It needs to start with individuals realising that government is nothing, without the working public - no more hand outs, no more strikes, no more go slows, no easy jobs for friends. The government has become a haven for unashamedly lazy cons. Where is the work ethic? Where is the job satisfaction? There is none in most government organs, due to a lack of understanding of the purpose of the public sector - and now we want to hand the mining houses to the most unproductive sector. Our mines will crash b4 they even get started. Safety will plummet, and our economy will crash. IT all starts with education. I'm not talking school either. I'm talking the deeply rooted maternal and paternal instincts that drive parents to raise their kids the right way. It all starts at home. Most kids that loose that grounding in their pre-school years, will never have the brain design for understanding - not learning, understanding. The majority of black students whom my little company have funded through university, are still absolutely clueless when in the real world. They learn, but do not understand things from 1st principles, and lack the confidence to use their brains to solve problems. I am not trying to create a race issue here, but am simply stating that out of 11 students we put through degree's in engineering, I would only employ 2. Why is that? We want to help.

  • Jack Hudson - 2011-08-10 06:39

    Nice post http://www.news24.com/

  • Ryan Tunney - 2011-08-10 07:09

    Nationalisation is an indication by the ANC government that they never wish to relinquish power. It's almost like they believe that they're a party for life. Relinquishing power would mean effectively giving up the mines to another party and thus would mean giving up your wealth. Can anyone see the ANC relinquishing power if they were to be voted out and thereby giving up "their wealth" in the form of the country's mines and minerals? It won't happen in a million years. That's why the rest of Africa has civil wars and dictators.

  • Jamesons - 2011-08-10 07:12

    TOO LATE, If I was an investor, what’s my guarantee this won’t happen in 5 years, or even 10 years. Most investors come to invest for long term. Why should I invest if my money will be taken away from me in 10 years. You can thank the uneducated part of our government (ANCYL) that no investors are likely to come here as there is no guarantee. Result to less jobs and we all suffer, Rich and poor.

      djmilano.26 - 2011-08-10 08:54

      Well you are wrong we don’t want those type of investors in our country, we will mine our own minerals them instead of exporting most of the raw minerals we will manufacture the end products here in SA then we will export.

  • BlackRealAfr - 2011-08-10 07:23

    DA is a racist party, and doesnt want to see black people get out of poverty and they will never do anything to save the poor. why continue to call for your white uncles to come and loot our minreal resources whiles the majority of black communities continue to suffer in hunger. We will nationalise we are just working on how we will be doing that. The country is preparing itself for this and DA must wake up Bloody Agents...

      Jack Spam - 2011-08-10 07:32

      I would love to know what you think will happen the minute the mines are nationalised? End of the month all poor people queue at the gate for their share of the income? There are black/brown/yellow and white poor people all over the world. The poor far outnumber the rich everywhere you go. This idea that nationalization will suddenly uplift the poor is a joke. Get a clue guys.

      Smaal - 2011-08-10 07:35

      Who are we and do you have a list of who will get what after nationalization? Also tell me, how much of that 300 million ANC bribery money did you and your family get? Hahahaha you probably also think that the Zim nationalization strategy was a huge success. Bloody African tenancies!

      AJ - 2011-08-10 07:37

      Badly run municipalities and poor fiscal discipline keeps people in poverty. On that basis alone the DA is doing more than the ANC to uplift people. Oh, and people's future hunger is more directly dependent on the agricultural sector than the resources sector. The bottom line is, if you are remotely interested in improving the plight of the poor and the economy for all then the ANC and it's policies and behaviour are the last things on earth you would support.

      umlaut - 2011-08-10 08:35

      blackrealafr--))How wrong can you be--don't you see that is exactly what all whites would like to see in SA that ALL people can get out of poverty in SA-(to get out of 'brain poverty' also) If people around you are happy and prosperous it is like a feeling of festivity. What grinds the whites is the fact that the money is there now to uplift all, but has just slipped into the wrong places (pockets)+(king of Swazi) The farms are there to farm on but going to ruin,--farmers are offering their farms for redistribution but some officials are deliberately stalling as not to pay for it. (waiting for farm invasions and land grabs rather) With the whites voting for the abolishment of apartheid the wish was for SA to go forward and for a while racism wasn't an issue. Things are so bad now that the anc has proven that that was a mistake to abolish apartheid so soon or all at once, and they actually didn't want a prosperous SA but a kitty bank for their personal enjoyment and friends that will participate in their rape of SA. Speak to people in Cuba and hear how 'happy' they are,---- if they are allowed to speak to you?. And do you think the nat. process will stop at mines----,??!! mugabe has torture camps in ZIM for those who don't like the payment for work on the mugabe mines---it is coming here also.

      mzanzirules - 2011-08-10 12:16

      Sheesh comments like thse are just stooooopid like you.....

  • umlaut - 2011-08-10 07:29

    Baby brain argues that nat. was included in the charter of the anc when it was established and the anc and him lives in a time slip where conditions have changed drastically since those days and Cuba and other lived with and spewed it out again, and now even Cuba is busy thinking of a free market and true economic freedom and implementing it on a small scale. The behind the times anc must rewrite their charter of destruction. The anc will never get rid of the instigator and when they have these meetings with the ancyl it is actually just to check if all is on track still and they issue him with new instructions. The attitude of the anc is the problem and they have hidden secret agenda that doesn't spell good for SA. Maybe they have this childish idea to control all at the detriment of SA.

  • nvl - 2011-08-10 07:38

    Resistance is futile! Just do it already the faster nationalisation, land expropriation, and job expropriation begin the better, 1994 was just the beginning... "Set the wheel of change in motion, Let's have the final 'revolution' now, Set the wheel of chance and let it roll away …" I say give it to them! Maybe then we shall have peace in this country!

      umlaut - 2011-08-10 09:12

      That is exactly the idea of the anc---the longer they press for something they want, the more they will break down resistance to stupid ideas,----- and then they implement it. Don't give in to nationalisation--it is the beginning of the end for SA.

      nvl - 2011-08-10 11:38

      So what do you suggest we do?

      umlaut - 2011-08-10 12:31

      Keep on moaning, complaining, whining and try to get private business to organise informative videos or programs on tv to show the bad side of nationalisation. The uneducated can't be blamed for just following populist lies, and adding their voices in support of something they are told is fantastic. The international community can also apply pressure if they know not everybody in SA is on the self destruction path, although as some body wrote it has already done a lot of damage. If the anc is to get their calculators out then they can calculate the loss of income if they follow the nat. route.

      nvl - 2011-08-10 14:05

      All the info we are trying to posted on the internet are being deleted, so we lost our only tool that could have saved us... everything seems to be controlled by the ANC, if we say anything negative about nationalisation and such we are considered to be counter-revolutionaries, racists, right wingers, capitalists or conspiracy theorists and people refuse to take us serious .. Big business have their own agenda and I don't think they will make a difference. The biggest tool to change the system in this country is still the black masses. They get brainwashed everyday by SABC and ANC propaganda which becomes more and more powerful. White people in this country feel like a cow before slaughter; it feels it's end and it doesn't matter how much it kicks and screams it can't avoid the inevitable. :/ (this article may be of interest to you http://www.politicsweb.co.za/politicsweb/view/politicsweb/en/page71619?oid=250154&sn=Detail&pid=71616)

      Neles - 2011-08-10 16:39

      lol

  • Proefleser - 2011-08-10 07:39

    Yoohoo? Anybody Up There listening?

  • Malcop - 2011-08-10 07:44

    I think that regardless of how one looks at the topic of Nationalisation, the whole globes problems boil down to greed and oppression. Not oppression by one racial group over another, but greedy oppression of rich over poor. The rich manipulate themselves into a position of power and wealth, and seem to be extremely insecure about losing or sharing the wealth. The poor, try to manipulate themselves into a position to at least have a little share of that wealth, in order to survive, with at least a half decent life style. Unfortunately, the poor are in a much more desperate, and vunerable position, and open the door to people such as Malema, using that desperation as a tool to use and abuse them. Malema uses the nationalisation debate, with the end goal being his own wealth and power. The poor and desperate, will believe in anything, out of poor desperation. Sad but true.

  • Ryan Tunney - 2011-08-10 07:54

    @Mangena1...firstly I'd like to to clarify what you mean by "black people live like slaves in their own country"...let's remove the borders of RSA that the settler created from the map of RSA - now please tell me, what country are you talking about. Please clarify what land you believe to be "your country" as per the way it was before the settler's arrival. What was the name of this country you speak of and what were it's borders? Secondly, with all due respect blacks live like slaves in all the other countries north of RSA without any whites living like kings there. What do you attribute that to? You need to get your brainwashed little head out of your ass man. You never had a country before the settler got here so what makes you think you have a country now?

  • baudtin1 - 2011-08-10 07:55

    Africans are the most uncompassionate race on earth. They simply do not care, as long as the Top Dogs are ok, its all good. Lack of Investment will simply be "fixed" the African way by taxing the greedy, rich white people...

      Proefleser - 2011-08-10 09:49

      I thought Ubuntu was an African concept?

      Neles - 2011-08-10 16:39

      lol

      AJ - 2011-08-11 03:30

      @Proefleser: Ubuntu...Unicorns....

  • Ryan Tunney - 2011-08-10 07:56

    @Mangena1...firstly I'd like you to clarify what you mean by "black people live like slaves in their own country"...let's remove the borders of RSA that the settler created from the map of RSA for a minute - now please tell me, what country are you talking about? Please clarify what land you believe to be "your country" as per the way it was before the settler's arrival. What was the name of this country you speak of and what were it's borders? Secondly, with all due respect blacks live like slaves in all the other countries north of RSA without any whites living like kings there. What do you attribute that to? You need to get your brainwashed little head out of your ass man. You never had a country before the settler got here so what makes you think you have a country now?

  • Ryan Tunney - 2011-08-10 08:09

    @Mangena1: You never had a country before the settler arrived so what country do you recon was stolen from you? What was the name of this country that was stolen from you?

  • mac-d - 2011-08-10 08:15

    "nationalisation of mines"i really forsee danger an a huge downfall of our country, that on it's own it's big blunder straight. these so called "ANC leader",wnat to get wealth at our expense because we are 1s who will cry at the end.

  • So What If.. - 2011-08-10 08:22

    @ Eurocentric. You talk too much and say too little. The problem here is that malema is creating expectations amongst the poorest and most uneducated masses. They are not to be blamed, but those that are advocating nationalisation are to be blamed. As a small businessman employing (only) 4 people, I've put on hold plans to expand due to these calls. Just imagine how big companies, investing billions of dollars, must feel and react.

  • stofsuier - 2011-08-10 08:38

    If you want to destroy this country completely then nationalisation is the way to go !!!!!!!!!

  • djmilano.26 - 2011-08-10 08:41

    NO NO NO Damaging what ? we dont want investors who come with their own laws and regulations to our country, this is our country we lay down the law. This people are making Billions off our mines, lets nationalise these mines its ours after all.

  • Bemused - 2011-08-10 08:41

    The racists on this site are one of the prime reasons that nationalization is on the cards. The assumption that all blacks are stupid and lazy is enough to drive most of them straight into the nationalization theme with glee. So when the mines are nationalised as are the banks and everything else, don't blame the ANCYL only, you have also driven a lot of people in that direction with your attitude. And nationalization is going to happen, IMO, whether we like it or not and whether it'll work or not. So be forewarned because once the banks are taken over, what is going to happen to your savings and investments? So you better be planning what you're going to do in a few years time and remember, you have had plenty of warning.

      umlaut - 2011-08-10 12:57

      bemused---have you also got a bank account? --and if they are driven to nationalisation because of the assumption that they are stupid and lazy---and then they want to destroy the economy because of that----THEN THEY ARE STUPID AND LAZY TO THINK. (not physically lazy) Proof to us that you can do better than administrations of the past and we are right behind you.

  • vandermerwe.martin - 2011-08-10 09:00

    It will hurt the country tomorrow, NOT TODAY, so there is no problem, they can't think further than today.

  • Badballie - 2011-08-10 09:16

    Bottom line. whether we have investors or not any money produced will be spent on "uplifting the poor" and very little if any will actually make it to the man on the street. FACT South Africa remained on par with the American economy for 20 years during the sanction days, to say that we now need foreign investors (read as selling our right to the mineral wealth of the country to foreign owned companies and foreign shareholders will only enrich the rich, it has absolutely no benefit for the man on the street. Government is expendable if it does not serve the best interests of the people.

  • Badballie - 2011-08-10 09:18

    There are a lot of comments about Walmart here, Remeber Walmart is exactly the same as the mining companies mining here as well, the only threat Walmart posses is to the business owner and eliteist who will have to cut their own profit margins to survive. Life is about the survival of the fittest and if you can't compete you need to be shut down, low prices benefit the poor not the rich and this is the only objection to Walmart.

      John Wilderness - 2011-08-11 07:48

      @Badballie - That is a load of bollocks. Many developed countries will not tolerate a foreign business obliterating local entrepreneurship initiatives. The current global economic climate proves that free trade is not fair trade and is very destructive. Pure capitalism is a proven failure. The markets cannot regulate it self due to greed. Pure communism is equally destructive.

  • Jonathan Farrell - 2011-08-10 09:31

    Could they just get rid of Malema already? Im sure there are plenty of Zoos in the world looking for a new entertainer

  • Texxx - 2011-08-10 09:31

    This is now the millionth person to come out against Nationalisation, but you think they are listening.... I'm not holding my breath. It becoming time to prepare for the inevitable...:(

  • camp.j - 2011-08-10 12:16

    I'm a huge supporter of the DA but this is enough already. It's become like an echo, "Nationalisation debate is damaging" We get the message peeps.

      AJ - 2011-08-11 03:31

      You get the message, I get the message - many who have more sway than us dont though, hence the message is still important.

  • Steve Wonderboy - 2011-08-10 12:20

    Would be nice if they could give a damn. Unfortunately they have no-one's interest at heart but their own. ignorance + arrogance = ANC

  • Nikelle - 2011-08-10 14:12

    People Walmart are a globle buisness and opperate as such . They get discounts that none of the SA buisness will be able to get . While this is good for the Consumer in the short run , it is bad in the Long run .The products we will buy will all be imported . We will no longer have money to buy them , as we will no longer have jobs . If anything , Europe and USAs problems should teach us that a country must manufacture products and not import everything . I believe befor taking mines and farms away from people lets make a law that at least 50 % of all products sold in our country should be made in our country and companys who fail to do this should be taxed more. To promote and assist our fellow africans lets saying that 10 ot 20 % of a companys total imports must be products whos' origin is Africa .

      John Wilderness - 2011-08-11 07:52

      Nikelle - Cannot agree with you more. What is the use providing cheap goods when it destroys local jobs. Who is going to but those cheap goods ?

      Pharo - 2011-08-11 14:48

      What do you think we manufacture in this country anyway? Go look at the shelves and rails at Game and Makro. Most of the stuff already comes from China. A%# hole. Walmart will just get it in the stores at lower prices. I can't wait!

  • Baddaboom - 2011-08-10 14:14

    I just wanna see a proper political debate between ANC and DA> We need to see that the relevant problems are being dealt with intelligently! I dont believe this is happening and i would like to see comments from both parties!! I still dont understand why this doesnt take place in our country? It happens all over the world and people will select their parties based on the response recieved by the speaker of the different parties!! I think the ANC is scared they will be OWNED by the other opposing parties!!!

  • Andrew - 2011-08-10 15:50

    @Tamarasaysa - I agree entirely but at the end of the day ive given up trying to find a good thing they decide on - the Rand has dropped so heavily the last few days and the world is just passing them by

  • mcirha - 2011-08-10 17:41

    if the price of just one metal, gold, which they have been extracting for 300 years in this country is worth $1500.00 per ounce, you shudder to think the worth of the many tonnes of gold ore they produce a year. do the maths it is astounding.....nationalisation, whom does it hurt? and whom does it benefit? what the youth league is saying makes a lot of sense....africans must start to talk with authority where their interest are concerned, the concept is called business and business investors in this world understand it very well and oh.. i forget who hasn't seen them pour investment dollars in war torn warring nations or not so democratic dictatorships. south africa is a walk in the park for them in comparisons...

      RS1465 - 2011-08-10 18:34

      My brother 1 thing we know is that investors take risks by investing in coutries where there is even war. America has invested billions in Iraq, so the current 1nc can take thier money to whateber country. Economic emancipation of blacks has just gained momentum and we will partner with any investor who cares about the wellbeing of the majority. It is very suprising that most whiyes are talking about the infrasture that they built in these country whilt we know that they just imported (they never inveted a thing) all these. so our kind will import knowledge like they did. In fact the only thing good they have dne is by investing in ensuring that blacks do not succeed in their aspirations. We are the 1nc who built these infrastructure but notbeing rewarded accordingly..Let them go t hell or sorry Austratlia.

      AJ - 2011-08-11 03:35

      @mcirha: gold has also been $250.00 per ounce. Countries need more than currently high priced minerals to survive. Looking at countries that have none is a good start. You need strong competitive manufacturing, great transport, well oiled infrastructure, overseas investment, inflation control, strong education commitments, protection of civil and human rights, and good adherence to the law - South Africa at the moment has only 1 thing going for it - great prices for minerals. That will change, just like we slipped from top gold producer in the world to 5th or 6th. South Africa is not doing enough by far to thrive.

  • lapfa - 2011-08-10 20:58

    Economic freedom in our lifetime. The people commenting here are doing so because they have something in their stomachs.