‘State of SA’s economy keeps me awake at night’ – Ramaphosa 

With the country’s 34.9% unemployment rate being the highest on a global list of 82 countries and the Eurozone monitored by Bloomberg.
Image: Waldo Swiegers/Bloomberg

President Cyril Ramaphosa says the state of the nation’s economy and the high number of people out of work keep him awake at night.

“The state of unemployment, it is a very difficult thing to have to countenance,” Ramaphosa told reporters on Wednesday in Cape Town.
The millions of people in South Africa “who are not economically engaged in any activity: that is enough to keep me awake at night. It concerns me a great deal,” he said.

South Africa’s economy is struggling to recover from its worst contraction in almost three decades in 2020 because of the coronavirus pandemic.

Growth last year was stifled by the worst riots since the end of apartheid in 1994 that left 354 people dead.

The nation’s 34.9% unemployment rate is the highest on a global list of 82 countries and the Eurozone monitored by Bloomberg.

Read: SA welfare recipients surpass number of taxpayers

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BEE = Unemployment.

We have the highest unemployment rate in the world because we have the largest number of BEE beneficiaries in the world. The unemployed are poor because the president is a BEE billionaire.

The combination of labor laws and the minimum wage destroys the relative productivity of labor. These laws price the unemployed out of the market. The law creates an insurmountable barrier to entry into the jobs market for the unemployed, to favor Cosatu members who enjoy a monopoly in jobs through their affiliation to the Tripartite Alliance.

This reality, plus the fact that the Tripartite Alliance is responsible for the largest inequality on earth, should keep him awake all right. He has all the demands from socialist workers’ unions on the left side of his bed, and all the demands from the unemployed masses on the right side. He will choose to go with Cosatu for the votes. Stuff the unemployed masses. “If they haven’t got bread, let them eat cake” – to borrow from Marie Antoinette.

As the captain, he will go down with his ship called the Tripartite Alliance.

Mr President, what comes out your mouth does not in any way resemble your convictions! If your convictions were the same, you would’ve jumped ship to another Party a long time ago to try save SA! But alas, that is not really a concern of yours, compared to your concern for the corrupt, inept ANC !! On second thoughts, perhaps it’s better that you have stuck with them!

End of comments.

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