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A lot of ‘creative accounting’ going on with the property sector.
Oops, excuse the pun, but avoid like the plague.
LOL — Vote ANC !!!
My dear Eskom — How do you dare threaten the suppliers of government bribes !!
We want — Pity your enchanted government has not built a proper sized dam in at least 15 Years — Suffer babies Suffer !!!
its looks like a diamond, smells like a diamond, tastes like a diamond. mmmmm. At the end of the day its just a piece of compressed of carbon that’s been marketed to us for our $$$.
Dr PETRÉ PRINS, why dance around the question on the environment. this is what happens when the industry sweeps the issue of terrible labor practices and corruption under the rug. Customers move to a different product. In this case its the same product without the baggage.
Delusional nonsense. Modern day Tulips – make sure you get out in time. Those already invested will continue hyping it to drive the price up. Who do you think’s selling what you’re buying today?
Love to know how SANRAL charges full Toll Fees while they have taken a freeway from two lanes down to one for repairs . A corrupt monopoly me thinks !
Go for it ! While the courts are still not 100% captured.
Imagine the incompetence and corruption!
The more like them ..the better
So we pay rates and taxes, then private enterprise still needs to get involved in order for the service to be delivered.
Is South Africa Socialist or Capitalist it appears SA is trying to do both at the same time.
Taxes for Government salaries
Private/Community to deliver services
I’m afraid that global traders and fund managers have developed a mindset of instant profits, perhaps being nagged by their investors who are suffering FOMO when they get barraged by the cryptocurrency crowd for whom an annual 200% profit is the new normal.
I’m kind of surprised this is still news …
Philanthropy is commendable as long as it is voluntary. Populist politicians are false philanthropists when they expropriate the property of others to spend on welfare projects. If this is a voluntary act of kindness, then the proposal should come from the vaccine companies and not from politicians. When we remove the profit objective we destroy the motive to spend money on development and supply chain logistics. TB, AIDS, diabetes, and malaria are deadly diseases and those patients will also benefit from free or cheaper drugs. Where do we draw the line?
That being said, we have to be compassionate and share scarce lifesaving resources for the benefit of those who cannot afford them. The problem is that the price mechanism is the most efficient allocator of resources.
I still would like to know whether profits earned on my SA Rands though purchase of electricity via Karpower would be taxed by SARS and that portion returned to the SA economy.
Or would all profits disappear offshore?
‘Natural diamonds will always have mystique’ sure, watch the movie Blood Diamonds. Irrespective, man made diamonds don’t have the flaws of natural diamonds. Diamond mining another dinosaur for the museum.
SARS is stable-ler (if there is such a word? The Hilux is tougher-er…) since the captured Tom Moyane left, and along with “protect me from yourself” IT head.
Can we now see a drop in Income Tax please Mr Kieswetter? For sure, HOW ELSE is economic activity going to be improved? (which is positive for revenue collection)
Lower tax = higher econ activity = more collections.
(…many of the emigrations the past 5+ years, a high tax in SA had a role to play. And now a large part of the tax base is eroded! Well done Zuma)!
The excuses of “OLD infrastructure”…..come on. Seriously, how incapable are the ANC’s cadres….still relying on equipment installed during Apartheid?
On the other hand, the fact that the ANC munis did little for new, improved infrastructure….it shows their confidence in the old regime’s work. It’s really a heartwarming COMPLIMENT to the minority in control during ‘aparthate’. I thank you!
“Something does not have to be backed by anything physical to have value.”
That just took care of about 90% of all crypto naysayers who squeal ‘but it isn’t backed by anything’ !!
“Every dollar is borrowed into existence.”
The biggest debt bubble in all of history.
About to implode.
They can’t even service the INTEREST on the USD debt, never mind the CAPITAL amount.
There’s even a doomsday $ clock counting down for you statist fanboys…..[ hint, look for usdebtclock on the internet ]
PS..ever heard of the Great Reset ?
They can’t reset something that’s new.
The only old thing is fiat.
Guess which one will get killed………
“there will be a mad scramble for currency to service debts and flight from crypto”
You don’t know your Arthur from your Martha.
The reality is it’s the other way round.
The Fed is currently in the biggest helicopter money printing orgy since Mugabe pushed the Zim$ into hyper inflation.
Biden and his unserviceable ‘stimulus cheques’ was the final nail in fiat’s coffin.
So, it’s not Bitcoin that’s in a bubble.
It’s fiat debt that is.
And those on top know it – hence the scramble to offload paper toilet money while they can, into assets like commodities/Bitcoin/precious metals etc.
And hence the boom in these assets !
Why do you think Bitcoin is surging so much – because of retail buyers like a few spotty teenagers who can only afford a fraction of a BTC ??
The massive price increase of BTC indicates mega financial institutional buying on a large scale to move the valuation needle so much !
If that isn’t the writing on the wall already, then best you stay in your fiat induced coma.
However, plenty who would rather go with one of the greatest technological achievements since the internet, blockchain, and that fantastic vehicle utilizing it’s highway called Bitcoin.
Always someone else’s fault. Mostly of the moneys are stolen or spent at inflated prices.
How not to run an airline, is a paragraph out of the chapter of How not to run a SOE, which is chapter out of How not to run an country.
The ANC have stolen the future of all South Africans through their corrupt actions.
Just another SOE ran into the ground by inept people appointed by Government !!!
The chaos and uncertainty at Mango reflect the chaos and uncertainty in Luthuli House, which in turn represents the chaos and uncertainty in the minds of the average ANC supporter.
When morally and intellectually bankrupt voters determine government policy, then it will result in the bankruptcy of the government. The bankrupt SOEs, rundown municipalities, failing government departments, and unaffordable Debt/GDP ratio plus the disastrous unemployment figures prove the shocking levels of ignorance and lack of cognitive ability of the average voter.
The government can devalue the currency to service the debt, but there is no cure for the stupidity of socialist voters. This implies that democracy will deliver an equilibrium between the purchasing power of the currency and the levels of education and mental capacity of the average voter. This process is ongoing in Zimbabwe, Venezuela, and South Africa.
Yep.interesting how these thieves never go to jail
I cannot believe we are still having this discussion. The ANC have raped this country and still have a problem admitting it. You could not make this up. Well you have been found out and the whole wold knows it.
Still no one in jail – unbelievable!
Porches , Ferrrairis, LVMH, Dior champagne, property, lifestyle…and the proletariat have nothing…how long?
Moneyweb, if you really want to change this country for the better you need to campaign against the causes of our destruction which is BEE, lack of land security and the ANC. Until these change, not only will Eskom continue to fail but so will the rest of the country.
Expecting ANC parliamentarians to hold the executive to account is like expecting the fox to guard the henhouse or any clichè of your choice. This is an organised criminal organisation with all its members sworn to allegiance to it and nothing else. It has a singular purpose: to loot as much as possible for as long as possible until Jesus comes back(to quote Zuma).
The truth is our Government can’t even run a farm with 3 chickens and a goat.
And we the taxpayer will fund this disaster without having a say. Flies in the face of corporate governance.
Isn’t it enough already? 25 years later … haven’t Mr Motsepe et al made enough money out of the failing economy?
anc Transformation almost complete.
Ask SAA they can show you how NOT to run an airline AND KEEP GETTING FUNDING
When your leaders put a communist intellectual dwarf in charge of your Department of Trade, Industry, and Competition, you can be assured that you will lose all trade, industries, and competition. Only the bankrupt central planning politicians will remain. The opposing criminal factions will provide the only competition as the economy regresses into an informal barter system without any industries or employment opportunities.
Let’s describe this department by what it actually delivers – the exporter of industrial capacity, competitiveness, employment opportunities, and social cohesion and the importer of the national debt, unemployment, and social unrest. This central planning intellectual dwarf creates industries and employment opportunities in the nations that compete with us. He creates a growing tax base for our competitors while he destroys ours.
Here we are dealing with a confused, mistaken, communist intellectual dwarf trying to boost trading, create industrial capacity, and increase competition in the economy, but delivering the opposite.
I’m sure the destitute starving homeless amongst us will be delighted at their government’s use of revenue in this instance. Viva.
SAA is ‘solvent and liquid’? It as miracle! Perhaps SAA should be renamed to ‘Lazarus Airways’?
Just love this!! So after Nico left the building about a year ago, the airline has been run into the ground..
Just a word of note: Mango’s fleet consist of old SAA planes. SAAT is responsible for servicing these planes and must have consignment stock, which is not the case.
Never fly Mango!!!!!
No doubt more brilliant people will leave and we all know why… but the ANC will continue to play the identity politics imported from the American progressives. Let’s hope that the average South African does not take up the mantle…
It was never about running an airline but all about self enrichment of ANC cadres, family and friends.
The ANC is “bribing the sheriff” to prevent him from attaching all the assets of the state in the current reality where all SOEs are hopelessly bankrupt. They have to keep on throwing money into this bottomless pit to prevent the triggering of cross-defaults that automatically result from the default of one SOE. If they allow one SOE to default on its debt, then all the SOEs will default at the same time. They are kicking the can down the road.
There is no leadership in Luthuli House. The factions are fighting to protect their opportunities to loot the assets of the nation. Some connected cadres plunder the taxpayer through state capture, while others plunder the taxpayer through BEE laws and the Mining Charter. They don’t have time to save the SOEs because they are too busy saving Luthuli House.
The clowns in Luthuli House still believe the fallacy that “the means of production” in the form of SOEs belong to the state, while in reality, all the assets under the control of the state already belong to the lenders. The lenders, who are capitalists per definition, will soon claim the “means of production” from the bankrupt communist looters.
I really dig these name changes, what a good thing to happen – better the raw sewerage flows down Nelson Mandela Avenue than Paul Kruger Street.