Tag Archives: financial crises

South Africa is an upper-middle-income country

South Africa is an upper-middle-income country. Despite this relative wealth, the experience of the majority of South African households is either one of outright poverty, or of continued vulnerability to becoming poor. The distribution of income and wealth in South Africa may be the most unequal in the world.

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Is my money safe in a South African Bank?

It feels so far-fetched to imagine working so very hard to put savings away in prudence – only to go to your Bank to find out that they have gone bust or that a minimum withdrawal is allowed. One should not imagine too long, for such scenarios have happened before and I believe will have again. I believe that most people will remember one of South African’s largest unsecured lender, African Bank which collapsed in 2014 or of recent when the people of Greece was only allowed to withdraw sixty Euros a day.

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What you will NOT hear at the “State of the Nation” Speech

We are thinking that foreigners will save our economy – not true! They will exploit our lands and take our bounty… When would our Bantu people learn that they are short changing the sons and daughters of this land… Wise up! For this is the “State of the Nation”, and Zuma with all his gang from all parties today will give you a good show and trade you shiny objects in exchange of your land and soul – just like the Dutch had done when Jan Van Riebeck and his Investors came.

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Greece left in Ruins 

  Greece faces a debt default within 48 hours after the government made clear it will not repay a €1.5bn loan to the IMF that expires tomorow. After talks on a €12bn bail-out deal collapsed, Greece is holding a national referendum on Sunday on whether to accept the conditions for further bail-outs. However, the country is so cash-strapped that it doesn’t

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