LOL so our government wants to provide free national health care, but it's only going to cost us 6.5% increase on VAT for all goods and services or a 31% increase in current income tax, no biggie, its free and its for the greater good
Discussion
Hope they're just going to dangle this over voters like they did with EWC, and after elections abandon it. It's not sustainable, and a very obvious grift.
I am divided on it, part of me hopes its just a grift and they will make up some excuse, focusing on Eskom and other much needed infrastructure could be the cop out but then the Bitcoiner in me is like go ahead blow up the deficient, keep financing another unsustainable project with money printing, just another death blow to the Rand
I don't wish death on the Rand, but their current path makes it likely, especially now talking about making use of gold and foreign exchange reserves. That was one of the early signs in Sri Lanka.
https://www.noahpinion.blog/p/why-sri-lanka-is-having-an-economic
They need to get serious about these "welfare SOE's", the public wage bill, and obviously corruption. Last year we ran a R350b+ deficit. That's almost a full Eskom debt, annually.
In the meantime, we should focus on putting down Bitcoin-based solutions. If the Rand's collapse is inevitable, so is Bitcoin adoption, so there is an opportunity there.
I get you, its totally rational what you're saying, I'm just already so black pilled man, watching the rand run from 7-20 and trying to stay above water, running a business, dealing with load shedding, its like we delay the inevitable, which I suppose is the better way to go than a hard transition, giving some people time to get out of rands.
Maybe we do take corrective measures here and there but it will always be on the margins, nothing can stop the debasement, I always come back to charts like this and it blows my mind, M2 just keeps doubling over shorter and shorter periods
We always talk about Zim as the example of the final failure, as if its so far away but each year we creep closer. If it wasn't for all the value citizens generate here, we'd be further along, but the tax-paying public have taken it on the chin, I know this country has loads of resilient people, but damn they deserve more for what they are putting in every day
We can put the message out there, but ultimately everyone has to choose, and I think fiat is a tough drug to kick, took me years to get to this point, the journey of unlearning money and re-learning is a brain buster lol
Do people use silver and/or gold to protect their wealth in SA?