Today he’s on the front line waging a war against the globalists and making inroads into stopping imperialism on its tracks
South Africans must learn from what happened in Russia and Brazil. Russia is anti-West and has recently been downgraded to junk as well. Brazil has seen its left-leaning democratically elected president ousted after the country’s downgrading only for parliament to be replaced with an all White cabinet and austerity measures put in place thereby cutting public spending for the next 20 years in the name of fiscal discipline. This is economic warfare waged against all BRICS countries.
Let us not allow our hate for Zuma nor the ANC blind us. The ANC is a divided house thus fictionalized between socialists and neoliberals. The past legislative reforms by Mbeki’s administration that led to the privatization of state owned entities (SOE) are being reversed under Zuma and SOE are being put back into State hands. It’s called the Weaponization of the Economy where hybrid business is used to take over strategic industries into State ownership. It has all the hallmarks of corruption and entrepreneurship. It is not black and white per se, but about the means to an end using capitalists tools to advance socialism in the long term. Call it nationalization in stealth!
This has the advantage of not violating international trade treaties without being accused of nationalization which can lead to a country being isolated by the international investment community. A downgrade is a lesser evil.
This is the lesson learnt from Russia with Putin at the helm. Like Jacob Zuma his person was attacked and disparaging remarks were made about the man with all accusations of cronyism and corruption allegations leveled against him. He remained determined and resolute. Today he’s on the front line waging a war against the globalists and making inroads into stopping imperialism on its tracks. Media report informed us yesterday that he even registered Russia’s first rating agency and S&P has been sent packing out of Russia. He did it and so Zuma can do it.
Instead of balking under corrupt rating agencies’ pressure, we must chart a way forward for our people. I suggest we then advocate for land tax to be levied by the State against those in possession of illegally acquired land.
This is progressive tax that will surely be an alternative source of revenue to contribute to the fiscus which shall then be invested in infrastructure development thereby creating jobs for our people. Our people “may” suffer in the short term but stand to come out greater persons in the long term.
By the way, the Rand has even came out steady despite resorts of a downgrade. This partly owes to the fact that only 10% of our sovereign debt is denominated in US dollars thus limiting our exposure.
Furthermore, the new Finance Minister (FM) is in support of radical economic transformation, unlike the former (FM) who sought to maintain the status quo of an inclusive economy with the indigenous masses relegated to the economic back burner.
With the incumbent FM at the helm of Treasury, stringent capital controls shall be effected to curb illicit capital outflows thereby help strengthening the Rand. His deputy will also help in protecting PIC from financial miscreants by ensuring that pensions of South African serve to invest in local infrastructure development and put an end to an investment strike that the PIC through its investment partners such as FutureGrowth have subjected the masses to in cases like ESKOM’s load shedding.
It’s all smoke and mirrors and media will make you believe the people want a regime change. Fact of the matter is it is only through the ballot that the will of the people can be measured with some governed measure of accuracy. Let us not allow ourselves to be pawn in this game that has proven to be fixed against us Africans. (APC)