EDITORIAL: It’s the people, or Zumarism
Jacob Zuma has been a disastrous and calamitous runaway train on a demolition derby
And so the endgame begins. As expected, President Jacob Zuma has taken the propitious step of reshuffling his cabinet, ousting trusted Finance Minister Pravin Gordhan, and thereby demonstrating a shameful disregard for the commonplace notion that government should treat the capital of its taxpayers with respect. There has been lots of vague speculation over why it would be necessary to dismiss a loyal and respected finance minister, laced with hints and suggestions, so let’s be clear on this topic: the president is dismissing Gordhan because he wants more control over the fiscus and Gordhan stands in his way. For the state of government finances, he has been equally a calamity. His own personal gluttony has been reflected in a fiscal position that has slid from serious to parlous. Over his term, state debt has doubled; government has borrowed more than a trillion rand; the level of business confidence is miserable and consequently, the economy has slouched into a gravelly state of b...
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