THE INSIDER: Cast no bread on moody waters
Mother of Rain Mokonyane mistakes ‘Moody group’ for perpetrating SA’s credit downgrade
Water and Sanitation Minister Nomvula Mokonyane (her first name means Mother of Rain) must have had water on the brain – it can cause double vision – when she addressed an ANC Youth League rally in Germiston on Tuesday. Sounding ill-tempered, Mokonyane took a swipe at SA’s credit downgrading when she referred contemptuously to "this Moody group", presumably meaning ratings agency Moody’s. Well, it is S&P that has downgraded SA, not the "Moody group", but she might take Finance Minister Malusi Gigaba at his word when, also in an aquatic mood, he said, "What is water under the bridge is water under the bridge." The Mother of Rain is a dedicated praise singer of President Jacob Zuma, the Father of Reigns for now, and, while not everybody accepts a ratings agency downgrade as the mother of all bad news, what S&P makes of SA’s credit status is more than just water under the bridge. It could mean that some in the mean fat-cat capitalist world think SA’s economy has gone the way of The Ins...
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