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The economy was growing more than 5% in 2007. Business confidence was near its postdemocratic highs. The Business Day of May 18 2007 quoted the Bureau of Economic Research: “The economy will grow faster than anticipated in the short term, buoyed by resilient consumer demand, ‘fierce’ momentum in fixed investment and stronger export growth”.

Ah, those were the days. Talk to economics students now and it takes quite some effort to convince them that there was such a time. To their minds it has always been doom and gloom, an inexorable slide to economic oblivion. Last week’s shock stage 6 load-shedding will have many joining them. ..

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