PETER BRUCE: As rubber hits the road, don’t get swept up in GNU-phoria
For all the noise you’d think we had made an almost mystical crossing since the elections four months ago
Is SA going through one of its periodic moments of good cheer and rapture, soon to be punctured, or are we at the edge of a bright new age with real and sustained growth and wealth creation in prospect?
For all the action and noise you’d think we had made an almost mystical crossing since the elections on May 29, four months ago. The ANC loses outright control of the country and forms a government of national unity, with the DA its biggest partner. Suddenly the wildly undervalued local stock market starts to fly again. The US cuts interest rates and the rand goes through the roof against the dollar. Our debt becomes cheaper to repay. Eskom hasn’t been down since March 26. ..
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