I have a weak heart to start with, but when I heard Enoch Godongwana, chairman of the ANC’s subcommittee on economic transformation, declaring that they "are yet to understand the full implications of junk status", I ended up with palpitations and a mild heart attack. If this guy, who is exposed to and has some knowledge of the financial markets locally and internationally, can make a profound statement like this, small wonder so many of the president’s praise singers came up with idiotic statements like "now we can celebrate that we are free from western interference" and "the rand can fall and we will pick it up" and "who really cares? Many South Africans don’t have millions in the stock exchange", or the statement by the scion of the president declaring, "I am going to celebrate this downgrading decision by opening a champagne." Small wonder we have been downgraded to junk when the president appointed all these economic illiterates to key positions running our country into the gr...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.