LETTER: Easy money will ruin SA
Our leaders cannot make the hard decisions that will get us out of the badlands
There is an air of desperation around recent forays by some leading ANC members into the badlands of monetary profligacy.
SA undoubtedly faces grave economic dangers. However, surmounting them requires making policy changes that are hard: cutting public spending, liberalising labour laws, protecting private property with iron-clad guarantees, tackling the education crisis and getting tax-guzzling state-owned enterprises off the state’s balance sheet.
It is obvious that no-one in the government can face harsh reality. Instead, our leaders either try to divert our attention or claim we can print our way out of trouble. But it will not work.
Easy money may cover up our fundamental flaws for a while, but in reality it exacerbates them. We cannot run away from our challenges forever.