Browsing All posts tagged under »debt«

Chinese loans: let’s have the facts

August 4, 2018

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There have been ecstatic announcements from the SA government about money apparently pouring in from China. But these are loans, denominated in US dollars. They have to be paid back, with interest, so why is the government not making clear what the terms are. And that might include what collateral has been offered.

Spin, myths and The Market

December 19, 2015

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The economic crunch experienced in South Africa last week provided a clear insight into the workings of the system and the limits, within a parliamentary democracy, of “people’s power”.

2015 & more Greek turmoil looms

December 31, 2014

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Europe is on tenterhooks as the new year dawns. All because of a vote in the Greek parliament on Monday that failed to elect centre-right presidential candidate, Stavros Dimos as president. And the turmoil that may result could have widespread repercussions.

The most exploited — and largely ignored — workers

July 29, 2011

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Fancy being able to walk to work and to pay just 10% of your wages for accommodation? Sounds idyllic? Perhaps. Unless you are a farm worker in South Africa where the latest pay increase of 4.5% made the minimum wage just R1,375 a month and where between R400 and R700 could be charged for electricity alone.

Voodoo economics, journalism & human rights

January 7, 2011

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It is time we all stopped bowing down at the altar of voodoo economics and acknowledged that our world is in crisis. And that this crisis is a consequence of adherence to an almost religious belief that “the market” is some sort of sane and sensible mechanism; that the mystical “invisible hand” mentioned by Adam Smith is a reality.

Voodoo economics, journalism & human rights

January 1, 2011

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(First published:  February, 2006) It is time we all stopped bowing down at the altar of voodoo economics and acknowledged that our world is in crisis.  And that this crisis — not of shortages, but of gluts — is a consequence of adherence to an almost religious belief that “the market” is some sort of […]

’tis the season to…..?

December 10, 2010

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It is surely time for serious reflection when the lunatic logic of the present system encourages us to spend — all too often on credit — to provide a boost to ailing economies when all this will do is provide a boost to banks and to the profits of importers, producer companies, wholesalers and retailers while the jobs slaughter continues.