Explanations
have been offered for why some markets slumped almost 5% this week. The most
inventive reason is that the news from Brazil (a fellow-member of the cosy but
distinctly tainted BRICS club) about a crooked politician who had been found
stealing was particularly shocking for local investors. Well, what about the
realisation that our country is now being run by a foreign family? In the histories
yet to be written about our poor land, the chapters with the name Gupta in them
will amaze and fascinate readers. And in the USA opinionistas are eager to show
that the Trump phenomenon is losing its lustre. The alligators that infest the
swamp that he claims to be trying to drain are getting nasty and vengeful.
Over in Europe
accusations, outrage and stupidity vie to be named the most influencing event
of the instant. Nevertheless, sellers of many currencies and securities are accepting
lower prices than a few weeks ago, so something is changing. The more excitable
talking heads are even fretting about a proper bear market. It is always
possible. An inconvenient fact is that the commodity price recovery spotted a
few months ago is not gaining traction. Consumers aren’t inclined to consume.
For anyone
learning English, the press reports about the Brian Molefe affair are providing
a wonderful lesson in synonyms. Fired, retired, resigned, ……. Who knew that
there were so many ways to describe leaving a job? For a while “retrenched”
seemed to be the favourite term. But doesn’t that imply that the post itself
has been closed, in which case no one else, including the previous incumbent,
could go back to that position. Curious. And even more worrying than the
taxpayer’s farewell gift to Mr Molefe of R30m is the indication that suddenly
Eskom don’t have enough power for us all. Could this have something to do with
the poor-quality coal that became excellent-quality just as soon as it was
delivered by a different seller? Or perhaps it’s just common or garden cable
theft.
A similar
exasperating drama is playing out in parliament where a very revealing squabble
about whether MPs should or even could vote secretly for or against a motion
has inevitably found its way to a court. Anyone opposing a secret ballot is
obviously fearful that the majority vote will be against their own preference. Even
without the legal arguments about the fine detail on the House voting rules, one
is curious to know how secrecy can ever be assured when there is an electronic
voting button on each MP’s desk? Despite any assurances to the contrary, the
spooks who managed to jam cell phone signals in the Chamber will surely be able
to find out which button was pushed on which desk? But will Number One pay the
slightest attention to a vote of no confidence in him? Almost certainly not.
Meanwhile his ex-wife, helped by our very generous funding and a big boost from
JZ himself, has stepped up her campaign to become our next president. As well
as the usual hand-outs of T-shirts and food, reportedly her voter persuasion packs
include cell phone time. Very clever.
Also smart
are the fellows at Prasa – the passenger train services. They have discovered a
new multiplication method which reduces the product even if one of the factors
increases. They say that they can accede to worker’s demands for a pay hike and
still cut costs. Miraculous. The small print reveals that Prasa intend to
reduce the head count but even if that were possible the bonuses for the corner
office denizens will undoubtedly soak up any saving pretty quickly. Weren’t
these the guys who ordered trains larger than the tunnels?
The social
engineers who know what’s best for us always seem to forget that everyone loves
a winner. No one who has followed the Blitzbokke to their 2017 world
championship knows or cares if there are sufficient “community” players to meet
some unacceptable target. Just as long as the 7 best South Africans are on the field
handing it out to Fijians or English or whoever is all that matters to the rest
of us. Meanwhile SARU have been phoning around the world’s second tier
provincial tournaments and offering them our two slightly shop-soiled and
redundant franchises. It reminds me of stock fair day in Grahamstown when the
streets were full of livestock being herded to and from their destiny.
James
Greener
Friday 19th
May 2017 (Endangered Species Day)
