The markets that Tidemarks follow are pretty erratic at present. Despite the strident claims that we are racing back to normality with every passing day, there is scant likelihood of any consistent corporate profitability emerging in the next year or so. Here on the southern tip we need also add in the chronic insolvency of the government. While political leaders everywhere insist that they will do all they can to protect the lives of their citizens from the virus, in truth they are also baffled by the statistics and advice proffered by just about everyone. Their sole tool is isolation and some regimes are back tracking into lockdowns again as they convince themselves of “second waves”. No end to the power of this pandemic to cause alarm and despondency is yet in sight.
Those of us who have the time and lack of self-respect to expose our intellect to the internet’s ceaseless flow of hysteria about every topic under the sun and more besides, quickly becomes junkies. The opiate of the moment is the imminent USA presidential election. Keyboards are afire with opinions on the utter mess over what we know as postal votes. Both sides are convinced the system is good/ bad for their candidate because of the well-known shortcomings of the system which allows for several points of manipulation. Envelopes have been opened prematurely, ballots have been found in a ditch and one bright spark wants to count them long after election day itself. Everyone accuses anyone of malfeasance and corruption and gross disrespect for democracy, electoral process, voters, and now, a recently deceased Supreme Court Judge. So excitable have the left-wing become, that luminaries on that side are publicly instructing their candidate (Joe Biden) never to concede defeat at any stage. That suggests that they are confident that they will unearth reasons after the election to reverse the outcome should it not suit their side.
It is easy when browsing these rants, to drift over to reading about the local scene without realising it. The South African versions are quite a bit more colourful though. Our Minster of Finance, charged with getting the nation out of the deepest debt hole in its history, prefers to post recipes on his pages. A Port Elizabeth city councillor is now in jail for smashing a full glass water jug on the head of an opposition member. And now in the time of the highest unemployment ever and an eviscerated economy, workers are being urged to strike for better working conditions and wages.
It’s not certain how SARS managed to leak a letter they recently wrote to a Gupta-controlled company named Linkway. The letter points out that the company has overlooked more than R100m in tax liabilities and asks if they would be so good as to pop round for a chat. Assuming there was anyone at the Gazelle Avenue address in Midrand to receive the letter, they must surely have swiftly forwarded it to Dubai where the Gupta brothers must still be doubled up with laughter and wiping tears of mirth from their eyes. Whatever happened to that extradition treaty between SA and the UAE? Is it still unsigned? Something to do with not having the correct colour of ink?
Professional rugby is going to resume in South Africa this weekend. We ought to be keen to see what remains of the squad that hoisted the World Cup last year, and the form of the economic refugees who have been in search of income in the northern hemisphere since then. For me, the great disappointment is the news that kick-off in this weekend’s games will be preceded by that dreadful virtue signalling charade of going down on one knee. This symbolic action was recently assumed as a totem by a rather nasty, extreme left wing near terrorist group in the USA to signify support for the allegedly persecuted black population of that country. Its transference to SA is breathtakingly inappropriate for a majority government and quite foolish for a country where barriers to sporting success are only talent and personal effort. The captain of the Springbok rugby team that did the hoisting mentioned above is a black man. There is no higher sports appointment or honour in South Africa. This deserves a #VoetsakFriday to all the sports officials who have clambered aboard the BLM train.
James Greener
Friday September 25th, 2020
