THE DOOM OGRE WRITES

Tidemarks spends little time analysing the local markets, an exercise that was once its bread and butter. One reason for this is that the JSE is now a very pale shadow of its former self. The number of significant counters worthy of possible investment shrinks every week. And with almost every company still deep in survival mode, their financials and reports are exceptionally hard to interpret. Comparisons with prior years are meaningless and solid dependable guidelines about the economic future are non-existent. Recoveries in the bond and currency markets are totally dependant on whether the government is capable of slashing its expenditure and borrowings. Something that may be impossible for the socialists seemingly intent of following the Venezuelan example. Unless or until the decision makers and leaders of our government and its institutions are required to endure the conditions that the rest of us do there is little chance that things can get any better. For example, a government increasingly desperate for income sees nothing wrong with the tax man’s help line telling us that we are 976th in a queue and the wait will be around half an hour. Our nation is awash with roosting chickens clucking their anger and disapproval of the government’s assumption that we are satisfied with the dismal and failing services coupled to rising prices. The Covid-19 excuse is no longer working. Even the President muttered about government employees not doing any work. You think Cyril? The long-promoted idea that all politicians must, upon election, convert their savings into government bonds, use only public transport, security, schooling and hospitals needs an extension to include anyone drawing a salary funded by taxpayers. Simply it would require that no one can be employed by the state until they have worked in the private sector for at least 5 years. Not only would this ensure that all civil servants were mature and experienced but hopefully by then they will be disabused of the idea that money grows on trees. 2020 has been a dreadful year for sports fans, school pupils, university students, hospital patients and most people trying to make a living from providing goods and services to customers and clients. Small islands of success and prosperity do exist, but a great proportion of those have relied on corruption to survive and flourish. In South Africa an unexpected bonanza has been enjoyed by luxury car dealers and suppliers of medical masks, gloves and gowns. Skimming relief food parcels apparently is also fruitful. In those state-owned enterprises which are expected to collect at least a portion of their own income, matters are parlous as their customers also are unable and reluctant to pay for the frequently poor service and products that they now deliver. State broadcaster SABC has hit upon a plan to beef up TV licence fee collections. They want to declare that any device capable of displaying a movie is close enough to being a TV, that the owners of smart phones, tablets, laptops etc must therefore buy a TV licence. Not only that, but the content providers, like Netflix, must collect the fee and pass it on to the SABC. Really? No. Voetsak. Closely allied to this sort of thinking is the official concern that certain sports events should be free to view and that commercial channels must drop their paywalls when broadcasting them. Well OK, but only if the broadcaster be allowed to deduct the cost of the broadcasting rights paid to the sport from their tax payments. After all, if the state wants everyone to see these events then the state must pay. And of course a bigger audience will attract a bigger fee for the rights. These Marxists so badly need to learn how markets work and that sadly life is not fair. Greta Thunberg, the shrill young activist against global warming, has been nick-named “The Doom Pixie” as she battles to regain the headlines so suddenly seized from her topic by the Virus. Conspiracy theorists note the similarities in the way that “the Science” for both phenomena are foisted upon us and mutter deeply. We are led to believe that only governments have the wisdom and wherewithal to understand and interpret such facts as there are. And now the Formula 1 champion, Lewis Hamilton is recording an album. Is he bored or does he not have enough money? James Greener Friday 23rd October 2020