So Governor Mboweni feels that “SA labour laws are good”. How on earth can they be considered good when so many people in this country are without jobs? Only when pretty much anyone who needs paid work can find it, may any government congratulate itself on getting things right. Ironically it is probably only when bureaucrats and their interfering laws are largely absent from the process, that full employment becomes possible.
To the extent that any economic data is reliable or accurate it does appear as if the things are not deteriorating quite as fast as previously. However, I was worried by the announcement that ABSA are prepared to grant mortgages to the value of 110% of the house to be bought. Furthermore these products will be available only to those earning below a certain quite modest amount. Now isn’t this almost exactly way that banks in the US and UK triggered the whole credit crunch in 2008 with so-called sub-prime mortgages? After congratulating ourselves on more or less avoiding this problem in SA, are we now about to play catch up?
The strike by the minions at SARS added a quite unnecessary extra twist to the irritation I experience each year when gathering the numbers required for completing the tax return. Someone, however, is still working at Revenue House as I have received SMS messages reminding me of the exquisite torture that awaits me should my form not be on time. The brouhaha about supplying suitable cars for the three dozen ministers also has come at an inopportune moment for us taxpayers. Not only do I see my money going to provide high-end in-car entertainment systems for people who should be taking a moment in the quiet between meetings to catch up on paperwork. It now emerges that a bling set of wheels is particularly necessary for visiting the comrade voters to deliver the services they were promised. Anything below the super luxury standard and the citizens will not take you seriously.
The news that Winston the pigeon was able to transport a data chip across the kingdom faster than the Telkom network could transmit the same information has generated plenty of comment not least from Telkom who thought the stunt was a cheap shot. Well of course it was but it was still very funny. But what caught my eye though was the fact that there is a company that collects so many gigabytes of data every day from recording phone calls. Presumably there are many other similar organisations also collecting this sort of data. And presumably further, there is a demand for it. If Winston had been nailed by a Peregrine Falcon who knows who might have got their hands on all that information. Why does the phrase Identity Theft keep popping up in my mind?
The dollar gold price tried on four figures this week after a long break and is looking quite natty and comfortable. Isn’t it a pity that the fellows at Eskom don’t have similar standards of fineness and quality for the coal they buy for their power stations? Some of that organisation’s huge loss was caused by paying for “mud and rocks” which was delivered instead of coal. The most of the rest arose by getting on the wrong side of a derivative trade. Now where have we heard that before? If by some slender chance the trade had worked out in Eskom’s favour, would we have avoided the 30% plus electricity price increase?
At least two cultural dancing events are scheduled to be held this weekend. Both are intended catch the attention of non-dancers and both involve near naked people. Up the road it will be the Reed Dance featuring hundreds of young maidens selected for their beauty, modesty and purity. In New Zealand, 15 burly lads of somewhat less unsullied reputation will perform the Haka in an attempt to shock the ‘bok coach out of his boredom. If the ‘bokke win properly you can be sure that even more dancing will break out here on the southern tip. Probably without reeds though.
James Greener
11th September 2009.
