Well, here we are: From the makers of the one hit wonder 'Firepool' and the cult series 'Broken PowerStation' comes the latest production: 'New Dawn'.
This week in 'Days of our New Dawn' the Rand lost some value. Some people say the reason for this is Loot Freely House (LFH) resolved to Nationalise the Reserve Bank. Other people say it actually lost value because Mr Draghi, the Boss of the European Central Bank announced a new TLTRO. That's an acronym for the ECB giving banks free money to buy European Governments debt. Bill Blain, a Strategist for Investment Firm, Shard Capital described it as 'the most functional and successful Ponzi Scheme of all time'. It keeps the Zombie European Banks secure and sustains the issuance of European Sovereign Debt. It also keeps the French people in yellow vests every Saturday because the only part of trickle-down economics they seem to receive from the arrangement is Inflation.
Perhaps now that LFH has run out of money to steal, Nationalising the Reserve Bank will allow them to come up with an acronym that allows the Reserve Bank to give free money to Banks to buy the debt of Eskom, SAA, SABC, PetroSA, Denel, the Post Office, and Prasa. They are all Nationalised and in desperate need of someone to buy their Bonds. It will probably work for a while. A thin veneer of faux progress to disguise the politics of decline and collapse until it stops working.
Speaking of Eskom, this week in Days of our New Dawn, Nersa decided over 300% increases in electricity tariffs wasn't enough and gave Eskom the right to open your wallet and take some more of your hard earned cash. This, of course, has the consequence of pushing up overall inflation. In other words, everything you need to live in the New Dawn will cost more! Eskom was also the recipient of a judgment in court that stops them from cutting off electricity to punish 'financially delinquent' Municipalities like Emalahleni.
Basically, that means 'financially delinquent' Eskom cannot punish the people and businesses that live in 'financially delinquent' municipal areas by cutting electricity. Probably another reason for a free money acronym and trickle down inflation for us if you ask me. While we are on the subject of 'financially delinquent' Emalahleni, I'm wondering when the Zondo commission will get all the way down to local level governments capture. And just how many days the inquiry will require to hear about brown envelopes being passed around.
Also making the news this week was the PIC. They are now bailing out failed private business. Edgars got a bailout. These guys seem to make really sound investments with other peoples money.
It depends of course on what the mandate is. I think their mandate is to invest in share prices doing swan dives. Remember Steinhoff? A magnificent swan-dive. Not to be outdone we had Tongaat on the diving board on Friday. Their share price has managed to swan dive all the way back to the value it held in 2003. I haven't even mentioned EOH, And let us not forget Aspen. Swan diving. But to be fair. It's actually the government Employers Pension Fund that holds 12% of the shares in Aspen. How is your pension doing, comrade? It's winning at Swan Diving.
Also in the news this week, the IRR released its latest poll on the upcoming elections. LFH, despite putting a new face on the election posters, is slipping. But not yet below 50% which would actually allow some sort of accountability. Some analysts writing in the media are out to fool voters. They say you must vote for the new face on LFH's posters in order for him to make the necessary changes. Let me make something a little clearer for you. This election is not an internal LFH election. Whether you vote or don't for the new face, the results from the 54th LFH National Elective Conference will still be the same. The resolutions adopted at that conference will still be the same.
The members of the NEC will still be the same. Your vote doesn't make a single difference to those outcomes. Other options include the EFF. This week they found another 'bloody agent' and let loose 2.3 million Twitter 'dogs of war' on a female journalist. And the DA?, this week they sent out letters revaluing everyone's houses in Capetown. This will legally allow them to fumble around for whatever is left in your wallet. No wonder the Cape Party is going to gain votes.
The DA's 'minister of YouTube' Ronaldo Gouws interviewed the Cape Party's Jack Miller on the 3rd of March. The comments were clearly in favour of the Cape Party over the DA. It might just be time to brush up your history. Did you know Simon van der Stel, Governor of the Cape was 'coloured'? Does the EFF know that the Union of South Africa is a colonial construct? We all know they hate everything colonial.
Be sure to pop back next week for another episode of 'Days of our New Dawn'. That is if it gets published! In the meantime, you might want to get yourself a yellow vest. Trickle down inflation is here to stay for the very foreseeable future.