MONKEYS RULE THE WORLD.
So the biggies voted against the $700bn rescue plan that was proposed. Wow – see the dyke fall. - MORE ON TIMES ONLINE
Then some stupid minister apealed against the liberalisation of the communications space in SA. I tell you – I just see SA turning into a dictatorship state – things are truly scary. - MORE ON SUMMIT TV
The markets were all in a frenzy when it was announced that Trevor Manuel had tendered his resignation – the South African Finance Minister, was among 14 other ministers in Thabo Mbeki’s cabinet that have tendered their resignation. The Rand tumbled along with the JSE All Share. Things stabalised however, when Manuel said that he would be willing to serve under a new cabinet.
(New York, New York Tune) Start spreading the news, he’s leaving today – he’ll make a brand new start of it in Goodness know’s where… South African President Thabo Mbeki stepped down yesterday. The ruling ANC’s National Executive commitee called for an ouster- it truly astounds me how Zuma who has had so many vile allegations against him has been promoted to ANC presidency. Then Mbeki is slightly smeared by the suggestion from Judge Nicholson that he might have been party to resurrecting criminal charges against Zuma and that it is all a political ploy - and the party asks the man to stand down. Look the man isn’t perfect but… let’s look at the calibre of people who were present yesterday when Mbeki was resigning and look at the calibre of people who support Zuma and the words that come out of their mouths… Uncultured, disrespectful, ungentlemanly – you name it. This might seems small but hey, manners maketh a man, and if you dont’ have them, well, you’re anything but one – even a dog knows when to say when. So there’s rumours about creating a strong force against the ANC upon the upcoming elections. I’m for it! Business Day has more on what this new political party should be like, and how the status quo is not catering to politics of the future. Have a read, very interesting.
MBEKI’s RESIGNATION SPEECH -Business Day
JUDGE NICHOLSON SURPRISED BY FAR REACHING CONSEQUENCES OF HIS JUDGEMENT-IOL
MADIBA’s PROPHESY -IOL
While the US property market is looking quite dismal - there is the South African housing market which is also experiencing a downward spiral – in this country however, buying property wouldn’t be so bad as the experts say it’s not a recession but rather a normalization of house prices. MONEYWEEK states that even though most experts are saying stay clear of the property market, it would be a big mistake to do so. So here is their take on the subject
So how bad is the US housing crash? Well the answer is really bad. Even with the tumbling housing prices it’s still a bad time to buy because you make losses almost immediately. In fact it is way cheaper to rent than it is to buy. This is predicted to last for the next several years. And with this week’s worsening news about the markets don’t expect any rosy outlook just yet. Patrick.net has more
… And the feeling is that the end is not in sight and people are scurrying around like discovered mice. Funny Money is the culprit as credit and bad debts plunge major institutions into the black hole. Yahoo! has more
The IEC is considering early elections due to the possible axing of President Thabo Mbeki this weekend. The IEC feels that it cannot ignore the political climate any longer and will have to, for the first time consider early elections. IOL has more
All I can say is Behold the band of Gadianton…
A small group of the world’s population will know what this means… Of course this satetemant does not only apply to SA but the world over is filled with it.
So we’
ve heard the news that things are spiralling down and spiraling fast for the world markets – it’s suggested that a commodity slump is soon to hit SA. All the world is in a jitter. Barak Obama even said that this crash could be akin to that of the 1930s. Now that’s hectic, I don’t want to be telling my kids of the “second great depression”. But alas it is the last days. Monday the 15th of September has been termed “Black Monday for Banks” starting with Lehman Brothers filing for bankrupcy when the Fed refused to bail them out. And just two days later it bails AIG out in fear of making things deader, if there’s such a notion – ok there isn’t but anyway - Pretty hectic huh? So now is the time to start gathering all those canned foods for when disaster strikes, so people don’t start eating their children. Sorry, grim pic… my jokes are usually not all that humourous. Damn I’ve been gone a long time! Will try to write more oft. While most may be in a jitter, and others have lost their jobs, Paul Theron from Vestact gives us the low down of what actually happened – calling the markets a fine balance between greed and fear. Uh, ok schweet, and this is what we base our livelihood and economies on… Ah, well, what man doth create can never be trusted!
READ -Paul Theron’s detailed explanation
WATCH – Paul Theron’s detailed explanation
