South Africa gets $750 MILLION World Bank LOAN, Good Idea?
Вставка
- Опубліковано 13 лип 2024
- #SomethingNicewithDinano #Economics #AfricanEconomy #SouthAfricanEconomy #CovidRelief #WorldBankLoan #Politics #PublicFinance #Finance
South Africa has taken yet another loan, this time from the World Bank totalling $750 MILLION (R11 BILLION). Can the country afford this debt? Public Finance Activist and Artist, Buddy Wells shares his thoughts on the matter, delving deep into the world of economics and global finance players which are sucking Africa dry.
He brings his argument forth and challenges us to think differently about how African governments should approach their budgeting and public finance spending.
Wells or Bud, has been writing about South African economic issues for a number of years and is running a blog that brings an alternative view on business and how public money should be spent.
============================
Visit Buddy Wells blog: buddywells.wordpress.com/
The fundamental South African economic problem is the fact that the ANC government is captured by the financial sector, hence the rapid financialisation of our economy in the last 30 years that has led to huge levels of inequalitiea and a huge unproductive financial sector that sucks a lion's share of all the money/credit created. Money/credit creation should be geared towards making productive sectors of our economy more productive, and by being more productive, they create more employment.
Thanks for watching Viwe...you and Buddy seem to share the same sentiments on the matter...
Policies/ideologies/philosophies of control imposed on emerging economies to keep them on a slow growth path thus keeping them super depend on the developed nations, financial investor from these foreign countries are always winning. The more you think about it the less the government makes sense.
Artists poets musos painters dancers and all that jazz will lead the world oneday
The loan is a bad idea