Trading Tito for Gill

President Zuma’s announcement yesterday (Sunday) that Gill Marcus will replace Tito Mboweni as Governor of the SARB in November is likely to feed anxieties about policy continuity – despite reassurance that policy at the SARB will not change under Marcus. The issue is not that Marcus is less competent or more likely to side with organised labour’s attacksContinue reading “Trading Tito for Gill”

The Price of One Man’s Life and Death?

Nelson Mandela’s 91st birthday Symbolic events usually have more than one meaning.  For those who comment on South African financial markets, Nelson Mandela’s 91st birthday (today) is probably “investment neutral”. However, financial markets do not list the price of everything. Born in Mvezo on the banks of the Mbashe near Qunu in the rural Transkei Nelson MandelaContinue reading “The Price of One Man’s Life and Death?”

Architects of Poverty – Book Review

Architects of Poverty Architects of Poverty by Moeletsi Mbeki (Picador Africa – Pan Macmillan 2009) R152 at Exclusive Books in the V&A Waterfront …it was the Africans who caught the people in the interior and sold them to the owners of the ships that transported them to the Americas to be sold into slavery. SoContinue reading “Architects of Poverty – Book Review”

Excerpt from Architects of Poverty

Architects of Poverty by Moeletsi Mbeki (Picador Africa – Pan Macmillan 2009) R152 at Exclusive Books in the V&A Waterfront – if you can find it where they are hiding all their copies under a table right at the back … conspiring with the evil Minerals-Energy Complex (MEC), no doubt. First things: Time and tideContinue reading “Excerpt from Architects of Poverty”

Vampire Capitalism

We  are not there yet. There is still a way to go. But the dark territory is along here somewhere. The signposts loom more frequently out of the night and you can feel the icy chill. If I was the director of this movie I would have the little children huddle closer and the music would be so low and scaryContinue reading “Vampire Capitalism”

Soccer and Investment Risk

Hmmm – I know, it seems a bit of a stretch. Soccer and investment risk? Unlikely. Must be a soccer obsessed blogger looking for an excuse to write about last night’s game. Well, this “political risk and financial market” blogger is not soccer obsessed, but after last night’s game his soccer appreciation senses are …. aroused? HeContinue reading “Soccer and Investment Risk”

Inflation targeting – the lovely discourse

You might not be aware of it, but there is “a lovely discourse” about inflation targeting going on. These were the gentle, if slightly quaint, words of Pravin Gordhan as part of an expression of  support for SARB governor Tito Mboweni yesterday (June 23). This comes after months of Cosatu’s blustering against inflation targeting: threatening to callContinue reading “Inflation targeting – the lovely discourse”

South African men and rape

This week’s set of findings from a controlled study conducted by the Gender and Health Research Unit of the Medical Research Council are so shocking as to be almost impossible to take from the the page into your brain. Instead of  me droning on about it, let the text speak for itself. Remember it’s a controlledContinue reading “South African men and rape”

Cosatu – the dog that caught the car?

Remember dogs running after cars, their nails screeching across the asphalt and all that desperate barking? And remember the old chestnut: what would the dog do if it ever actually caught the car? Well, then think of Cosatu. There is something about the way Zwelinzima Vavi and his colleagues are behaving in relation to the ANC and governmentContinue reading “Cosatu – the dog that caught the car?”

The Zuma Cabinet – Upside Surprise

First published May 14 2009 Jacob Zuma’s cabinet was announced in mid-May. This report looks at each minister and deputy minister and gives a brief  introduction to each one. Summary conclusions  This cabinet is shaped by the competing objectives of improving performance/delivery and the political requirement to satisfy both the SACP/Cosatu constituency who backed Zuma’sContinue reading “The Zuma Cabinet – Upside Surprise”