Now that the Malamulele mass protest has been suspended for 5days from now, pending the respond from the MDB n Cabinet. All fighters who were arrested will be released soon! Let us turn our focus on issues of the economy: the sad reality is that the rand continue to weaken day by day, now its at 1 US dollar = 10.29(R) this is for the first time in the history of this country for the rand to hit this low. What does this mean or how does this affect ordinary people like me and you on the ground? First: the reactionary South African Reserve Bank(SARB) that continues to be dominated by private shareholders(by the way this is the only one,if not part of the few Reserve Bank in the world that is not owned by the state) will increase the repo rate(the rate that the RB land to commercial banks) in line with they reactionary inflation targeting of 3 to 6. Even the capital country of capitalism and imperialism USA they RB is owned by the state. How does the high repo rate and high interests rate affect ordinary people like me and you? : pertol price will increase, now the PP is sitting at 14:00(R) p/L (this is for the first time in the history of the country). Its expected that the PP will hit 15:00(R) p/L before the end of the year When PP increases food prices will also follow, the taxi Association will also increase they prices(if they have not). General the standard of living will increase in South Africa. What does this mean in practical terms?: For an example in the South African case, we lost over 1.1 million jobs between 2009-2010 which amounts to an average of R35 billion worth of employees incomes being lost. This has plunged 5.5 million South Africans into poverty. As a result of this perpetual job losses our country continues to be confronted with high levels of poverty and when we demand the creation of decent jobs as a sustainable way of addressing poverty we get blackmailed that we should prioritise those who are unemployed. We are told that South Africa needs Jobs! Jobs! Jobs! And yet we know that our country needs Decent Jobs! Decent Jobs! Decent Jobs! We are also told that, if workers maintain their high wage demands, firms will be forced to layoff large numbers as profits are squeezed. If workers agree to lower their wage demands or even freeze wage increases, few workers will be laid off. Yet we know that for thousands of our people in spite of being employed they still remain poor. They continue to sustain working by walking to work, using wood for cooking and electricity for lighting, staying in a shack, collecting water from the nearest school, whilst the rate of exploitation and poverty steadily increase. It is when these things happen that we realised that clearly the class battle lines have been drawn. The battle is no longer hidden it is now open and it is about the choice between reform or revolution; it is about giving capitalism a human face or destroying it and replacing it with Socialism! In this context all progressive forces in SA must seriously consider a call made by the late President of Venezuela comrade Hugo Chavez for the 1st Socialist international in the 21st century. We all have a responsibility of ensuring that we move faster to find solutions to the problems engulfing our country because it is under conditions of abject poverty, unemployment and inequality which breeds open confrontation between the people and those holding political power. Hlamy Mnengwani successful passed Economic 1A n 1B, Financial Accounting 1A,2A n 3A with Distinction at Tshwane University of Technology.
Posted on: Wed, 04 Sep 2013 06:02:01 +0000
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