My biggest problem with the situation in the country at the moment is the complete lack of accountability, and our government's complete inability to take responsibility. Every action taken now places our ever more fragile economy under more pressure, affecting the majority of the population's basic ability to live.
Economic conditions will get tougher before they get better and further tightening of belts is needed, SA Reserve Bank Governor Tito Mboweni told Parliament on Wednesday.
"After we take out food and energy [of the inflation equation], inflation is trending higher, we have to tighten our belts," he told Parliament's finance committee.
Foreigners had withdrawn R35-billion worth of investments from SA between January and March 11 this year, he said, an indication of the "nervousness" in the global financial system.
Mboweni could not say if this was in any way due to the electricity crisis.
"Globally, people are depressed." (IOL: SA to feel effects of 'depressed' market)
Between Jacob Zuma (aka Motormouth), Alec Irwin (aka Big Ears) and now, Tito Mboweni (aka Noddy), it is hard to gauge where those in power actually see us. Motormouth makes promises left, right and to every other side that cares to give him an audience. Alec Irwin will defend Eskom to the death, it seems, allowing them to hold this country hostage, and now, Tito will not admit that the energy crisis has anything to do with such massive de-investments in the country. I am still convinced that somewhere along the line, Alec and company are benefiting from the power crisis financially. I guess it the only way I can believe those in power could do this to their own people and still sleep at night.
This, however, is probably the most disturbing piece of news reported on this morning (news is such a strong word for it, since we have all just about known it for months):
A group of forensic accountants in Forensies.com have analysed what Eskom says in its annual reports about the utility's management bonuses, and have concluded that the supply of electricity is not one of the so-called "gate-keepers" that would prevent the bonuses being paid out.
Their report says that the bonus system could be the main contributing factor to the electricity crisis. (source)
That, and possibly gross mismanagement and continuous misappropriation of funds for years. Yep, that about would do it. And, unfortunately, this is not isolated.
Were the government, and more specifically the ANC, to behave responsibly in the current crisis (every one of them) by axing those who are responsible, rather than trying to cover it up with lies and misinformation, the populace will no longer feel depressed and misled. I feel like I am repeating myself. But the more we ask for accountability, the more outrageous the situation becomes.
Actually, I am going to stop right there, and leave you with these:
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