If the government's strategy is to make you poor, it's doing a great job. With no realistic plan to dig South Africa out of its current mess, it's hard to imagine it's going to achieve anything else. Ironically, its current fiscal fumbling is serving to make the already super-rich with globally diversified portfolios even more wealthy in rand terms while condemning the rest of us to a less prosperous future. This week provided a perfect example of how poor management of the economy and state-owned enterprises contributes to widening the chasm of South Africa's economic divide. Investors are starting to price in a full ratings downgrade by December on both local and foreign debt. Another recent bail-out of SAA served to confirm the state is willing to keep throwing good money after bad, and the postponement of Eskom's results on Tuesday means we don't know how deep that money pit is. The centre may have held to protect South Africa from the worst of the lunatic fringe proposals at th...
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