GLOBAL FINANCIAL WHIRLPOOL September 26, 2008
Posted by frostygirl in Uncategorized.1 comment so far
Have you ever studied a whirlpool? It is facinating to watch! It is a swirling body of water that moves rapidly in a vortex shape, moving downwards.
The global financial crisis can be illustrated as a “whirlpool” in that it feeds itself by pulling in massive funds from every source it can find and as the funds are “pulled” into the vortex it disappears rapidly into a seemingly never ending maelstrom.
Billions of dollars, trillions of yen, billions of pounds, billions of euro’s, etc. have been poured into the financial markets and it has not helped, now they want to use $700bn of USA taxpayers money to pump into this whirlpool and they do not know whether it will be sufficient. I can tell them…. it is not!
Nobody seems to know how bad the situation really is, it has taken decades to get into this mess and there will be no “quick fix”.
Greed has brought the world to the current financial crisis and many people will suffer because of it, stop feeding the global whirlpool it is going to suck you dry!
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ANC DIVIDED, ARE THEY READY TO FALL? September 24, 2008
Posted by frostygirl in Politics.Tags: president, south africa, Trevor Manuel
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Jacob Zuma’s supporters left no stone unturned to ensure that his road to becoming President of South Africa was smoothed over, they did not care who they hurt in the process and of course their actions has caused great division in the ANC camp.
The ordinary man in the street may well be excused if they wonder what on earth happened in our country this last week, President Mbeki was forced to resign by his own party just a few months before the next general election in South Africa. What was the purpose behind this?
A man who is respected worldwide (Mbeki) is removed to make room for a man (Zuma) who may be corrupt, whose morals is suspect and who will allow the country to become ungovernable just to achieve his goal.
When Mr. Mbeki resigned the the Deputy President, Phumzile Mlambo-Ngcuka who is loyal to him also resigned, which left the country without a clear leader prior to the 2009 election. Now we have a situation where our country will be in the hands of someone who is virtually unknown to most people outside the ANC camp, namely Kgalema Motlanthe.
Kgalema Motlanthe previously raised concerns about what he believed were Mbeki’s attempts to impose the government’s decisions on the ANC when Mbeki wanted to take action against Madlala-Routledge, Deputy Health Minister, arguing that she had undermined not only him but the ANC as a whole.
Read his profile here:
http://www.thetimes.co.za/News/Article.aspx?id=848569
Trevor Manuel, our Finance Minister also resigned, which caused the financial markets to tumble sharply as the overseas markets reacted to this negative news. He later advised that he resigned as Mbeki had appointed him in the position and that he was willing to serve under the new administration if they wanted him to continue in his post as Finance Minister.
Minister in the Presidency Essop Pahad and Science Minister Mosibudi Mangena has indicated that they also intended resigning therefore a third of the Cabinet resigned after Mr. Mbeki resigned.
This once again proves to me that one cannot understand the African mindset, they make a mockery of our country by making decisions without thinking what the impact on the country and its people would be.
What next?
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MBOWENI’S RACIAL SLUR ON WHITE SHAREHOLDERS September 19, 2008
Posted by frostygirl in News.Tags: Mboweni, reserve bank
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The attitude of the Reserve Bank Governor at the annual general meeting is a cause for concern to all South African’s no matter what the colour of their skin!
Tito Mboweni should not allow emotions to cause him to be rude and disrespectful to the bank’s shareholders, if the shareholders were out of order it should have been handled in a professional manner by him and he should not have made the comments he made.
The Bank is somewhat unusual in that its shares may be traded privately. It is one of only nine central banks worldwide to have private shareholders and there are 2m shares in issue where one receives one vote for every 200 shares. Shareholders and government are allowed to appoint seven directors each.
In view of the above the annual general meeting should be held according to specific guidlines and shareholders are entitled to ask questions and expect to receive intelligent answers to these questions.
Mboweni refused to allow certain shareholders to speak, he said: “I’m running the meeting, not you. If you don’t like the way I run the meeting you can leave. And you’re not welcome back.”
When another shareholder said that Mboweni’s conduct was “shocking” Mr. Mboweni responded: “You mustn’t speak to me the way white people used to speak to black people.”
Where in the world do you find such conduct from an executive of a Financial Institution towards its shareholders? He was conducting a standard shareholders meeting and as such the shareholders by virtue of their holdings have reasonable grounds to raise questions to the board/directors of the company.
What does Mboweni have to hide? Maybe the shareholders should ask for an audit of the SA Reseve Bank’s books to ascertain why their questions are not being answered.
Go to this link to read the interview with Michael Deurr one of the shareholders:
http://www.moneyweb.co.za/mw/view/mw/en/…
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DOES THE USA FINANCIAL CRISIS AFFECT SOUTH AFRICA? September 16, 2008
Posted by frostygirl in News.Tags: banking, financial crisis
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The above question was directed at a South African financial advisor today in one of our local newspapers and the answer was: “No.”
It amazes me to see this type of response, no wonder the financial world is in such a mess!
It is obvious that the crash of Lehman Brothers will affect our financial market. Why do they have to lie to the general public? It certainly will not help the general public because if they listen to these lies and continue to bury their heads in the sand they will wake up with a big shock when everything comes tumbling down around them.
Greed is the underlying cause of the present financial crisis in the world, the huge organizations wanted to please their shareholders by posting huge profits every quarter and while chasing these huge profits they forgot to take the usual care to ensure that their “book” was sound and that sound financial principles were applied.
The USA and the UK are in a recession and many financial institutions in both these countries are in serious trouble and the big insurance companies who underwrites or acts as re-insurers are also experiencing a huge financial crisis (for example AIG).
What effect is this going to have on SA? An enourmous effect because our economy and financial markets are closely linked to theirs and it will certainly cause our shares to drop as can be seen on the All Share Index today which dipped below 25000 for the first time in a long while today.
The whole world is in for a very rough ride, we have seen nothing yet, watch the Asian markets tumble sharply now because they are going to feel it very badly due to the fact that they are mainly exporters of goods and are reliant on their overseas buyers.
My advice? Pay off your debts fast, cut up your credit cards immediately, stop spending on luxury items and start saving. The future is very uncertain so many jobs are being lost so do not get complacent and think it cannot happen to you, it can!
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RAZELLE BOTHA OVERCOMES HER TRAUMATIC EXPERIENCE September 10, 2008
Posted by frostygirl in Uncategorized.Tags: Razelle Botha, shot, victim
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Eighteen-year-old Razelle Botha, who was left partially paralysed after she was shot in a house robbery in Pretoria, is winging her way around Canada and will be visiting Calgary University where she will be sorting out her enrolment and other academic matters ahead of next year when she plans to begin studying either medicine or actuary science.
Razelle was shot five times in the back eight months ago when two gunmen ambushed her in her bedroom at her family’s Moreleta Park home. The 18-year-old, who was in Pretoria East Hospital’s ICU for about two weeks with a near-severed spine, started her rehabilitation in February and after a lot of hard work she is now well enough to travel.
Razelle’s mother, Cobie, this week said her daughter was having a fantastic time overseas, where she was on a three-week road trip with her father. “She absolutely loves it and is having a ball.”
“The holiday is doing wonders for her and is helping her overcome her ordeal,” she said, adding that while Razelle was still using a wheelchair and crutches she was recovering well.
It is wonderful to see the fighting spirit of this young girl who touched the lives of thousands of people across the globe and saw hundreds of letters of support pouring in from across South Africa and the world, because she did not give up, she took everything in her stride and carried on with her life.
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OSCAR “BLADE RUNNER” PISTORIUS WINS GOLD! September 9, 2008
Posted by frostygirl in Sport, Uncategorized.Tags: gold, Oscar Pistorius, paralympics
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Paralympic gold for Oscar today! Oscar came from behind and and snatched gold from United States’ Jerome Singleton during the finals of the Men’s 100m T44 race. Oscar seemed to be out of the race after a slow start on the wet track, but he powered down the staight and pulled off the win! The runner in the photo with him is United States’ Marlon Shirley.
Oscar won a legal battle in May for the right to run in the Beijing Olympics against able-bodied athletes. However, he failed to meet the qualifying time in the 400m, but he is setting his sights on the London 2012 Olympics!
Well done Oscar, all the best for the 200m and 400m races!
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GOLD, GOLD, GOLD, GOLD! September 8, 2008
Posted by frostygirl in Uncategorized.Tags: gold, medal, Natalie Du Toit, Oscar Pistorius, paralympic
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Natalie Du Toit won our first gold medal at the Beijing Paralympics when she won her 100m butterfly event in the pool in a world record time.
Not to be outdone Charl Bouwer claimed gold in the 400m freestyle (class S13) in a new world record time of 4:14.02.
Natalie claimed her second gold medal in the 100m freestyle (class S9) event and we hope to see a few more gold’s from her soon!
Philippa Johnson added the fourth gold in the Individual Equestrian Championships (Grade IV).
Now we are waiting for Oscar Pistorius (the “Blade Runner”) to strike gold, he will be running the 100m, 200m and 400m events. He is a double amputee and races with prosthetic legs.
Well done to all our paralympic athletes, we are very proud of all your achievements, even if you do not win a medal, you do us proud just by being there!
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SOUTH AFRICA FACES ANARCHY September 2, 2008
Posted by frostygirl in News.Tags: anarchy, ANC government, ungovernable
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South Africa risks sliding into anarchy if level-headed people within the ANC as well as other influential people in society do not speak out against dangerous utterances which undermine the country’s constitutional democracy, legal expert, Professor Extraordinaire Shadrack Gutto has warned.
Speaking at the inaugural lecture of the Tshwane University of Technology/Pretoria News Intellectual Public Lecture Series, Gutto said South Africa was experiencing an absurd situation, where functionaries of the ruling party were labelling the courts as “counter revolutionary”, and were threatening to make the country ungovernable if the courts made decisions which were not favourable to the ruling party.
Read the rest of this article written by Babington Maravanyika (a black person) by going to this link:
This is a MUST read for all those who are interested in politics in SA!
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