You don't have to be a genius to see what is going on around you. Businesses are struggling big time in South Africa and are now looking at cost cutting. Good news for my business and I will take full advantage of this. The business sector is shrinking as consumers are not spending and this has been noticeable for quite a while. People are holding onto their money and aren't spending like they used to in the past. Either that or they have no money which could be part of the problem.
The money is not flowing through consumers hands and that is down firstly to the coffers being plundered by Zuma and his mates. Money gets handed out in Government tenders and flows back into circulation into the market place and keeps things ticking. You take that away and there is less money changing hands as there is none. If you take a few Billion out of the market place it will have a knock on effect somewhere.
I saw a chart showing the state of the economy and it shows the last 10 years and the last quarter was the worst ever. The country is in a crisis at the moment and something needs to happen and fast. People are blaming the shrinking exports and blame the US/China trade war. I believe it could have an effect, but it is time to think out of the box and not rely on things just to carry on as normal.
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Personally I think the disastrous results are down to the lack of electricity as the manufacturing industry was handicapped and suffered at the hands of no electricity or sporadic supply over a two month period. This is all self inflicted by poor management and poor governance by the Government. Blaming other things happening around you that you can't control are no excuses ,but the things you can you need to be accountable.
I do see everything pointing to a recession on a global scale at some point and we are heading there quickly. I think it will be good for crypto holders as having your money out of Fiat or some money anyway could be a saving grace. This could be the turning point where the masses actually take notice and take Crypto currencies seriously. Whenever the recession hits and it will at some point I think the Crypto space will be unrecognizable as we know it.
