South Africa's downgrade to junk status will result in extreme economic hardship for it's people, especially the poor.
Members of Jacob Zuma's inner circle have however welcomed the downgrade. The likes of Nomvula Mokinyane and Dudu Myeni were overjoyed, joining with Edward Zuma in celebrating the downgrade.
Mokinyane's remark was especially telling: " it's actually better Western investors will pull back and we gave an opportunity to bring them back in (sic)
our own terms". Clearly Mokinyane's comment rises to the level of atmospheric ignorance of economics.
Instead of making a complete unpatriotic fool of herself, she should recognise her cerebral limitations are more in keeping with her water and sanitation portfolio by providing decent sanitation for the poor in the settlements. Failing that she must be taken to task for spewing a load of BS.
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