Economic Boom-Bust cycles (or Business cycles as they have come to be known) have perplexed most economists for decades, so much so that the economic explanations of the issue have effectively been tritely distilled down to “greed”, “irrational exuberance”, or “just a natural human cycle”. Of course all these explanations are complete bunk, and a group of theorists have been pointing this out for decades. Mainstream economists, sadly, pay little attention. read more…
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Cees Bruggemans article of December 1 is a must read for those keen to get confused. While I respect Mr Bruggemans, and don’t intend offending anybody, perhaps it’s time for him to reconsider quality over quantity. Cees pumps out two articles on an average day, and this one has just crossed the line from economics to gibberish. I read more… Analysts keep penning op-ed pieces about what a bad buy the gold companies are. You’ve heard it all before. Costs are too high, labour’s too troublesome, the gold’s too deep, the technologies don’t exist, etc etc. The problem is, this is a static view. SA’s horrible supply fundamentals do make the gold companies’ shares look like a fools buy for now. But it is an investors great folly when he only lives in the now. read more… The number of consumers who have credit accounts is more than triple the number of people who are registered to pay taxes in South Africa. The number of consumers who are in poor standing on their credit accounts exceeds the number of tax payers. This drove the boom in all things sales in the most recent economic cycle. read more… Take David Rosenberg’s “what if?” scenarios on gold into account when you ponder the revival of SA’s gold mining industry. Necessity will spur technology and innovation to get to the deep gold ore that is currently inaccessible, or unprofitable to mine. Would there be 3,000 or 36,000 or 60,000 tonnes of gold to be found underground at a price of $2,750/oz? read more… If Ludwig von Mises remains unknown in mainstream economic circles for much longer, we face a very grim economic reality. read more… We expect there will be renewed investment and capital inflows to SA over the coming years, particularly into the precious metals mining arena. See commentary on SA & Gold by James Turk, renowned gold analyst… read more… SA needs to beat Asia in attracting talented people. SA requires a ‘reverse brain-drain’. Human and physical capital flow toward places where savings and wealth is created, and debasing a currency is anathema to these capital flows. Ending the madness of a weaker rand to garner short-term gains is one way to get the ‘reverse drain’ read more… Inflation not a monetary phenomenon? Think again… read more… How did this group of entrepreneurs – particularly in the construction sector – manage to get it so wrong? Well, for those who care to listen, the reasons are in fact really simple . The business cycle is caused by the increase in the supply of money and credit in the economy, which has a tendency to reduce the market rate of read more… Yip its true. SA’s very own version of the biggest waste of money in motoring history. Government takes money from some people and gives it to others with old cars. To fund this government taxes us more. The people with old cars take their cars to professional destroyers of cars. In the end we’re all worse off… read more… Labour brokers are thriving in SA because employers have very little flexibility under current laws. Banning labour brokers will only force companies to find other ways of staying competitive and profitable. Without doubt, if we see this legislation passed next year we are going to see more illegal labour practices, more ‘informal’/'under-the-radar work’, more labour substitution through mechanisation, and fewer work opportunities for the unemployed… read more… |
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