Land Issue Update

[Philip Copeman]

South Africa, see if you can get this :

In the last two years, we have already taken back one third of the Land! We only have to do this two more times and we have taken everything.

In the last two years the Dollar Value of Land in South Africa decreased by around 30% (one third rounded).

Where did it go?

It went into: the deficit, a tighter tax regime, consumption of foreign goods, legislation making it easier to tax landowners. By binding the assets of South Africa to the National Debt, we may just as well have invaded the farms. The economic effect is almost identical.

Did you feel richer?

Sure if you were part of the bloated Government circus, you were paid out of the capital account of the country. The cost was horrific, about R1,5 Trn was lost to pay you R300 Bn.

The only people that really felt this cost were people with unbonded assets. Next to get it will be those forced to degear. The rest will feel it when the retrenchments start.

Thats it. The money has gone, the national debt stands, the interest bill is bigger than social grants, capital is depleted, the 1% have been made 30% poorer and our future will pay for it.

A capital depletion rapidly leads to decline in employment. We are already one third into it. The next two thirds leads us to 90 % unemployment (Zimbabwe).

Now I ask you again - do you feel richer?

No? Then you get it!. Thats is what we mean when we say, "You can't make the poor richer by making the rich poorer."