- South Africa Rating Cut by S&P on Mining Industry Strikes
- South Africa Rating slashed by Moody's
- South Africa: Treasury Notes Standard and Poor's Downgrade
New Generation Africa believes that the recent high profile downgrading of South Africa's rating is all designed to continue mounting pressure on South African government to crush the on-going legitimate mining industry strikes to protect the yearly multi-million dollars profit business by international organizations’ serving the interest of the Colonial masters whilst enslaving the African youths.
The mining industry strikers are fighting for a noble cause, they deserve a better pay, a fair play for a mineral resources that is made in Africa, serves a multi billion dollar industry with all the profit going to so called foreign investors with little or no interest for the welfare of their workers, slaving day and night to enrich their bank accounts.
The strikers are fighting for their future and they have paid a great price and huge sacrifices with their blood, many young innocent lives extinguished to protect corporate greed.
South African Police killing its own to serve the selfish interest of ruthless colonial master, hungry monsters, sharks and international gangsters with no conscience!!
"There is no historical evidence to support S&P's assertion that '...underlying social tensions [will] increase government spending pressure...'.
"Indeed South Africa's young democracy has seen several elections within the ruling party and government. None of these have impacted policy and budgeting in the manner that S&P suggests.
They embarked on enforced arm twisting, using economic pressures to spread fear and exert control over the market.
There is no denying that the continued strike action will impact negatively on the South African economy and future growth forecast. However if the underlying issues are not addressed now that it has come to the fore and carrying genuine momentum, the Government will be doing the citizens a disservice and living a lie because they cannot prevent the inevitable. It is right to pay the workers more, look after their welfare and considering the wealth generated yearly by this industry what the miners are asking for will have no impact on the yearly profit margin. The time of slavery is come and gone and we must stand up in AFRICA against this continued western slavery and economic rape.
If we flip reserve these situations and have this mining industry in the West, the same companies will pay at least 10 times the wages they are paying to South African workers and still remain profitable. WHO IS FOOLING WHO, IF IT IS GOOD FOR THE WEST, IT IS DEFINITELY DOUBLE DELIGHT FOR AFRICA!
NEW GENERATION AFRICA: of course wholly agree with the need to end the strike urgently but we cannot stand for is watching the voices of many being silenced by a few selfish profit driven western companies. Totally ignoring the need of the African continent and the great sacrifices we are making and continue to make in other to prop up the global economy dragged to the dungeon by western corporate greed.
We challenge the rating agencies to back up some of the un-quantified reasons they listed below as reasons for the downgrade of South Africa’s rating from BBB+ to BBB with negative future forecast with solid economic data’s.
New Generation Africa: believes the below listed reasons are over exaggerated and lacks credibility just like the rating agencies:
S&P gave the following reasons for the downgrade:
The recent strikes in the mining sector were likely to feature in political debates in the run up to the 2014 general elections, thereby increasing policy uncertainty;
Underlying social tensions that may result in amplified spending pressures, thereby undermining the fiscal consolidation path; and
Weaker business and investment climate, which may weigh on South Africa's economic growth prospects.
"S&P said the negative outlook reflects the medium term political, economic and fiscal ramifications of South Africa's social tensions, which could deteriorate further.
"Moreover, the difficulty of addressing the socio-economic imbalances could be exacerbated by increasing external pressure arising from slowing global growth and the risk aversion of investors,"
WE SAY TO THE INVESTORS, YOU NEVER HAD IT SO GOOD; THE TIME OF SLAVERY IS OVER, PAY UP OR STEP ASIDE BECAUSE WE HAVE DYNAMIC NEW GENERATION AFRICANS WHO CAN COMFORTABLY FILL THE VOID. ENOUGH IS ENOUGH!!
Follow us on twitter: http://twitter.com/#!/Newgenafrica Join our Blog: http://www.newgenerationafrica.com WE ARE PROUD TO BE UNIQUELY AFRICAN! UNIQUELY NEW GENERATION!! Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world ..... Albert Einstein