1. MYTH AND FACTS ABOUT THE SOUTH AFRICAN ECONOMY:
UNDERSTANDING AND GROWING THE SOUTH AFRICAN ECONOMY
I am in a hurry to rubbish one of the most noted myth about South Africa’s economic character. This
myth – this ridiculous myth that: “South Africans need to save more to cultivate and spur economic
growth” is bugger all or plain bullshit.
The fact is South Africans do not need to save to spur economic growth. The fact is they need to
spend even more and more and more – spend every cent! The spin-offs of South Africa’s spending
zeal are more positive than negative. But “economists” stress the negatives more than the vast
positives because they think in chapters – chapter one; chapter two; chapter three blah! Blah! Blah!
I challenge true economists to come with economic products that will feed on the spending appetite
of South Africa’s economy. You see, the principal thing here is what do South Africans buy?
Do they buy products that create more products in the long-term, thus creating more and more
opportunities for increasing employment? Understanding and growing the South African economy
will require trading that produces goods and services that recognize and take advantage of the hyper
spending culture in South Africa.
South Africa’s spending has created millions of jobs, ask Raymond of Pick n Pay. The recently built
Mall of Africa in the Gauteng province and Boitumelo Mall in the Free State province are one of
many spin-offs of the remarkable spending power.
The fact is the foundation or the anchor or the cornerstone for ensuring high – rapid economic
growth in South Africa is spending and not saving! In South Africa; the higher the spending, the
higher economic growth will be and the higher saving will be! There more jobs will be!
HIGH ECONOMIC GROWTH
HIGH INCREASE IN EMPLOYMENT
SAVINGS
SPENDING