South African middle class is in deep financial trouble
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- čas přidán 16. 11. 2021
- The latest debt index from Debtbusters shows that the South African middle class is in deep financial trouble. Consumers are falling further into debt with more people turning to unsecured credit to supplement their salaries. As the Reserve Bank’s Monetary Policy Committee meets today, many consumers hope interest rates will remain steady.
Debt Busters CEO, Benay Sager, gives us a sense of what this means for your pocket.
Tune into Newzroom Afrika, DSTV channel 405 for more details.
I have lost my house every thing went up except for my salary thank you very much and oooh yes the bank was harrasing me up to 5 times a day made things even worse.
Wake up the Gov and banks are not your friends
Im sorry to hear that. The whole banking institution has always been criminal.
The problem is that we people who care about our country are the only ones trying to take out ANC of power and thats only the minority of us which is killing us 😭😭😭
This is depressing , especially for us graduates looking to find jobs
Either emigrate, or start building your career online so you can minimize the costs of a brick-and-mortar business.
The world is changing. I hope you can find people to network with to help you get started.
It doesnt help , everything up going up except our salaries. Who do you expect families to survive when household income doesnt match the rate at which costs increase. even when we had assets to secure loans, we will still find ourselves in the same position. The worst part is the cost of housing has sky rocketed and financial still prostitute the same repossessed house for more money.
ANC policy summed up in one commie quote:
The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
Vladimir Lenin -
Exactly, that is why we need to leave this shthole and go where we are treated best.... The countries with strict laws, good security and low taxes....
This Was The Plan For The ANC All Along...
Could not have said it better. The politicians' real jobs are to trash the economy, pacify and entrap the population, and prepare to usher in the UN/WEF/WB/IFM/NATO or whichever alphabet soup agency they are planning to use for their one world government
Bullshit...South Africans dont have a history of saving....most of them live faaaaar above their means.
@@ruthlongridge2137 What a lot rubbish...
Dont blame other if dont save anything for a rainy day..
@@truth-Hurts375 It's true that many who can live beyond their means - when the green monster scratches you as you see you neighbour's new car,/house/obscenely lavish lifestyle, remember that it belongs to the bank. Imagine what will happen when the bank pulls the plug, or 1000 days to flatten the curve means loosing a job/home...
@@truth-Hurts375 The rain won't stop until the poor starve to death and the middle class become the new poor
This is sad. Thanks for covering this.
why are there so many uploads with no sound?
oh snap my debt is 300% of net income, they talking about me
How do you calculate it?
The SA Reserve bank is acting responsibly , few examples of this in South Africa.
Thank You for this upload, from Bouw, Sean Mr.
🙏💚🙏💚🙏
#SAElections2024 🗳 💚
#VotePatrioticAlliance
#TheLastHope
But, Mr. Bouw, surely we haven't given them enough time to flesh out their political mission statement yet? What do they stand for after we have deracinated all foreigners?
Your leader wrote about Zuma as a hero! Not taking chances.
Becouse of the foreigners
Consider and put more effort in putting more relief into the working class thw same way governments stable over themselves to put relief into banks that recklessly lend out credit to the consumers. and this not releif by saying instalments will be reduced, put money into hands of the consumers the sàme way central banks will sign off trillions of rands dollars to billout the financial sector. mathematically speaking , what you do for the left hand , do the same for the right.
We will always stress about issues and who`s doing what and who`s not but can we as a people please come together and appriciate the beautiful lady thats giving us this news , yeses jerrrr she is beautful maan damit
Interests rates should be the least of peoples worries. Interest rate represent the form of exchange(money), not the actual goods. People should be looking towards being able to produce goods/needs for "themselves", in which case they need land. That's where their minds should be fixated. There's no scenario where the country becomes richer in actual, not in statistics without its people taking full control of the land. There's no such scenario... The one who owns land controls the one who doesn't. That's how it's always been, that's how it will always will be... I know a man that doesn't work convesionaly. But whose richer than than most highly paid people. he lives a simple life that revolves around his land, animals, and crops. People come to him, he doesn't go to them. When it come to animals all he worries about jackals, wild cats, and other wild animals that prey on his stock, especially during mating season. Now that's true wealth. Even the bank knows this because there's never been a time when I'm with him and someone from some financial institute doesn't phone him offering him a loan
Cool Story Bro
Enough said.😇
So we have the plan to wrest the land and our own governance back for the imperialists, ensure that the people have the means and the knowledge to become self-sufficient, and to avoid enslavement by the NWO. #OHM #FreedomSA #DirectElections
I have worked all over Africa and South America... I can tell you that a life of subsistence farming is a much harder life than that of a beggar...possibly even the life of a slave (although I could not say that for sure, never actually having seen/been a slave)
What Africa, and South Africa in particular, desperately need is Industrialization which will come with jobs, preferably well paying jobs....I our climate subsistence farming is even more difficult than in most places.... In order to do this we need to make use of our abundant coal reserves, build new power stations and stop believing the scare tactics of the rich countries who want us to sit on the reserves and stay poor while they thrive.... In a 100 years, when the coal reserves are gone, we can revert to Nuclear fusion and hopefully by then nuclear fission...
Stop believing BS about renewables...It is a fantasy and a vanity project for these countries who are already wealthy....
If you get free land, the best you can do is sell it and invest the money in a business...However if land can be taken away, it will lose all value and you will not be able to sell it....
@@Macedonia270 IMO regenerative, non-bigagri subsistence self-sustaining and trading farming communities are the way to go. The guys who are devastating us are the only ones with capital to do the industrial investment you speak of, and they have other plans. I agree that renewables are unsustainable BS, but their reasons for pushing this are the same as those behind the decimation of democracy and economy world wide: The Eddy Minimum is about to descend and they are preparing for their preferred future, which excludes most of us.
WRONG! MOVING GOODBYE
Except for the ANC we're ALL in trouble.
The DA and FF+ are the only ones enjoying themselves in the country .
Dude, the ANC ran out of money a few months back. They gonig down with all of us :)