Well the US eventually politicked their way into printing more dollars, ensuring that lower dollar values would not precipitate any bond holders calling for dollar repayments, which in essence they cannot afford to repay!The global debt crises worsens daily and with market sentiment at an all time low, investors are panicking as evidenced by very volatile bourses. The various country unrests that we are experiencing, ala Libya, Middle East etc are making matters worse along with the deeply indebted nations such as Greece, Portugal, Ireland, Italy, Spain, etc all giving off negative indicators of not being able to service their massive debt obligations. It would appear that there is no possibility of avoiding a double-dip recession and we had better brace ourselves.
Back home we need to focus on our own job creation crisis as unemployment continues to rise with more negative employment data expected over the next few months.
Self-indulgent politicians and their parties need to wake up to critical priorities and to begin to spend budget allowances urgently in order to start mobilising the construction industry, that in turn will commence re-employment and create some positive spin-off. There is no other place to begin, so focus on what is immediately possible and get this done before the festive season shut-down.
The Super 15 Rugby competition has not helped sentiment with regard to support of our national team and with the Rugby World Cup now looming, the last thing we need is a Springbok disaster in New Zealand. The nation will go into cardiac arrest!!
