Tag Archives: debt
Coronavirus Amplified: Interruption for Hamburgers & Lizards
In the Year of Our COVID, we’re making ashes with the bones of ourselves. I interrupt my coronavirus info blog series to share frustrated opinion about hamburger fatties and green lizards… THE LIZARDS I’m not an economist. I don’t understand most of the figures they flash on TV as ‘proof’ of what’s up/what’s down. However, it’s impossible for the financial industry (whose job it is to be profitable) to be profitable all the time. We must constantly remind ourselves that the only way they can do their job is to … Read the full article…
Mini Budget Speech, Massive Doom & Gloom
Minister Finance Tito Mboweni is to be credited for delivering overdue honesty regarding the state of South Africa’s economy. He did so during the medium term budget speech, what some call the mini-budget. It’s also good news that the National Prosecuting Authority’s budget is going to radically increase. But positivity dies there, overwhelmed by a storm we have little chance of clearing. BUDGET INTENTIONS The intended unbundling of Eskom, and SAA partnership with private companies, will be stopped by unions. The R59-billion Eskom bailout Eskom just received is harsh fact … Read the full article…
Documentary: The Four Horsemen
FOUR HORSEMEN is free from mainstream media propaganda — the film doesn’t bash bankers, criticise politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions. “It’s Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft’s crack team of talking heads — economists, whistleblowers and Noam Chomsky, all talking with candour and clarity.” – Total Film
Read the full article...Knysna: Leticha and the Debt Trap
Leticha Marinana, like millions of other South Africans, has lived in a debt trap after buying on credit from companies such as Foschini and Edgars. When your only income is a state Disability Grant of R1,500 per month, every rand counts. THE DEBT TRAP BEGINS… Ten years ago mentally challenged Leticha Marinana opened a credit account to buy clothes at Edgars, South Africa’s largest fashion group. Over the first three years she bought R10,497 worth of items, then never used her card again. With interest and charges she’s paid back … Read the full article…
Banking: 12-Yr Old Knows More Than Most Adults
If every South African adult watched this short video by Victoria Grant, a 12-year-old Canadian, they’d better understand why life is getting harder, why the middle class is shrinking and why our infrastructure is failing. It’d help you understand that the world is controlled by debt, the result of governments selling the rights of money-making to corporate interests. We all work for the banks, even the South African government. It’s a system that is failing right now.
Read the full article...South Africa: Debts 3yrs Old Cannot be Collected
If a debt collector contacts you, and the unpaid portion is older than three years, then it is illegal for them to collect it. Despite this, debt collectors continue to do it! Why? Two reasons: because they are greedy scumbags and people do not know this law. Debt collectors will try some very dirty tricks to get you to AGREE to the debt. DO NOT DO THIS. Here is a must listen 15 minute interview with Tony Webbstock, a lawyer who explains the law of prescription. If you are having … Read the full article…
Victory: Garnishee Orders Ruled Illegal
Single mother and sole breadwinner Lisinda Bailey became tearful in court after Western Cape High Court Judge Siraj Desai declared the deductions which had been made from her salary were “invalid and unlawful.” The 40-year-old from Stellenbosch is one of 15 consumers who approached the University of Stellenbosch’s Legal Aid Clinic (LAC) for assistance. “I had to make monthly payments of R2,600 which was more than I can afford. As the only person working in my house, I struggled every month,” she said. “I’m so happy and grateful to everyone … Read the full article…