Where do I even start?
South Africans woke up to a completely reshuffled cabinet that left jaws hanging, and as usual, there was some heavy backlash from opposition parties.
Maimane dug deep into Zuma’s flesh by saying he lacks prerequisite skills to understand the effects of reshuffling his cabinet at a time where the economy is stagnant and well, Twitter, as usual trolled the President for the sudden substitutions in the cabinet.
As if that wasn’t enough Standard & Poor’s Global Ratings cut South Africa’s sovereign credit to junk status.
That’s right, folks, certified JUNK!
Political upheaval after political upheaval has really not done any good for our dwindling economy.
That’s the point we have reached, when economists said junk status is inevitable for South Africa I was part of the that is just a big ‘hoo-ha’ brigade, humble pie served.
This could have a drastic effect in the long term, higher interest rates on loans meaning you will be paying more to borrow and financing will rocket, making it harder to pay for your jalopy and home.
Inflation will also rise, making food and petrol prices higher, as if they weren’t high enough already.
Up in smoke, that’s where we are headed.
Speaking of up in smoke, the Western Cape High Court made a ruling that it is an infringement to ban the use of cannabis at home, that allows for possession, cultivation and use at home, which is a victory for cannabis enthusiasts country wide.
Reshuffling, junk status and high news… Talk about crazy fluctuations.
