Politics, news & academia

What "Junk Status" means for the ordinary man

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armand-rooi
armand-rooiHost

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This has been the buzz phrase following S&P's recent classification of SA and the economy. But how will it effect me? As a dude chilling at home?
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If I'm not mistaken , doesn't it mean that interest rates and the likes will increase? Investor confidence has definitely declined because of this
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Who or what is S&P???
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Who or what is S&P???
Standard & Poor's is a Ratings Agency - the other popular one is Moody's.
In the past, it's taken countries 7 - 12 to recover from junk status. Some never did. Interest rates go up, electricity, food, petrol - everything!
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For worldwide speculators, the FICO score is a measure of how sheltered or unsafe it is to loan cash to or put capital in a nation. The downsize tells financial specialists that South Africa is a high credit chance for banks and universal speculators and that implies we will be charged high loan costs on any global advances we get.
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If everything goes up then the people will be buried in debt. Interest rates, gas, food and necessities will be expensive and it would be hard to cope up.
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They are just making everything more complicated with this ratings stuff.
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Lol small minded people who can't even think for themselves, it is evident that banks and foreign investors are the one pulling the strings especially in the rise and downfall of the rand...why didn't the rand take a dive when it was discovered they had been colluding ...think people , think! Even this rating agency is not credible
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Black people in this country have been living under junk status since 1652 therefore fu#k that s&p
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SA downgraded to Junk status just after 3 days of long knives iyho how long will it take to upgrade this status? Gigaba kunzima. They have shown him that this is not home affairs, it's one Nil already
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Thabo Mbeki was spot on when he said 7 years even if you remove me you will be left with. NOTHING he was spot on we are now on JUNK STATUS which is nothing what a prophecy!!!
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We might be pathetic fools but the truth is: We are still colonised by the West, we as South Africans don't have a say or whatsoever when it comes to economy. We are failing because we are not in control. We are being brain washed by the Europeans yet we claim we've got freedom. The markets are being controlled by the Europeans, rand stability depends from them. They are the ones who came with the term"State capture" they, the Europeans do feel the pain of the Guptas presency in our country more than us as South Africans. Europeans together with the then finance minister has benefitted a lot in our economy. We as South Africans are being used by ontaba'kaykhonjwa to fight battles that won't benefit us but keep our economy in the hands of the oppressors. Europeans are very smart & knows how to use media to divide us as Africans for their benefits.
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Once richest country in Africa, now junk! Eish
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Radical economic transformation he promised. Well it doesn't get more radical than this!
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The rating agencies are nothing but a bunch of political pundits fronting for speculators in America. These are the guys who gave the mortgages in USA AAA ratings when in fact they were junk status and as a result they colluded to plunge the world into the worst financial crisis since the great depression. For you South Africa this is a great thing, in fact it's nothing new, apartheid government was junk status but how many people say life was good back in the day? This is the time to look inward for sustenance, China wouldn't mind what S&P, Fitch or Moody say. I don't get how people who refused to pay etolls causing a downgrade can cry foul in this instance. Life goes on despite Moody's mood.
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Junk means rubbish for those who live in cloud cuckoo land.
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Zuma loves this revenge he's causing No doubt about it
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Scaring tactics mxm they must go to the nearest hell they didn't rate south when traders and banks rigged our currency darkie wake up they are doing this for u to remove Zuma they can't do it on their own what if i tell u rand and us dollar are at R6.00 they sanctioned zim and claimed Mugabe can't rule mxm that's why Africa won't be independent they only enjoy when they loot africa , they can bring this country to its knees we got brazil ,Russia, china on our back we will survive dont be scared by snowflake threats viva nxamalala mayibuye africa
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Yeah we finally reached Zim status hope everyone got wheelbarrows for money to buy a loaf of bread.
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Let it be. South Africans should learn to vote with wisdom. I think poverty and starvation will intellect our decision making capability.
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