The Rand has lost about R2.50 to the dollar in the last 1.5 years but besides that, I don't think we have felt a full reccession here like the yanks have yet.
There the Walmarts are effectively closing down small retail competitors i.e. butcher, tyres & spares, clothing, bakeries e.t.c. by working on 10% margins, squeezing advertising/ promo rebates from suppliers, paying 30 days on statement but recieving cash in the till, reducing their normal 3 week stockholding to forcing the suppliers to re-stock within 5-7 days, unconditional return policy, staying open 24/7 and using cheap casuals- people moonlighting a second job who can't service their debt to pack shelves in the evening.
Business needs to drop the BBEEE bullS$%$t and sourse and support the smaller family businesses who will bend 24/7 to secure loyalty and provide service cheaper as long as they're paid C.O.D then the BBEEE's just to survive.
Business needs to reduce their pre-tax profits by uplifting the local shools and other projects like sponsering a loyal emplyee's kid through varsity. Our petro giant here is spending billions over the next few years on local projects, including refurbishing our airfield, parks, fire dept e.t.c. because everything would otherwise go to ruin. Why show it to the government to waste it for you?
We need to re-think our lifestyles to loosen up more cash- snip the credit cards, don't be lulled into loyalty bonus cards, don't support overpriced Woolies and clothing chains because of the ads and credit, don't drive cars costing more than a quater of your pay but something that's not worth highjacking, personally pressurise the local ( DA? make them work) councillers to look into bad service delivery/ neighbourhood government schools to provide proper education and not send the brats to private schools.
Shoo (
Am I repeating myself?
