Throwing the little guy under the EWC bus – Frans Cronjé

- | 2 months ago

This sober, rational – and frightening – analysis by the Institute of Race Relations is a classic illustration of the ‘boiled frog’ syndrome where South African land owners get lulled into a sense of false security by banks eager to please ruling politicians.

It’s among many examples of socialist command-and-control policy-creep that threatens to push this country beyond economic viability. Banks and many big businesses seem to have grown from vigorous tadpoles thriving in lukewarm water to inert, full-grown frogs in fast-warming water, the IRR screams at them to wake up and get out.

Before they collapse under the weight of unpaid loans as the latest EWC draft bill gives ANC cadres power to expropriate without any compensation, leaving land owners (urban and rural) without ready cash to pay-back outstanding loans.

read full story