Fanie Brink, Independent Agricultural Economist-
The ANC government's adjustment budget presented to Parliament by Finance Minister Tito Mboweni today has further exposed the irreversible and unstoppable destruction of the economy and the country due to its increasing overspending, budget deficits, debt burden and bankruptcy that will only get worse,” says Fanie Brink, an independent agricultural economist.
He says the budget once again reaffirmed the government's dominant role in the economy, as well as its total inability to understand how economic growth is being created all over the world today. The result is that he has already failed the country and its people with its ideology of socialism and communism, which has already begun the countdown to the final destruction within the next three to four years.
The political ideology of the ANC of "radical economic transformation" and "inclusive growth" is nothing more than pure socialism without economic growth imposed on the economy and the country by communist doctrines. This has undermined the private sector's investment opportunities and has increased government's interference and regulation of the economy.
The president's imagination, Cyril Ramaphosa, to "put the economy on a solid and sustainable path" is once again nothing but a total deception that, like his finance minister and the entire cabinet, does not understand the economy! To "lower interest rates in the long run to grow businesses faster and increase household spending," is a total fallacy because the role played by interest rates in the economy is negligibly small and the fact that the economy is driven and created by the profit motive.
“The government's inability to improve the economy and the country from the distressed conditions of a bankrupt and failed state with ever-increasing budget deficits and government debt, high unemployment, destroyed state enterprises, no economic growth, corruption and junk credit status that has now reached extremely destroying levels which is by no means sustainable,” according to Brink.
