coming austerity - Page 1/5

Subject: coming austerity
Replies: 33 Views: 863

pmbguy 15.12.18 - 03:02am
the future looks bad. seeing how the government seems to be set on keeping all the state owned enterprises running to save a few thousand jobs at the cost of billions...

currently in France there's protests at a plan for raising taxes, this isn't just about the latest increases but goes back to the financial collapse in 2008, monies paid to prop up businesses and banks, which meant austerity measures had to be put in place to cover for the bailouts.

ok, I'm not precise on the number of jobs involved, but let's say SAA employs 20000 people, considering that they've been repeatedly bailed out for billions (I daresay up to 50 billion by now...)

that means everyone who works there could have been made a multi millionaire to make up for job losses and not required more money to be continually pumped into a failing business...

factor in bailing them out for the next few years and there's a high chance the GDP to debit ratio will be a mess, the currency will be downgraded below investment and millions of people people will be stuck with austerity measures affecting service delivery, education, medical, etc...

and all this to save a few jobs. I say a few because compared to the millions of people who will suffer possibly for two or more generations, does this actually make sense? * +

pmbguy 15.12.18 - 03:07am
pretty much if you compare the money pumped into each SOE to the number of jobs involved, they're spending millions on each job instead of just investing in setting up a fund to keep paying people and selling the failing business, for the good of future generations... * +

shadow27 15.12.18 - 03:39am
Cannibalism and Stalin reruns * +

pmbguy 15.12.18 - 09:48am
got the figures for Eskom too... 419 billion needed, 48000 employees...
eight million three hundred eighty thousand per job... madness, just put that in an account and pay employees the interest, I'm sure their families and communities would be much better off than when they're suffering from austerity measures and have lost their jobs anyway when China comes for their money and takes control of Eskom, then staffs it with Chinese workers...
* +

pmbguy 16.12.18 - 10:56am
double standards, now Edcon the company that owns the chain stores, Edgar's and Jet, employing over 140000 people is seemingly broke and due to close down... seeing how the government is willing to spend 400 billion to save under 50000 jobs, shouldn't they be jumping in to save 3 times the jobs? * +

pmbguy 16.12.18 - 10:59am
n all they're asking for assistance with is 2 billion, while Eskom is demanding 100 billion... the madness of fools! * +

pmbguy 16.12.18 - 10:59am

@ pmbguy - 16.12.18 - 10:56am
double standards, now Edcon the company that owns the chain stores, Edgar's and Jet, employing over 140000 people is seemingly broke and due to close down... seeing how the government is willing to spend 400 billion to save under 50000 jobs, shouldn't they be jumping in to save 3 times the jobs?

[link]Source Article:https://www.celebgossip.co.za/general-news/8576-edgars-and-jet-stores-owners-edcon-now-dead-broke-140000-people-to-lose-their-jobs.html[/link] * +

pmbguy 18.12.18 - 03:54am
you see austerity measures coming to the UK soon due to Brexit? * +