The South African Reserve Bank (SARB) governor Gill Marcus announced yesterday that the REPO rate will be hiked by 25 basis points. This is the second rate hike this year and takes the REPO rate up to 5.75% and the prime rate up to 9.25%. Yes folks. It has started.
The best argument against democracy is a five-minute conversation with the average voter. Winston Churchill If you live in a “modern democracy” and you think you are going to vote your way out of trouble, in my judgment, you are rather optimistic.
The borrower is servant to the lender, except when borrowing to finance the purchase of a house, or a car. Proverbs 22:7, New International Baby Boomer Translation
5 years. That’s how long it takes for the truth to filter its way into the main stream media. What I’m talking about is High Frequency Trading, which was finally “exposed” on CBS last night. Funny thing is, this exposé is old news to many people, who for many years have been trying in vain […]
In my previous article I explained why buying a house is often a very silly financial decision, especially for people who are young, or those that have a low net worth. In this article I’m going to explain why I think people are so infatuated with the idea of buying and owning a house, even […]
Many people have a weird obsession with homeownership. When it comes to buying a house, they are willing to overlook, or even completely throw out, a bunch of financial values and principles they claim to hold dear. The unfortunate truth is, for many middle-class folks, buying a house is often a very silly financial decision, […]
I thought it was only in America… … but then my girlfriend told me DSTV has a dedicated channel to cover the Oscar Pistorius Trial. I did a quick search and what do you know? It is true. Turns out the average South African middle class citizen is just as obsessed as the rest of […]
Via Monty Pelerin’s World, Common sense is all that is required to be a good economist. Unfortunately, in order to get your union card, you must pretend to have none. Belief in fairy tales like more spending and “free lunches” is also necessary. What Is A Zombie? Webster defines zombie as … a will-less and […]
DISCLAIMER: pour yourself a stiff one before watching. Isao Hashimoto: “This piece of work is a bird’s eye view of the history by scaling down a month length of time into one second. No letter is used for equal messaging to all viewers without language barrier. The blinking light, sound and the numbers on the […]
People only want to be contrarians when it’s popular. Rick Rule In 1951, an American psychologist named Solomon Eliot Asch conducted a series of experiments to determine how people’s beliefs are influenced by the opinions of the people around them. In the experiments, Asch asked a series of questions to a group of people. The […]