Thursday, 9 October 2008

SA Interest Rate Cut Looms?

The picture to my left, is because I have been useless... I've neglected my BLOG and neglected you my readers.

So with that little sad thought in mind I've decided to make a little more effort. Take a little more time in writing my BLOGS but giving you, the readers good, unique, fun readable content, that'll make you laugh and smile and cry at times (that's just how things are in the times we face)...

Now that I've made you all cry, lets talk about something a little more interest"ing".

There's been alot of speculation about the interest rate cuts worldwide. As you all have probably heard by now, half the 1st world countries have decided to drop their interest rates by 1% or more. This in an attempt to slow down the economic melt down we're currently facing and of course in an attempt to save markets from crashing along with helping people save money!!!!!!!! OH REALLY!!!!!!

So if this is what was intended, it most certainly has not had positive effects on the GLOBAL economy or on South Africa more specifically. Another thing that interests me, is why South African economists along with our friend Tito Mboweni decided not to drop our interest rates?

Does South Africa have the most advanced banking systems in the world?

We've not felt the knock like the rest of the world, and our banks are still in an ok position.... We're also lucky in the sense that should there every be a need to drop the interest rates dramatically, we've got a whole 15.5% to play with people.... Countries like ITALY where interest rates sit at a cool low 1%, are in trouble.

So, if you're South African and bitching about paying 15.5% interest on your current home loan. Think AGAIN, Think Mcain!!!

WizardMan Out!!!!

1 comment:

Free Music said...

well its good atleast you are back