What's really happening in South Africa 💀
[media=https://m.youtube.com/watch?v=7OChDrlKLGg]
The country entered an economic crisis due to extreme mismanagement and corruption. As a result, the government had to blame someone - and of course, the easiest target to blame is the "rich".
They started blaming the rich, but it turns out that most of the "rich" are from outside the country or are second/third-generation immigrants and consequently white. They began blaming the rich whites and started nationalizing and stealing everything from these people solely because of their different skin color.
Naturally, the whites stopped investing in the country and began fleeing en masse. As a result, those who took over and stole the businesses of the "rich" had no idea how to run a business, and the crisis worsened even further.
Some facts: since 2008, South Africa's debt went from 24% to 75%, while the economy grew at an average of 1.4%, below the population growth rate - meaning GDP per capita has fallen. Currently, South Africa spends one-third of its tax revenue just to service its debt and has a deficit of 5%.
The country entered an economic crisis due to extreme mismanagement and corruption. As a result, the government had to blame someone - and of course, the easiest target to blame is the "rich".
They started blaming the rich, but it turns out that most of the "rich" are from outside the country or are second/third-generation immigrants and consequently white. They began blaming the rich whites and started nationalizing and stealing everything from these people solely because of their different skin color.
Naturally, the whites stopped investing in the country and began fleeing en masse. As a result, those who took over and stole the businesses of the "rich" had no idea how to run a business, and the crisis worsened even further.
Some facts: since 2008, South Africa's debt went from 24% to 75%, while the economy grew at an average of 1.4%, below the population growth rate - meaning GDP per capita has fallen. Currently, South Africa spends one-third of its tax revenue just to service its debt and has a deficit of 5%.
36-40, M
