EXCELLENT: Fitch downgrades South Africa deeper into the dreaded ‘junk status’ – My Comments
Video: Economic War: White Labour Vs Jewish Capital
In this video I discuss the economic fight and how Whites can save themselves.
[This is fantastic. Sink the black/Jewish/Liberal economy. Destroy it. This will really scare and shock whites in SA. Its about time. They need serious wake-up calls. And I think this winter, you'll see more lockdown in SA even if they lift it a bit. Sink the ship. Torpedo it.
The lockdown, which has hit the SA economy, is one of the factors cited by Fitch when downgrading SA further into junk status.
Ratings agency Fitch downgraded South Africa’s credit rating further into “junk” territory on Friday, another blow for Africa’s most industrialised economy, which is still smarting from a Moody’s downgrade last week.
Fitch lowered its long-term foreign-currency issuer default rating to ‘BB’ from ‘BB+” and assigned a negative outlook.
The agency cited “the lack of a clear path towards government debt stabilisation as well as the expected impact of the Covid-19 shock on public finances and growth” among reasons for its decision.
South Africa’s finance ministry acknowledged the downgrade and said it would implement structural reforms to address weak economic growth.
“Government is seized with addressing and minimising the impact of Covid-19, implementing measures to improve economic growth and setting government finances on a sustainable trajectory,” Finance Minister Tito Mboweni was quoted as saying in a statement.
Social grant increase may end due to junk status, says economist
Fitch forecast South Africa’s gross domestic product (GDP) would contract 3.8% in 2020 and that the consolidated fiscal deficit would surge to 11.5% of GDP in the current fiscal year.
It said a government-imposed 21-day lockdown to contain the coronavirus outbreak was a primary reason behind this year’s expected contraction.
South Africa’s public finances have been stretched by a steep run-up in debt in the past decade, partly to fund bailouts for ailing state companies like power utility Eskom and South African Airways.
Moody’s stripped the country of its last investment grade credit rating last week, a move which will see the country’s local-currency debt ejected from the benchmark World Government Bond Index.
Video & Audio: TOP SECRET: WW2s Biggest Tank Battle they never talk about
This was one of my 3 viral videos on Youtube before they quickly killed it. The original video was made in 2016. Look in every history reference book for the biggest Tank Battle that was ever fought and youll find they talk about the Battle of Kursk (or the Kursk Campaign). Heres the greatest tank battle in all of history and the fantastic Wehrmacht won it with ease, even when they faced tanks so new and so advanced that they had never seen these types of tanks before and even when their shells just bounced off the Soviet armour!
