BIG SHOCKS: COVID-19 Lockdown hits South Africa & African economies like a train at full speed …

(:E-:N-:R-AZ:C-30:V)   

Here are just a few summaries of stories from South Africa that will show you the economic impact THAT HAS JUST BEGUN!!! This is not the end. Even if we have partial lockdown, this is far from the end!

A few pointers:-
1. For the 1st time in 20+ years, the Rand collapsed against the US Dollar and hit 19!!!

2. They say "the poor" (alias people of course) are on the brink of starvation!

3. The Land Bank has been downgraded TWICE by Moodys! And it is on the edge of defaulting on R50 billion!

4. The property industry (which is extremely Liberal dominated), had crashed by 40% BEFORE the stupid dumb assed lockdown. So we’ll see how the property market reacts as the rest of the economic train hits.

5. One of our banks predicts 360,000 job losses. The Reserve bank had predicted 390,000 job losses. But these are at the bottom end of the scale. At the top end of the scale some are predicting 1 million job losses.

NB: Note, all these predictions are based on the lockdown ending at the end of April. They have not, to my knowledge, factored in, what the partial lockdowns will cause. I have looked at the proposals for partial lockdowns, and I think that another 80+ days of partial lockdowns will add to the problems.

6. Kenya, a former British colony that the British loved so much, which is in east Africa and which the British boasted about so much, is expecting a 50% economic contraction. Like all people, they are over populated. So a 50% crash will be something these people are not ready for.

And this is just the beginning…

jlamprecht