The rising unemployment rate just released by Statistics South Africa (SSA) paints a tragic picture of economic decline and foretells greater suffering for ordinary people who are trying to make a living in an unstable political environment.
In the third quarter of this year, the unemployment rate increased to 27,5%. It is clearly a product of the ANC that utterly failed the country and its people.
Not only did state capture, increasing corruption and irregular expenditure deplete the state coffers, but policy uncertainty concerning property rights and the negative impact of years of Affirmative Action (AA) and Black Economic Empowerment (BEE) that only benefit a select few have also badly wounded the economy. The ANC's developmental state failed dramatically.
The ANC has sucked the economy dry to such an extent that only a drastic change in the ANC's economic policy will be able to turn unemployment around. However, the ruling party has been so warped by internal factions and their capture-mentality that it is simply incapable of turning the economy around.
Ultimately, only a change in government to a coalition of level-headed and pragmatic opposition parties that want to protect the free market will save the day. In the meantime, the economic winter is getting colder and colder for the unemployed.
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