Nobody pays attention. How could anyone pay attention? Everyone is holding the other by the throat.The gold price has increased by almost 25% over the past nine months, and palladium has almost doubled in price. There is a resources boom, yet unemployment is rising.There are three competing theories that have been brought forward. The first is the false dawn theory, which suggests that the new dawn is, in effect, a false promise that was coined to mislead.
The false dawn theory suggests that President Cyril Ramaphosa is a cunning and sinister politician. Knowing the character of the man, this theory must be discarded. Admittedly, it is a value judgement, based more on emotion than on facts, that he is the saviour we need on this side of the grave. The fight-back theory is bad because it gives an impression that Ramaphosa is a political novice who cannot hold his own in the heat of Luthuli House.
Imagine a photographer who has lugged all her heavy equipment to the top of the mountain so that she can get the best photograph when dawn breaks. The sun rises as always, but there is no photo to capture. So she descends the mountain with a heavy heart and heavy equipment. The second problem is that South African media have become too parochial and oblivious to the big events that shape the world economy. The gold price has gone up because the world is in turmoil, yet the South African media are not reporting enough on that, thus obscuring the global view of opportunity for businesspeople.
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