style="text-align: justify;">By Cees Bruggemans, Chief Economist of FNB.
style="text-align: justify;">Congested highways into Cape Town, Johannesburg, Pretoria and Durban even after 09h00 on workdays, and again on the way out even before 16h00 tell a story about dismal productivity which makes a disappointing 2%-3% growth performance all but inevitable.
style="text-align: justify;">In addition, I remember a tale being told about another country where the authorities in charge elected to erect hand railings in the middle of the main corridors at all the main government buildings.
style="text-align: justify;">This was done so that those arriving late would not collide with those leaving early, all of it of course at all times happening in the greatest hurry.
style="text-align: justify;">A remark this morning suggested the country may be on its way to an experience equivalent to that faced by the UK in 1980, but in our instance without a Thatcher in sight.
style="text-align: justify;">These are sobering thoughts, for growth, employment, and social and political stability.
style="text-align: justify;">Source: Cees Bruggemans,
href="http://www.investmentpostcards.com/2010/08/26/south-african-productivity/www.fnb.co.za/economics">First National Bank, August 25, 2010.
href="http://www.feedburner.com/fb/a/emailverifySubmit?feedId=921608&loc=en_US" >Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.
Sign-Up for the Wall Street Sector Selector Free Newsletter!
Related Posts
- South African momentum loss
- New Emerging Markets ETF Option: High Income Low Beta ETF Debuts (HILO, DEM, EDIV, EEM, VWO)
- Five ETFs For Investors To Look Forward To (SCHZ, SKYY, SOIL, EIRL, INXX, BRAQ, ECON, CHIQ)
Sector Selector ETF Master Portfolio
