Mike Schussler: The Crisis in SA May Trigger Action

The bad news is that we may be in a crisis.

The good news is this may be just what we need.

This was the message this morning of award-winning economist Mike Schussler of economists.co.za to the Northcliff Investor’s Club, at a breakfast session sponsored by PSG.

Mike suggested that with a cabinet war room having been set up to deal with the power problem, with joblessness increasing, with levels of unhappiness that lead people to block roads – the crisis is here.

Meanwhile, SA’s crucial water and electricity infrastructure “seems to be letting go.”

But it is not all negative.

Schussler suggested that in a crisis, things can get moving and we can unlock things.

“Crises are often needed,” he argued, looking back to the transition period from apartheid to democracy.

And he had one bright forecast – that better-controlled inflation might lead to an interest rate cut later this year.

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