[According to Mbekinomics, we are experiencing 6% GDP growth rate – which I frankly find bizarre. When I first arrived in S.Africa, Gold was up near $800 per ounce and the country WAS BOOMING… and let me tell you, it was VERY DIFFERENT to this current “boom”. I’m not even sure if it even reached 6% back then… possibly less… but the country had a whole different look and feel. You could hear the excitement, and you could see the boom. People were showing off their wealth, and it was easy to see these were good times.

The current “boom” is completely different. In fact, its a boom… in the Government’s eyes… pretty much. I did mention a time back that the current “boom theory” is based on a single database which Govt gave out. It is not based on ALL the economic indicators, and even some black economists questioned whether this was a boom at all.

So below, even on our news, they’re questioning just how much of a boom it is. 6% “growth” (all ANC theory and hot air I think)… but NO NEW JOBS…

Yes, there is an element of optimism that wasn’t there before. But its a “mini boom” let’s say, in a socialist country, where the laws and the whole mindset prevents a true BOOM…

And look ma… NO JOBS… Perhaps… people are trying to wangle their way around those Affirmative Action/Racial Quota ANC laws hey? (I wouldn’t be surprised). So… no growth in employment…

So, according to the Voice of the ANC (SABC), the number of new jobs is barely more than the number of new job seekers… therefore unemployment remains more or less the same… (The reality may be even more dreary!)

Car sales are up (probably all the Black Affirmative Action crowd buying car on credit)… and again, the question: “But where are the jobs?”

This is the breakdown of the new jobs.