Wednesday, December 11, 2013

Sad Days in Mandelaville

Writing for the London Evening Standard, R. W. Johnson surveys the state of play in South Africa. He finds the legacy of Mandela's beloved African National Congress badly deteriorated; tribalism, debt, and corruption characterize today's South Africa.

South Africa is becoming more like other sub-Saharan African countries, less like an outpost of European civilization. Statisticians call this phenomenon a "reversion to the mean."

Johnson sees South Africa's government debt rating headed for junk status. Expect to see a further exodus of South African whites as the death spiral accelerates.