ANC Youth League

Economists lash out at Youth League’s Maine over ‘collapsing the Rand’ comments

Earlier this week ANCYL president Collen Maine said the league would see the Rand collapse, and when it rises again they would be in control of the economy.

ANC Youth League

So the ‘president’ — a relative term really, as the process of electing ANC officials is everything but democratic — of the ruling party’s political playpen earlier this week told supporters that the Youth League will go as far as collapsing the rand in order to take control of the economy.

Read:“We want the rand to fall, we need those economic turntables.”ANC Youth League

Maine was speaking at an event in Durban, alongside Jacob Zuma, where the two took turns lashing out at the current economic system — the same system that’s made them and their families millionaires while the most vulnerable South Africans suffer more by the day –.

Now, we’re no economic specialists, but we do come pre-programmed with a f*ckload of common sense, enough to know that a weak Rand will almost certainly harm the most vulnerable South Africans the most, leaving Maine and his ilk safe and sound.

As you would expect, economists didn’t quite see things Maine and the and the Youth League’s way, and warned against making uninformed, reckless comments. Economist Mike Schussler told eNCA that basic items like maize, milk and paraffin will cost more, hitting the poorest the hardest.

“All prices will go up paraffin, petrol, milk, maize and we are looking at everybody in South Africa paying more if the Rand falls,” Schussler said.

“If the currency falls we get poor in relative terms to other countries as well and we fall off the investment radar and it becomes more difficult to create jobs.”