MAESTRO's Posted October 15, 2008 Posted October 15, 2008 I see the Rand is in FREEFALL again, this time like there is no tomorrow. What do the experts say?
dirtrider Posted October 15, 2008 Posted October 15, 2008 stock up on petrol... maybe you should first look at crude oil before running out and buying out Sasol . I would say rather buy nothing for now .
HeLP Posted October 15, 2008 Posted October 15, 2008 Oh boy, I am leaving to go to london on the week end, maybe I should by the pounds now, are there any economists out there, what you recon
Cois Posted October 15, 2008 Posted October 15, 2008 maybe you should first look at crude oil before running out and buying out Sasol . I would say rather buy nothing for now . Heard on the news that if the rand continues to weaken like it is doing now we could expect a rise in the petrol price. That would result in a rise in inflation again and a rise (thanks to a freaken person who doesn't understand economics) in interest rates that is going to rise the spending rate again cause people like you and me will have to fork out more money to try and reduce out debt... (only my views so sorry if I am stepping on some toes here)
javadude Posted October 16, 2008 Posted October 16, 2008 I'm glad i imported my bike parts when i did. Just one month ago the rand was R14 to the pound, now its R18. We're in for a rough ride.
Willehond Posted October 16, 2008 Posted October 16, 2008 So is now a good time to transfer some money to pay my SA debts or should I wait a bit more?
javadude Posted October 16, 2008 Posted October 16, 2008 So is now a good time to transfer some money to pay my SA debts or should I wait a bit more?Just stop eating frittes for a month and you should save enough to pay off your SA bond.
Joe Low Posted October 16, 2008 Posted October 16, 2008 I see the Rand is in FREEFALL again' date=' this time like there is no tomorrow. What do the experts say?[/quote'] If there are any experts, they are too busy making money to be talking. If someone is talking, then they are not an expert, unless they told you yesterday the Rand was going to do this today. Today, everyone will give words of wisdom as to what has happened and why but what use is history in a situation like this? IMO (& here I show I'm not an expert) foreign money invested in SA for better interest rates has been withdrawn weakening the currency which leads to more money being withdrawn. It happened 7(?) yrs ago and the Rand went to 12 or 13 to the US$. People thought it was the end of the currency but it came back as low as 5 not so long ago & has sat around 7 for a number of yrs. So, really, no-one knows.* (*not the Hubber)
Willehond Posted October 16, 2008 Posted October 16, 2008 So is now a good time to transfer some money to pay my SA debts or should I wait a bit more?Just stop eating frittes for a month and you should save enough to pay off your SA bond. Yes, but according to the exchange rate I now pay more than R20 a litre for my petrol! A beer is going to bankrupt me now
javadude Posted October 16, 2008 Posted October 16, 2008 The only crap thing is that prices go up in relation to the exchange rate and then when the rand improves we get told that prices can't come down because deflation is actually worse for the economy than inflation because of negative growth and bla bla. I'm getting sick of so called friggin experts because we wouldn't be in this situation if they knew what they were talking about in the first place. The economy revolves around greed, and not expert opinion.
Sean Badenhorst Posted October 16, 2008 Posted October 16, 2008 I see the Rand is in FREEFALL again' date=' this time like there is no tomorrow. What do the experts say?[/quote'] There is no tomorrow... Lot's of talk about it though.
VincentBikes Posted October 16, 2008 Posted October 16, 2008 I see the Rand is in FREEFALL again' date=' this time like there is no tomorrow. What do the experts say?[/quote'] Rand what rand? We are converting to zim dollar......
SwissVan Posted October 16, 2008 Posted October 16, 2008 So is now a good time to transfer some money to pay my SA debts or should I wait a bit more? Hey DONT tease the locals..... Looking good for my November holidays my accomodation is getting cheaper by the day.... Hopefully the ROE will bring in more tourists ei?
Bateleur1 Posted October 16, 2008 Posted October 16, 2008 I see the Rand is in FREEFALL again' date=' this time like there is no tomorrow. What do the experts say?[/quote']Rand what rand? We are converting to zim dollar...... At the rate it is diving now, we should change the name of the Rand to Ama Glug Glug.
Willehond Posted October 16, 2008 Posted October 16, 2008 So is now a good time to transfer some money to pay my SA debts or should I wait a bit more? Hey DONT tease the locals..... Looking good for my November holidays my accomodation is getting cheaper by the day.... Hopefully the ROE will bring in more tourists ei? Sorry, me bad Unfortunately the credit crises looks like it is putting the squeeze on personal income and with flights to SA not exactly being cheap, I don't see it booming unless fligt costs go way down. The travel industry is taking serious strain with people deciding to holiday closer to home,so it looks like bleak times ahead for eveyone everywhere (Europe, SA, America etc.)
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