Narcissist Malema continues fighting Economic Freedom with breathtaking ignorance (with video)
Pride comes before the fall. Reading from the SAPA report below that politician Julius Malema arrived four hours late for a fundraiser, brought back memories. Ahead of his famous crash in Polokwane, then President Thabo Mbeki did the same thing at an event I attended in Cape Town. Mbeki arrived hours late and then insisted he needed to have his dinner before making a predictably boring speech. By the time I got to do my recorded on-stage TV interview with Finance Minister Trevor Manuel it was almost midnight. Not sure anyone was at their sharpest then. Malema has just repeated the insult, because of his tardiness finishing an 80 minute address to potential donors around midnight. He's never been the sharpest tool in the woodwork classroom, but in this speech his take on economic reality was even more delusional than usual. Perhaps the late hour had something to do with it. Or maybe he took more chances than normal presuming all the reporters had left. The SAPA journalist hadn't and reported Malema's claims that State-owned enterprises are efficient, citing Transnet and Denel as examples (hardly, Jules, but since you opened the door, what about the SABC, SAA, Alexcor, Eskom, Sanral, Landbank, etc). Malema showed himself to be breathtakingly ignorant of financial services – nationalised banks, he says, will ensure they don't make profit so will keep interest rates low (erm, and who will give them money to lend?). Malema no longer wants to nationalise gold mines, but thinks platinum is fair game because those mines are "easy" to run. Plus all mines should give 60% ownership to the State – does he know that means they have to contribute 60% of the capex too? And of course, land should be "reclaimed" without compensation. By whom from whom? Do the Khoi San end up with the whole country? Malema is a deluded narcissist. His real problem is that he doesn't know what he doesn't know. A reminder of which was the classic Whackhead Simpson prank call (below), well worth another listen . – AH
From the SA Press Association:
He was four hours late, but EFF commander in chief Julius Malema was met with ululation and praise songs when he arrived at a fund-raising gala dinner in Nelspruit on Saturday night. He joked that he could not risking getting another speeding ticket after his arrest on Friday night, then gave an 80-minute speech that ended just before midnight, a Sapa correspondent reported.
Malema said the EFF was a government in waiting, and he outlined the party's policies on mines and banks, and land reform: "An entrepreneur must be able to do business no matter who is in government. A real businessman doesn't lose sleep over whether the [National Party], ANC or EFF is in power. You do not rely on tenders. Tenders are not sustainable business," he said.
Malema said Black Economic Empowerment encouraged the sale of black skin: "You sell your colour as if black is cheap and can be sold at any time."
He said BEE supported only individuals and their families, and not communities. "Rather give that money meant for BEE to the community, to build schools and clinics," he said.
He said land should be returned to communities free of charge, since it had been taken without payment. The act of buying back the land was the same as buying stolen goods. Land beneficiaries should also not be pressured into doing anything with their land, he said: "You don't have to explain anything to anybody. It's your land. What you do with your land is nobody's business."
He said fears about the nationalisation of the mines were unfounded as the government had proved that it could manage businesses, citing Transnet and Denel as examples. He suggested nationalising only easy, profitable and uncomplicated mines, like platinum, which was found near the surface of the ground.
"We only want to nationalise profitable national resources. Not gold. Gold is very expensive to mine," he said.
He said the government needed to keep all mineral rights, and that the mines should give 60 percent of their ownership to the state. Only this would generate enough money to provide free education, healthcare and sanitation. Nationalised banks would run themselves, and without focusing on maximising profits, would keep their interest rates low so that all South Africans could afford a house and car.
Malema said local industry be protected so it was not undermined by cheap imports, and that the state should help people acquire basic skills. He accused President Jacob Zuma and his government of not being accountable to the people. – SAPA