[Marxism] Fwd: South African Capitalism's Train-Smash | Opinion | teleSUR English

Louis Proyect lnp3 at panix.com
Sat Jan 2 06:02:35 MST 2016

By Patrick Bond.

The great sweeps of capital accumulation flowing above, through and from 
South Africa are leaving local businesses weaker than at any other time 
in memory. This may be just the medicine a mostly divided and yet often 
over-confident left opposition requires in 2016. Corporations are now at 
their most unpredictable and unpatriotic, with rapid expatriation of 
dwindling profits, the near death of several mega-mining firms that once 
ruled the roost, and a schizophrenic ruling class giddily backslapping 
some days, but inconsolably depressed most others.

The financial roller-coaster ride that nearly all the emerging markets 
barely survived in 2015 could become more exciting yet in 2016, here, 
especially if rising forces on the political left manage to derail the 
faultiest, most dangerous cars. For a change, these also appear to be 
the ones most ready to tip over in any case, carrying the chief 
executive officers most oriented to brutal labor exploitation, to mining 
and smelting, and to reaping profits from investments elsewhere in 
Africa. Those cars are also bearing the load of boorish, overweight 
politicians like President Jacob Zuma, whose punch-drunk behavior in the 
last month suggests he might well flip the whole train.


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