Quote of the week

Johnson used to at least be able to give a passable imitation of being Boris Johnson. Now he can’t even manage that. The gags and the mannerisms that used to be his calling card, now just fall flat. A one-trick pony whose one trick everyone knows. The surface has been stripped bare to reveal a core of molten need. Someone who craves attention and fears he wouldn’t exist without it. Someone whose narcissism leaves him devoid of empathy. Incapable of either giving or receiving love.

John Crace
The Guardian
5 January 2012

My point is that sovereignty itself – and certainly who the ANC elects as leaders and what the party decides vis-a-vis nationalisation of mines and expropriation of land without compensation – will have much less force and effect in determining South Africa’s political and economic future that we might imagine. Economic policy, laws governing ownership and general “good behaviour” around fiscal and monetary policy are rigidly constrained both by the discipline of global capital markets and by a myriad bilateral and multilateral agreements between countries and blocks of countries. As I said to clients earlier this week (concerning the ANC centenary): “Obviously we must continue to watch the ANC as carefully as always in 2012 – but this small open country and economy will continue to be tossed on the currents of the global economy and the various geopolitical, technological, cultural and environmental forces that shape the world. We might miss a trick or two if we lull ourselves into believing the myth that the ANC is a kind of metaphor for the country as a whole. – Nic Borain on his Blog

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