South Africa Vanishes With Its Gold?

from The Daily Bell:
Last week’s shocking announcement by Statistics South Africa that the nation’s gold production had hit a 90-year low was met with token media coverage and surprisingly, hardly any outrage from labour unions, civil society or indeed the country’s population at large … The legacy of hatred and bitterness incited by the Anglo-Boer war and its cruel aftermath stimulated a toxic and destructive Afrikaner nationalism that eventually took hold of the country, with repercussions lasting almost a century. Throughout this period, gold provided an underpin to the nation’s economy. It contributed handsomely to tax coffers and generated valuable foreign revenue. What followed was spectacular wealth for a few and employment for thousands of desperate, marginalised people under despicable conditions at a very low wage. – Daily Maverick
Dominant Social Theme: Everything is still okay. Once apartheid died, the future became bright in both Zimbabwe and South Africa.
Free-Market Analysis: We never believed that either Zimbabwe or South Africa would work out as countries with a shared black and white heritage. Our fears have already been borne out in Zimbabwe and soon, we fear, the same sort of destruction will be visited on South Africa.
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