The outlook for the South African economy seems to be deteriorating by the day. The South African Reserve Bank may try to defend the rand a bit longer, but it is inevitable that interest rates should be reduced without much further delay. That is the appropriate monetary policy for an “R” outlook.
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| Current call: October 30, 2009 |
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| For those not familiar with John’s latest project, it is called "Conversations with John Mauldin". The most recent Conversation was with Gary Shilling and Donald Coxe. Previous Conversations included the views of Chris Whalen on the banking crisis, Lacy Hunt and Ed Easterling on the fundamentals of the economic crisis, and Nouriel Roubini. Audios and transcripts of the Conversations are being produced. Although an annual subscription for eight Conversations retail at $199, I have negotiated a special price of $149 (-25%) for Investment Postcards readers. To find out more, just click on the image above and enter code JM55 (at the end of the form), which will give you the discounted price. |
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