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Sunday, 28 April 2013

Black Middle Class Packs A Punch

Well, here is my good freedom weekend news - apparently the black middle class in SA has outspent teh white middle class by R80BILLION. We have repeatedly been told that the economy of SA is in the hands of the whites - and therefore it is our fault that there is rampant poverty and corruption. This is also the reason touted for the increase in the rigidity of BEE and AA regulations.

But now we have credible news that the black MIDDLE class alone numbers 4,2 million - that is a middle class larger than the ENTIRE white population of SA. Now here is the kicker - if the black middle class is outspending teh white middle class and that entire population group is larger than our entire population, how the hell can whites still control the economy? How would it be possible for us to be holding back "economic freedom" from the masses?

And this is where I now expect an update from good old spin doctor Mac in which he will explain to us that even though black people in the middle class outnumber all of white people in the country and that they spend R80bn more, it is because the farm lands are still mostly owned by whites and this is the reason that the black masses are still poor - or we'll hear just how wrong those figures are in some way or another.

It great news that the educated black middle class is growing - this may just see a decline in the power of the ANC after the 2014 elections (I can hope right?) - maybe the clever blacks can help us scale back the ANC's race to ruin a little and in so doing show the masses just how they are being screwed over on a daily basis.

Great news is this: The arguments for AA, BEE and EE policies have just gone out the window! When you have a black middle class that outnumbers the white population and who can now afford t educate their children and contribute meaningfully to the economy why then do we need these policies? Is it not time to return to the idea of merit and therefore create competition which will further stimulate growth and competitiveness in all sectors? Then we can a massive increase in the educated middle class - and the fall of the ANC? (dreaming but let me dream). Surely those educated few will be able to see through the bullshit that is pushed down their throats at OBE schools? It could be the start of a lovely thing...

Black middle class packs a punch

Apr 28 2013 17:01 

Cape Town - The spending power of South Africa's black middle class has surpassed that of their white counterparts by R80bn, according to the UCT Unilever Institute of Strategic Marketing.

The rising black middle class has about R400bn to spend compared to the R320bn from the country's white middle class, according to the institute, who will be releasing its latest study.

"We could never have predicted that black middle class spending would have skyrocketed to a staggering R420 billion per annum – substantially outstripping white middle class spending power," Unilever stated on its website.

It added that the Black Middle Class doubled in size to 4.2 million from 1.7 million 2003. 

The adult population of the white middle class has grown to to 3 million last year from 2.8 million in 2004, reported Business Day.

The institute noted that the study, entitled 4 Million and Rising, offers interesting insights and exposes a vastly transformed consumer segment. 

“There’s a huge commitment to go to university. This group sees education as the stepping stone to everything,” Unilever Institute director, Professor John Simpson was quoted by the newspaper.
- Fin24

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