Letter: Interest rate hike is crippling for us

While the rich are coining it, with their investments multiplying, middle income people cannot manage any more and are resorting to debt relief to get by, and in the process are becoming poorer and part of the “have nots”, says the writer.

While the rich are coining it, with their investments multiplying, middle income people cannot manage any more and are resorting to debt relief to get by, and in the process are becoming poorer and part of the “have nots”, says the writer.

Published May 11, 2023

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By Charlotte Weber

Cape Town - Why is the interest rate being hiked?

The man in the street now has to fork out more money that he does not have.

While the rich are coining it, with their investments multiplying, middle income people cannot manage any more and are resorting to debt relief to get by, and in the process are becoming poorer and part of the “have nots”.

Soon the government will have the entire country on the Sassa grants beneficiary list. Those who could previously assist by donating to the less fortunate are now part of the less fortunate and joining others in the queue for food.

Stop wasting money by printing new notes and coins that will never be in circulation because those who could afford to buy don’t have money to purchase goods any more.

Give us ordinary guys a break.

Already we have to pay for electricity services that we are only sporadically given, and have to purchase additional resources to manage our daily lives just to get by.

Let those who stole the money buy every household a “power station”, then they’ll have their own power source that they can then manage, albeit a small one of about R10 000 per household.

Cape Times

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