[Picture: CGIS]
The worker strikes, which often frequent this time of year, have produced horrific consequences not normally associated with labour disputes, culminating in the deaths of more than 45 of our citizens. To make matters worse the incidents have been exploited by various factions in the run up to the ANC’s end of year “party” where the central theme seems obsessed with leadership positions and jostling for personal power. All this while the country faces monumental challenges in education, health and security. It is no small wonder that the country’s heart beat suffers palpitations affecting the markets, currencies and our confidence in the future. We can only hope that the clear thinking in the National Planning Commission’s proposals, put together by a team led by Trevor Manuel and presented to Parliament in August, will not be lost in the milieu. We desperately need responsible leadership and above all corrective action, starting now, if the country is to enjoy the wonderful future it so richly deserves.
Global challenges …
[Picture: Lilith News – Canada]
We have presented these challenges in past newsletters and while some positive progress has been made, uncertainties about the sustainability of the European Union and its currency still serve to boost volatility in the markets and currencies. The US Presidential Election seems poised to topple either way – Democrat or Republican. China grapples with the slowing down of its economy – if 7,7% GDP can be regarded as slow given its enormous population and that this translates in monetary terms to $7,298,096,609,544 !. Cast your mind back a few years when news coverage featured a traffic jam in China which stretched for over a 100 klms and lasted more than 11 days on a twenty lane highway! Some folk had been stuck in the jam for 6 days. Their major complaint? Villagers peddling noodles, boxed lunches and snacks at extortionist prices. Inherent human capitalism thrives even in a communist country!
Perspective is paramount …
In a recent newsletter, Atlantic Asset Management covered the topic of UFO’s in the 1960’s and 1970’s along with the consternation caused by “almost daily reports of unexplained flying objects, as well as of mysterious disappearances in the so-called Bermuda Triangle”. In the years that followed most of these myths were dispelled by solid research and careful analysis. Atlantic coined the phrase UFT’s meaning “Unattainable Financial Targets” which seem to abound these days – whether at personal, national or global levels.
With all the uncertainties we face it is essential that we remind ourselves to focus on perspective and resist the temptation to respond to events with fear and trepidation. Despite the buffering we get from local and international events – the bottom line is that we can control our own destinies and so we should. It begins with our own needs and extends to the needs of those around us.
Financial fitness …
While we don’t run a gymnasium at Finlaw [not yet anyway] – we do get a real kick out of helping our clients to achieve their financial planning goals. Much like Personal Trainers in the local gym we are here to help you to improve your financial health. They need your participation – and so do we.
If you have not recently taken time out to attend to your financial planning needs, we invite you to do so now. We invest a great deal of time in researching and monitoring financial products but in order to tailor solutions to your needs we must match your changing circumstances to the plans you have in place. Of course, if you don’t have a financial plan or investment objective in place you are far more likely to respond to rumours, misconceptions and fears. Lean on us to guide you in formulating an Attainable Financial Target.
Cut through the clouds of uncertainty and focus on what’s important to you, your personal future and the needs of those you care for. As they say in the well-worn phrase … “It begins with YOU”.
House news …
With Rowan and I successfully through our Regulatory Exams [for now – more to come next year], Candice and Stacey are in the midst of their studies and examination season. We wish them success as they strive to exercise their brains and extend their knowledge.
Kind regards
John Wallace – August 2012.