quote:

Originally posted by billrquimby:
More surprisingly, the euro and the dollar are at near parity with one euro costing us only $1.074 U.S.

Bill Quimby

quote:

Originally posted by Barry Groulx:
The Rand was 10:1 back in 2002, and bounced back. Possibly largely because of the World Cup development. I fail to see how one of the world's largest gold, diamond and platinum-producing nations, with nuclear capability and one of the world's most strategic naval routes can implode its economy so efficiently. Well, actually I don't...

quote:

I have been told that there are a two prices in Africa. One for Americans and one for the rest.

~Ann

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Originally posted by accipiter1:
The USD is very strong right now - the same applies to hunts in Canada and Australia.

Hell, it may get to 15 Rand by the show season.

quote:

Originally posted by Nakihunter:
Last year I cancelled my buffalo hunt. But I did a bird hunt and also tried to get a wart hog. Talking to game farm owner - he said he had a 57" Kudu. I said that they were getting expensive and some outfitters were asking for 1.5k. He replied that it was more like 9k!

I was gob smacked. But then the farm owner and the guide were talking in Afrikaans & I understood 2 words - Rand & Dollar! the penny dropped for me and the normal price for a 57" kudu was U$800 or so & not $1200 or $1500!

quote:

Originally posted by Opus1:
Oddly enough gas prices are up only by R$100 to R$200 over the past few months. Average gas prices are R$1,200 per liter for 93, about what I was paying the first part of the year. I really can tell no difference in food prices.

All I know is my dollar goes a lot further today than it did the beginning of the year.

Now if Janet actually does raise the basis points in December as she has alluded to, then the dollar will continue to strengthen against the Rand. Happy days.

quote:

I respectfully suggest you work on your Afrikaans....

Jan Dumon

quote:

Originally posted by Jan Dumon:

quote:

Originally posted by Nakihunter:
Last year I cancelled my buffalo hunt. But I did a bird hunt and also tried to get a wart hog. Talking to game farm owner - he said he had a 57" Kudu. I said that they were getting expensive and some outfitters were asking for 1.5k. He replied that it was more like 9k!

I was gob smacked. But then the farm owner and the guide were talking in Afrikaans & I understood 2 words - Rand & Dollar! the penny dropped for me and the normal price for a 57" kudu was U$800 or so & not $1200 or $1500!

$ 800 57 inch Kudu

I respectfully suggest you work on your Afrikaans....

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Originally posted by accipiter1:
The USD is very strong right now - the same applies to hunts in Canada and Australia.

Hell, it may get to 15 Rand by the show season.

quote:

Originally posted by GunsCore:
Today it is 15.21 rand to dollar as quoted by www.xe.com.

Zuma just fired the finance minister and apparently the markets don't like it.

I hate to say it, but things are going to get much worse for all my RSA friends.

quote:

Originally posted by Victor Watson:
The talk is R25/$ by June next year.

Victor

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Originally posted by ChrisTroskie:

quote:

Originally posted by Victor Watson:
The talk is R25/$ by June next year.

Victor

Well, that's fantastic news! So I guess we can all retire after next season.

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Originally posted by Bill Collector:
Someone help me here. If the outfitters get paid in dollars, don't they benefit from the higher valuation of the dollar just like we are "supposed" to? It would seem to me that the real killer here for them would be inflation. Anyone have an idea what inflation is running in RSA these days?

quote:

Originally posted by Victor Watson:

quote:

Originally posted by Bill Collector:
Someone help me here. If the outfitters get paid in dollars, don't they benefit from the higher valuation of the dollar just like we are "supposed" to? It would seem to me that the real killer here for them would be inflation. Anyone have an idea what inflation is running in RSA these days?

CPIX inflation is at around 5 percent. That's the average basket of goods that an average individual consumes in a year. Problem is that doesn't accurately define the basket of goods an outfitter or landowner consumes in a year. Fuel, labour, interest expense, electricity, vehicle purchases etc are all of a larger percentage in an outfitters basket. Inflation has been running around 12 percent in the agricultural related sector for the last 10 years. Our economy is taking a bath. I was in Zimbabwe last week and after speaking to a few locals it was difficult to deny the parallels. I still have hope though.

quote:

Originally posted by GunsCore:

quote:

Originally posted by Victor Watson:

quote:

Originally posted by Bill Collector:
Someone help me here. If the outfitters get paid in dollars, don't they benefit from the higher valuation of the dollar just like we are "supposed" to? It would seem to me that the real killer here for them would be inflation. Anyone have an idea what inflation is running in RSA these days?

CPIX inflation is at around 5 percent. That's the average basket of goods that an average individual consumes in a year. Problem is that doesn't accurately define the basket of goods an outfitter or landowner consumes in a year. Fuel, labour, interest expense, electricity, vehicle purchases etc are all of a larger percentage in an outfitters basket. Inflation has been running around 12 percent in the agricultural related sector for the last 10 years. Our economy is taking a bath. I was in Zimbabwe last week and after speaking to a few locals it was difficult to deny the parallels. I still have hope though.

15.82 today and I hope I am not starting to sound like a vulture. I want all my RSA friends to be successful, but as Victor mentions above, the parallels to Zimbabwe are eerily apparent. Its hard to look away from a slow motion train wreck.

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Originally posted by Victor Watson:
Our only hope is that Zuma gets replaced by Ramaphosa, a smart and astute capitalist,

Victor

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Originally posted by Fjold:
Inflation's running 12% and the US dollar is up 38% year to date.

Sounds like a good deal.

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Originally posted by shakari:

quote:

Originally posted by Victor Watson:
Our only hope is that Zuma gets replaced by Ramaphosa, a smart and astute capitalist,

Victor

Ramaphosa will surely by better than Zuma but he has a chequered past & sure as hell won't be an instant cure all for South Africa's problems........ especially with Madman Malema lurking in the background just waiting & itching to become SA's Mugabe.

quote:

Everyone in the ANC cabinet has a chequered past. I like the fact that he believes in capitalism and has strong interests in game and agriculture. No doubt that there's no fast cure to our problems, everyone who lives here fully understands that. South Africans are positive, enterprising people and the situation can be turned around in the long term. But the turning point needs to come soon...

quote:

Originally posted by Karoo:

quote:

Everyone in the ANC cabinet has a chequered past. I like the fact that he believes in capitalism and has strong interests in game and agriculture. No doubt that there's no fast cure to our problems, everyone who lives here fully understands that. South Africans are positive, enterprising people and the situation can be turned around in the long term. But the turning point needs to come soon...

"

Well said. Politicians from all sides have chequered pasts. We are going through a blip but it is heartening to see the huge spectrum of people condemning the president.
There are too many sensible and capable people in SA for it to turn into a Zimbabwe, in my opinion.

quote:

Originally posted by Fjold:
Inflation's running 12% and the US dollar is up 38% year to date.

Sounds like a good deal.

quote:

Originally posted by GunsCore:

quote:

Originally posted by Karoo:

quote:

Everyone in the ANC cabinet has a chequered past. I like the fact that he believes in capitalism and has strong interests in game and agriculture. No doubt that there's no fast cure to our problems, everyone who lives here fully understands that. South Africans are positive, enterprising people and the situation can be turned around in the long term. But the turning point needs to come soon...

"

Well said. Politicians from all sides have chequered pasts. We are going through a blip but it is heartening to see the huge spectrum of people condemning the president.
There are too many sensible and capable people in SA for it to turn into a Zimbabwe, in my opinion.

But how many are leaving? I have four former South Africans and one Zimbo as tax clients in Southern California. You have quite a brain drain going on. Sensible and dissatisfied people vote with their feet. You still have a lot of talent in South Africa, but I would think about coming to the USA. We could use you here.