How to cope with a recession (knowing these 5 things may help)

By now it has fully sunk in – South Africa is in a recession.

The Money Show’s Bruce Whitfield interviewed Cannon Asset Managers CEO Dr Adrian Saville.

Saville discussed five things you need to know about coping with a recession:

  • “Technical recession” – is it merely jargon, or is it meaningful?

  • What happened to #CR17 and the promise of 3% growth?

  • We’re not alone (e.g. the “fragile five” and contagion among markets)

  • Can the rand save us?

  • How do we get out the hole?

For more detail; listen to the interview in the audio below (and scroll down for quotes from it).

Per capita growth is the real barometer… On a per person basis, we’ve been in recession for the better part of a decade.

Dr Adrian Saville, Cannon Asset Managers

Most of it is explained by external factors… the real killjoy here is Turkey and Argentina…

Dr Adrian Saville, Cannon Asset Managers

We have to look to foreigners to fund our current account deficit and our budget deficit… when it comes to an emerging market wobble, we’re one of the first to be caught in the storm.

Dr Adrian Saville, Cannon Asset Managers

The rand can act as a buffer in the near term, but we’re also a big importer. We might get an export boost, but we quickly get that replaced by import inflation…

Dr Adrian Saville, Cannon Asset Managers

South Africa has an investment drought. It’s been that way for the better part of a decade… Unlocking the investment vault… There is capacity to turn this recession into a recovery…

Dr Adrian Saville, Cannon Asset Managers

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