http://saulk.co.za/2008/12/14/wheres-the-recession/?source=rss Mon, 21 Feb 2011 10:00:19 +0000 http://wordpress.org/?v=2.8.4 hourly 1 http://saulk.co.za/2008/12/14/wheres-the-recession/comment-page-1/#comment-1509 graeme Mon, 15 Dec 2008 12:17:33 +0000 http://saulk.co.za/?p=344#comment-1509 The classic South African business culture is 'who cares about the little guy' this can been seen in the context of our history, but is by no means limited to SA. The retailers see the consumer as a sap who will just keep getting credit to consume so why should they not just pump their prices and pimp their rides. As the credit crunch kicks in and the National Credit Act slows credit consumption, they will also feel the pinch and might even come to appreciate who pays their bonuses...but I don't have high hopes! The classic South African business culture is ‘who cares about the little guy’ this can been seen in the context of our history, but is by no means limited to SA. The retailers see the consumer as a sap who will just keep getting credit to consume so why should they not just pump their prices and pimp their rides. As the credit crunch kicks in and the National Credit Act slows credit consumption, they will also feel the pinch and might even come to appreciate who pays their bonuses…but I don’t have high hopes!

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