Page 88 - Monocle Quarterly Journal Vol 1 Issue 1 Q4

BANKING
“Money has simply gone to what it knows best, its past successes.”
Little real equity investment has risked itself on our future. e distortion between the real economy and the markets – the structures through which the real economy is meant to be funded – is astonishing. In nominal terms, the gures are even more distressing: the value of unencumbered equity invested in the real economy in South Africa is strikingly low – something like a sixth to an eighth of the same ratio in the US.
Money has simply gone to what it knows best, its past successes. ese are successes that have repeated themselves on a worldwide stage, but somehow only in industries that distract one from the rigours of reality.
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