What's in it for me?

by Precious Mona

The image to the right is the Chinese symbol for crisis, which means both danger and opportunity.

Every year in February, South Africans look forward to the budget speech by the ever popular Finance Minister, Trevor Manuel.

Not even the state of the nation address from our president draws as much attention.

The young and the old, the rich and the poor, the employed and the unemployed all gather to listen to this annual presentation, which will affect our lives for 12 months.

I had the pleasure of attending the 2009 Budget Speech Highlights discussion courtesy of RAiN, held at the Venue in Melrose Arch the night of the budget speech.

It was new territory for me, so I was a bit overwhelmed.

Dr Robin Beale from RAiN delivered his presentation with such flair and confidence, like he was born to do it. His talk was short and precise, which calmed my anxiety.

He presented highlights from the budget speech, in a not-so-rocket-science-like manner. He left the audience yearning for more by being brief and to the point.

Mr Perry E. Ball, the guest speaker, was such a polite and down to earth gentleman. His presentation was based on the phrase used mostly by Economists that 'when America sneezes, the whole world catches the flu.'

He described how The United States caught this contagious flu and how long the recovery period will be. In the meantime, millions will loose their jobs and thousands will have their homes and cars repossessed. This is what they mean by the Great Depression.

What have I gained from all of this?

Credit crisis, global recession, credit crunch, financial meltdown: this is the jargon used mostly everyday in the news. This terminology does have an effect on my life, whether I am financial person or not.

Just like the Great Depression that started on the Black Tuesday in 1929, this too shall pass.