James Twidale4 minCURRENCY WAROur Rand is often spoken about in a very satirical fashion. There are jokes that go on about how weak the Rand is. For most South Africans the Rand is a good proxy for the “Wealth Effect.” I think the proxy is a good one. The “Wealth Effect” is when consumers or corporates spend more when they feel wealthier. The feeling of wealth is an interesting concept. For example when property values in general increase, most home owners feel wealthier because they assume they can sell
