Denial as US markets suffer massive drop

[Daily Maverick] FIRST THING with JOHN STUPART Tuesday, 6 February 2018 “Fantasy is escapist, and that is its glory. If a soldier is imprisoned by the enemy, don't we consider it his duty to escape? If we value the freedom of mind and soul, if we're partisans of liberty, then it's our plain duty to escape, and to take as many people with us as we can!” JRR Tolkien S12J investing provides tax breaks for venture capital investors. [Click here]( to find out more about our property-backed hospitality fund. STORY OF THE DAY [SONA2018: Emergency drill and threats by opposition as ANC scurries to negotiate Zuma’s exit]( By MARIANNE MERTEN An emergency evacuation drill in the National Assembly. Possible legal action by at least two opposition parties, the EFF and the United Democratic Movement, to push for a postponement of Thursday’s State of the Nation Address – if President Jacob Zuma is at the podium. And as firm a word as any from the EFF on Monday that “there will be no SONA” without its no confidence motion happening first. All this as the ANC is chewing over Zuma’s future as South Africa’s president in what the governing party calls the “transition”, with a special urgent meeting of its highest decision-making body between national conferences, the National Executive Committee (NEC), on Wednesday. WHILE YOU WERE SLEEPING [US markets plummet]( Wall Street experienced a brutal Monday's trading this week. With a 4.6 drop in value among the 30 largest American companies, all eyes have been on President Donald Trump, who naturally rebuffed any claim of responsibility this time. Concern over inflated Treasury bond yields and concern over a potential Fed interest rate hike propelled the Dow into its downward spiral. The president, it seems, is only responsible when the markets are booming. [Maldives enters state of emergency]( Maldives President Abdulla Yameen has declared a 15-day state of emergency. The declaration came on the back of military intervention against the country's highest court and a former president. President Yameen's refusal to release nine political dissidents has squared him off against the Supreme Court. The presidential logic, then, is to declare an emergency and send in the soldiers. It's a good thing the country is not particularly reliant on a tourism industry. [SpaceX to launch world's most powerful rocket]( If all things are clear and green-lit, SpaceX will be launching its Falcon Heavy today. If successful, the rocket will become the world's most powerful in operation. Scheduled for this evening, South African time, the rocket is not carrying anything valuable. Just a mannequin in a snazzy space suit strapped into one of Elon Musk's Teslas. [Frasier 'dad' dies at 77]( John Mahoney, the Jack Russell owning ex-cop who was Frasier's father in the hit sitcom has died. Mahoney was propelled to fame playing Martin Crane for 11 years. Mahoney began his acting career at the age of 40 at the urging of John Malkovich and Gary Sinise, and has been nominated for multiple Emmys and Golden Globes. — S12J investing provides tax breaks for venture capital investors. [Click here]( to find out more about our property-backed hospitality fund. PICTURE OF THE DAY BY EPA-EFE/JUSTIN LANE An image of Prince is displayed during the half-time of Super Bowl 52 at the US Bank Stadium in Minneapolis, Minnesota, US, 4 February 2018. The NFC Champions Philadelphia Eagles played the AFC Champions New England Patriots in the National Football League's annual championship game. IN NUMBERS 51 The number of times John Williams has been nominated for an Oscar. FACTS OF THE DAY Today in 2017 Springbok legend Joost van der Westhuizen passed away. Compared to gold ore, there is more gold on a per weight basis in your smartphone. S12J investing provides tax breaks for venture capital investors. [Click here]( to find out more about our property-backed hospitality fund. FEATURED ARTICLES [Analysis: ANC’s days of confusion, tension and desperation]( [Analysis: ANC’s days of confusion, tension and desperation]( BY Stephen Grootes [SassaGate: Bathabile Dlamini attacks officials on Twitter while experts suggest Sassa be barred from paying grants]( [SassaGate: Bathabile Dlamini attacks officials on Twitter while experts suggest Sassa be barred from paying grants]( BY Marianne Thamm [People’s Tribunal on Economic Crime: Former French presidents Sarkozy and Chirac implicated in evidence]( [People’s Tribunal on Economic Crime: Former French presidents Sarkozy and Chirac implicated in evidence]( BY Marelise van der Merwe [Notes from the House: Don’t forget the impeachment option]( [Notes from the House: Don’t forget the impeachment option]( BY Mike Law [Mining Indaba: Zwane puts brave face on ongoing conflict]( [Mining Indaba: Zwane puts brave face on ongoing conflict]( BY Rebecca Davis [Op-ed: ‘Two centres of power’ within the ANC? How does #Ramaphosa resolve this?]( [Op-ed: ‘Two centres of power’ within the ANC? How does #Ramaphosa resolve this?]( BY Raymond Suttner [Eskom’s other disaster: How 50 years of bad decisions led to the Mpumalanga Highveld’s bad air]( [Eskom’s other disaster: How 50 years of bad decisions led to the Mpumalanga Highveld’s bad air]( BY Victor Munnik [#CapeWaterGate: City warns of health risks as Day Zero is delayed a little further]( [#CapeWaterGate: City warns of health risks as Day Zero is delayed a little further]( BY Suné Payne [Theatre Review: The Color Purple – singing with one collective voice]( [Theatre Review: The Color Purple – singing with one collective voice]( BY Lesley Stones OPINIONISTAS [Sleeping among Giants]( [Sleeping among Giants]( A column by Mark Heywood [The privilege of being heard]( [The privilege of being heard]( A column by Thania Gopal [Dear DA: Day Zero is election day 2019, not May 2018]( [Dear DA: Day Zero is election day 2019, not May 2018]( A column by Ian von Memerty [A few questions for Thuli Madonsela]( [A few questions for Thuli Madonsela]( A column by Paul Hoffman [Africa’s Next Round: A Poisoned Chalice, a Hobson’s Choice and a Zero Sum Game]( [Africa’s Next Round: A Poisoned Chalice, a Hobson’s Choice and a Zero Sum Game]( A column by J Brooks Spector — Weather BFN: min: 19° max 34°, cloudy CPT: min: 18° max: 24°, sunny DBN: min: 22° max: 29°, cloudy JHB: min: 16° max: 27°, cloudy KIM: min: 20° max: 36°, cloudy MHK: min: 18° max: 32°, cloudy NLP: min: 18° max: 34°, cloudy PE: min: 18° max: 32°, cloudy PMB: min: 18° max: 36°, cloudy PTA: min: 19° max: 31°, cloudy Financial Data Oil=$67.43 Gold=$1,334.54 Platinum=$990.10 R/$=12.05 R/€=14.95 R/£=16.88 BTC/$=6,865 JSE All Share=57,113.74 DJIA=24,345.75 FTSE 100=7,334.98 [FORWARD THIS EMAIL TO A FRIEND]( Copyright © 2017 Daily Maverick, All rights reserved. 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