Following up my post titled What a King Steer Burger and a Liter of Petrol Cost in 2002, note that the JSE All Share index is also up by 240% since the start of 2002. The index is up from 9,600 points to 33,600 today.

Can it be that all these assets/commodities are experiencing exactly the same, or at least, very similar supply/demand dynamics for their price to climb by the same percentage margin in the past decade?

Or is it that the value of the unit in which these are priced has come down?

Devaluing the Rand means anything that is priced in it, either goes up, or decreases by less than it otherwise would’ve. It really is that simple. But the fact that the price of just about everything in Rand terms is climbing, is irrefutable evidence that this is a Rand debasement story pushing prices higher.

It takes as many King Steer Burgers to buy you a unit of either petrol or the JSE All Share Index today as it did ten years ago. The ratio holds three ways. The only ratio that has changed is that of the Rand in terms of these three items.