“When the final result is expected to be a compromise”, wrote John Maynard Keynes, “it is often prudent to start from an extreme position”. Which will be upsetting news to Floyd Shivambu, who genuinely thought he had a shot at being finance minister.

Of course, when Julius Malema staked out his extreme position back in April, saying he would consider working with the ANC if the EFF got the position of speaker and Shivambu got the PIN code to the granddaddy of all VBS banks, his party was still the third-largest in the country and the vanguard of the revolution...

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