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#1 User is offline   MTP Reggie 

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Posted 11 September 2018 - 12:58 PM

South Africa in Recession After Land Threat: 'Shocking Drop in Agriculture'
4 Sep 2018
By Joel Pollak
https://www.breitbart.com

<More Surprise Here - Zimbabwe He They Come!>

South Africa slid into an official recession Tuesday, as second-quarter growth domestic product (GDP) figures showed a contraction of 0.7% the second straight quarter of decline. First-quarter figures were revised down, from -2.2% to -2.6%. The main culprit, according to South Africa's Business Day, was a sharp contraction in the agricultural sector, which has been under political assault this year as the ruling African National Congress has pledged "expropriation without compensation." The Business Day described the "shocking drop in agriculture," which single-handedly tipped the economy into recession:

Most analysts had expected a moderate increase in GDP.


But the most shocking number in the statistics is the precipitous 29.2% decline in agricultural production over the second quarter.



Statistics SA said: "The decrease was mainly because of a drop in the production of field crops and horticultural products". The agriculture "detracted a significant 0.8% from the headline outcome", Investec said.

The recession is not quite "shocking" to opponents of the South African government's land reform policy, which is ostensibly aimed at redressing racial inequalities in land ownership, but which critics have called a threat to property rights in general. Though the policy only began in earnest last month, following a televised address by Cyril Ramaphosa, the newly-installed president had already declared that the government would pursue "expropriation without compensation" in February, during his "State of the Nation" address. "Guided by the resolutions of the 54th National Conference of the governing party, this approach [to land redistribution] will include the expropriation of land without compensation," Ramaphosa announced.

Farmers appear to have responded to those signals by taking fewer risks, preserving scarce capital rather than gambling it on a new crop in South Africa's drought-prone climate when the value of their land, and security of their tenure, was at stake.

(snip)

<More Surprise Here - Zimbabwe He They Come!>
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#2 User is offline   MontyPython 

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Posted 11 September 2018 - 01:09 PM

I don't think "shocking" is exactly the right term. Any of the following would be much more accurate:

Predictable
Expected
Obvious
Unavoidable
Inevitable
Unsurprising
Foreseeable
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#3 User is online   zurg 

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Posted 11 September 2018 - 02:23 PM

View PostMontyPython, on 11 September 2018 - 01:09 PM, said:

I don't think "shocking" is exactly the right term. Any of the following would be much more accurate:

Predictable
Expected
Obvious
Unavoidable
Inevitable
Unsurprising
Foreseeable

Indeed. And:

Stupid
Idiotic
Fascistic
Communistic
Imbecilic
Retarded
Aholish
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#4 User is offline   Dean Adam Smithee 

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Posted 11 September 2018 - 05:29 PM

What SUCKS - What ROYALLY (LOL
) sucks - Is that I'm beginning to gravitate towards Marie Antionette.

This post has been edited by Dean Adam Smithee: 11 September 2018 - 05:30 PM

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#5 User is offline   Italian Biker 

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Posted 11 September 2018 - 05:44 PM

My guess is they will have a famine in the very near future, probably not to the level of Ethiopia, but a famine none the less. And I won't donate one damn penny to relief efforts.
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#6 User is offline   Tikk 

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Posted 11 September 2018 - 07:42 PM

Did 'surprised cat' die?

Heart attack? Aneurysm? High blood pressure? Plane crash? Donald Trump?
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#7 User is offline   SARGE 

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Posted 11 September 2018 - 08:15 PM

View PostTikk, on 11 September 2018 - 07:42 PM, said:

Did 'surprised cat' die?

Heart attack? Aneurysm? High blood pressure? Plane crash? Donald Trump?


No, he's just not surprised.
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#8 User is offline   oki 

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Posted 11 September 2018 - 08:15 PM

Really begs the question: How many times must history repeat itself before people finally learn?

Oki
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#9 User is online   zurg 

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Posted 11 September 2018 - 09:34 PM

View Postoki, on 11 September 2018 - 08:15 PM, said:

Really begs the question: How many times must history repeat itself before people finally learn?

Oki

What is infinite, Alex.
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#10 User is offline   MTP Reggie 

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Posted 12 September 2018 - 07:26 AM

View PostTikk, on 11 September 2018 - 07:42 PM, said:

Did 'surprised cat' die?

Heart attack? Aneurysm? High blood pressure? Plane crash? Donald Trump?


Apathy.
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#11 User is offline   oki 

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Posted 12 September 2018 - 01:41 PM

View Postzurg, on 11 September 2018 - 09:34 PM, said:

What is infinite, Alex.



Yup, those who don't learn from history are doomed to repeat it.

Oki
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#12 User is offline   MontyPython 

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Posted 12 September 2018 - 02:03 PM

View PostMTP Reggie, on 12 September 2018 - 07:26 AM, said:

Apathy.


My therapist says I'm too apathetic, but who cares what he thinks?

:shrug:
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#13 User is offline   Diamond369 

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Posted 12 September 2018 - 06:12 PM

View Postoki, on 11 September 2018 - 08:15 PM, said:

Really begs the question: How many times must history repeat itself before people finally learn?

Oki


Stupidity seems to be forever. For some, stupidity seems to be a way of life.
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#14 User is offline   Dean Adam Smithee 

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Posted 13 September 2018 - 05:26 PM

View PostMontyPython, on 12 September 2018 - 02:03 PM, said:

My therapist says I'm too apathetic, but who cares what he thinks?

:shrug:


"Anyone who sees a psychiatrist should have his head examined".
-Samuel Goldwyn


LOL
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#15 User is offline   MontyPython 

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Posted 13 September 2018 - 05:33 PM

View PostDean Adam Smithee, on 13 September 2018 - 05:26 PM, said:

"Anyone who sees a psychiatrist should have his head examined".
-Samuel Goldwyn


LOL


:woot:

Now there's one I'd never heard before.

:2up:
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