Debates Forum

Debates Forum

  1. Seongnam, S. Korea
    Joined
    03 Jun '17
    Moves
    19308
    05 Sep '18 10:41
    None of this is surprising in the least:

    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.”


    https://www.breitbart.com/national-security/2018/09/04/south-africa-in-recession-after-land-threat-shocking-drop-in-agriculture/

    The article points out that farmers simply do not want to take any risks or try something new and interesting. Indeed, many of them I imagine are interested in pulling out as soon as they can as it is far better to leave on your own terms than to leave without any sort of compensation.

    It is also worth noting that there are people bringing up the fact that some of these farmers may be held accountable for paying loans on their land even after it has been re-appropriated by the government and they are no longer the owners of it!



    So the idea of taking out a loan to make improvements on your farming operation... who wants to do that?

    We also have a funny situation where there are probably loads of farmers looking to permanently get out of the industry yet there are few people who want to buy into it. The general price of farm land must be plummeting as the demand for white farmers for this stuff is probably next to nonexistent. Even though they have apparently avoided doing it this year, perhaps the only thing that was actually stopping them was the Trump tweets and the interest of some other right wingers in the West. Ultimately, without this, the white farmers would have been totally victimized.

    But hey, maybe this delay is ultimately for the better for South Africa as it will postpone the inevitable Venezuela-like conditions.
  2. Standard membershavixmir
    Guppy poo
    Sewers of Holland
    Joined
    31 Jan '04
    Moves
    56264
    05 Sep '18 11:04
    Originally posted by @philokalia
    None of this is surprising in the least:
    [quote]
    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, w ...[text shortened]... ly for the better for South Africa as it will postpone the inevitable Venezuela-like conditions.
    Yeah... I’m sure it was trump tweets that influence the world... haha

    And not only right-wingers criticised the policy.