The bloody recession, that is.
I see Fonterra is about to TREBLE its sales to China and has just cracked open the Egyptian market for its Anchor range of products. Sounds to me like the cow cockies will be having a pretty decent recession this time round. Anyone else picking better than $6.00 per Kg next year? With interest rates half the rate of a year ago?
The Herald reports that China is having a tough time because it's GDP increased by ONLY 6.1% in the first quarter of 2009.
Well folks, so much for the world wide recession. China appears to be not part of the world because recession means your GDP is in decline (euphemistically termed negative growth) for two consecutive quarters.
"China has reported its worst economic growth data since 1992. Growth slowed in the first quarter of this year to 6.1 per cent, but some analysts see signs of a recovery with hope that the last quarter was the trough.
Growth was 6.8 per cent in the last quarter of last year, but the first-quarter GDP figure dropped as exports fell 17 per cent last month."Accordingly, Adolf asks that journalists cease the use of this outrageously exaggerated term 'world wide recession.' It is damaging negative propaganda and it is a lie.
I wonder how certain other countries are getting on? The ones which do not suffer from tax and spend socialist governments and their cradle to the grave social services and bloated public services? No doubt NZ, Britain, France, Germany, Italy and Canada are in recession but what about India, Indonesia, Malaysia, Singapore?
Where can I get a look at their 2009 first quarter figures?
Update: From the OECD website - final quarter 2008:-
India ....... GDP 5.92
Indonesia GDP 7.78
Czech RepGDP 0.32
France .....GDP 0.88
Germany .GDP 1.17
So there you go. It's a world wide recession which doesn't include China, Indonesia and India - must be nearly half the world's population.