SA officially hits recession

Pitbull

Pitbull

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Fin24

Pretoria – Gross domestic product contracted 0.7% for the first quarter of 2017, indicating that the country has entered into a recession, according to deputy director general of Economic Statistics at Statistics South Africa (Stats SA) Joe de Beer.

The latest GDP data was released by Stats SA on Tuesday.
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Let the good times roll on by...
 
Good thing we don't have an unemployment problem...
 
And you know the country has a 1.7% population growth. And that is the official rate! Subtract that from the economic growth and you end up with what? -2.4% ??? And then people ask why the world is looking down on South Africa.
 
ɹǝuuᴉM said:
And you know the country has a 1.7% population growth. And that is the official rate! Subtract that from the economic growth and you end up with what? -2.4% ??? And then people ask why the world is looking down on South Africa.
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You are aware that population growth goes hand in hand with Economic growth right?

If the population didn't grown there would be no need for economic growth... a Growing population is great, if you have economical growth with it. The one can't go with the other, but they can affect each other.
 
So technical recession + junk status from to credit agency's.
I think we recession is in full swing and the 3rd credit agency puts us into junk we will head to a repeat of 2009 financially. Harsh times ahead.

Wonder how this will effect interest rated?
 
terencej said:
So technical recession + junk status from to credit agency's.
I think we recession is in full swing and the 3rd credit agency puts us into junk we will head to a repeat of 2009 financially. Harsh times ahead.

Wonder how this will effect interest rated?
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They will try and drop the repo rate to stimulate spending. The problem is people will not be spending even if they have money spare due to the uncertainty. We have now hit a turning point one should try and avoid at ALL costs! It's going to be a rough ride for a couple of months that's for sure ;)
 
I'm waiting for the usual ANC reaction.

Junk Status is good because bond ratings are a colonialist tool of oppression.

Recession is good because to get money out of the hands of the evil whites, we first need to destroy everything so we can start again.
 
I thought we were STILL in a recession.
 
Pitbull said:
You are aware that population growth goes hand in hand with Economic growth right?
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Sadly, that does not happen always! South Africa 2017 is just such an example. Population growth does not mean economic growth.

Pitbull said:
If the population didn't grown there would be no need for economic growth... a Growing population is great, if you have economical growth with it. The one can't go with the other, but they can affect each other.
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This is not correct! Unless you don't care about improving your life. Mind you - 'stone age' had its advantages :D
 
Fsck. Really regretting coming back to SA... should have stayed in even with all their Brexit bull****.
 
Are they finally calling it a recession...

Except, unlike the 2009 recession, businesses are not pulling out because of a global issue. They're pulling out because the country is failing under the ANC, with no light at the end of the tunnel.

We've lost R30 Billion in investment since March.
What about the taking land without compensation? Sanctions?
Then Gigabyte talking about Government getting directly involved in the economy.
 
ɹǝuuᴉM said:
This is not correct! Unless you don't care about improving your life. Mind you - 'stone age' had its advantages :D
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You're wrong and I'll show you why:

You own a company that bakes bread. You need to feed the people from your country. Your country has a population of 100. You bake bread to feed 100 people of those 100 people 10 work for you. Unless there is an increase in demand (more mouths to feed) you will still only produce bread for 100 people.

Now you can up the price of the bread to create growth but all that does is taking more money away from your 10 employees. So again, you pay more in wages, they spend more on food. If you have negative population growth you end up having to feed 60 people in time but charging them more to make up the deficit.

However, your population grows, you need to employ more people to feed more people, you can create growth without having to charge more quarter on quarter due to the increase in demand.

You produce more, meaning you need to buy more from suppliers and it's a chain reaction. That is economical growth. I don't see how you get economical growth with a negative population growth :o
 
With the 2009 recession South Africa had someone to blame (global recession) but in 2017 is another story. The world is doing just fine, with some countries doing even better than they did prior to 2009. SA already raised eyebrows when, after 2009, they kept on blaming their poor economic performance on the slow world recovery. It will be interesting to see what excuse will South Africa give this time around. My bet is on the weather/drought/floods/global warming ....
 
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Don't worry guys!!

JZ/ANC will blame white capital ...


We are so screwed it's not even funny. Yet, ANC NEC kept JZ in control... wtf. O wait.. they don't suffer. They have overseas bank accounts worth millions if not billions.
 
ɹǝuuᴉM said:
This is not correct! Unless you don't care about improving your life. Mind you - 'stone age' had its advantages :D
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Or growing the economy to allow the 27% currently unemployed to be participants...
 
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