South Africa 'unexpectedly' slides into recession as agricultural production plummets in wake of plans to seize white-owned farmland

Gee, who could have possibly anticipated that threatening to steal (that is, expropriate without compensation) land from farmers who have worked it for generations would cause farmers to cut back on planting, cultivating, harvesting, or shipping crops?  Thus, we have Bloomberg telling us, "South Africa's economy unexpectedly shrank for the second consecutive quarter in the three months through June."  The recession, based on a second-quarter decline in GDP of 0.8%, is entirely due to a steep decline in agricultural production: "the agriculture market fell back by 29.2 per cent, taking 0.8 per cent off GDP." This was entirely predictable.  Half a year ago, I warned that with expropriation of white farmers, South Africa is embarking on a course headed toward disaster: The former Rhodesia turned itself from the breadbasket of Africa, a major exporter of staple grains, into a country on the perpetual verge of...(Read Full Post)
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