Getting closer to the truth… -20% GDP… right NOW.
A nice article today in the Taipei Times…
“If the US were to employ Taiwan’s calculation method, its economy would be reported as having contracted only 0.82 percent year-on-year in the last quarter of last year, which fails to represent the seriousness of the situation.
Such a slight contraction could hardly reflect the serious decline that actually took place in the US economy in the last quarter.
On the other hand, if Taiwan were to employ the US calculation method, its economic growth rate for the last quarter of last year would be close to minus 20 percent.
…
This figure shows the real seriousness of the decline.
-20%, and heading swiftly for -30%, folks… this is not a good situation. That’s twice as bad as the Great Depression in the US, and going towards three times as bad. That’s the collapse of the Qing Dynasty, in a single year instead of twenty.
Posted: March 6th, 2009 under Taiwan.
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