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Chart of the day........

.......records the rapid evolution of Peru's GDP growth forecasts.

  • On November 9th in the CADE conference (Peru's biggest gathering of muckety-mucks, as Mickey Fulp calls the high falutin' bizpeople) President Twobreakfasts received warm applause and love for stating that Peru GDP would grow 6.5% in 2009. Otto laughed his tragic laugh.
  • Last week (Jan 8th to be exact) Peru's central bank stated that GDP growth would be 6.0% in 2009. Otto laughed his tragic laugh.
  • This morning, Peru's newspaper of record El Comercio (mediocre though it may be, it's the "serious" one) has Prime Minister Yehude Simon saying that 2009 GDP growth will be "between 4% and 5%" (so I'm being generous on the chart, really).

Otto's still laughing at South America's worst government (that beats out fierce competition, too).