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8/4/09

Peru: Will Spongebob Carranza resign in disgrace as Peru slips further into recession?

When the last set of Peru GDP figures hit in July, FinMin and Liar Spongebob quickly came out and said that the economy "had touched bottom" (samo samo he's used all year) and said that the first half of 2009 would finish around +1%.
So inquiring minds would like to know whether Carranza will finally admit his policies have been utterly ineffective and that his constant overestimating bullshit has led his country up the garden path if the latest Banco Continental forecast of a Peru GDP downturn of -2% to -2.4% in June (the official number is expected out mid August) is proven true. According to the report:
"The Economics Studies Service of BBVA Banco Continental projects a fall in June GDP of between 2% and 2.4% after the poor performance (figures) of the primary and manufacturing sectors."
Such a figure would put Peru's GDP at around -1% negative growth for the first half of the year, a mile away from Spongebob's +1% for the first half of the year, a million miles from his 3% yearly forecast (that was as high as 5% in March) and a quadsquillion miles away from the total demagogic piffle spouted by Twobreakfasts late last year when he forecast Peru's 2009 as +6.5% and that his country's economy was "armour plated" against the world financial woes.
While we're at it, that 5% GDP figure mentioned by Carranza in March found its way into this IKN post at the time. A humble blogger like me calling bear on Peru all year against the world's economic brains calling "Peru economic miracle", so let's see now........
"... Twobreakfasts says it's going to be 5% this year, and Carranza says 5% this year, and the Central Bank says 5% this year, and the IMF says 5% this year. I mean, why on earth should you listen to me and ignore all those utterly reliable and impartial sources?"
Nuff said. I am available for hire or autographs so Spongebob, feel free to mail me you dumbass. You were a random walk FinMin who got lucky and did nothing during your first stint at the job, then actually bought into the BS they wrote about you. Fact is you're a zero, a liar, an emperor with no clothes and a knownothing. Resign and put us out of our misery.