Tuesday, 12 May 2009

Recession Brings Ugandanomics to France

The New York Times had a great piece yesterday on how the French have been pouring money into cows as an alternative form of savings during this period of rock-bottom interest rates at the banks. The featured farmer's Holsteins will give a 4-5% return on investment through the selling of their offspring:

“At this difficult time, it’s a much better investment than real estate and much more tangible than the stock market,” Mr. Marguerit said. He then proceeded to praise the new interest “in natural, organic and lasting things” among the French, who have always romanticized the countryside and imagined themselves shrewd peasants at heart.

“This is part of the patrimony,” he said. In the steep financial crash, “we’re having a moment of realization — we’re landing hard and people are asking real questions.” Diversify into cows? Why not?

Of course any self-respecting Muyankole or Muhima could have told you that a long time ago, not least the Big Man himself.

No comments: