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Recession Spares Africa

Despite the downward trending global economy, recent economic studies in Africa suggest that the continent is unaffected by the worldwide recession. The economies of several African nations might even be showing signs of growth.

Economists refer to this phenomenon as the "Nowhere to go but up effect," or more colloquially as the "Britney Spears effect." Former Chairman of the Council of Economic Advisors, N. Gregory Mankiw, described the situation. "Basically, things in Africa were so bad that they could not possibly get worse. In economic jargon, anything is pareto optimal."

The news of Africa's economic upswing was greeted enthusiastically by the African community. Men dressed in fatigues took to the streets across the continent and fired guns into the air in celebration. This sparked civil wars in six nations.

Many notable American leaders expressed excitement for the future of Africa, including Alaskan Governor Sarah Palin who said, "I'm so thrilled the continent of Africa is doing well. That continent has long been a forgotten continent, but we shouldn't forget it's an important continent, and I know it will continue to be a continent, and an important continent at that."

© 2009
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