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Inflation in Zimbabwe Reaches 2.2 Million Percent
The Virginian ^ | 7/23/08 | Moneyrunner

Posted on 07/24/2008 4:46:59 AM PDT by moneyrunner

Inflation figures are always a little slippery, but the government of Robert Mugabe in Zimbabwe has managed the virtually impossible feat of generating a hyperinflation that has exceeded that of the Wiemar Republic of the 1920s.

From The Rand Today:

As the woes continue in Zimbabwe, the central bank’s governor in Zimbabwe, Gideon Gono said today, “Statistics provided by the CSO (central statistical office) indicate that it is now at 2.2 (million percent).” This referring to the rate of inflation in the country. This is clearly the highest rate of inflation in the world. And this figure released of 2.2m% can not be totally accurate with many suggesting that the rate of inflation is actually much higher than this. The last official announcement about the rate of inflation was in February this year when it was said that inflation was 165 000%.

It is still anyone guess how they can actually still be able to calculate the rate of inflation in Zimbabwe with the way things our going in their economy. An inflation rate of 2.2m% really does not make sense to anyone who is not in Zimbabwe and maybe even for those in the country. If someone tells you that a cold drink is 20 billion dollars, one can not comprehend what the actual value is unless you convert it back into rands or US dollars.

(Excerpt) Read more at moneyrunner.blogspot.com ...


TOPICS: Business/Economy; Politics
KEYWORDS: africa; inflation; zimbabwe
Zimbabwe, once known as Rhodesia under white rule was once one of the richest countries in Africa; an exporter of food and raw materials to the world is now an economic basket case due to the kleptocratic Marxist rule of Robert Mugabe.

At independence in 1980 one Zimbabwe dollar was worth more than one US dollar. Now the Zimbabwe currency is probably worth less as legal tender than as fuel.

Much of the international community has finally faced the fact that Mugabe is a tyrant who is literally destroying his country and the poor people of Zimbabwe.

The Liberal community is trying to disassociate itself with the monster they feted a few years ago.

1 posted on 07/24/2008 4:47:00 AM PDT by moneyrunner
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To: moneyrunner

another Jimmy Carter success story.

I wonder how many such cases an Obama administration would leave behind .


2 posted on 07/24/2008 5:05:58 AM PDT by jefferson31415
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To: moneyrunner
Obviously fear of government overpowers the anger and desperation of the people--

And the people of Zimbabwe are very angry and very desperate. How great must be their fear!

Leftists, including Marxists, employ the same tactic. Big Government enforces its oppression through violence and threat of violence. The fear that it instills in the people whom it subjugates overpowers their anger and desperation.

The bigger the government, the more ruthless the subjugation and the greater the fear.

Even in the USA, where the power of the Left and Big Government is still constrained, the people fear the "jackbooted thugs" of government agencies and the draconian laws designed to control the people through fear.

Imagine what it would be like if the constraints were removed! How angry and desperate the people would become, and how enormous the fear that Big Government and its thugs would instill to keep the people subjugated!

This is the Leftist Dream--an overpowering oligarchy, composed of themselves, of course--ruling over the people and controlling them with fear.

Note how Leftists love brutal dictatorships! Note how they love Big Government and draconian laws!

The Leftist Dream is not democracy or government by the people.

The Leftist Dream is Big Government, controlled by themselves, suppressing, controlling, and exploiting the common people through fear, intimidation, threat of violence, and violence!

The Leftist Dream is Joe Stalin, Big Brother, and Napoleon the Pig.

There is nothing new about the Leftist Dream.

3 posted on 07/24/2008 5:27:16 AM PDT by Savage Beast ("Some people are born knowing, and some people will die searching." -Antonio Banderas)
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To: moneyrunner

I recommend the book “Don’t Let’s Go to the Dogs Tonight” if anyone is interested in a biographical/memoir type book about whites growing up in Rhodesia/Zimbabwe and some other African countries nearby, set during the time when a lot of governments were changing over from colonialism.


4 posted on 07/24/2008 6:16:04 AM PDT by ReagansShinyHair
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To: moneyrunner

In Zimbabwe a Dinner and a Movie out would just about wipe out Bill Gates.


5 posted on 07/24/2008 6:36:34 AM PDT by NavyCanDo
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To: moneyrunner

Bump.


6 posted on 07/25/2008 10:38:03 PM PDT by Theo (Global warming "scientists." Pro-evolution "scientists." They're both wrong.)
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