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Zimbabwe Inflation "Incalculable" (100,000% Inflation By Year's End Alert)
http://news.bbc.co.uk/2/hi/africa/7115651.stm ^
| 11/27/2007
| BBC News
Posted on 11/27/2007 6:03:08 PM PST by goldstategop
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To: goldstategop
the 15000% presumably annualized rate works out to like 50% a DAY!
Meaning you have to make sure you spend money the second you get your hands on it, if you can find something to buy.
To: Blood of Tyrants
“This is Atlas Shrugged come to life.”
Yep - but the main thing is that the “masses” got to vote.
22
posted on
11/27/2007 6:31:12 PM PST
by
geopyg
(Don't wish for peace, pray for Victory.)
To: goldstategop
Last month, the central bank
(located at your friendly Kinko's Printing Shop in downtown Salisbury - oops make that Harare), offered loans, known as Bacossis, to businesses at 25% interest to restore supplies to shops, AP news agency reports.
I guess the 25% interest is to cover the cost of the paper that they use to print the funny-money.
To: goldstategop
What’s incalculable is the ERA for a mid-innings Cubs pitcher.
24
posted on
11/27/2007 6:32:52 PM PST
by
InvisibleChurch
(Tempus Fidget - The time between the final hymn and recessional.)
To: WoofDog123
No! That 15,000% A MONTH. That's the unofficial inflation estimate. In truth, no one knows what the real rate is there.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
25
posted on
11/27/2007 6:33:41 PM PST
by
goldstategop
(In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
To: WoofDog123
“...works out to like 50% a DAY!”
And from what I was reading somewhere, the lines are 4 to 6 hours long for bread (if they don’t run out).
26
posted on
11/27/2007 6:34:42 PM PST
by
geopyg
(Don't wish for peace, pray for Victory.)
To: geopyg
Most people cannot buy anything. Its a country starving to death. Its a social experiment on a scale unseen in history. There's no precedent for what's happening in Zimbabwe.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
27
posted on
11/27/2007 6:36:06 PM PST
by
goldstategop
(In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
To: goldstategop
africawinsagain...
28
posted on
11/27/2007 6:38:11 PM PST
by
Chode
(American Hedonist)
To: goldstategop
"Other reports suggest the rate could be at near 15,000% and the International Monetary Fund had warned it could reach 100,000% by the end of the year." Total economic collapse. Economic activity will soon be based on who has the biggest round rocks to trade with. You know, the giant stones carved like discs with the hole in the middle.
29
posted on
11/27/2007 6:39:09 PM PST
by
StormEye
To: StormEye
Yep. The only way to survive is to barter. That's the only way to even carry on the bare semblance of a society. I wouldn't call it living.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
30
posted on
11/27/2007 6:40:42 PM PST
by
goldstategop
(In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
To: goldstategop
Last month, the central bank offered loans, known as Bacossis, to businesses at 25% interest to restore supplies to shops, AP news agency reports.so now they not only want the stores to sell below cost... they want them to take out a LOAN to sell at below cost???
sounds like klintoon economics.
31
posted on
11/27/2007 6:41:39 PM PST
by
Chode
(American Hedonist)
To: Chode
Hey, at least that racist Ian Smith is dead. </s>
To: goldstategop
Can you buy ZIM money here in the States? I imagine some entrepreneur could sell sets of ZIM currency as a kind of sad collectors item. Hm. Maybe I’ll do that.
33
posted on
11/27/2007 6:51:27 PM PST
by
Theo
(Global warming "scientists." Pro-evolution "scientists." They're both wrong.)
To: goldstategop
This is not normal inflation, this is a collapsing currency and an economy shifting to the barter system.
The end will come when the govt is out of resources and is unable to keep their soldiers fed.
34
posted on
11/27/2007 6:53:27 PM PST
by
Free Vulcan
(No prisoners. No mercy.)
To: goldstategop
If there was any justice in the world, Mugabe would be the lead target of every human rights group in the world.
Which of course will happen well after the pigs start flying.
To: goldstategop
If, in some fantasy world, an honest election was held voting on whether to restore the name of the country to Rhodesia, return property to the former owners and return the political system back to what it was before the revolution...
what would happen?
Not that many of the people who have lost everything they had would come back anyhow, but it would be interesting.
36
posted on
11/27/2007 7:00:01 PM PST
by
Ronin
(Bushed out!!! Another tragic victim of BDS.)
To: goldstategop
That level inflation means only gold, guns and gas buy anything else.
37
posted on
11/27/2007 7:32:13 PM PST
by
tbw2
(Science fiction with real science - "Humanity's Edge" - on amazon.com)
To: Free Vulcan
That level inflation means only gold, guns and gas buy anything else.
38
posted on
11/27/2007 7:37:36 PM PST
by
tbw2
(Science fiction with real science - "Humanity's Edge" - on amazon.com)
To: dynachrome
Printed on only one side to save money.I actually have some Hong Kong 1¢ notes like that.
Better idea? Print them on TP. They'll always have some value...
39
posted on
11/27/2007 7:37:52 PM PST
by
null and void
(No more Bushes/No more Clintons)
To: null and void
Funny. But if you get paid for one day, you already have a year’s supply of toilet paper.
Or is it worth more as fuel for the cook fire?
Print it on edible paper instead ...
40
posted on
11/27/2007 7:38:58 PM PST
by
tbw2
(Science fiction with real science - "Humanity's Edge" - on amazon.com)
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