gadling.com — As the US economy inches ever closer to a recession, it might provide a little perspective to look at what a real economic crisis looks like. Plagued by hyperinflation of over 50,000% a year, Zimbabwe's central bank recently decided to issue $10 million notes.
Jan 24, 2008 View in Crawl 4
Closed AccountJan 24, 2008
This is called bad luck!
machocheese34Jan 25, 2008
What do you do at strip clubs?
simongrayJan 25, 2008
He didn't say €, he clearly said "EURODOLLARS"!...
addiktionJan 25, 2008
darien doesn't know what he's talking about. You don't have to be into economics to know that they just infused morre then 300$ billion into our money system. The currency has fallen below Canada which is pretty sad for the United States. I hate the federal reserve period. We didn't come to America to deal with that central banking crap that Europe dealt with but it still got shoveled into our hands. The end result though is inflation will increase and our currency will be in shambles like many other countries. I think that'll be a perfect opportunity to push out that new "Amero" that they keep sporting about. I'm guessing it won't even have any US presidents on it...Your in the American Union now beotch.
kwashiorkorJan 25, 2008
The sale of treasury notes creates currency through the fractional reserve system. The Fed may try to regulate this, but their squeezing and prodding has limited positive effect (and often damaging effect), because it's an after-the-fact response to market conditions, an attempt to predict and outmaneuver the market, and a constant push against the limits of expansions vs. inflation. The bills have to be paid somehow: either through taxation or inflation. What do you want: depression or hyperinflation? The Fed's tightrope walk between the two can't last much longer. And I think I'll take the tinfoil -- tin at least has value as a commodity, unlike paper money.
adam_skinnerJan 25, 2008
The United States is headed on this track. Our government is in debt and there will come a time when the rest of the world will not be so tightly coupled to our fortune and we will sink like a stone. It will come as a major surprise to America, that their illusion of prosperity will be so rapidly and thoroughly torn from their grasp.As an American, it's a neigh inconceivable thing to believe. We are like Rome before it's fall.China holds a "financial nuke" over America. They can totally devalue our currency seriously, leading to this type of hyper inflation.
freedomkeeperJan 25, 2008
The end of management of many African countries by whites was the beginning of their demise. I'm not trying to be racist, but it has proven itself over and over again. Not to mention the criminal way in which whites were treated after loosing power. Zimbabwe is the model, with countries like South Africa and Kenya following suit. People react in an ignorant, irrational manner to this suggestion, but the facts speak for themselves.
joedopeJan 26, 2008
duece, you are not smart.
faiyazkJan 27, 2008
Firstly I commend you all for being interested in monetary policy, but all you thinkers out there, remember what all mainstream media leaves out of their articles about Zimbabwe. They are a country, that is far from self-sufficient, being destabilized by international SANCTIONS. This rapid inflation originated first from completely immoral SANCTIONS! I know this because I follow cricket and Zimbabwe just a few years ago had a fair economy and quite good cricket team. Once Mugabe kicked out the whites from their farmland (which makes him extremely popular amongst the majority blacks) they (the British with the U.N.) started their game of economic warfare. Read the following statements from ranking UN officials about the immoral consequences of sanctions on a nation's economy and people. <a class="user" href="http://www.globalpolicy.org/security/sanction/indxone4.htm">http://www.globalpolicy.org/security/sanction/indx ...</a>