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Inflation in Zimbabwe: What comes after a trillion?
guardian.co.uk — Inflation in Zimbabwe is 9m%, a Z$50bn note is worth just 17p - the cost of a single egg - and there is more than 80% unemployment. How are ordinary people coping with this disastrous economic meltdown?
MrBabyMan- 161 diggs
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- sagat, on 07/17/2008, -2/+2How are ordinary people coping with this disastrous economic meltdown?
I assume by melting coins, surely they have got to have reached a state of inflation where the metal in the hard currency is worth more than its monitary value?- freqk, on 07/18/2008, -0/+1Yes. I'm sure the common Zimbabwean has the machinery and power necessary to melt the few coins he rarely gets his hands on.
Who would buy a few grams of mixed minerals?
Get real. - bosssmiley, on 07/18/2008, -0/+1They're using US dollars, the reserve currency of choice for black markets the world over. If you want to get something done in Zim' right now, offer to pay in 'greens'.
- freqk, on 07/18/2008, -0/+1Yes. I'm sure the common Zimbabwean has the machinery and power necessary to melt the few coins he rarely gets his hands on.
- reflex768, on 07/18/2008, -1/+4>>>Ishmael Dube: "First one car two years ago, then the other. I don't have a vehicle any more. Then I've been selecting certain household items to sell. I used to have three TV sets. I sold two. I sold the washing machine. Last month I sold my radio..."
That's an arresting image. Zimbabwe has looked for a long time like a historical newsreel playing backwards into pre-modernity, as one asset of civilization after another is stripped away. If it goes on much longer it will start to look pre-human. All that's going to be left to strip away is people's lives. - toetagger, on 07/18/2008, -1/+1This is what the Bushes would love here, but luckily the dems are stopping him. Oh wait...
- AnotherDiggGuy, on 07/18/2008, -0/+1I never understood why a county who's monetary system is worthless continues to use it. Or even how stuff can keep getting more and more expensive until no one can afford to buy it. It's almost like money is a disease, waiting to find a weakness wreak havoc.
- scooterbaga, on 07/18/2008, -0/+1Quadrillion.
- Haoie, on 07/18/2008, -0/+1This is the sort of hyperinflation that was seen in Germany in the 1930s.
- jodimcmullen, on 07/23/2008, -0/+1This is the sort of hyperinflation that is in U.S. in the 2000s.
Infrastructure crumbling, unaffordable education that used to be free, most public money going to few corrupt defense contractors and their cronies. I see many folks struggling to survive. Many cannot pay their utilities, or pay for medicine when they are ill. Read this article. it is not only Africa. - rkbabang, on 07/24/2008, -0/+1Death by Government
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