These are recent headlines from the Voice of America:
Zimbabwe Inflation Of 231 Million Percent Understates Risk - Economist
And you can read the story here. That is not a misprint. So take a deep breath when you look at our economy. Robert Mugabe has done such a wonderful job with what is perhaps one of the most gifted countries, in terms of natural resources, in the world. Way to go Bob.
1 comment:
That's what happens when you seize all of your efficient, food-producing farms and redistribute to incapable citizens and government croonies. Africa's had a long history with "kleptocracies" - just look at the Republic of Congo. Of course, the imperialist British, Belgian, French, etc. had an equally horrific track-record but at least it was looking like Zimbabwe had risen above all of that. Sad to see that's no longer the case.
Fortunately, our economy's not that challenged - but take a look at recent experiences in Argentina and the Asian financial crisis of the late 90's if you'd like to see what's in store for us. Great examples of what happens when countries run up huge debts.
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