Wednesday, December 2, 2009

Zimbabwe declared inflation illegal

What about the fundamental rights of the economists?

Inflation is a natural occurring economic phenomenon. How can it possibly be declared illegal? They actually arrested some company officials who increased prices.

The inflation of Zimbabwe was so high, the company that printed Zimbabwe currency refused to do so anymore. Government promoted using currencies other than Zimbabwe dollars. Even so, that Zimbabwe's National postal service started charging people postage in US dollars.

It took me some time to count the zeros in their economic numbers. 231000000% is not a very appreciative inflation figure.

This is what a real crisis looks like. A land where probably the cost of paper is more than the denomination of currency printed on it. A land of starving billionaires.

People in Zimbabwe are still not sure how to react-
"I just bought a chicken burger which cost me 30 million Zimbabwean dollars "

And we call what happened in US a crisis? I am not a pessimist, but lets all stop printing dollars.

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