(Mugabe's Zimbabwe) Business Execs Arrested For Refusing To Cut Prices

ASSOCIATED PRESS ^ | July 9, 2007 | Angus Shaw

[DogByte6RER]

Business execs arrested for refusing to cut prices

By Angus Shaw

ASSOCIATED PRESS

July 9, 2007

HARARE, Zimbabwe – Police arrested 16 more business leaders in a crackdown on those suspected of violating the government's order to slash prices by 50 percent, the official media reported yesterday.

The mandated price cuts ordered more than two weeks ago are a desperate attempt to confront inflation that has spun out of control during Zimbabwe's economic crisis. The falling prices have caused stampedes, panic buying and near-riots.

Among those arrested in the latest sweep were the directors of Edgars, a leading clothing and fashion retailer, and supermarket and gas station owners. Also taken into custody were Michael Fowler and Zed Koudanaris, directors of the main food distributor and fast food chain, and Gavin Sainsbury, chief executive of the country's biggest producer of pork products, the state Sunday Mail reported.

The country's economic crisis, the worst since independence from Britain in 1980, began with the seizure of thousands of white-owned commercial farms for redistribution to blacks in 2000. The country's agriculture-based economy collapsed as a result.

Official inflation is running at 4,500 percent, the highest in the world, though independent financial institutions estimate that real inflation is closer to 9,000 percent.

Business executives argue the price cuts threaten to force them to shut down. The government accuses them of being part of a political and economic campaign of “regime change” to bring down longtime ruler President Robert Mugabe. Police on Friday arrested 17 business leaders.

Store shelves remained empty of corn meal, bread, meat and other basic foods yesterday as police and government inspectors continued raiding shops and businesses to force them obey the new price controls.

At least 200 businesses already have been charged for alleged price violations, and 40 market vendors were arrested for hoarding goods.

[DogByte6RER]

Mugabe and his rat bastard communists first destroy the private economy and free enterprise in Zimbabwe, then they arrest the few remaining capitalists for NOT SELLING their products at a loss.

This is a nightmare scenario right out of a George Orwell novel or an Ayn Rand novel....

[SmoothTalker]

Hope Pelosi doesn’t see this. Might give her some ideas.

[DogByte6RER]

This is a nightmare scenario right out of a George Orwell novel or an Ayn Rand novel....

[2banana]

Socialism is rather funny to watch — terrible to live under...

[Jaysun]

The good thing about Zimbabwe is that Mugabe has so thoroughly f**ked things up that change can’t be too far away.

[Red Badger]

Who is John Galt?.........

[DogByte6RER]

[mallardx]

It’s like having Jimmy Carter in charge...it’s ludicrous!

[Prokopton]

It’s like having Jimmy Carter in charge...it’s ludicrous!

Jimmy Carter's the one that brought Mugabe to power.

[DogByte6RER]

This is a nightmare scenario right out of a George Orwell novel or an Ayn Rand novel....

[DogByte6RER]

[Jaysun]

It’s like having Jimmy Carter in charge...it’s ludicrous!

Right. And we have Jimmy Carter to thank for Mugabe.

[Calvin Locke]

It’s like having Jimmy Carter in charge

Actually, it was Nixon that tried price controls.

And Carter was one of the idiots that brought Mugabe to power.

And both are still around to cause more problems. At least Nixon's price controls didn't last too long.

[statered]

Can ya’ll expand on that? I think carter was president when he came to power. Has Carter gone down there to legitimize an election or something?

[mmichaels1970]

The government accuses them of being part of a political and economic campaign of “regime change” to bring down longtime ruler President Robert Mugabe.

Ironic. By trying to prevent this, the government is actually hastening it.

[DogByte6RER]

[DogByte6RER]

[goldstategop]

All price controls will do is ensure empty shelves. No one is going to sell for a loss. The government can introduce rationing just like has been done in every other communist country. That's the essence of a socialist Nirvana. Misery in common.

"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

[DogByte6RER]

Exactly. Dagny Taggart called them "looters."