africawinsagain...
"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
If per horrible chance Obama is ever elected president, we may end up living in Zimbabwe West.
First reference to Weimar Republic wins a prize.
Oh wait, that’s me!
I will pay myself ten silver coins.
Just wow.
It’s been a barter economy for awhile.
Somewhere, Ayn Rand smiles.
Communists,socialists Marxists;they all ignore human nature and economic reality.
The biggest slavery to ever exist in the world is various forms of communism.
“in a bid to stem galloping inflation”
Well that government plan didn’t work out too well, did it?
Manufacturers have said they cannot afford to sell goods at below the cost of producing them.
This is Atlas Shrugged come to life. A MUST READ for all conservatives everywhere.
Its Bush and Americas fault.
They got the white farmers though!- that’s what the blacks wanted even more than prosperity for themselves.
They destroyed the very people that could have taught black farmers how to succeed.
A grim lesson in the effects of racial hate over cooperation.
A person could make good money with a loan like that. Buy goods and wait a few days to sell them, pay off the loan and interest with money left over, but the profit would have to be spent quickly.
It’s almost as bad as the Planet Algon:
This is the planet Algon, fifth world in the system of Aldebaran, the Red Giant in the constellation of Sagittarius. Here an ordinary cup of drinking chocolate costs four million pounds, an immersion heater for the hot-water tank costs over six billion pounds. and a pair of split-crotch panties would be almost unobtainable. A simple rear window de-misting device for an 1100 costs eight thousand million billion pounds and a new element for an electric kettle like this would cost as much as the entire gross national product of the United States of America from 1770 to the year 2000,
“A country looking at 100,000% inflation by year’s end. In which a business loan is available at 25% interest.”
Wow. Sounds like a pretty sweet deal to me. Borrow the equivalent of $10,000 in zimbabwean currency, convert it to $10,000 immediately, and in a year convert $15 dollars back into zimbabwean currency and pay the loan back in full.
Qwinn
the 15000% presumably annualized rate works out to like 50% a DAY!
Meaning you have to make sure you spend money the second you get your hands on it, if you can find something to buy.
I guess the 25% interest is to cover the cost of the paper that they use to print the funny-money.
What’s incalculable is the ERA for a mid-innings Cubs pitcher.
africawinsagain... Total economic collapse. Economic activity will soon be based on who has the biggest round rocks to trade with. You know, the giant stones carved like discs with the hole in the middle.
Last month, the central bank offered loans, known as Bacossis, to businesses at 25% interest to restore supplies to shops, AP news agency reports.so now they not only want the stores to sell below cost... they want them to take out a LOAN to sell at below cost???
sounds like klintoon economics.
Can you buy ZIM money here in the States? I imagine some entrepreneur could sell sets of ZIM currency as a kind of sad collectors item. Hm. Maybe I’ll do that.
This is not normal inflation, this is a collapsing currency and an economy shifting to the barter system.
The end will come when the govt is out of resources and is unable to keep their soldiers fed.