Posted on 02/21/2008 6:32:06 AM PST by TigerLikesRooster
Really, the only thing left for Zimbabwe is hope.
Obama probably admires Mugabe and wants to be just like him if elected president.
It’s down about 25% from 2000. It’s down about 50% from the Euro but not against the basket. It went up like 20% from 2000 to 2001 so it’s drop from when Bush took office is a big exaggerated. I should note the dollar is also only down about 25% from 10 years ago. The $ was basically overpriced in 2001 & 2002 as the Euro was at it’s weakest and 9-11 sent flight to safety.
Umm... I think that’s worth quite a bit more than the Zimbabwean money.
:-P
How is the annual rate of inflation computed? Are they saying that the current daily rate of inflation, raised to the 365th power, would yield 100,000%, or that the current daily rate of inflation, times 365, would yield 100,000%?
If the former, that would mean that inflation was about 1.91% a day. At such a rate, $1,000 a year from now would buy about the same quantity of goods as $1 now. Clearly an insanely dangerous level of inflation, but not one that would totally preclude the day-to-day use of currency.
I didn’t say everything was just fine and out of control spending wasn’t bad (hey, I’m a right wing libertarian so of course I dislike Bush/Republicans for their spending) but let’s not be hysterical about the dollar dropping from when it was overpriced. I prefer to look at it from it’s norm which is down about 25%, not 50%. If you look at the rates from just the countries we mainly import from (China, Japan, etc), the drop has been even less.
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