Zimbabwe (remembered by fossils like yours truly as Rhodesia, the wealthiest country in Africa...also known as Africa's breadbasket).
In 1980 the Z$ was worth MORE than the US$.
The Z$ of May 2008 had lost 99.99% of its purchasing power by November 2008.
What happened?
- Politics (Marxist Socialism under Bobby Mugabe).
- Printing bales of paper money to fill the gaping hole socialist politics made in the economy.
Does anything sound familiar or resonate here? But-but-but it can't happen HERE you say.
- Sin loi...it has already started.
Let's see now...since March 2009 US stocks have risen 60%, but the US$ has fallen 15% (and it's not nearly done dropping yet). Earning more of a devalued currency. Such a deal!
Kudos to Team Obama...and a reminder: November approaches!
Friday, 16 October 2009
When more = less...............from Rico
Subscribe to:
Post Comments (Atom)
2 comments:
November 11th is Rhodesian Independence Day. I will be on parade with several former comrades to remember all those fallen, to remember the thousands murdered since the British proudly declared the emergence of the wonderful Mugabe creation of the ruin called Zimb....., to remember the likes of Ian Smith who was amongst the first to come to Britains aid when threatened from Europe.
Rhodesia was beautiful, rich not through mneral wealth, but the endeavour if it's people.
At least I can say I was there, and say it with pride.
As near as I remember, that's XIN loi....
Post a Comment