It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Zimbabwe inflation hits 2.2m per cent

page: 1
0

log in

join
share:

posted on Jul, 16 2008 @ 06:18 AM
link   

Zimbabwe inflation hits 2.2m per cent


www.news.com.au

ZIMBABE'S annual rate of inflation has hit a new record high of 2.2 million per cent, the central bank's governor Gideon Gono said today.

"Statistics provided by the CSO (Central Statistical Office) indicate that it is now at 2.2 (million per cent)," Mr Gono said in a speech in Harare.
(visit the link for the full news article)




posted on Jul, 16 2008 @ 06:18 AM
link   
I tend to think that most people have some notion of common sense. Given that systems and procedures are both made by people, I tend to think that most systems should also have common sense.

However, this article is so ridiculous, beyond belief, that I struggle to reconcile that it is a factual story?

How can a system be such a mockery to generate inflation rates this high? These figures are absurd and represent a complete crisis - a breakdown of all common sense in every possible way.

Screw money and screw this world, with numbers like this. It's patently stupid!

www.news.com.au
(visit the link for the full news article)



posted on Jul, 16 2008 @ 06:40 AM
link   
2.2, million?! That's crazy! It's like the hyper inflation in Germany in the Great Depression. Makes people desperate, and when they're desperate they'll accept any leader who says they'll put things straight...



posted on Jul, 16 2008 @ 07:09 AM
link   
At what point do they just stop using money? I mean, wouldn't they be forced to return to barter and trade way before someone need an 18 wheeler full of cash to buy a loaf of bread?

On a side note- I'm happy there is a place in the world that teachers are getting paid as much as they think they're worth...



posted on Jul, 16 2008 @ 07:38 AM
link   
Sad to say that this is very true - I even have a couple of 500 million Zim dollar notes ... an interesting novelty item some day in the future.

I am surprised they are admitting to their inflation rate being in the millions as that was the rate that was speculated as the "true" rate by analysts. The Zim government was releasing figures of approximately 125 000 a couple of months ago.

Don't forget last year they even shaved 3 zeroes off their money. Guess what, it didn't work!

Inflation is so bad that prices in stores go up several times a day. In fact they don't even bother using price stickers on their items anymore.

BTW I am Zim born but have lived in South Africa for a long time now.



new topics

top topics
 
0

log in

join