Zimbabwe inflation rate 100,000 percent

hbarcat · #1 02-20-2008, 10:02 PM

I've been following with grim fascination the story of Zimbabwe's collapse for a few years, now. Their inflation rate just passed 100,000 percent.

I have no point to make in posting this, but I'm just amazed at this colossal train wreck taking place in slow motion. There is no hope for recovery at this point for Zimbabwe, and the only outcome is for the country to completely collapse into the dirt and to start over from scratch and hope that not too many people die of starvation in the process.

http://www.telegraph.co.uk/news/main...21/wzim121.xml

**SoComSurfing** · #2 02-20-2008, 10:12 PM

Wow. That makes Bolivia's hyperinflation in the 80s/90s look like nothing. Still isn't matching the rates seen in the Balkans in the early 90s, though. Wiki puts the figure at 5x10^15. I don't think I'd seen a figure that high before. You might be right in that the only plan of escape at this point is to collapse and start over.

ProgRapture · #3 02-20-2008, 10:44 PM

Sort of related to the topic...My uncle was visiting Ukraine, and the cops there would pull him over just because he was American, and he ended up not only getting pulled over like 6 times in one day, but their inflation was so bad that he was able to bribe himself out of all those tickets by giving each one a pack of American cigarettes! Marlboro Lights, to be specific.
I hear stories of how some countries have it so bad that the best form of currency is American smokes. That's just crazy.

BartmanPDX · #4 02-20-2008, 10:55 PM

And I thought it was bad in Zambia when I was there in the early '90s -- over 300% IIRC. They had the prices in the stores posted on chalkboards at the front so they could change them quickly. I briefly went over to Zimbabwe at the time, and it was a mess already.

It's hard to think of many leaders who rank below Mugabe in screwing up their country. He may not have had the flair of Mobutu in Zaire, but he's certainly wrecked his country about as completely as any of the all-too-often sorry crowd of "liberating" African leaders.

iamlowsound · #5 02-20-2008, 11:36 PM

Quote:

Originally Posted by ProgRapture

Sort of related to the topic...My uncle was visiting Ukraine, and the cops there would pull him over just because he was American, and he ended up not only getting pulled over like 6 times in one day, but their inflation was so bad that he was able to bribe himself out of all those tickets by giving each one a pack of American cigarettes! Marlboro Lights, to be specific.
I hear stories of how some countries have it so bad that the best form of currency is American smokes. That's just crazy.

Or vodka in the case of Russia. I did a project on Zimbabwe's inflation problem a few years ago in high school, don't remember much of it, only that it wasn't good then, much less now.

lowsound

Tsal · #6 02-21-2008, 03:25 AM

Quote:

Originally Posted by ProgRapture

.. bribe himself out of all those tickets by giving each one a pack of American cigarettes! Marlboro Lights, to be specific.
I hear stories of how some countries have it so bad that the best form of currency is American smokes. That's just crazy.

Reminds me of the story of two guys who decided to drive a Land Rover from Finland to Japan by going through Russia via Siberia - they got their diesel from trans-siberian highway construction crews by trading it to a few cans of western beer.

Fassa Albrecht · #7 02-21-2008, 05:23 AM

I know that in Russia most shops accept NOTHING but European currency and dollars because the reuble is next to useless. It works out as more profitable for the shopkeepers too because trading and imports then become much easier.

peaveyuser · #8 02-21-2008, 04:31 PM

heheh reuble

MakiSupaStar · #9 02-21-2008, 04:32 PM

Pfft. That's just a couple of points above ours.

guitfiddle0409 · #10 02-21-2008, 04:47 PM

Quote:

Originally Posted by hbarcat

I've been following with grim fascination the story of Zimbabwe's collapse for a few years, now. Their inflation rate just passed 100,000 percent.

I have no point to make in posting this, but I'm just amazed at this colossal train wreck taking place in slow motion. There is no hope for recovery at this point for Zimbabwe, and the only outcome is for the country to completely collapse into the dirt and to start over from scratch and hope that not too many people die of starvation in the process.

http://www.telegraph.co.uk/news/main...21/wzim121.xml

As long as that idiot Marxist, Robert Mugabe, rules that sorry nation, their economic woes will continue.

dragoon419 · #11 02-21-2008, 07:21 PM

It's because Mugabe eats puppies. White puppies.

peaveyuser · #12 02-21-2008, 07:24 PM

Quote:

Originally Posted by dragoon419

It's because Mugabe eats puppies. White puppies.

wow

dragoon419 · #13 02-21-2008, 07:37 PM

Quote:

Originally Posted by peaveyuser

wow

It's a joke. I probably should have included a smiley.

Edit: smiley added.

Dr. Cheese · #14 02-21-2008, 09:16 PM

Robert Mugabe has disappointed me more than any leader I can think of in my lifetime. I remember in 1980 when he came to power. It was such a victory against colonialism in SOuthern Africa! The problem, however, is that Mugabe seems to think Zimbabwe is his personal property, and he has been willing to ruin it rather than let go of power.

He stands in such stark contrast to Nelson Mandela, who was guerilla leader just like Mugabe, but once he got power, he followed the George Washington model and governed for a fixed time and then retired despite the fact that darn near the whole country would have voted him in for the rest of his life if he had wanted it that way.

invader3k · #15 02-22-2008, 06:57 AM

Zimbabwe should go back to being Rhodesia, and let the British take control again. At least their economy and infrastructure would be rebuilt. Too bad Ian Smith passed away recently.

Dr. Cheese · #16 02-22-2008, 06:59 AM

Quote:

Originally Posted by invader3k

Zimbabwe should go back to being Rhodesia, and let the British take control again. At least their economy and infrastructure would be rebuilt. Too bad Ian Smith passed away recently.

Hell no!

There is not a damn thing wrong with African control. the problem is a corrupt ruler, Robert Mugabe.

MakiSupaStar · #17 02-22-2008, 11:08 AM

Quote:

Originally Posted by Dr. Cheese

Hell no!

There is not a damn thing wrong with African control. the problem is a corrupt ruler, Robert Mugabe.

+1.

GregC · #18 02-22-2008, 11:29 AM

Quote:

Originally Posted by Dr. Cheese

Hell no!

There is not a damn thing wrong with African control. the problem is a corrupt ruler, Robert Mugabe.

+2!

dragoon419 · #19 02-22-2008, 11:30 AM

Quote:

Originally Posted by Dr. Cheese

Hell no!

There is not a damn thing wrong with African control. the problem is a corrupt ruler, Robert Mugabe.

+100

Definitely!

Ian Smith wouldn't do any better. That and, he was as much of a racist as Mugabe. His rule would just lead to more segregation.

Brendan · #20 02-22-2008, 11:31 AM

Quote:

Originally Posted by SoComSurfing

Wow. That makes Bolivia's hyperinflation in the 80s/90s look like nothing. Still isn't matching the rates seen in the Balkans in the early 90s, though. Wiki puts the figure at 5x10^15. I don't think I'd seen a figure that high before. You might be right in that the only plan of escape at this point is to collapse and start over.

What about the post WWII inflation of...shoot...the Dutch? It was too expensive to print money at some point, and so they went to stamps, and had like, denominations of trillions (yes, trillions). I think there was a 6 trillion dollar stamp.