seansasLCY
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Inflation In Zimbabwe = 66,212.3%!

Thu Feb 14, 2008 10:50 pm

According to the BBC the annual inflation rate in Zimbabwe is 66,212.3%!!

http://news.bbc.co.uk/1/hi/business/7244769.stm

Makes you wonder why the international community and Africa won't put more pressure on Mugabe. Zimbabwe was once a sucess story for Africa and look at what he has done.
 
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LTU932
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RE: Inflation In Zimbabwe = 66,212.3%!

Thu Feb 14, 2008 10:51 pm

Wasn't some time ago the inflation rate in Zimbabwe at over 70,000+%?
 
DAL767400ER
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RE: Inflation In Zimbabwe = 66,212.3%!

Thu Feb 14, 2008 10:57 pm



Quoting LTU932 (Reply 1):
Wasn't some time ago the inflation rate in Zimbabwe at over 70,000+%?

Not sure about that, but the "Internationaler Währungsfond" (don't know the English term) actually estimates inflation in Zimbabwe to be at 150.000  Wow! !

Quoting SeansasLCY (Thread starter):
Makes you wonder why the international community and Africa won't put more pressure on Mugabe.

Mugabe should've gotten a bullet into the head years ago.
 
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LTU932
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RE: Inflation In Zimbabwe = 66,212.3%!

Thu Feb 14, 2008 11:24 pm



Quoting DAL767400ER (Reply 2):
Not sure about that

Come to think of it, I may have confused 70,000% with 7000% a few months ago.

Quoting DAL767400ER (Reply 2):
the "Internationaler Währungsfond" (don't know the English term) actually estimates inflation in Zimbabwe to be at 150.000

Holy shit! Is the International Monetary Fund serious, 150,000%?  Wow!

Quoting DAL767400ER (Reply 2):
Mugabe should've gotten a bullet into the head years ago.

 checkmark   checkmark   checkmark 
 
Pyrex
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RE: Inflation In Zimbabwe = 66,212.3%!

Thu Feb 14, 2008 11:39 pm



Quoting SeansasLCY (Thread starter):
Zimbabwe was once a sucess story for Africa and look at what he has done.

I believe what you meant was rather "Africa was a success story when the whites were in charge and now that the blacks have the control it is all screwed."  Yeah sure

The fact is, despite going downhill, Zimbabwe is only now reaching the levels of some other African countries. And overall, on the grand scheme of things, Mugabe is just your run-of-the-mill African dictator, no better or no worse than most others in charge. The fact that he is getting all this flak in international summits while other dictators are wined and dined is merely a reflection of how mad Tony Blair and pal got when he expelled his farmer friends - had the farmers he expelled been black no-one would have paid notice.
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a380us
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 4:00 am

Wait so what is i worth roughly compared to the USD?
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MUWarriors
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 4:57 am



Quoting A380US (Reply 5):
Wait so what is i worth roughly compared to the USD?

1USD = 30,000 Zimbabwe Dollars. In 1980 one Zimbabwe Dollar was worth more than one USD. Of course this isn't really accurate because with an official inflation rate of over 60,000%, and a real inflation rate of over 100,000% their money is, for all intents and purposes, worthless outside of Zimbabwe.

Quoting Pyrex (Reply 4):
I believe what you meant was rather "Africa was a success story when the whites were in charge and now that the blacks have the control it is all screwed."

If that is what he meant he was mistaken. Zimbabwe was well run, and was Africa's jewel until around 2000, 20 years after independence. But Mugabe's policies since than have ruined the economy to the extent where 80% of people in the country live below the poverty line. A loaf of bread costs more than 7% of an average worker's monthly salary.

Quoting Pyrex (Reply 4):
The fact is, despite going downhill, Zimbabwe is only now reaching the levels of some other African countries.

False. The life expectancy for a woman in Zim is 34 years (largely due to AIDS, but Mugabe's policies on AIDS have been horrible, to be fair many other African leaders are in the same boat on that one) which is the lowest in the world. Their inflation rate is the highest in the world, and likely the highest non-wartime inflation since Germany between the World Wars. Famine rules the country on what were once some of the most fertile and productive farms in Africa. Zimbabwe is the bottom of the barrel now, which is a shame because it held so much potential. It is not a black vs. white thing, it is a leader who started out as a fine leader for a new country letting power go to his head and messing the whole thing up.

Quoting Pyrex (Reply 4):
And overall, on the grand scheme of things, Mugabe is just your run-of-the-mill African dictator, no better or no worse than most others in charge. The fact that he is getting all this flak in international summits while other dictators are wined and dined is merely a reflection of how mad Tony Blair and pal got when he expelled his farmer friends - had the farmers he expelled been black no-one would have paid notice.

I have to believe any economy that has collapsed the way Zimbabwe's has would be noticed regardless of who the farmers were.
 
slider
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 5:24 am



Quoting Pyrex (Reply 4):
I believe what you meant was rather "Africa was a success story when the whites were in charge and now that the blacks have the control it is all screwed."

If the shoe fits...

See, I don't care about being poltically correct. That SOB Mugabe should be taken out, period. The UN Debating Club and Coffee House is too busy shaking down 1st world countries for dough about global warming and other scams, whilst true needs around the world are summarily ignored. Zimbabwe, Rwanda, et al, all epitomize just how spineless and gutless the UN is.

Time for someone to just go in and take control. Say what you will about old Euro colonialism, but there are a lot of benefits that exist today because of that. Freaking Zimbabwe needs some civilization, and yes, I'm willing to go on the pretentious limb to say that civilization can't be what it is right now, because that isn't civilized.
 
CupraIbiza
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 6:24 am



Quoting Slider (Reply 7):
The UN Debating Club and Coffee House is too busy shaking down

Times up for the UN - shit or get off the pot.

Could the US kick the UN out of New York? Now that would send a sign......
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scrubbsywg
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 7:09 am

i remember reading about hyperinflation on wikipedia a while ago. unfortunately, economics and me don't jive, and i dont fully understand it, but here are some of the crazy inflations of the past:

Rates of inflation of several hundred percent per month are often seen. Extreme examples include:

* Germany in 1923 when the rate of inflation hit 3.25 ×10^6 percent per month (prices double every 49 hours)
* Greece during its occupation by German troops (1941-1944) with 8.55 × 10^9 percent per month (prices double every 28 hours).
* The most severe known incident of inflation was in Hungary after the end of World War II at 4.19 × 10^16 percent per month (prices double every 15 hours).
* More recently, Yugoslavia suffered 5 × 10^15 percent inflation per month (prices double every 16 hours) between 1 October 1993 and 24 January 1994.

from wikipedia...

wow.
 
Mir
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 7:24 am



Quoting Slider (Reply 7):
Zimbabwe, Rwanda, et al, all epitomize just how spineless and gutless the UN is.

The UN is only as good as its member nations. It's the civilized world that is too spineless and gutless to deal with Mugabe.

-Mir
7 billion, one nation, imagination...it's a beautiful day
 
seansasLCY
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 11:30 am



Quoting MUWarriors (Reply 6):
Zimbabwe was well run, and was Africa's jewel until around 2000, 20 years after independence. But Mugabe's policies since than have ruined the economy to the extent where 80% of people in the country live below the poverty line.

This is what i meant, i was not talking about black people or white people just the fact Zimbabwe in general was doing very well, now however Zimbabwe is in ruins.
 
Ari
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 11:46 am



Quoting MUWarriors (Reply 6):
their money is, for all intents and purposes, worthless outside of Zimbabwe.

Yup, it's all about foreign exhange really!! And it seems like what's happened is just going round in a vicious circle!

ari
 
SBBRTech
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 12:09 pm

Oh, the godforsaken old days of hyper inflation. I remember my parents rushing to the supermarket seconds after getting their paychecks 'cos money was losing value by the minute ( the record high happened in 1989: inflation rate in Brazil was 1972,91% ).
You could be reaching for a product in one end of the aisle while the market staff was tagging higher prices on the other end. Every now and then a new currency was issued and zeros were cut (from 1942 to 1995: 10 different currencies).
If 2.000% was bad I can't begin to imagine what is to live under 150.000%...Mugabe must be deleted now!
"I'm beginning to get the hang of this flying business" - C3PO
 
Elite
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RE: Inflation In Zimbabwe = 66,212.3%!

Fri Feb 15, 2008 12:18 pm

I believe this is a quote from him:

"Where there is not enough money we will print it"

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