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Posted: 2/8/2006 5:30:45 AM EDT
[Last Edit: 2/8/2006 5:31:09 AM EDT by raven]
You dont see inflation like this much any more.

Zimbabwe: Living with hyperinflation

The governor of Zimbabwe's reserve bank last week admitted that his country is in the grip of hyperinflation, with some economists predicting an inflation rate of 1,000% within two months.

This week saw the introduction of a so-called "bearer cheque" worth 50,000 Zimbabwean dollars - 50 times the highest available banknote - but actually worth around half a US dollar and only enough to buy a loaf of bread.

BBC World Service's Outlook programme spoke to five Zimbabweans, all of whom did not wish to be named, about what life is like living under rampant hyperinflation.

THE TAXI DRIVER

Now, we can hardly even look after our families.

When we talk of inflation, almost everyone is being affected.

It's as if our customers have left the country, because most of the people are walking in and out of town.

It's now even worse when you try to increase the fares, because already people can't afford them.

I buy five litres of petrol from the black market. This is normally 650,000 - 700,000.

On a good trip, that five litres can raise 1 million - but additional costs leave around 250,000 - absolutely nothing.

That is barely enough to feed yourself, let alone your family.

It's like we are living hand-to-mouth.

THE STUDENT

When I go to withdraw my money, I have to wait around 30 minutes because there are so many people waiting.

It's so difficult.

Maybe you want 10 million but they only give you 2.8, because there is not enough at the bank.

THE LECTURER

Children in Harare play in uncollected rubbish
Hyperinflation has meant an end to rubbish collections
It's a very strange environment.

There are a lot of pay rises, but they are meaningless.

They are always eroded the minute they give us the pay rise.

Also, considering we have so much to pay - we have parents in the countryside, and we have families - it doesn't work.

People are willing to lend money, but they are not willing to lend it for nothing. It's usually at a rate of 90 or 100%.

Sometimes these are your relatives or people you work with, taking advantage of this.

People are cannibalising each other.

THE MOTHER

Because my income hasn't risen as much as the prices in the shops, we have had to adjust quite a bit.

The things that we buy - the groceries at home, the things we get for our two children - we have to buy immediately, as soon as we get the money.

We know that if we wait a bit, the prices are going to go up again. If we wait another week, we will not be able to afford anything.

People are taking the money out in suitcases or carrier bags.

THE BUSINESSMAN

I don't even know if I'll have a job at the end of the week, because there is so much uncertainty. There are so many companies closing down.

It is quite interesting to see people going in banks with bags and sometimes even suitcases.

You know that there are large amounts of money in there - which unfortunately are not going to buy much.

news.bbc.co.uk/1/hi/world/africa/4665854.stm
Link Posted: 2/8/2006 5:37:12 AM EDT
Note to self: Time to short my Zim dollar reserve.

G
Link Posted: 2/8/2006 5:38:00 AM EDT
I wonder how long before the bullets start flying.
Link Posted: 2/8/2006 5:45:46 AM EDT
they have bullets?
Link Posted: 2/8/2006 5:48:42 AM EDT
[Last Edit: 2/8/2006 5:49:40 AM EDT by KlubMarcus]

Originally Posted By HillBillySasquatch: they have bullets?
They know how to calculate percentages in Zimbabwe?
Link Posted: 2/8/2006 5:50:20 AM EDT
Luckily, that nasty white government is long gone and can’t further oppress these people.
Link Posted: 2/8/2006 5:54:11 AM EDT
Link Posted: 2/8/2006 5:55:49 AM EDT

6000% inflation in Zimbabwe


..........Zimbabwe...............like I care!

Welcome to black rule!

Somehow, the phrase "I told you so!" just isn't enough.

Africa...........is still a shithole!
Link Posted: 2/8/2006 5:55:54 AM EDT


I blame Jimmy Carter. No really, I do.
Link Posted: 2/8/2006 5:56:11 AM EDT

Mugabe. Gotta love him. I guess we are seeing the success of giving the white farms to the "war veterans" and other reparations.

Link Posted: 2/8/2006 5:56:51 AM EDT
Inflation bahh!! All that's important is that it's chocolate again.
Link Posted: 2/8/2006 5:58:40 AM EDT
[Last Edit: 2/8/2006 5:59:42 AM EDT by TheCynic]
Think that could never happen here?

Read up on the new Fed chief, Ben Bernanke, and his strategy of stomping out deflation via Fed-induced hyperinflation.
Link Posted: 2/8/2006 5:59:35 AM EDT
Damn, I wish that would happen here. I could pay off my mortgage in a week!
Link Posted: 2/8/2006 6:05:01 AM EDT
White farmers were systematically disarmed before the government thugs took the commercial farms and land – not a racist statement, simply the truth. Land/agriculture was the only thing keeping Zim going. The government thugs have destroyed that economy, and is severely damaging It's neighbours too. There is also plans for similar land reform thugs taking land illegally from South African commercial farmers.
Link Posted: 2/8/2006 6:07:44 AM EDT

Originally Posted By tfod:
Luckily, that nasty white government evil farmers are long gone and can’t further oppress these my people by stealing their land.



[Mugabe]Fixed ot for you.[/Mugabe].
Link Posted: 2/8/2006 6:08:20 AM EDT

Originally Posted By BillofRights:
Damn, I wish that would happen here. I could pay off my mortgage in a week!



Yeah, but then buying food for the week would cost as much as your house did.

Of course, your salary would probably be raised to $10,000/hr.
Link Posted: 2/8/2006 6:44:24 AM EDT
[Last Edit: 2/8/2006 6:46:48 AM EDT by Spade]

Originally Posted By TheCynic:
Think that could never happen here?

Read up on the new Fed chief, Ben Bernanke, and his strategy of stomping out deflation via Fed-induced hyperinflation.



Man, if it's like Snow Crash I might not mind.


Anyway, Zim's screwed, but I don't care. This is a case of "Asking for something, and then getting it".
Link Posted: 2/8/2006 6:51:29 AM EDT
Mugabe you F***** up! Time to bring Ian Smith and Rhodesia back
Link Posted: 2/8/2006 6:59:09 AM EDT

Originally Posted By BayEagle:

I blame Jimmy Carter. No really, I do.


What happend to former Atlanta mayor Andrew Young. I remember he put his 2 cents into this mess.

Be careful what you wish because it may come true, and it would not be what you expected.
Link Posted: 2/8/2006 7:03:01 AM EDT
[Last Edit: 2/8/2006 7:03:37 AM EDT by RUSSIANCATKILLA]

Originally Posted By HillBillySasquatch:
they have bullets rocks?



fixed it
Link Posted: 2/8/2006 7:03:06 AM EDT
Link Posted: 2/8/2006 7:03:48 AM EDT
Link Posted: 2/8/2006 7:04:13 AM EDT

Originally Posted By TUMOR:

6000% inflation in Zimbabwe


..........Zimbabwe...............like I care!

Welcome to black rule!

Somehow, the phrase "I told you so!" just isn't enough.

Africa...........is still a shithole!



+1000 for fuck 'em.

Where's Green Leader when you need him?
Link Posted: 2/8/2006 7:05:27 AM EDT
Inflation is caused by government and Zimbabwe certainly proved that.
Link Posted: 2/8/2006 7:06:22 AM EDT
Link Posted: 2/8/2006 7:08:28 AM EDT

Originally Posted By warlord:

Originally Posted By BayEagle:

I blame Jimmy Carter. No really, I do.


What happend to former Atlanta mayor Andrew Young. I remember he put his 2 cents into this mess.

Be careful what you wish because it may come true, and it would not be what you expected.





"Andrew Young, later stated that contributing to political and racial peace in Zimbabwe was his most gratifying experience during his tenure at the United Nations."
Link Posted: 2/8/2006 7:08:30 AM EDT

Originally Posted By Bama-Shooter:
I wonder how long before the bullets start flying.



When did they STOP flying??
Link Posted: 2/8/2006 7:14:48 AM EDT
No problem, when it gets real bad, we'll send help! Fuck that shithole country continent!
Link Posted: 2/8/2006 7:26:18 AM EDT

Originally Posted By BayEagle: "Andrew Young, later stated that contributing to political and racial peace in Zimbabwe was his most gratifying experience during his tenure at the United Nations."
The failure of the black race! The white man's burden. Whoa baby!
Link Posted: 2/8/2006 8:39:29 AM EDT

Originally Posted By TomJefferson:
Yep, redistribution of wealth by force based on racial guidelines has really worked there. First it reduced the number one agricultural export country in Africa to famine and now hyperinflation. The garden spot of Africa has been turned into a shithole.

As for bullets flying, well its not their style unless the victim is unarmed and even then it has typically been machetes while they slept in their beds.

Not to be cruel but they made this bed and they can sleep in it.

Tj






Yup.

Fuck em.
Link Posted: 2/8/2006 12:22:25 PM EDT
Link Posted: 2/8/2006 12:24:54 PM EDT

Originally Posted By TomJefferson:
Yep, redistribution of wealth by force based on racial guidelines has really worked there. First it reduced the number one agricultural export country in Africa to famine and now hyperinflation. The garden spot of Africa has been turned into a shithole.

As for bullets flying, well its not their style unless the victim is unarmed and even then it has typically been machetes while they slept in their beds.

Not to be cruel but they made this bed and they can sleep in it.

Tj






+1000
Link Posted: 2/8/2006 12:25:55 PM EDT
Can you say...barter economy?
Link Posted: 2/8/2006 12:30:18 PM EDT

Originally Posted By Zippy_The_Wonderdog:
Can you say...barter economy?



No, but I can say that at some point gUeSs who will shovel more $ down that rathole to try and bail them out.
Link Posted: 2/8/2006 12:44:12 PM EDT
Maybe they will all kill themselves off and then we could then get the land for cheap. I could use a 500,000 acre Villa.
Link Posted: 2/8/2006 12:46:13 PM EDT
This is obviously Bush's fault.
Link Posted: 2/8/2006 12:48:54 PM EDT
Mugabe has made any citizen with $10 US a millionaire. Seems like a great success story to me.
Link Posted: 2/8/2006 12:51:48 PM EDT
I am Jack's give-a-fuck-o-meter, and I am registering zero.
Link Posted: 2/8/2006 12:57:55 PM EDT
Link Posted: 2/8/2006 3:37:48 PM EDT

Originally Posted By callgood:

Originally Posted By Zippy_The_Wonderdog:
Can you say...barter economy?



No, but I can say that at some point gUeSs who will shovel more $ down that rathole to try and bail them out.



Bush?
Link Posted: 2/8/2006 3:46:11 PM EDT
Zimbabwe is the next Cambodia with farther reaching concenquences. The bloodletting there will be the stuff of the darkest legends.
Link Posted: 2/8/2006 3:56:38 PM EDT

Originally Posted By mcnielsen:
This is obviously Bush's fault.



+1

And the Halliburton anti-chocolate machine
Link Posted: 2/8/2006 4:13:45 PM EDT

Originally Posted By BadCompany:
Zimbabwe is the next Cambodia with farther reaching consequences. The bloodletting there will be the stuff of the darkest legends.



and I really don't care.
I've heard of so much there, it just doesn't matter anymore
tired of seeing the same thing time & time again, feed 1 generation of pot bellied kids to grow up and make pot bellied kids ^3
tired of Uncle Sugar sending them money for some troglodyte tyrant to retire a billionaire to Geneva after arming a group of sadists to torture&kill everyone decent

if H5N1 takes 1/3 of their healthy and 90% of the HIV+, then it is a gift from GOD.



wganz




Link Posted: 2/8/2006 4:38:20 PM EDT
I wonder if they will reach the record Germany set in the 1920's?

That was nasty. A Trillion Mark coin was minted. Then Herr Schicklegruber became Leader and all of Europe went to hell.
Link Posted: 2/8/2006 4:46:02 PM EDT

Originally Posted By HillBillySasquatch:
they have bullets?

Yup, Cheetah.
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