User Panel
Posted: 2/8/2006 5:30:45 AM EDT
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 |
|
|
|
|
Luckily, that nasty white government is long gone and can’t further oppress these people.
|
|
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 |
|
..........Zimbabwe...............like I care! Welcome to black rule! Somehow, the phrase "I told you so!" just isn't enough. Africa...........is still a shithole! |
|
|
Mugabe. Gotta love him. I guess we are seeing the success of giving the white farms to the "war veterans" and other reparations. |
|
Inflation bahh!! All that's important is that it's chocolate again.
|
|
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. |
|
Damn, I wish that would happen here. I could pay off my mortgage in a week!
|
|
White farmers were systematically disarmed before the
|
|
[Mugabe]Fixed ot for you.[/Mugabe]. |
|
|
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. |
|
|
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". |
|
|
Mugabe you F***** up! Time to bring Ian Smith and Rhodesia back
|
|
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. |
|
|
My Uncle had a tobacco farm in Rhodesia (fuck that Zimbabwe shit). It was a prosperous farm, he employed 21 farm hands who got a home and a small plot to cultivate for themselves as part of the job.
Well, Mugabe decided to run his opressive white ass off the land, so he moved to SA. Now those 21 families are destitute and the land has reverted back to scrub.... Rhodesia's problems are nothing to do with the 'White Man', Mugabe was handed a economically thriving country on a plate... this one was a 100% Black African 'Own Goal'. ANdy |
|
You know this isn't a problem that came about in 1980 and has never been resolved. Its been progressively worse with new laws almost every year.
2000 The goverment can take land without any compensation. Despite the fact over 90% of the land taken never has been resettled but made the personal property of Mugabe and his ministers. It was for this reason years ago, the UK pulled out the process all together. The most recent are the most horrific economically. In 2004, the government announced pretty much all land belonged to the government and those on it leasing it on a 99 year lease from the government. 2005, the ability, I won't say right here, to question your land being taken was removed. Now 2006, the current praposal is banks are mandated by law that they have to finance government selected resettlements. Now keep in mind, 90% of that resettlement is Mugabe's croonies. That pretty much says all the money is ours. Basically they first ran off any white person who owned land, then anyone who owned land, and now anyone who has money is leaving as fast as they can. Wonder why inflation is 6,000%? I guess the world is finding out how long a people can live on mere promises. Tj |
|
+1000 for fuck 'em. Where's Green Leader when you need him? |
||
|
Inflation is caused by government and Zimbabwe certainly proved that.
|
|
No thanks, 1 in 4 have HIV. |
|||
|
"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." |
||
|
When did they STOP flying?? |
|
|
No problem, when it gets real bad, we'll send help! Fuck that shithole
|
|
|
|
|
Yup. Fuck em. |
|
|
Well no sruprise there! His involvement in the process is equivalent to if we went into Iraq, proclaimed victory, and then pulled out the next week. Tj |
|||
|
+1000 |
|
|
No, but I can say that at some point gUeSs who will shovel more $ down that rathole to try and bail them out. |
|
|
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.
|
|
Mugabe has made any citizen with $10 US a millionaire. Seems like a great success story to me.
|
|
Sure has, well by 1963 standards. Of course, it may be a tad difficult to get someone to pay $1,000,000 for land the government can take at their whim with no compensation. |
|
|
Bush? |
||
|
Zimbabwe is the next Cambodia with farther reaching concenquences. The bloodletting there will be the stuff of the darkest legends.
|
|
+1 And the Halliburton anti-chocolate machine |
|
|
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 ¶ |
|
|
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. |
|
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.