I've been condemned by traditional economists who said that printing money is responsible for inflation. ...I found myself doing extraordinary things that aren't in the textbooks.
No, just kidding, that's the chief central banker of Zimbabwe.
Showing posts with label 50 million zimbabwe dollars - you can buy a dvd. Show all posts
Showing posts with label 50 million zimbabwe dollars - you can buy a dvd. Show all posts
Sunday, January 25, 2009
Find yourself (through the) printing (of) money
Ben Bernanke, on the bailout(s):
No, just kidding, that's the chief central banker of Zimbabwe.
No, just kidding, that's the chief central banker of Zimbabwe.
Friday, January 16, 2009
Monday, September 22, 2008
Mugabe '08!
[S]ome surveys require no analysis whatsoever. A good example emerged earlier today from the American Research Group, which asked Americans a number of questions on an issue that has been dominating headlines of late. One of them — “Do you think the national economy is getting better, staying the same, or getting worse? — was answered thusly:
In other words, zilch, zero, nothing (apart from the 5 percent who remain undecided). Not one glass half-full among the 1,100 people surveyed. The ruling was unanimous, and also obvious — economic news is routinely bad these days...
It was also slightly more agreement than Zimbabweans could muster when asked about their own economy, which failed long ago. In August, a Gallup poll showed the country’s bleak views on the economy, but 1 percent of 1,000 polled somehow held the view that things were getting better.
No Americans say that the national economy is getting better, 13% say it is staying the same, and 82% say the national economy is getting worse.
In other words, zilch, zero, nothing (apart from the 5 percent who remain undecided). Not one glass half-full among the 1,100 people surveyed. The ruling was unanimous, and also obvious — economic news is routinely bad these days...
It was also slightly more agreement than Zimbabweans could muster when asked about their own economy, which failed long ago. In August, a Gallup poll showed the country’s bleak views on the economy, but 1 percent of 1,000 polled somehow held the view that things were getting better.
Friday, August 1, 2008
100 billion Zimbabwe dollars - you can ride the bus
Harare diary: No more trillionaires
Just last week, bus fares changed three times!
We started the week paying Z$50bn, then it was Z$70bn, then Z$100bn.
Wednesday, July 2, 2008
Annudder Crushing Blow
German Company Stops Bank Note Shipments to Zimbabwe
Germany's Development Minister Heidemarie Wieczorek-Zeul made an official request last week that the paper shipments stop, saying that the money was helping to keep Mugabe in power.
Yup, dis shud finally end it...
Germany's Development Minister Heidemarie Wieczorek-Zeul made an official request last week that the paper shipments stop, saying that the money was helping to keep Mugabe in power.
Yup, dis shud finally end it...
Wednesday, June 18, 2008
Puts Powerball to shame
LATEST! Lottery Numbers
The winning Lottery numbers for the 14th of June 2008 are:
Bonus ball number : 36
4 10 34 35 37 47
6 Correct Numbers - No winning entry.
Next jackpot is estimated @ ZW$40 trillion
The winning Lottery numbers for the 14th of June 2008 are:
Bonus ball number : 36
4 10 34 35 37 47
6 Correct Numbers - No winning entry.
Next jackpot is estimated @ ZW$40 trillion
Saturday, June 14, 2008
"Mugabe pledges to fight 'lackeys'" (Fung?)
Sounds like we can count on a fair election:
President Robert Mugabe has vowed that the main opposition party will never lead Zimbabwe and said he was prepared to "go to war" for his country.
President Robert Mugabe has vowed that the main opposition party will never lead Zimbabwe and said he was prepared to "go to war" for his country.
Friday, May 2, 2008
2047?
News item: Zimbabwe election official says date for second round of elections will be announced 'later.'
Wednesday, April 9, 2008
Hey, isn't dere a corrupt "election" going on in Zimbabwe?
Where's our man-on-the-street reportage???
Wednesday, March 12, 2008
Wednesday, February 27, 2008
Thursday, February 14, 2008
Going for da record
Zimbabwe's annual inflation rate soared to 66,212.3% in December, according to official figures.
Tuesday, December 25, 2007
Well, Merry Christmas Zimbabwe, I guess..
Bleak Christmas for Zimbabweans
* Story Highlights
* Inflation-- the world's highest -- was about 8,000 percent officially in September
* Acute shortages of food and gasoline continue
* Power cuts added to the holiday misery
* Next Article in World (move along, nothing to see here) »
HARARE, Zimbabwe (AP) -- Thousands of Zimbabweans waited for hours to get scarce currency from the banks so they could buy food and board buses on Monday for Christmas trips to their home villages.
[picture of many people waiting, looking pissed off] A riot police officer monitors people in a bank line on the day before Christmas in Harare, Zimbabwe on Monday.
"We call this the festive season but where is there any joy?" said housewife and mother Mildred Chikutu, who got into a line before dawn to withdraw the maximum allowed in a day, 50 million Zimbabwe dollars -- 25 U.S. dollars at the dominant black market rate -- enough to buy a hamburger.
"You queue for money, and that's only the beginning of the queuing," she said, heading into a nearby supermarket where many shelves were bare of basic goods. A line had formed at the bakery counter.
Inflation-- the world's highest -- was about 8,000 percent officially in September, but independent estimates put it nearer 100,000 percent.
With cash itself in short supply, the central bank has supplied new high denomination notes, the largest worth 750,000 Zimbabwe dollars -- about 37 U.S. cents at the black market rate. Banks still could not cope with the demand for cash after six weeks of acute shortages, and stayed open throughout Sunday to deal with withdrawal requests.
Power cuts, a continuing problem in Zimbabwe, added to the holiday misery.
Several suburbs in Harare, the capital, entered a 17th day without power, and large areas of the downtown business district, including the state power utility's headquarters, suffered intermittent outages. Officials at the main blood bank said some stocks were thrown away after a refrigeration generator broke down.
Even President Robert Mugabe's official residence went without power from the city power grid for more than a week before it was restored. But he also has a private mansion on the outskirts of the capital.
The internationally known Harare Club canceled its Christmas lunch during a six-day power outage.
Cars snaked around a gas station a block away awaiting a fuel delivery.
Dampened by overnight rains at the main Mbare long-distance bus terminal in the capital, thousands waited for buses to their villages. But the lines were smaller than in the past, as fares soared and acute shortages of food and gasoline continued.
[picture of miserable looking people loading a truck] Townspeople take chicken, sugar and other scarce commodities to rural relatives for the holidays.
Power and water outages occur daily across the country, blamed on shortages of spare parts, equipment and hard currency for electricity imports.
Zimbabwe was the breadbasket of the region and one of the world's top exporters of tobacco until the government seized white farmlands that were given mainly to cronies of Mugabe and his entourage, creating food shortages and a crisis that led a third of the population to flee the country.
Copyright 2007 The Associated Press. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.
* Story Highlights
* Inflation-- the world's highest -- was about 8,000 percent officially in September
* Acute shortages of food and gasoline continue
* Power cuts added to the holiday misery
* Next Article in World (move along, nothing to see here) »
HARARE, Zimbabwe (AP) -- Thousands of Zimbabweans waited for hours to get scarce currency from the banks so they could buy food and board buses on Monday for Christmas trips to their home villages.
[picture of many people waiting, looking pissed off] A riot police officer monitors people in a bank line on the day before Christmas in Harare, Zimbabwe on Monday.
"We call this the festive season but where is there any joy?" said housewife and mother Mildred Chikutu, who got into a line before dawn to withdraw the maximum allowed in a day, 50 million Zimbabwe dollars -- 25 U.S. dollars at the dominant black market rate -- enough to buy a hamburger.
"You queue for money, and that's only the beginning of the queuing," she said, heading into a nearby supermarket where many shelves were bare of basic goods. A line had formed at the bakery counter.
Inflation-- the world's highest -- was about 8,000 percent officially in September, but independent estimates put it nearer 100,000 percent.
With cash itself in short supply, the central bank has supplied new high denomination notes, the largest worth 750,000 Zimbabwe dollars -- about 37 U.S. cents at the black market rate. Banks still could not cope with the demand for cash after six weeks of acute shortages, and stayed open throughout Sunday to deal with withdrawal requests.
Power cuts, a continuing problem in Zimbabwe, added to the holiday misery.
Several suburbs in Harare, the capital, entered a 17th day without power, and large areas of the downtown business district, including the state power utility's headquarters, suffered intermittent outages. Officials at the main blood bank said some stocks were thrown away after a refrigeration generator broke down.
Even President Robert Mugabe's official residence went without power from the city power grid for more than a week before it was restored. But he also has a private mansion on the outskirts of the capital.
The internationally known Harare Club canceled its Christmas lunch during a six-day power outage.
Cars snaked around a gas station a block away awaiting a fuel delivery.
Dampened by overnight rains at the main Mbare long-distance bus terminal in the capital, thousands waited for buses to their villages. But the lines were smaller than in the past, as fares soared and acute shortages of food and gasoline continued.
[picture of miserable looking people loading a truck] Townspeople take chicken, sugar and other scarce commodities to rural relatives for the holidays.
Power and water outages occur daily across the country, blamed on shortages of spare parts, equipment and hard currency for electricity imports.
Zimbabwe was the breadbasket of the region and one of the world's top exporters of tobacco until the government seized white farmlands that were given mainly to cronies of Mugabe and his entourage, creating food shortages and a crisis that led a third of the population to flee the country.
Copyright 2007 The Associated Press. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.
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