Let the Good Times Roll!
In economic news:
HARARE, Zimbabwe — Zimbabwe's bank chief plans new currency reforms - removing "more zeros" from the plummeting Zimbabwe dollar and raising the limit on cash withdrawals - to tackle the country's runaway inflation and cash shortages, state media reported Sunday.
Previous currency reforms have failed to tame Zimbabwe's inflation - officially pegged at 2.2 million percent a year but estimated by independent analysts to be closer to 12.5 million percent. It also has become virtually impossible to get access to cash as the country's economic collapse worsens.
Authorities last week released a new 100 billion dollar bank note. By Sunday it was not enough even to buy a scarce loaf of bread in what has become one of the world's most expensive - and impoverished - countries.
Labels: Economics, Wingnuttery
Presented for your delectation by the Gentleman Farmer at 5:12 AM
Comments on "Let the Good Times Roll!"
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Anonymous said ... (5:10 PM) :
post a commentCan this be far behind:
Washington, DC — The US Federal Reserve plans new currency reforms - removing "more zeros" from the plummeting US dollar and raising the limit on cash withdrawals - to tackle the country's runaway inflation and cash shortages, The Washington Post reported Sunday.
Previous currency reforms have failed to tame US inflation - officially pegged at 2.2 million percent a year but estimated by independent analysts to be closer to 12.5 million percent. It also has become virtually impossible to get access to cash as the country's economic collapse worsens.
Authorities last week released a new 100 billion dollar bank note. By Sunday it was not enough even to buy a scarce loaf of bread in what has become one of the world's most expensive - and impoverished - countries.