Zimbabwe inflation hits 2.79 Quintillion Percent

[Hugh Conway]

that's a monthly rate of 5,540,000,000.00% a ten fold increase over last week

http://www.cato.org/zimbabwe

[denalidave]

So, just for curiosity's sake, aprox. what would a loaf of bread, a gallon of milk or a 6 pack cost there in US dollars?

[Hugh Conway]

So, just for curiosity's sake, aprox. what would a loaf of bread, a gallon of milk or a 6 pack cost there in US dollars?

 

In USD - about the same I believe - a couple $ for a beer. Probably less if you were directly exchanging hard currency. In local currency, this is how someone paid for a beer in December last year:

[JayB]

Venezuelans, take note...

[Stefan]

a friend of a friend was there in zimbabwe this past year....

 

they said a lot of people were just bartering without the use of cash between either hands when they were there this past summer.

[tvashtarkatena]

I briefly visited Argentina during their period of hyperinflation. Several areas had taken to printing their own local money, Wild West style. It was strange but wonderful to get a 5 course, white linen steak dinner at a 5 star restaurant for $2.50.

 

On the same trip, I spent 3 weeks in Peru, which only had 8000% inflation. The heaviest item in my backpack was the stack of cash, which was being flown in from several out of country sources because the domestic mints had long since run out of capacity. I liked the Peruvians in general, they were a bit more engaging than their Bolivian counterparts, but man, did they love to steal stuff, and they were damn good at it. I suffered a few failed attempts but never lost anything. The biggest pain in the ass for the tourons I met who did get stung was not what they had stolen, but continually having their clothing and backpacks slit open. I wonder if that behavior has subsided a bit since then.

[Hugh Conway]

89.7 Sextillion as of Friday.

[rob]

I don't understand! I thought Bob Marley gave his stamp of approval on Mugabe & company. How could things have gone so wrong????

[prole]

The front end of the deflationary death spiral we're in right now is actually quite awesome (till you get fired). They just slashed $600 off the computer I want, I filled my gas tank for $25, and I just heard that plane tickets to New Orleans are about $175. I'll check on my personal economic indicator of choice, the White Cheddar Tillamook Babyloaf later today. I'm riiich, beyotch!

[billcoe]

7 days and no one has mentioned that it was a new political system that included an attempt at socializing and breaking up the large prosperous white owned farms that started what was one of the most wealthy nations in all of the African continent (Rhodesia), to start rolling downwards into the shit hole it is now.

 

Hmmmm. ...JB...joblo...where are you guys now when we need someone to again defend a bunch of corrupt socialist leaning politicians. Ya all trust politicians so much: here ya go, here's your chance.

[rob]

hey, Mugabe sure fucked things up, but don't try to paint pre-mugabe Rhodesia as a model of racial inclusiveness and prosperity. It's hard to call a country prosperous when a very little have a lot, and a lot have very little.

[rob]

It's also valuable to note that Rhodesia contained many social safety nets (for whites only) including education & healthcare that many, including Bill, would have considered pretty socialist.

[prole]

Thanks Bill, I forgot about Mugabe. We can add him to the list with SPECTRE, Nero, Ted Bundy, Jafar, Leon Trotsky, Vlad the Impaler, Boss Tweed, and Blackbeard. I can see the ad-campaign now: "You wouldn't want these guys running your health care plan...would you?"

[Hugh Conway]

7 days and no one has mentioned that it was a new political system that included an attempt at socializing and breaking up the large prosperous white owned farms that started what was one of the most wealthy nations in all of the African continent (Rhodesia), to start rolling downwards into the shit hole it is now.

 

Zimbabwe was doing quite well by African standards for 20 years of rule under Mugabe until the 2000 land reforms.

 

If you want to lionize Ian Smith it'll be a tough road to hoe.