Day By Day

Wednesday, February 08, 2006

More Zimbabwe Madness -- Hyperinflation

Mad Bobby Mugabe's program to create Hell here on Earth is proceeding apace. BBC reports on the accelerating collapse of that poor nation's economy:
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.

Read it here.

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