Some of us are old enough to remember the seventies when Congress, in all its [snicker] wisdom, tried to regulate the price of gasoline. The result was a shortage of gasoline that produced long lines at the pump and a lot of frustration in the driving public. Congress backed off and soon gas flowed to the distributors and the lines disappeared.
Well, in Mad Bobby Mugabe's racist/socialist hell on earth, Zimbabwe, there are shortages of everything except bullets, and lines are longer than even Congressional Democrats could conjure. And things are going to get even worse.
The Telegraph reports:
President Robert Mugabe of Zimbabwe plans to seize majority stakes in all the country's foreign-owned businesses in what economists warn could be a repeat of the regime's disastrous land reform policy.
Read the whole thing here.
Under legislation approved by the cabinet two weeks ago, all companies will be required to give up at least 51 per cent of their shares for allocation to economically disadvantaged, "indigenous" Zimbabweans.There are signs that the government intends to use the laws to attack the commercial interests of countries such as Britain, the former colonial ruler, which Mugabe accuses of plotting to remove him from power....
Mugabe had vowed that "imperialist companies" would be targeted as they had been operating with what the president described as a "sinister, regime-change agenda."
That's right -- the nasty old racist, having destroyed his country's agricultural economy, having rendered much of the population homeless, and having reduced the nation's finances to a shambles, is now going after the providers of energy -- and he justifies it as an anti-colonialist, imperative.
What a guy!
Hat tip to JB