Wednesday, July 23, 2008

Crazy Inflation

According to this story, the government of Zimbabwe recently introduced $100 billion bank notes in an effort to combat continuing cash shortages in the inflation-racked country. The latest official inflation rate is 2.2 million percent, and the new $100 billion note is reported to be equal to one US dollar. Needless to say, this is all indicative of an economy that just isn't functioning. Reports have unemployment rates as high as 80 percent.

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