zimbabwe zeros1
Root cause: being Zimbabwe
"Our national currency is a fundamental economic pillar of our sovereignty," said the country's chief finance officer. Hence, the country is now acknowledging its inflation rate of roughly a billion percent, which is roughly a billion minus 3 higher than the U.S.'s, and remedial action now includes taking Z's currency in the denomination of "one trillion dollars" and re-naming it "one dollar." Presto! (On the open market, $1 U.S. is going for Z$300 [which used to be Z$300 trillion] [but that was yesterday, so it's probably more than Z$300 now].) You know about people who do the same thing over and over, expecting a different result. CNN
"Our national currency is a fundamental economic pillar of our sovereignty," said the country's chief finance officer. Hence, the country is now acknowledging its inflation rate of roughly a billion percent, which is roughly a billion minus 3 higher than the U.S.'s, and remedial action now includes taking Z's currency in the denomination of "one trillion dollars" and re-naming it "one dollar." Presto! (On the open market, $1 U.S. is going for Z$300 [which used to be Z$300 trillion] [but that was yesterday, so it's probably more than Z$300 now].) You know about people who do the same thing over and over, expecting a different result. CNN
Comments
When will these poor people just give up and go back to the barter system?
Posted by Matt in Florida on 02/04/09 at 10:58 AM
I wonder if I can do this with my debt, "No, I told you I only owe you $50."
Posted by Lovemonkey on 02/04/09 at 11:39 AM
That's exactly where we are headed right now. The Obama "monetary policy" is modeled on Zimbabwe's.
Posted by Dave Hanford on 02/04/09 at 04:48 PM
haha BG... Enjoy your own medicine. People are going to take pointless irrational shots at the president. Just like you did at the end there...
"Bush policy" has nothing to do with overvaluation of stocks. The system that lead to said overvaluation is actually the result of Money(which is non-partisan) playing both democrats and republicans over the last 20 years (since the end of the S&L;debacle). Someone should have taken note that your average investment was bringing in 8% and stocks averaging 12-15%; all the while, inflation is below 2%.
The house always wins...
You guys should research how money is "made", especially the stuff about what the bank does with the 100$ you deposit. This is as bipartisan as it gets. -->(Madoff/Ponzi/Pyramid)
"Bush policy" has nothing to do with overvaluation of stocks. The system that lead to said overvaluation is actually the result of Money(which is non-partisan) playing both democrats and republicans over the last 20 years (since the end of the S&L;debacle). Someone should have taken note that your average investment was bringing in 8% and stocks averaging 12-15%; all the while, inflation is below 2%.
The house always wins...
You guys should research how money is "made", especially the stuff about what the bank does with the 100$ you deposit. This is as bipartisan as it gets. -->(Madoff/Ponzi/Pyramid)
Posted by One of them guys on 02/04/09 at 09:13 PM
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