Inflation in the South African nation of Zimbabwe has reached Weimar-republic-like proportions. Michael Gerson writes how that nation’s dictator President Mugabe–who famously confiscated the land of all white farmers, who had supplied much of the food supply for generations–is funding his predatory government by simply printing money. Back in 1980, a Zimbabwe dollar was worth about as much as ours. Today, a newspaper costs $3 million, and a two pounds of chicken costs $15 million. People have to carry around boxes of money. If someone doesn’t collect a bill within 48 hours, it isn’t worth collecting anymore, since by then the hourly inflation will have rendered the original amount into chump change.
$15 million for two pounds of chicken
February 20, 2008 by 2 Comments