Zimbabwe’s stimulus plan

Zimbabwe’s stimulus plan

That sad, messed-up nation of Zimbabwe, whose unemployment rate is 94%, finally legalized purchases in foreign currency, thus killing the Zimbabwean Dollar:

Officially, Zimbabwe’s monthly inflation is an unfathomable 231 million percent. Economists scoff at that figure as far too minute. In November, the last time reliable data were available, Hanke calculated it at 79.6 billion percent and proclaimed Zimbabwe “second place in the world hyperinflation record books” — surpassed only by Hungary in 1946.

At one point, the exchange rate for one U.S. dollar was 13 quadrillion Zimbabwe dollars. One egg was selling for $50 billion. You can buy this $100 trillion bill on e-bay (current bid $10.51).

Zimbabwe $100 trillion

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