1% job creators debunked

Source

Click here to go to most recent posts.

Zimbabwe's inflation woes

According to Central Statistical Office statistics, annual inflation rate rose to 231 million percent in July 2008. Central bank attempts to keep pace with hyper-inflation as prices are doubling every day.

Zimbabwe has unveiled a 100 trillion Zimbabwe dollar banknote.

The country's central bank also plans to introduce Z$10tn, Z$20tn and Z$50tn notes.

How bad is inflation in Zimbabwe? Well, consider this: at a supermarket in the capital city, toilet paper costs $417. No, not per roll. Four hundred seventeen Zimbabwean dollars is the value of a single two-ply sheet. A roll costs $145,750.

The above quoted price of toilet paper is from an article in 2006. At the prevailing inflation rate, a single sheet must cost about a million dollars(?) today.

Going out for dinner? Bring a hefty knapsack to carry the more than $1 billion you'll need.




Is America going down that same path...