Zimbabwe's govt hasn't even a basic grasp on economics

[gegtik]

look at this f'n mess... I guarantee this will be in every high school economics textbook printed from now on, as an example of what happens when you mess with capitalism

http://www.guardian.co.uk/zimbabwe/a...127297,00.html

[Syekick]

Originally Posted by gegtik

look at this f'n mess... I guarantee this will be in every high school economics textbook printed from now on, as an example of what happens when you mess with capitalism

http://www.guardian.co.uk/zimbabwe/a...127297,00.html

Boy I'm glad I researched this country back in 2001 when I had a job offer to go there for 3 years as an expatriate network guru. As you might guess, I declined the offer and the big bucks.

[clampdown]

I agree, the brother of the president just sent me an email. If i give him five thousand dollars he will put one million in my bank account. No wonder they have financal problems.

[gegtik]

Economists say the price cuts will only deepen the national crisis, leaving many shops bare because they will not be able to afford to restock while official retail prices remain lower than the cost of buying wholesale or importing. Mr Mugabe has dismissed such warnings as "bookish economics".

[...]

The impact of the price cuts was felt almost immediately as fuel virtually disappeared from sale after garages were forced to sell petrol for 23p a litre, less than they paid the state-owned supplier.

The police and army broke the locks on petrol pumps at some garages and tanks ran dry amid panic buying. Now petrol is available only on the blackmarket, at more than seven times the official price and three times what garages had been charging. By Saturday, most minibus taxis had gone from the roads because drivers could not find petrol. Crowds of workers were left on kerbs for hours trying to get to or from their jobs.

well... call me "bookish"..

[Puffin Fresh]

Does this mean those money orders for my lottery ticket might stop making it here even though I'm paying all the export taxes and the shipping?

[stogie_kanobie_one]

I'll just thank you for posting it since it served as reminder to me that I don't keep up nearly enough as I need to in International Current events. This country is in trouble and has been for a long time. But it brings to mind their struggle against Apartheid, and also to say that it was in trouble LONG before the current governments gained control as I don't believe a racist government to be a particularly model way of life.

I remember Apartheid and the students that protested the government and were killed for it.

I don't have the answers for the South African countries but I do wanna take a moment and say that I hope they begin to figure things out and progress in a better direction than they are heading in. Violence, Genocide, sheer insanity. The shameful thing is it really diminishes the great struggles and TRIUMPHS that have been made in a region raped by pretty much every country to step foot in it. Many countries played parts in the current situation in Africa (including Africa). But then the same can be said of many places. There is a special place in my heart though for Africa...

Note this was just a quiet moment of reflection for me. I'm not criticizing anyone with a sense a humor here as I know how life is. But because of my relation to the region (or the lack of knowing my relation to Africa vis-a-vis slavery).... I find it hard to find humor in this story. Again not meant to criticize ANYONE as I don't mind at ALL the sense of humor we ALL share.

Edit... the LAST thing I want is a politically correct and politically sanitized board

[gegtik]

Originally Posted by stogie_kanobie_one

I'll just thank you for posting it since it served as reminder to me that I don't keep up nearly enough as I need to in International Current events. This country is in trouble and has been for a long time. But it brings to mind their struggle against Apartheid, and also to say that it was in trouble LONG before the current governments gained control as I don't believe a racist government to be a particularly model way of life.

I remember Apartheid and the students that protested the government and were killed for it.

I don't have the answers for the South African countries but I do wanna take a moment and say that I hope they begin to figure things out and progress in a better direction than they are heading in. Violence, Genocide, sheer insanity. The shameful thing is it really diminishes the great struggles and TRIUMPHS that have been made in a region raped by pretty much every country to step foot in it. Many countries played parts in the current situation in Africa (including Africa). But then the same can be said of many places. There is a special place in my heart though for Africa...

Note this was just a quiet moment of reflection for me. I'm not criticizing anyone with a sense a humor here as I know how life is. But because of my relation to the region (or the lack of knowing my relation to Africa vis-a-vis slavery).... I find it hard to find humor in this story. Again not meant to criticize ANYONE as I don't mind at ALL the sense of humor we ALL share.

Edit... the LAST thing I want is a politically correct and politically sanitized board

I hear you.. this story basically made me want to laugh and cry at the same time. It's too ridiculous.

[tedski]

Their economy is insane and has been most of the year. I'm sure there are some that are making a ton of money ... but 98% of the people there will soon find their money is worth less than toilet paper.

[adsantos13]

Sad situation indeed...

[omowasu]

Some of the "rogue economists" out there use the current Zimbabwe economic crisis to draw parallels to the constant printing of dollar bills by our Federal Reserve banks. Some of their conclusions are absolutely correct, others sound half baked. Either way, I am paying 3.50/gal for gasoline and it will never go back down to the 1.00 range - ever.

This would make a good conversation over a delicious Davidoff and glass of single malt.