Matt Carberry (kingpin248) wrote,
Matt Carberry

Zimbabwe: it's not just a decrepit dictatorship anymore...

...I think it now moves into the category of "international laughingstock." If the central bank is printing notes for one hundred billion dollars, there might be an inflation problem or something. Oh yes, that's one hundred billion. With a "b." Ten to the eleventh power. One hundred giga-dollars. It gets better...they're basically travelers' checks. Unlike, say, our Federal Reserve Notes, these things have an expiration date - at the end of the year, they turn into lavishly printed toilet paper. And the government may not be able to print these notes much longer. It seems that the supply of paper on which these notes are imprinted has been cut off, and the same may end up the case for the license on the software used to design the currency. The official estimate of the country's inflation rate is over two million percent; it might actually be much higher. I doubt the ability of the central bank to adequately handle this, given that its head jokes about the length of his salary, and actually invoked the Bible to justify his loyalty to his president.

If you follow the news at all, you likely know about the presidential election circus show held over the last few months. I think that a picture of Mugabe should be inserted into the definition of "delusional" on He hasn't gotten the same kind of publicity here as others like Fidel Castro, but he's just as bad. The renewed attention focused on Zimbabwe by the election has opened the possibility of sanctions against that government. I tend to agree with Daniel Griswold of the Cato Institute; when I think of such economic measures, I recall how twelve years of them failed to break the Iraqi government and didn't benefit that nation's people. If Mugabe sincerely cared about the Zimbabwe he claims to love, he'd step aside and let the difficult task of recovering that country begin.
Tags: foreign affairs, politics

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