Thursday, December 13, 2007

How to Run a Country Into the Ground

Follow the lead of Zimbabwe.

100,000% inflation. 100% inflation would be prices doubling in a year. This is prices increasing a thousand times over the year. That $2.89 gallon of milk you get at the store? Next year it costs you $2,890 - the price of a fancy plasma TV today. In the US, we are uncomfortable with 3% inflation. 20% inflation happened in the late 1970's. The last official inflation rate published by Zimbabwe was roughly 7,800%... and that's considered a rather slanted number.

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