Saturday - July 28, 2007

Zimbabwe's Economic Genius to Print More Money

We in Hell pride ourselves in making Hell one of the most miserable places to spend one's existence.  But Satan has to tip his pitchfork to Robert Mugabe of Zimbabwe for his efforts to turn this once promising country into a Hell on earth.  

Once a crop exporting nation, Mugabe decided to seize all the white owned farms and break them up.  Of course with the seizures, know-how and mechanization were lost.  Not to mention, now Zimbabwe is critically short of food.  Then Mugabe decided that the poor were an eyesore.  So in his genius, he had their shanty towns bulldozed.  Now hundreds of thousands don't even have the meager shelter of their tin huts anymore.

Now, this great man of genius, in a nation that has over 4000% inflation, wants to print more money.  Even though Satan's grasp of economics is limited to the macro and micro economics courses he took ages ago,  printing more money during an inflationary period isn't the right course to take.  

The Associated Press has the entire story of the country that is going to hell in a hand basket:

President Robert Mugabe has promised to print more money to fund municipal projects, a government newspaper reported Saturday. The pledge came despite hyperinflation that has created severe shortages of cornmeal, meat, milk and other staples.

Meanwhile, water shortages worsened due to pump breakdowns, and a senior government official said kidney patients were dying for lack of dialysis machines.

The offical Herald newspaper reported that Mugabe told a meeting of local councilors they should put more pressure on government ministers to improve services.

"Where money for projects has not been found, we will print it," Mugabe was quoted as saying.

The printing of money is generally regarded as a recipe for inflation—which is officially at 4,500 percent in Zimbabwe, though private economists estimate it to be least twice as high. The government last month ordered sweeping price cuts of around 50 percent, accusing store owners and businesses of fueling the inflation.

Zimbabwe is in the grips of its worst crisis since independence from Britain in 1980. Power, water, health and communications systems are collapsing, and there are acute shortages of staple foods and gasoline. Unemployment is around 80 percent, and political unrest is high. 

Trackposted to Leaning Straight Up, Dumb Ox Daily News, Wake Up America, High Desert Wanderer, and Conservative Thoughts, thanks to Linkfest Haven Deluxe.

Author: Satanic Source
Technorati Tags: Zimbabwe Mugabe
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