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Thread: Zimbabwe Spirals Into Economic Chaos As Fears Of Another Hyperinflation Begin To Spark

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    Zimbabwe Spirals Into Economic Chaos As Fears Of Another Hyperinflation Begin To Spark

    Currently, citizens of Zimbabwe are stocking up on essentials such as bread, beef, cooking oil and other necessities in anticipation of a looming economic disaster. It has reached a point where certain items are beginning to be rationed such as bottled water and beer.

    In addition to the panic buying when it comes to food, the country has been running out of essential medical supplies as the country’s health system seems to be on the verge of a complete collapse.
    Since 2008 the country has relied on US dollars to conduct daily transactions. However, today the country faces foreign-currency shortages and a mountain of debt which many fear could spark the type of collapse that took place a decade ago when hyperinflation left the country devastated.
    With a lack of supply of foreign currency, the citizens of Zimbabwe have been forced to use a currency called bond notes, bank cards and mobile money which are all beginning to deteriorate against the US dollar on the black market.
    With soaring US dollar rates on the black market, businesses in Zimbabwe are having a hard time restocking inventory, which is even forcing some businesses to close.


    More at: https://www.zerohedge.com/news/2018-...on-begin-spark
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  3. #2
    They need to spend more, good money after bad always fixes things.

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!

  4. #3
    Quote Originally Posted by Pauls' Revere View Post
    They need to spend more, good money after bad always fixes things.
    Yep, clearly a shortage of aggregate demand.

    Send Krugman with the deathstar blueprints.



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