Results 1 to 3 of 3

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

  1. #1

    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 countryís 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
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



  2. Remove this section of ads by registering.
  3. #2
    They need to spend more, good money after bad always fixes things.
    - SUPPORT FREE TRADE, SMUGGLE -

    2 + 2 = 5.

  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.



Similar Threads

  1. Socialist Venezuela Spirals into Chaos as Troops Seize Companies
    By FrankRep in forum World News & Affairs
    Replies: 0
    Last Post: 11-13-2013, 07:16 AM
  2. Ron Paul Delegates Barred From GOP Convention Spark Chaos
    By Xelaetaks in forum Ron Paul Forum
    Replies: 0
    Last Post: 08-28-2012, 06:06 PM
  3. Pictures of Zimbabwe's hyperinflation
    By youngbuck in forum Economy & Markets
    Replies: 12
    Last Post: 10-31-2008, 10:30 AM
  4. Meanwhile....Chaos in Zimbabwe
    By pauletteNV in forum Grassroots Central
    Replies: 6
    Last Post: 10-08-2008, 09:50 AM
  5. Hyperinflation in Zimbabwe
    By forsmant in forum Economy & Markets
    Replies: 35
    Last Post: 02-26-2008, 02:37 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •