October 16, 2009
A cautionairy tale
Words to meditate on:When more = less...............from Rico
Zimbabwe (remembered by fossils like yours truly as Rhodesia, the wealthiest country in Africa...also known as Africa's breadbasket).
In 1980 the Z$ was worth MORE than the US$.
The Z$ of May 2008 had lost 99.99% of its purchasing power by November 2008.
What happened?
- Politics (Marxist Socialism under Bobby Mugabe).
- Printing bales of paper money to fill the gaping hole socialist politics made in the economy.
Does anything sound familiar or resonate here? But-but-but it can't happen HERE you say.
- Sin loi...it has already started.
Let's see now...since March 2009 US stocks have risen 60%, but the US$ has fallen 15% (and it's not nearly done dropping yet). Earning more of a devalued currency. Such a deal!
Kudos to Team Obama...and a reminder: November approaches!
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