January 16, 2009
So we Europeans thought that we had it bad. Banks collapsing and recession don’t mean a thing compared to the devastation going on in Zimbabwe. A friend of mine visited there recently (his wife is from Zimbabwe) and he explained the consequences of ramplant inflation.
For us, their inflation is incredibly high and out of control. That information in and of itself is meaningless. The reality is that prices double every day. Every day!!
The below story explains how they have now brought out a 100 trillion note. It seems more like a sick joke than monetary policy.
I thought I’d ask, just for the record, what actions are the EU and European governments taking to try and assist the people and end this obviously bad regime?financialguy