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Old 11-14-2008, 08:07 PM   #1
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Inflation in Zimbabwe now at 13.2 billion percent (per month) and Mugabe blames everyone but himself.

"With goods unavailable and official statistics distrusted, Steve Hanke, of the Cato Institute in Washington, has developed his own hyperinflation index for Zimbabwe, the HHIZ, based on exchange rate movements and accurate market data.

Its latest calculation puts Zimbabwe's inflation at 13.2 billion per cent a month, or 516 quintillion per cent (516 followed by 18 zeros) a year, overtaking 1994 Yugoslavia in the world rankings and putting it behind only Hungary in 1946.

In post-war Hungary, monthly inflation reached 12,950,000,000,000,000 per cent, with prices doubling every 15.6 hours."....

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Old 11-14-2008, 09:04 PM   #2
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It is a really desperate situation and I have family there, and just about every week there is a new note with a bunch of extra zero's on it, and it still takes more than a wheel barrow of paper (cant call it money) to buy a loaf of bread, if you can get it. The paper weighs more than the item purchased.

There was an instance where Bobby Mugabe had his government deny Morgan Tsvangirai a visa to go to Botswana for a meeting. His reason, sorry had no paper to print the visa on.

I suspect that little is actually being bought and paid for via currency, from what I have heard, the barter system is back in fashion and in full swing.

What was once the bread basket of Africa has turned into a total disaster. What a waste of a beautiful country.

Gavin & Lesley



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Old 11-14-2008, 09:52 PM   #3
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Originally Posted by gslabbert5119 View Post
What was once the bread basket of Africa has turned into a total disaster. What a waste of a beautiful country.
You will perhaps recall that I mentioned McMillan and his "Winds of change" speech under the "Justice" topic? Well, this is what I meant. Certainly the winds of change blew but in the wrong direction. Cruisers are tolerant and liberal people as the cruising life teaches us the values of differing cultures but one of the major issues concerning Zimbabwe/Rhodesia is trying to classify the issue into a black versus white problem. In reality it is not a black-white divide. Almost everyone, given the opportunity to express themselves freely, would put Zimbabwe's problems down to poor governance since the end of Ian Smith's regime. Please note that I am not claiming that UDI and Smith's regime was good but solely that everything since has been bad.

If Africa wants the rest of the world to take the continent seriously then it will rid itself of despots such as uncle Bob and then, with he prospect of some stability in sight, investments will be made in the continent but as thing look today with an aging Mugabe in the ruling position and a clown of the highest order (Zuma) about to ascend to the throne in Pretoria things do not look good for the sub-continent.

I love South Africa / Zimbabwe / Botswana / Namibia and I rejoiced when the apartheid regime fell but things have not improved so very much since then. In fact, I would say that there has been a serious regression in many respects. It is all very well to find fault in the apartheid regime of the past (and there were many faults) but there was at least food on the table.

The peoples of southern Africa were able to convince the world of the wrongs of apartheid and to evoke forces strong enough to change the situation. My message to these people is to be strong and brave enough to rid yourselves of the despots who took over. Forget the allegences these people formed at UWC and live for the future rather than the past.

Aye // Stephen
Yacht NAUSIKAA | Call Sign: 2AJH2



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