Using the same logic, if you have one dollar you're better off than the US.
I'd imagine this is closer to the "fiscal cliff" thing. The US Govt. may be running a deficit, but they still have billions of dollars more than I do.
Zimbabwe Has Only $217 Left in the Bank
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Re: Zimbabwe Has Only $217 Left in the Bank
#12After the land redistribution of President Robert Mugabe the economy collapsed, causing the crazy hyper-inflation that Zimbabwe is notorious for. They are struggling to recover from that disaster, and a government known for looting on a staggering scale, even for an African government. This is actually doing pretty good for them.
Re: Zimbabwe Has Only $217 Left in the Bank
#13After the land redistribution of President Robert Mugabe the economy collapsed, causing the crazy hyper-inflation that Zimbabwe is notorious for. They are struggling to recover from that disaster, and a government known for looting on a staggering scale, even for an African government. This is actually doing pretty good for them. http://en.wikipedia.org/wiki/Zimbabwe#Economy
It is a shame for the people. I believe that unemployment is a crazily high number - something like 90%
Re: Zimbabwe Has Only $217 Left in the Bank
#14I wonder how much money the leaders of Zimbabwe have on deposit outside of Africa?
Re: Zimbabwe Has Only $217 Left in the Bank
#15Using the same logic, if you have one dollar you're better off than the US.
Zimbabwe has debt too.
Re: Zimbabwe Has Only $217 Left in the Bank
#16I have more money in bitcoins than Zimbabwe has in USD
Re: Zimbabwe Has Only $217 Left in the Bank
#17After the land redistribution of President Robert Mugabe the economy collapsed, causing the crazy hyper-inflation that Zimbabwe is notorious for. They are struggling to recover from that disaster, and a government known for looting on a staggering scale, even for an African government. This is actually doing pretty good for them. http://en.wikipedia.org/wiki/Zimbabwe#Economy
It is a shame for the people. I believe that unemployment is a crazily high number - something like 90%
The article says 95%.
Re: Zimbabwe Has Only $217 Left in the Bank
#18After the land redistribution of President Robert Mugabe the economy collapsed, causing the crazy hyper-inflation that Zimbabwe is notorious for. They are struggling to recover from that disaster, and a government known for looting on a staggering scale, even for an African government. This is actually doing pretty good for them. http://en.wikipedia.org/wiki/Zimbabwe#Economy
Hyperinflation was a separate consequence of the deliberate decision by the state to print money. Yes, the economy collapsed (from that and many other decisions) and they needed more money, but capital is scarce even with infinite money.
Re: Zimbabwe Has Only $217 Left in the Bank
#19That was a joke by the Finance minister of Zimbabwe, according to Telegraph [1]. It seems they have 30-million dollars in the bank.
[1] - http://www.telegraph.co.uk/news/worldnews/africaandindianoce...
Re: Zimbabwe Has Only $217 Left in the Bank
#20After the land redistribution of President Robert Mugabe the economy collapsed, causing the crazy hyper-inflation that Zimbabwe is notorious for. They are struggling to recover from that disaster, and a government known for looting on a staggering scale, even for an African government. This is actually doing pretty good for them. http://en.wikipedia.org/wiki/Zimbabwe#Economy
Hyperinflation was a separate consequence of the deliberate decision by the state to print money. Yes, the economy collapsed (from that and many other decisions) and they needed more money, but capital is scarce even with infinite money.
" . . . capital is scarce even with infinite money."
You'd think that would be obvious to people running a country, and yet, so many countries have tried it, over and over.