https://newrepublic.com/article/115925/zimbabwe-prices-why-are-they-high-new-york-citys
there is nothing like socialism for the elite and capitalism for the poor.
there is nothing like socialism for the elite and capitalism for the poor.
how to get by in a dirt-poor country with hyperinflation and prices like new york city
- Thread starter zdreg
- Start date
When Commie Mugabe declared that any company over $500K would need to have 50% indigenous ownership, then that meant no one is going to invest in his country from outside.
Even at 100% ownership, with his messed up administration and corruption other than "charity minded" governments, no private party would like to even consider an investment.
Once commie Mugabe and his cronies are gone, then "rest of the world" world should make efforts to forgive $10B external debt of Zimbabwe and give them a little jump start towards a slightly better tomorrow.
However, make sure to not hand in even $1 in charity or aid as it will disappear into the abyss of third world corruption.
Same law in UAE and other oil rich Arab countries too but world is investing in both China and ME with high motivation. The set up of African corruption and lawless societies does not jive well with foreign investments.
The writer has some poor economic/monetary knowledge though...
A lot of what happened makes perfect sense to me. Collapse of own economy and production. Central Bank was/is probably tied too much to the Government, so the Goverment started printing to pay the bills. No income to pay for expenses... Bankruns to get money out and buy stuff before it gets too expensive. The people piling into stocks and real estate. No more credit, since money evaporates. Expensive items due to local production stalling and need to import.
The mandate of the FED and ECB etc is different than some other poorer countries' central banks. If the European or US government says, hey print me some money... that won't fly as easy with ECB/FED. In Zimbabwe they probably said... sure... here you go Mugabe. Mugabe's system relied on keeping the political power and he needed to give those who gave that power enough to support him. That's a big difference with the West. Not that it might never happen in western world though... but less likely.
A lot of what happened makes perfect sense to me. Collapse of own economy and production. Central Bank was/is probably tied too much to the Government, so the Goverment started printing to pay the bills. No income to pay for expenses... Bankruns to get money out and buy stuff before it gets too expensive. The people piling into stocks and real estate. No more credit, since money evaporates. Expensive items due to local production stalling and need to import.
The mandate of the FED and ECB etc is different than some other poorer countries' central banks. If the European or US government says, hey print me some money... that won't fly as easy with ECB/FED. In Zimbabwe they probably said... sure... here you go Mugabe. Mugabe's system relied on keeping the political power and he needed to give those who gave that power enough to support him. That's a big difference with the West. Not that it might never happen in western world though... but less likely.
https://www.bloomberg.com/news/arti...-zimbabwe-after-military-moves-to-seize-power
Here's the answer to the question
Here's the answer to the question
https://www.bloomberg.com/news/arti...-zimbabwe-after-military-moves-to-seize-power
Here's
the answer to the question
Q - "How to get by in a dirt poor country with hyperinflation and prices like new york city"
A - "Bring in the military"
