Wednesday, July 30, 2008

$10,000,000,000 == $1

I'm no economist, but it's hard to not have seen this coming. From the article:
Zimbabwe will drop 10 zeros from its hyper-inflated currency -- turning 10 billion dollars into one -- the country's reserve bank said Wednesday. President Robert Mugabe threatened a state of emergency if businesses profiteer from the country's economic and political unraveling.
Just a couple of weeks ago, Zimbabwe introduced a 100-billion dollar bill, and it didn't buy nearly enough. People are suffering in Zimbabwe while a corrupt government mismanages the economy. I truly hope their economy recovers soon...

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