Friday, January 30, 2009
Thursday, January 29, 2009
Tuesday, January 27, 2009
The economy of Zimbabwe has been contracting for a decade. Hyperinflation has been a fact of life for going on two years. Currently prices are doubling every day.
Zimbabwe has a cholera epidemic. Cholera is a completely preventable disease. Its victim are the poor and weak. Cholerea is actually a symptom of economic collapse.
How does Robert Mugabe stay in power?. No leader survives with hyperinflation for this long! This Christmas he went on vacation to Malaysia. That shows his confidence. Usually a weakened leader does not leave the country for fear of a coup in his absence.
Tonight I checked the betting odds at Intrade.com of Mugabe staying in power. The odds are actually going Mugabe's way. As you can see on the chart there appears to be only a 6% chance he'll leave office by March 31st. (Rule 1.8: All bets are off if Mugabe dies before leaving office.) As you can see, the odds of him leaving office have been falling.
I do not understand this. The only way this makes sense to me is if the smart money thinks the only way Mugabe will leave office is feet first (i.e., Rule 1.8).
Posted by RB at 7:54 PM
Thursday, January 22, 2009
Friday, January 16, 2009
Move to Zimbabwe!
Zimbabwe is introducing a Z$100 trillion note, currently worth about US$30 (£20), state media reports.
Other notes in trillion-dollar denominations of 10, 20 and 50 are also being released to help Zimbabweans cope with hyperinflation. ~ Source: BBC News
Pictured is a Z$50 billion note, worth less than two cents US.
Link found at Greg Mankiw's Blog.
Posted by RB at 9:53 PM