Hyperinflation.

cymatty · 12 Feb 2007 at 21:37

http://news.bbc.co.uk/1/hi/business/6354783.stm

:eek:

Amp34 · 12 Feb 2007 at 21:39

Such a shame, the breadbasket of Africa will take a hell of a lot more time to get out of this mess when mugabe has gone than it did getting into it.

themistry · 12 Feb 2007 at 21:44

How is it possible to live in a country with inflation that high?

Should open a savings account there, get some good returns

hehe

TM

Lord_Kokain · 12 Feb 2007 at 22:21

How is it possible to live in a country with inflation that high?

I lived in a country with about 2000% inflation per year...not fun!

Should open a savings account there, get some good returns hehe

Quite on the contrary u may end up losing loads of money. Ill give u a hint: Exchange rate

On the subject: Why am I not surprised? Im still glad its about such country though. At first I thought its about a bigger economy which wouldnt have been fun for the rest of us.

themistry · 13 Feb 2007 at 08:53

Lord_Kokain said:
I lived in a country with about 2000% inflation per year...not fun!

So how did this work? Were prices skyrocketing for goods on a daily basis? what about your wage?

Just interested to see how it works.

TM

robmiller · 13 Feb 2007 at 09:23

themistry said:
So how did this work? Were prices skyrocketing for goods on a daily basis? what about your wage?

Just interested to see how it works.

TM

I know someone who used to live in Bolivia for a while during their economic troubles (when inflation was ~20,000%, I believe), and apparently they had to add zeroes onto the end of notes but never reprinted them, so you had to mentally multiply every denomination of note by 20,000 or what have you. Mad.

Bill101 · 13 Feb 2007 at 09:24

themistry said:
So how did this work? Were prices skyrocketing for goods on a daily basis? what about your wage?

Just interested to see how it works.

TM

this happened in Germany just before Adolf came to power, people had wheelbarrows full of money just to go and buy loafs of bread!Things got so bad that people were so used to having to multiply costs etc on a daily basis that some got confused and thought that they had thousands of children ,well they had 3 last week so it makes sense that they now had many, many more.

JonB · 13 Feb 2007 at 09:39

I've always found hyperinflation quite interesting. (Don't ask me why though

) For an interesting read check out these two links:

http://en.wikipedia.org/wiki/Hyperinflation#The_1920s_German_inflation

http://www.usagold.com/GermanNightmare.html

alexthecheese · 13 Feb 2007 at 09:41

They could do with executing Mugabe.

alexthecheese · 13 Feb 2007 at 09:41

robmiller said:
I know someone who used to live in Bolivia for a while during their economic troubles (when inflation was ~20,000%, I believe), and apparently they had to add zeroes onto the end of notes but never reprinted them, so you had to mentally multiply every denomination of note by 20,000 or what have you. Mad.

Haha... you know you'd be seriously piling on those zero's.