Via Prieur du Plessis’ website, we see that inflation in Zimbabwe remains slightly elevated (Fortunately for the Mugabe regime, Core Inflation remains contained):
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Fortunately for the Mugabe regime, Core Inflation remains contained . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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June 4th, 2008 at 3:57 pm
…you just double the tax to get the tip right?
KOTW
June 4th, 2008 at 4:02 pm
How wide are the petrol pumps to accommodate the necessary digits?
June 4th, 2008 at 4:11 pm
not only is inflation in Zimbabwe and the US contained, it’s nowhere NEAR the level of the 1970s. that’s the most important take-away. the only thing bernanke, inflation and the ’70s have in common is that goatee. or beard. whatever is is.
June 4th, 2008 at 4:22 pm
despite the large number, he’s still only paying a couple of dollars (US) for the meal. i guess we can all vacation in sub-saharan africa, since american peso is no longer worth the paper its printed on in europe.
June 4th, 2008 at 4:33 pm
I guess we should be optimistic about at least one thing: a generation of very bright mathematicians from Zimbabwe. If it cost you a few hundred million Z$ to buy a candy bar, you’ll want to be VERY competent with numbers.
June 4th, 2008 at 4:42 pm
Today U.S. Federal Reserve Chairman Ben Bernanke said, “…we see little indication today of the beginnings of a 1970s-style wage-price spiral, in which wages and prices chased each other ever upward.”
INDICATIONS: Spend-a-holic Congress representing a broke & angry constituency… Multi-trillions in unfunded government liabilities…Global demand outstripping supply…$20 once bought oz. of gold, now buys about an oz. of silver, eventually, a soda & bag of chips?
June 4th, 2008 at 5:06 pm
More importantly, inflation *expectations* remain well-anchored!! :)
June 4th, 2008 at 5:07 pm
At least the last 3 digits are irrelevant, though it seems past time for the last 6 to be.
June 4th, 2008 at 5:24 pm
“…we see little indication today of the beginnings of a 1970s-style wage-price spiral, in which wages and prices chased each other ever upward.”
Inflation without wage increases.
Whoopeee.
June 4th, 2008 at 5:34 pm
Stick a dollar sign in front of it instead and that’ll be the annual Fiscal deficit in a couple years.
June 4th, 2008 at 6:27 pm
Wages could chase prices because workers were able to negotiate.
Now…they’re supposed to be happy if they get something, anything.
And of course, it must be entirely their fault if it is the way it is.
Workers of the world, unite! Become financiers, bankers and traders. With all the new riches coming your way, you’ll be able to find suckers who’ll produce stuff for you.
Ain’t life awesome?
June 4th, 2008 at 6:42 pm
Mugabe’s concluding remarks at today’s Harvard Commencement address ‘…and when you leave these hallowed halls, leave by helicopter.’
June 4th, 2008 at 9:35 pm
I guess I won’t be visiting Zimbabwe while I’m visiting South Africa next month.
The bad thing is, that looks to be about $3.
June 4th, 2008 at 9:42 pm
Guess who is praising whom…
http://gregmankiw.blogspot.com/2008/05/with-friends-like-this.html
June 4th, 2008 at 10:52 pm
I’m starting to think their inflation could turn into a real headwind(tm) rather than merely an academic debate over the most beneficial rate of inflation. They will soon have to reprogram all the terminals to print landscape to fit all the digits.
Fortunately the US seems to have proactively reduced many charge slips to a 4pt font.
June 4th, 2008 at 11:19 pm
don’t give Bernanke any encouragement
June 5th, 2008 at 1:09 am
Wow, you don’t get a real sense of hyperinflation until you see something like that. That’s unreal.
June 5th, 2008 at 1:52 pm
Justin, I’m sorry to break it to you, but that’s not really hyper-inflation you’re looking at.
That receipt was from back in March, when the annual inflation rate was only a mere 165,000% (one hundred and sixty-five thousand percent).
In the last month, the Y/Y inflation rate reached 1,800,000% (one point eight million percent).
Clearly the inflation in March was merely super-inflation, not hyper-inflation.
Link: http://www.reuters.com/article/latestCrisis/idUSL04243842
June 6th, 2008 at 6:52 am
Interesting to see how the ATMs dispense that kind of money….
June 6th, 2008 at 10:51 am
Actually they don’t dispense anything near even 100 million. you have to queue for ages to get any real money out and even that lasts only a day…its a nightmare
June 12th, 2008 at 8:54 am
hey… we guys in India are crying hoarse and holding protests on the inflation jumping to 8 %…. Cany imagine the situation in Zimbabwe.. poor guys!!! my symphaties…