4 oranges.
While you are complaining about $5 gas, and rising food prices. Stop and consider for moment, Zimbabwe. This week, facing 2.2 MILLION% inflation, yes 2.2 MILLION% inflation, released the first ever Z$100 BILLION note....
Independent economists, however, believe the official inflation figure is grossly understated, estimating it could be running between 10-million and 15-million percent.
Zimbabwe's chronic economic crisis has left at least 80% of the population living below the poverty threshold and mass shortages of basic goods in shops.
The new bill issue continues a trend which began In January,when a Z$10-million note was issued, then a Z$50-million note in April. In May, notes for Z$100-million and Z$250-million were issued, swiftly followed by those for Z$5-billion, Z$25-billion and Z$50-billion.
Some perspective for you: Cell phone minutes cost about Z$4 Million, and the new Z$100 Billion note will buy about... 4 oranges.
There is no need for commentary ... At least not from me. What say you?
Independent economists, however, believe the official inflation figure is grossly understated, estimating it could be running between 10-million and 15-million percent.
Zimbabwe's chronic economic crisis has left at least 80% of the population living below the poverty threshold and mass shortages of basic goods in shops.
The new bill issue continues a trend which began In January,when a Z$10-million note was issued, then a Z$50-million note in April. In May, notes for Z$100-million and Z$250-million were issued, swiftly followed by those for Z$5-billion, Z$25-billion and Z$50-billion.
Some perspective for you: Cell phone minutes cost about Z$4 Million, and the new Z$100 Billion note will buy about... 4 oranges.
There is no need for commentary ... At least not from me. What say you?
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