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28 May, 2009

'Complete Anarchy In Zimbabwe In A Year'

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"Zimbabwe could descend into "complete anarchy" in a year if foreign aid does not bolster its failing economy, a former judge has said.

The nation is battling to pay nurses, teachers, police and soldiers, despite adopting the US dollar as its first currency to combat hyperinflation."


Zimbabwe, formerly known as Rhodesia, is a picture-perfect example of what the scourge of hyperinflation can do to a once prosperous nation. What makes it all the more frightening, is that our current policy of "quantitative easing" (a really nice, fancy way of saying "turning on the presses and printing the bejeebus out of a whole hell of a lot of brand new $$$ that didn't exist 5 seconds ago") has the alarming potential to cause this same kind of rampant devaluing of the money supply right here in the U.S..

Anyone who has read the blog for any amount of time will no doubt remember that hyperinflation is one of the great fears I harbor for what is in store for us here eventually, if more sensible monetary policies are not enacted and quickly.

The problem is getting anyone to actually believe that it could happen here the same way.

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