Home > General Topics > Economics > how to get by in a dirt-poor country with hyperinflation and prices like new york city

how to get by in a dirt-poor country with hyperinflation and prices like new york city

  1. When Commie Mugabe declared that any company over $500K would need to have 50% indigenous ownership, then that meant no one is going to invest in his country from outside.

    Even at 100% ownership, with his messed up administration and corruption other than "charity minded" governments, no private party would like to even consider an investment.

    Once commie Mugabe and his cronies are gone, then "rest of the world" world should make efforts to forgive $10B external debt of Zimbabwe and give them a little jump start towards a slightly better tomorrow.

    However, make sure to not hand in even $1 in charity or aid as it will disappear into the abyss of third world corruption.
     
  2. That is exactly the same law that they have in China.
     
  3. hyperinflation is possible in the US. point of article is learning to deal with it.
     
  4. Same law in UAE and other oil rich Arab countries too but world is investing in both China and ME with high motivation. The set up of African corruption and lawless societies does not jive well with foreign investments.
     
  5. Why don't we have the same law as in China and USE...? Last I looked, China has the second largest economy in the world and UAE's per capita is approaching ours.
     
  6. "The first person I speak to properly about this is Colin, who messages me on Grindr one weeknight and agrees to meet the next day"

    Grindr... isn't that that gay-hookup app? :D:D
    Funny way to interview locals....
     
  7. The writer has some poor economic/monetary knowledge though...

    A lot of what happened makes perfect sense to me. Collapse of own economy and production. Central Bank was/is probably tied too much to the Government, so the Goverment started printing to pay the bills. No income to pay for expenses... Bankruns to get money out and buy stuff before it gets too expensive. The people piling into stocks and real estate. No more credit, since money evaporates. Expensive items due to local production stalling and need to import.

    The mandate of the FED and ECB etc is different than some other poorer countries' central banks. If the European or US government says, hey print me some money... that won't fly as easy with ECB/FED. In Zimbabwe they probably said... sure... here you go Mugabe. Mugabe's system relied on keeping the political power and he needed to give those who gave that power enough to support him. That's a big difference with the West. Not that it might never happen in western world though... but less likely.
     
  8. Read the article. People moved most of their "wealth" from government backed fiat to decentralised currency.

    Let's see what happens in Venezuela. Govt. could not repay debt and is rumored to sell it's gold.
    People also heavily rely on BTC there...just food for thought.
     
  9. Uhm... there has been hyperinflation for multiple years... it's been a lot less since the move to USD. And now people bought some bitcoin in low volume at the absolute high.

    They don't rely on bitcoin over there... they don't have much and anything they make in their local economy is going almost instantly to basic necessities.

    How is bitcoin suddenly the answer? It's not....
     
  10. it doesn't work in Venezuela.
     
  11. Well it will when they finally take the correct side of true democracy... the people. I think Mugabe initially bought military support as well.
     
  12. Venezuelans voted themselves into a dictatorship under the banner of equality for all. now the people of venezuela have equality. they are equally poor i.e. starving except for the elite. don't fool yourselves. the US constitution and Bill of Rights could not pass into law today.
     
  13. Mugabe is schizophrenic
     
  14. Mugabe is history. He has gone. Yes he had to do what the army told him. They wanted land so he got rid of the very prosperous white farmers to give their land to the military who had no idea of farming. So there is starvation in Zimbabwe. The currency became so debased that a trillion dollar bank note could barely buy a loaf of bread.
     
  15. "very prosperous"
    does your philosophy incline you to dislike being "very prosperous" ?
     
  16. No