Had to do a double take on this one before the penny dropped. Received via email under the title “Stupid is as Stupid does”, if I can recall correctly.
I made a conscious decision when I started posting that I would avoid a number of issues, politics is one of them.
Looking at this however I cannot but think of Zimbabwe.
Nowhere to start from and nowhere to go to.
Sky News had a report early this morning that the Zimbabwean currency was to be changed. A 10 billion, yes 10 billion dollar note, is to be replaced by a 1-dollar note.
Rampant inflation is not new to global economy, the textbook case being that of Germany after the First World War. By just changing the look of the money and cutting off a chain of zeros on the end will change nothing except for making admin easier.
Rampant inflation is the symptom of deeper issues, and one cannot cure a disease by treating the symptoms.
No reference as to what was going to be done to address these symptoms was made in the news report. Maybe and hopefully Zim has a plan. If my memory serves me well, these plans are usually drastic measures for drastic times, and need international First World support, which is a far cry from reality given Zimbabwe’s non-acceptance in the Western World.
Hopefully something can and will be done to put an end to this nonsense.
If not, the new dollar will be back to 10 billion in a matter of months.
