Tuesday, November 11, 2008

...Not time to buy Zimbabwe Dollars



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6 comments:

Anonymous said...

I hear Gordon Brown is going to help the Zimbabwean treasury sort out their economy.

Apparently he's shown them a few of his old tricks and they're now set to announce the new Zimbabwean inflation figures tomorrow - 5.2%!

Anonymous said...

One of the comments at the link includes a direct quote from the wizened philosophist in Zeitgeist: the Sequel which I watched the other day:

Write you congressman? What a joke. You’re not serious are you?
Congressmen can’t solve problems, they have no technical knowledge of systems and economics. All congressmen can do is pass laws, create budgets and declare war.

The only way we will ever come out of this self-generated failure is to rethink society as a whole. The monetary system must go.

Anonymous said...

The CSO guy or whoever he is in Zimbabwe does make a fair point: Biofuels are reducing space for food crops, and the green lobby isn't helping that issue...

Stef said...

Apparently he's shown them a few of his old tricks and they're now set to announce the new Zimbabwean inflation figures tomorrow - 5.2%!

The £ is 4+ cents down on the Euro and 6+ cents down on the US$ today - I think Brown might have to start taking tips from Mugabe at this rate

not anonymous said...

wow free money!!fuck I´m moving back to the UK!!!!yeeeha!

THE Bank of England said today it is prepared to slash interest rates to zero to save the economy.

Governor Mervyn King said the official cost of borrowing would be cut to “whatever level is necessary” to boost confidence and stave off a long and deep recession.

Interest rates in Britain have never fallen below two per cent since the foundation of the Bank of England in 1694.

The prospect of “free money” was raised on yet another bleak day of economic news:

● The Governor said in his November inflation report that Britain is already in recession and warned that the economy will be shrinking by two per cent a year by early next year.

not anonymous said...

link to above.

http://www.thisislondon.co.uk/standard/article-23585907-details/Bank+rates+head+for+zero+per+cent/article.do