Friday, October 03, 2008

1/2 Trillion percent inflation

$20,000 is the newest note from Zimbabwe. This is after knocking off 10 Zero's two months ago. They are burning through 2 zero's a month. Maybe by the new year they will knock 10 more off.

The Cato institute has estimated the annual inflation rate of the Zimbabwe dollar at 1/2 of trillion percent. This is price doubling every 11 days. Here is an example of what it is to live in Zimbabwe economy.

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