World's Highest Inflation Rate = 100,000%
A US $100 bill in Zimbabwe now buys 20kg (44 pounds) of local currency, as Zimbabwe's currency tumbled to a record low of 25 million Zimbabwe dollars per USD. Zimbabwe has the world's highest inflation rate of 100,000%.Read more here.
What happens when you have 100,000% inflation? Zimbabwe has had a 51% fall in agricultural output between 2000 and 2007, a 47% fall in industrial output, and a 35% fall in resources output. Over the same period, GDP per capita has fallen by more than 40%.
Now THAT'S stagflation!
10 Comments:
The US is going to find out what this is all about in a few years time as the dollar becomes worthless and is replaced at a rate of 10 dollars now to 1 new dollar. It's coming get ready, sadly most are in denial.
Dear anonymous,
While you can still afford them, stock up om the meds you need. Don't stop taking them now just to save them for later.
``We have a dollar that's adjusting, and I am for a strong dollar,'' --George Bush
fred
http://quotes.ino.com/chart/?s=NYBOT_DX&v=d6
Take a good hard look. FED meeting with more rate cuts on the 18th to bail out insolvent banks, nearly 1 trillion dollar budget deficit, slowing economy = less taxes to pay debt, 57 trillion in unfunded liabilities and baby boomer quickly nearing retirement with little savings, and falling home values.China and the nuclear option, gulf states dropping currency pegs, Ben Bernankie the FED chairman famous for the helicopter speech. It's coming get ready or get run over the choice is up to you.
I know you. You are the old guy that stands downtown with the sign that says "The End Is Near." He has to have been there at least thirty years.
I heard a quote from Lawrence Kudlow yesterday:
"Pessimism should not be our national pastime.
Yeah, life is full of choices. I just can't see being limited to the choices you offer.
Serbia had a similar rate of inflation in the 1990s, partially because of sanctions. They had a joke that goes like this:
I guy takes a wheelbarrow full of money to the bank to deposit it and leaves it out front while he goes inside to arrange the deposit. When he comes out, the money is dumped on the ground and the wheelbarrow is gone.
Why does CD recycle the same old stories over and over and over again.
insted of watiting for loang time goverment of india shold go for analysis.they should give priority to priority sector like agriculture and manufacturing, Likewise proper form the policies for Businesses and make tax patten better.
It would help tem to increase per capita income
They should go for re engeneering or start from Zero level
This bailout plan of Obama and the Dems is breathtaking, unaffordable, unsustainable, and highly delusional. The end result could possibly be the destruction of the currency. Have we become a 3rd world nation?
I can't imagine how this inflation rate, hyperinflation actually, affected all the sectors of the economy, and especially the consumers.
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