Bad and Really, Really, Really Bad
Living with double-digit interest rates in Brazil.
It could be worse, try living in Zimbabwe with 230,000,000% inflation.
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Friday, January 30, 2009
It could be worse, try living in Zimbabwe with 230,000,000% inflation.
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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4 Comments:
Zimbabwe may completely "dollarize" their economy.
Prof. Easterly has started a new web blog which may be of interest to anyone interested in economic issues of developing nations and international aid.
The 230,000,000% number is so hopelessly old... Try this:
"To get a true sense of the economic problems facing Zimbabweans Professor Steve Hanke from the CATO Institute developed a hyperinflation index that puts the annual inflation rate at around 6.5 quindecillion novemdecillion percent - that is 65 followed by 107 zeros. He noted that prices of basic goods double every 24.7 hours, and this is the reason why shops are refusing to accept Zimbabwean dollars."
Now we are talking.
On the other hand, they've solved their racial problems.
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