Leaders of the southern African region met in Zambia this weekend for an emergency summit on Zimbabwe's increasingly tense electoral impasse. By Scott Baldauf | Staff writer and Joseph J. Schatz | Correspondent BULAWAYO, ZIMBABWE; AND LUSAKA, ZAMBIA - The possibility of a runoff vote increased ...
Take Zimbabwe. If You Have No Market to Buck, Because You Have Been Deprived of Your Markets and Your Credit Lines by Foul Western Economic Sanctions, Then You Can Do What the Hell You like. If You Cannot Operate Orthodox Economic Theories, Then You Have to Operate Unorthodox Economic ...
This can only happen when there is hyperinflation or an exchange rate crisis. This happened to Zimbabwe in 2008 when the inflation rose to an estimated at 79.6 billion percent per month, and the YoY inflation rate touched 89.7 sextillion percent! The currency’s value went into freefall and ...
Hyperinflation occurs when prices rise massively, sometimes considered to be at arate of around 50 percent each month. Think: 1920s Germany or the current economies of Venezuela or Zimbabwe. But only a rare combination of policymaking missteps lead to this environment, from exploding government spe...
One side has caused more devastation to the country, and unbearable suffering upon the people - than the other. Even if one speaks to urban dwellers themselves - in spite of the misery brought upon them by opposition councils - they still cry more about the broader economic crisis and poverty...
Scorching October puts 2023 on track to be hottest year in 125,000 years | Climate Crisis News | Al Jazeera Rainforest loss in South-East Asia could extend El Niño and La Niña | New Scientist Human-induced climate change compounded by socio-economic water stressors ...
Zimbabwe This Mournable Body by Tsitsi Dangarembga (Graywolf Press, 2018) Buy Now: bookshop.org Set in the late 1990s in Zimbabwe, This Mournable Body follows a narrator named Tambu, who is educated but unemployed and reckoning with betrayals of all stripes. Eventually, Tambu’s hope for ...
Fiat money is tender not backed by a tangible asset or commodity like gold. It’s usually mandated by governments & leads to corrosive effects on society.
A crack-up boom is an economic crisis that involves a recession in the real economy and a collapse of the monetary system due to continual credit expansion and resulting in unsustainable, rapid price increases. This concept of a crack-up boom was developed by Austrian economistLudwig von Misesa...
Experts suggest that the currency lost 99.9% of its value during this time. Prices rose rapidly and consumers carried bags full of money just to purchase basic staples. The government of Zimbabwe was forced to issue a 100-trillion Zimbabwean dollar note at the height of the crisis. Foreign c...