Thursday, October 26, 2006

Welcome to Zimbabwe...

I have a friend from Zimbabwe, where 1 US dollar equals 1 million Zimbabwe dollars. The inflation rate for this country is roughly 1,200% per year. To curb inflation, they have cut 3 zeros off of their currency. He figures that he has easily counted a billion dollars before.

Much of Zimbabwe's economic troubles are directly related to the corruption and human rights abuses that have been suffered under President Robert Mugabe. Mugabe has been "elected" president of Zimbabwe since 1980s. In the free world, we like to call Presidents who reign for 25 years, dictators.