Peacenik has raised this before. Here is one possible future for Canada and/or the U.S. Bad economic policy has consequences. Is Zimbabwe the future? Maybe.
By Ian Parker
Posted Monday, August 31 2009 at 00:00
By Ian Parker
Posted Monday, August 31 2009 at 00:00
Counting a bunch of Zimbabwean dollars. Picture: Reuters
THE CHEQUE HAD SPACES FOR NOT ONLY BILL-ions, but trillions, quadrillions, quintillions and hexatillions: the last three being words I had never encountered before.
One hears of Zimbabwe’s problems, but it is not until you actually see its cheques and bank notes, that reality strikes home. What seems like an awful lot of money is worth nothing. The 10 trillion dollar note above was offered to a hawker on a Harare street for one avocado and he refused to accept it.
What madness led Zimbabwe to even print such worthless currency? Now, of course, its government has given up and the only acceptable currency is the US dollar. How the man in the street is expected to obtain American dollars is a mystery.
Read on...
