Sunday, February 11, 2007

Socialism in action

Our votes must go together with our guns. After all, any vote we shall have, shall have been the product of the gun. The gun which produces the vote should remain its security officer - its guarantor. The people's votes and the people's guns are always inseparable twins.

Robert Mugabe
President Robert Mugabe’s latest attempt to control the increasingly desperate situation his government has brought about in Zimbabwe is to outlaw inflation. (HT: jomama)
The trigger of this crisis — hyperinflation — reached an annual rate of 1,281 percent this month, and has been near or over 1,000 percent since last April. Hyperinflation has bankrupted the government, left 8 in 10 citizens destitute and decimated the country’s factories and farms.

[..] Citing a leaked central bank document, Reuters reported Tuesday that prices of basic items like meat, cooking oil and clothes had risen 223 percent in the past week alone.

[..] The central bank’s latest response to these problems, announced this week, was to declare inflation illegal. From March 1 to June 30, anyone who raises prices or wages will be arrested and punished. Only a “firm social contract” to end corruption and restructure the economy will bring an end to the crisis, said the reserve bank governor, Gideon Gono.

[..] The black market, which already flourishes beyond the reach of tax collectors and regulators, is likely to grab an even larger share of the economy when the government freezes prices in March, because stores will be unable to make a profit selling products at government-fixed prices.
C/P: The Broom


Peter K. said...

What the hell is a "black market"? Informal economy perhaps?

Fenris Badwulf said...

You gotta love that Robert Mugabe. The hero of the left when he was throwing over Rhodesia and ushering in a model socialist state. Which is what we all can look forward too if and when the activists get their loving tentacles into the machinery of power. It is amazing how consistent these Bolshevik rulers are when they are in power.

Anonymous said...

Outlaw inflation?
That's right good thinking.
Close down the bit of business
left operating, go all black
market and completely lose all
Almost as intelligent a decision
as wrecking ruin on the few
producing farms in country.
Such dimness is underwhelming.