Monday, July 9, 2007

Fed announces mass arrests to control inflation

Nothing controls inflation like a nice mass arrest of businessmen:

A total of 1,328 Zimbabwean businessmen and women have been arrested and fined for breaking official price controls in the past two weeks, police say.

The government ordered that the prices of many goods be cut in half, in order to tackle the world's highest rate of inflation - more than 3,700%.

But businesses say the new prices are below cost, so some firms have
closed.
Please remember that Zimbabwe is the Chair of the United Nations Committee on Sustainable Development. Seeing as how Canadians are such supporters of the UN, this is a policy that the Bank of Canada should consider rather than blindly following the US Fed's habit of adjusting interest rates.

2 comments:

Anonymous said...

The Government of Canada's and the Bank of Canada's philosophy and their policies are *identical* to the fiscal policies of Mugabe, and the results will be precisely the same (the reversion of Canadian paper/electronic money to its intrinsic value and the ruination of everyone who is unable to transfer their wealth to hard assets in foreign shelters). The only difference is in the amount of haste with which they desire to plunder the economy and line their own pockets and the pockets of their friends and supporters.

Whereas Zimbabweans are being roasted to the popping point in a microwave oven, you enlightened Canadians are like frogs in a simmering stewpot on very low heat.

rhebner said...

Are you suggesting that you can't control price without any adverse effect on supply/demand?

Boy, somebody better tell Health Canada that big news.