October 28, 2008

Zimbabwe: Hey, how's that wealth-spreading thing working out?

Do you fear "inflation?" Do you even know what it looks like? Here's a little photo-essay that brings the real meaning of government by printing press home. What the real crisis is like!

On the plus side, the use of this technique can mean that America can have just about as many billionaires as it has citizens.

Spreading the wealth!

What the spread wealth buys.

Paying for dinner. The tip is in there, somewhere.

Moral: Those who do not remember the present are condemned to pay for it.

Posted by Vanderleun at October 28, 2008 12:59 PM
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"It is impossible to speak in such a way that you cannot be misunderstood." -- Karl Popper N.B.: Comments are moderated and may not appear immediately. Comments that exceed the obscenity or stupidity limits will be either edited or expunged.

In 1922-23, Germany experienced horrendous hyperinflation, which produced a number of apocryphal stories. Here is one:

"A housewife, needing bread, took a huge basketful of bank notes with her when she made her daily trip to the bakery. As the housewife waited in the bakery line, she turned around and chatted with the women behind her for a few moments. However, when the housewife turned back she was shocked to discover that someone had dumped her currency on the ground...and had stolen her basket."

Posted by: MarkJ at October 28, 2008 1:45 PM

I think that that's not the price of the meal, it's the change that the waiter brought back.

Hey, in these days of iPhones and instant quotes, if the waiter is not quick on his feet the change may be more than what you paid for the meal!

Posted by: Freddy Hill at October 28, 2008 3:06 PM

I remember waiting in many hour long gas lines under Carter with piles of money.

Posted by: Daphne at October 28, 2008 5:45 PM

It's difficult to see the reasoning behind this vaguely-worded post. President George W. Bush has redistributed around $3 trillion a year for seven straight years (from taxpayers and user-fee payers to Government payees) and there has been no hyperinflation; in fact for awhile Bush administration economists were were worried about deflation, not inflation.

Posted by: SB at October 28, 2008 7:11 PM

It's not about the past but about the future. Just wait. It'll be along soon enough.

Posted by: vanderleun at October 28, 2008 7:18 PM