2 CHARTS: EXCELLENT NEWS: Zimbabwe (formerly Rhodesia) is hit by hyperinflation & economic collapse AGAIN!

[This terrible news puts a BIG SMILE ON MY FACE! This is f*cking AWESOME!! The blacks have struggled for years, since seizing the white farms to try to get their economy back on the road. But now the economy is totally f*cking imploding to HELL! I heard that they’ve been hit by hyperinflation again. The last time they had hyperinflation, it was worse than Weimar Germany, and eventually they lost their entire currency. They tried all kinds of tricks including “Bearer Bonds” and everything you could think of. In the end, they actually settled for US Dollars to become their currency.

Then over the last several years, they seem to have stabilised things. But now the country seems to be in total collapse. There were riots, etc this week.

The Rhodesian side of me is LOVING THIS! Sink you useless f*cks! You screwed us. You bunch of worthless dogs. Sink! You voted for your communit Govt! I hope you die.

So the President is running around trying to contain the economic collapse. Beautiful stuff. The blacks have managed to screw up 90 years of white progress in less than 15 years. May they sink. And I wish the bloody Western world would stop FEEDING THEM AND BAILING THEM OUT FFS! Let them reap their just rewards. I love this. They have total chaos and THEY ONLY HAVE THEMSELVES TO BLAME! I wish for once the bloody Western World would leave blacks alone to suffer their just rewards for their own stupidity, greed, etc. Let the blacks be punished justly for their madness. Let them be made an example of. If whites left all black countries to suffer their just rewards for their own madness, then you would see blacks quickly waking up and saying the nicest things to whites. Instead, Liberals and Jews help to foment the madness.

For the record, in 2008, the hyperinflation at its peak hit 79 billion percent per month or 98% per day!

Here’s the chart for 2008:-

You can read about it here: https://www.economicshelp.org/blog/390/inflation/hyper-inflation-in-zimbabwe/

Things are much better than in 2008. But as you will see even last year, inflation of 100% per month was normal. Here’s the chart for 2017 where it peaked at a mere 350%. Even so that’s still terrible:-

Source for the above is: https://www.zambianobserver.com/mugabe-out-emmerson-mnangagwa-in-inflation-down-current-annual-rate-32/

It seems that in 2018, a year later, things are a lot worse. But I could not find new charts to show you. But from what I’ve been picking up, its really bad. So it might even be worse than 2017.



President Emmerson Mnangagwa is leaning heavily on his officials to restore sanity in the country’s economy with analysts saying their knee-jerk responses betray unprecedented levels of panic.

Mnangagwa’s governing Zanu PF party now believes that there is a third force behind the economic meltdown, bent on sabotaging its efforts at reviving the economy.

Party spokesperson Simon Khaya Moyo issued a stinging statement on Tuesday, blaming external forces for throwing spanners into the works — two months after the July 30 polls.

“It is therefore correct to suggest that there is a hidden hand in all what is transpiring in our economic scenario; economic sabotage is at play,” Khaya Moyo said.

“The fluidity of exchange rate fluctuations on the informal market and the rampant price escalations are artificial and cannot be justified as they are not informed by economic fundamentals,” he added.

Earlier, party youths had declared war on illegal foreign currency traders and Zanu PF bigwigs suspected of driving rates on the thriving black market.

Zanu PF youth league secretary Pupurai Togarepi gave the traders a week to leave the streets or face the consequences.

Despite his ominous warning, the bond note continued to crash precipitously against the United States dollar — causing mayhem in mainstream business and resulting in panicking shoppers rushing to hoard basic goods.

Yesterday, Finance minister Mthuli Ncube — whose austerity measures triggered a storm last week — issued another statement to calm the markets.

The crisis followed his introduction of a transaction tax pegged at two cents per dollar that backfired spectacularly after it was roundly rejected by crisis-weary Zimbabweans.

Ncube appeared to be mellowing yesterday, saying the country shall continue to use the multi-currency system, put in place by government in 2009.

“This system entails that foreign exchange earners are not prejudiced of their regulatory foreign exchange receipts and that those who do not earn foreign exchange have access to foreign exchange through the banking system as is per the current policy of foreign exchange management system,” he said.

The Finance minister said it is critical to re-state government’s great commitment to reducing fiscal imbalances which are the root cause of the many challenges the economy is facing.

“The challenges include cash shortages and the proliferation of foreign exchange parallel market rates which have a negative effect on prices,” Ncube said in a statement.

“These challenges require that government positions the economy on a strong footing by implementing reforms that include cutting on government expenditure, working towards import parity pricing system, increasing efficiency on government delivery systems and fast-tracking the State-owned enterprises reforms, among a host of reforms.”

Political analyst Maxwell Saungweme said believing that the price hikes were not a result of economic fundamentals at play, but sabotage of a political nature was “sheer illiteracy and psychosis wound in one”.

He blamed the crisis on Zanu PF’s excessive borrowing from the central bank to bankroll its elections campaigns as well as policy inconsistencies in government.

“To try and explain this as economic sabotage is very rudimentary and heedless and points to a panicking government,” Saungweme said.

He said focus should be on getting every Zimbabwean together and confront the fallout from the policy changes together than further dividing people by cooking up unfounded economic sabotage claims.

“Smart people look for solutions and obtuse ones look for blame,” Saungweme said.

United States-based human rights activist Dewa Mavhinga said what is obtaining in the economy was predictable “given the lie perpetuated for years that the bond note was the same as the US dollar”.

“Another factor that contributed to the madness is the cruel and unjustifiably punitive two percent tax to the suffering masses of Zimbabwe,” Mavhinga said.

He said overtaxing Zimbabweans will not result in the country being open for business, as Mnangagwa claims.

“Rather, the clueless authorities are closing Zimbabwe for business,” said Mavhinga.

— DailyNews

Source: https://www.myzimbabwe.co.zw/news/33180-president-mnangagwa-in-panic-mode-as-zimbabwe-plunges-into-its-worst-economic-crisis-in-a-decade.html

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