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It's Worse Elsewhere

If the recent stock market slumps, domestically and abroad, have got you feeling blue… just remind yourself that It Could Be Worse!

Venezuela is launching a new currency with the new year, lopping off three zeros from denominations in a bid to simplify finances and boost confidence in a money that has been losing value due to high inflation.

Some Venezuelan critics, meanwhile, have dubbed the new currency the "weak bolivar," noting its predecessor, the bolivar, has seen its purchasing power suffer in an economy where inflation ran roughly 20 percent in 2007 — the highest in Latin America. [source]

Tremendous mineral wealth — tremendously mismanaged.

The central bank of the southern African country has a issued a 10million Zimbabwe dollar note. The move increases the denomination of the nation's highest bank note more than tenfold.

Zimbabwe faces the world's highest official inflation of an estimated 25,000 per cent. Independent financial institutions say real inflation is closer to 150,000 per cent. [source]

From the breadbasket of Africa — to a country reliant on humanitarian aid.

Beware ye the socialists for they will destroy your economy!


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Tiny Island