There's inflation, and then there's inflation

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Everyone complains about the rising costs here in the US, which are rising due to decades of liberal energy policies preventing supply from keeping up with demand. But at least we don't yet have runaway inflation like Zimbabwe:

HARARE, Zimbabwe - Weary Zimbabweans are facing a new wave of price increases that will put many basic goods even further out of their reach: A loaf of bread now costs what 12 new cars did a decade ago.

Independent finance houses said in an assessment Tuesday that annual inflation rose this month to 1,063,572 percent based on prices of a basket of basic foodstuffs. Economic analysts say unless the rate of inflation is slowed, annual inflation will likely reach about 5 million percent by October.

As stores opened for business Wednesday, a small pack of locally produced coffee beans cost just short of 1 billion Zimbabwe dollars. A decade ago, that sum would have bought 60 new cars.

As bad as things are here, at least our oil-driven problems can be fixed over time - all it requires is for Republicans to stop acting like Democrats when it comes to oil policy (listening, Sen McCain?) and for Democrats to start thinking about what's best for Americans instead of bowing and scraping to environmental extremists who oppose anything resembling common sense.

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This page contains a single entry by LB published on May 22, 2008 4:15 AM.

Boeing Sabotage Update - Disgruntled Employee Under Arrest! was the previous entry in this blog.

Finally - Myanmar agrees to let foreign aid in is the next entry in this blog.

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