$50 Billion Is A Lot Of Bread

We are lambasted daily with the sorry state of the economy. Such losses have not been seen in fifty years, and the figures for unemployment are going higher every day; if one wished to count the number of "underemployed" in the figures, the total would be close to double the official estimate of 7.2% We hear less about foreclosures, probably since just about everyone in danger has been forclosed upon: vacant, empty windows stare out of far too many "homes" these days. Gasoline, which had dropped precipitously just in time to put a stop to mutterings of riotous unrest and drive-off gas theft among many, has begun to creep upward, and I say it will continue until we reach levels higher than we bemoaned last year...but that's just my predicition. In spite of all of these gloom and doom facets of life here, most of us can, at least, buy a loaf of bread. And we don't need $25 billion to do it.
Lest you think I've inflated the economic parameters too far, don't go to Zimbabwe. I mentioned in a previous blog that the economy was so far inflated in that country that money was practically worthless. Now, it's worse than useless. In case you haven't been following the story, Robert Mugabe is the leader of Zimbabwe, but things were so bad in that country that new elections were held: elections which he lost but refused to give up. The opposition leader Morgan Tsvaugirai was forced to flee the country to avoid being "de-elected." As conditions worsened, Mugabe reluctantly agreed to "share" power with his victorious opponent, but months later, nothing substantive has happened because Mugabe insists on naming the cabinet posts: all this from a guy who LOST an election. But back to inflation.
Three weeks ago, the government began printing $10-billion dollar notes! With an inflation rate of more than 231%, they became useless in no time for any sort of purchase, so now the government has taken to printing bills worth $50 billion. What will a $50-billion dollar bill get you in Zimbabwe? Two, count them two, loaves of bread. Seriously. Two loaves of bread, and with unemployment hovering around 80%, not many people can even afford THAT! Very few businesses even accept the local currency anymore, preferring any kind of foreign currency. Just why the government continues to print its own is a mystery.
America is begiining to look like the land of milk, honey and bread that it was advertised to be!
On the other hand, one could move to Zimbabwe and own the whole country on a Social Security check. Think I'll stay put even though the high temperature on Thursday is supposed to be minus two...at least I'll have bread to eat.