There are cash-strapped governments and there are broke governments. And then there’s Zimbabwe, which, after paying last week’s government salaries, has just $217 left in the bank. No, we didn’t forget any zeroes to the end of that figure. Zimbabwe, the country that’s home to some of the world’s largest plutonium and diamond reserves, literally has the same financial standing as a 14-year-old girl after a really good birthday party.
Zimbabwe is hardly a stranger to financial hyperbole. The economy started to come apart at the seams in 2000, when President Robert Mugabe seized the land of over 4,000 white-owned farmers, effectively dismantling the country’s agriculture industry. Over the course of the next decade, the country spiraled into an extended period of hyperinflation, the likes of which the world almost never sees. It peaked in August 2008, when inflation reached 11,200,000 percent and economists around the world started to say that the country’s situation was hopeless.
Get the whole story:
Oh how I envy Zimbabwe (formerly Rhodesia) because unlike the US government, they actually have $217. All we got is debt. We’d have to cough up $17 trillion just to be able to brag that we’re flat broke. I’d also be willing to bet they don’t allow a bunch of cranky environmentalists to stand in the way of mining whatever resources they have. Or waste tax dollars on pie-in-the-sky green energy schemes that never have and never will pay off.
That pile of rocks and weeds on their currency supposedly represents the ‘city of Zimbabwe’. The only ancient stone structure in all of sub-Saharan Africa. But don’t confuse it with the pyramids, this “great city” was just piles of rocks. The builders hadn’t even figured out how to alternate rows of stones to make it stable, hence, most of it collapsed into rubble.
Many many years ago I knew a white expat from Rhodesia who told me “Tourists came to Rhodesia to view the ruins of Zimbabwe. Now they come to Zimbabwe to view the ruins of Rhodesia.”
Obama seems bound and determined to follow in the footsteps of his dear friend and ideological cousin Mugabe. Left unchecked, Obama’s policies will make every American a millionaire, then a billionaire and finally a trillionaire. Someday, tourists will come to view the ruins of America.