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| Africa Subsaharan | |
| 2007-07-16 | |
Zimbabweans are shopping like there's no tomorrow.
Car dealers said officials were trying to force them to sell vehicles at the official exchange rate, effectively meaning that a car costing R212 000 ($30 000) could be had for R425 ($61) by changing money on the black market. The owners of several dealerships have been arrested. President Robert Mugabe's order that all shop prices be cut by at least half, and sometimes several times more, has forced stores to open to hordes of customers waving thick blocks of near worthless money given new value by the price cuts. The police and groups of ruling party supporters could be seen leading the charge for a bargain. Mugabe has accused business interests of fuelling inflation, running at about 20 000%, to bring down his government. A hotline is in place to report "overcharging", and retailers who flinch at slashing prices are being dragged before the courts. Several thousand have been arrested for "profiteering" over the past week, including the chief executives of the biggest retailers in the country, some of them foreign-owned. Balance of this kak can be found at the link. | |
| Posted by:Besoeker |
| #3 Do you think the shelves will restock themselves? |
| Posted by: Skunky Glins5285 2007-07-16 15:12 |
| #2 And it won't even be worth that if there's no fuel... |
| Posted by: M. Murcek 2007-07-16 10:14 |
| #1 I always thought supply and demand was overrated as a mechanism for setting prices. The guy who bought the $30K car for $61 will be trying to trade it for a loaf of bread in a couple of weeks. |
| Posted by: Lanny Ddub 2007-07-16 07:53 |