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2006-03-05 Africa Subsaharan

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Posted by Steve White 2006-03-05 01:15|| || Front Page|| [11130 views since 2007-05-07] Top

#1 Any economists out there who could give us a reasonable comparison to the runaway inflation in postwar Germany? (WW1)

At first glance this sounds very similar.

Posted by Redneck Jim 2006-03-05 09:42|| 2006-03-05 09:42|| Front Page Top

#2 Bob is amazing - transforming an economy that produced a food surplus to one where people are starving in just a few years.

Posted by DMFD 2006-03-05 10:32|| 2006-03-05 10:32|| Front Page Top

#3 From the middle of 1922 until the middle of 1923, prices increased by over 100 times. Measured by the price of food, prices were 135 times higher at the end of the period than they were at the beginning. Measured by how many marks it took to buy a dollar, prices were 222 times higher. Yet even this horrid inflation was mild compared to what happened from July to November of 1923, when prices increased by somewhere between a million and a billion times their previous level.

Those quarterly rates for 3Q23 are somewhere between 125% and 410% per week. So Bob isn't #1 yet, but he's getting there.

Posted by Nimble Spemble 2006-03-05 10:55|| 2006-03-05 10:55|| Front Page Top

#4 It's not as Weimar yet. At one point $1 = 1 trillion marks (e.g. bread = 200 billion marks). People being paid hourly and wives rushing from the factory to stores with wheelbarrows of money was not a myth. From noon to 5pm, most of the value was lost and prices would be increased hourly.

BTW, German hyperinflation was kicked off by the illegal French and Belgian occupation of the Ruhr to force reparation payments.

Posted by ed 2006-03-05 11:28|| 2006-03-05 11:28|| Front Page Top

#5 It's not as bad as Weimar yet.

Posted by ed 2006-03-05 11:30|| 2006-03-05 11:30|| Front Page Top

#6 It's time to beat the plowshs back into swords in Zimbobland.

Posted by Spoter Unatle4689 2006-03-05 17:30|| 2006-03-05 17:30|| Front Page Top

#7 So when you run out of wheat cause you ruined all the farms you respond by robbing the mines and yelling to the world that you are out of wheat?

Who cares!

Posted by 3dc 2006-03-05 22:25|| 2006-03-05 22:25|| Front Page Top

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