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Here's a colorful and terrifying account of the hyperinflation going on now in Zimbabwe:

Zimbabwe's official inflation is 4,500% but independent economists and retailers say it is really above 11,000% and picking up speed...

Hyperinflation is spreading poverty, as even basic goods become unaffordable. Supermarket trollies lie idle as few can afford to buy more than a handful of goods. Government regulations only permit the withdrawals from banks of Z$1.5m a day, which is not enough to buy a week's worth of groceries.

Golfers pay for drinks before they set off on their round, because the price will have gone up by the time they have finished the 18th hole. One Zimbabwean was recently told by a pension company that it would no longer send him statements as his fund was worth less than the price of a stamp...

Strangely, this article offers not the slightest insight into why it is happening. My be like a drought, or an earthquake, or a plague. Just happens. Soon enough the United Nations will blame it on global warming.

Thanks to reader Richard Ridgeway for the link.

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