Zimbabwe Releases A $50 Billion Dollar Bill During Desperate Times

Zimbabwe has seen so many hard times in the recent years that it is difficult to even try to sum up their financial and political situation.  There are more staggering facts than I can ever provide in one article, but I would like to stick these amazing facts in your head:

Almost 80% of its population is unemployed, its currency is dropping in value by almost 100% a day and inflation is running at a staggering 231million%.

Inflation is such a problem right now that the $50billion note is only worth about two loaves of bread on a good day.  But what happens if the currency continues to lose 100% per day?  Countries can’t just keep printing money that they don’t have.  Sound familiar?  This situation makes the United States debt look like someone has $7 on a credit card.

As if this country didn’t have enough problems with all of the turmoil around President Robert Mugabe.  There has been so much world involvement in his presidency, the G8 summit saying they:

do not accept the legitimacy of a government that does not reflect the will of the Zimbabwean people

How is a country ever suppose to recover when the people of an entire country are revolting.  There is a certain time when people begin to believe that things can’t getting any worse.  This country has been saying that for way too long, and somehow it continues to get worse.

I have to say that I first thought the $50billion not was rather funny.  But then I realize what a sad and true situation it is.  If you would like to read more, I have rounded up a couple articles that cover the economic crisis much better than I can:

$50billion Note Introduced in Zimbabwe

What’s Behind Zimbabwe’s Financial Crisis? (Podcast from NPR)

So next time you think your situation is rough (mostly speaking to my fellow Americans), take a look around the world.

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