Friday, April 27, 2007

Zimbabwe Inflation Reaches 2,200%

What's inflation? Inflation is:-
1 the action of inflating or the condition of being inflated.
2 Economics a general increase in prices and fall in the purchasing value of money.

In Zimbabwe, a nation at the southern African continent, it's inflation rate has reached a record 2,200% in March due to economic destability coupled with political crisis. That's what could happen to a country when it's not stable. Malaysia's political people tend to play with fire, trying to ignite various issues and blamed it on racial. Or setting up terms and conditions on racial terms. Imagine your plate of 'nasi lemak' could rise up to RM44.00 from RM2.00. But your salary MAINTAINS!!!!!!!

Zimbabwe's banks' secured interest rates would rise to 600%, up from the current rate of 500%. Malaysia's current banking rates at the moment is around 6% to 7%. Imagine if it jumps up by 100%, current monthly repayment of RM1,000 will be come RM2,000 in no time. A 600% jump???? (source: BBC News/Africa)

As what the Malaysia's new king said yesterday "Stay united / We must maintain this precious unity to the best of our ability".
Tags: Zimbabwe, Inflation, Economics, Purchasing Value

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