Currency Hot Potato
Apparently Zimbabwe had an inflation rate of 14,000% last month, for a total of 531 billion percent inflation this year. If we assume for simplicity that inflation occurs only during working hours, if we spread if over 22 days a week, this means that ones pay at the end of the day is worth only 1/3 its value by lunch the next day, and 1/6 its value by the end of the next day. My understanding is that Zimbabwe companies pay their employees several times a day and let them go out at lunch and buy something, anything, tangible with the cash before it is worthless a few hours later.
By the way, I have my Zimbabwe 50 and 100 billion dollar notes on the wall of my office. I am hoping for a trillion dollar note to go with it. Meeses and Gippers coming soon.
