Goods reappear in Zimbabwe shops
HARARE (AFP) — A man whistles as he picks groceries from the shelves of a supermarket in Zimbabwe's capital. Another shopper, spoilt for choice, compares cooking oil bottles while queues form at the tills.
In Zimbabwe, these were simple and almost forgotten luxuries.
For more than a year, supermarket shelves were bare and shops resembled empty warehouses as the country reeled under an economic crisis that turned sugar and the staple corn meal into rare commodities.
Now shops are stocking up again, after the government in January agreed to allow retailers to conduct business in foreign currency.
The government has even stopped printing Zimbabwe dollars, which it once churned out in trillion-dollar denominations that quickly became worthless under inflation that independent economists estimated in the quadrillions. (More)
Thursday, March 26, 2009
I came across this today. Zimbabwe still has a long way to go, but at least stores have food now.
Monday, March 16, 2009
The sadest part or this artical is the last sentance.
Gramley said worrying about inflation now is like worrying about causing water damage when considering whether to spray a hose on a burning house. (Whole)
Will the Fed go long?
The Fed won't cut short-term rates at its next meeting, but look for long-term rates to drop if the central bank announces plans to buy Treasurys...