Saturday, August 08, 2015
One Hundred Trillion dollars or One Cent
In the summer of 2008, the United States’ economy saw its highest levels of inflation in a almost two decades - peaking at 5.6% in July. If that sounds off-putting, Zimbabwe’s economy is downright terrifying. In 1998, Zimbabwe witnessed 32% inflation. Ten years later? 11,200,000,000 percent that August. By November 2008, per one estimate, prices were doubling every 31 hours. (That’s not a record - post-World War II Hungary saw prices which doubled in half that time.) With 100 billion (yes, billion). Zimbabwean dollars valued at roughly 65 American cents (yes, cents), even eggs were expensive. The solution: Really big bills. Witness the $100,000,000,000,000 bill.