Monday, May 21, 2012

Picture of the Day: Inflation

From The Daily Beast's review of the NY Fed's exhibit Signs of Inflation.  Sign #1: when you need to print one hundred trillion dollar bills.

Of course this sign of runaway inflation in Zimbabwe is remarkable given that in 2007 the government of Zimbabwe declared inflation illegal.  Problem solved, right?  [Quick, econ majors and econo-enthusiasts, why didn't this work??]

Oh and I should mention - how much was 100,000,000,000,000 Zimbabwe Dollars worth at the time this note appeared?  70 cents.

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