Hyperinflation in Zimbabwe Options

[-DS-]

From the article Hyperinflation in Zimbabwe:

The unstable Government of Zimbabwe is currently led by Robert Mugabe. Mugabe's regime is known for massacring citizens, controlling the media, and perpetuating corruption within the government[citation needed].

Am I the only one who finds this funny?

This post has been edited by -DS-: Thu 1st September 2011, 9:57am

[Somey]

Am I the only one who finds this funny?

You mean the "citation needed" part? No...

Despite that, a citation would probably be a good thing there, if only for the sake of appearances. You wouldn't think there'd be a shortage of them either, though finding one that summarizes the situation that neatly might be a problem.

[A Horse With No Name]

From the article Hyperinflation in Zimbabwe:

The unstable Government of Zimbabwe is currently led by Robert Mugabe. Mugabe's regime is known for massacring citizens, controlling the media, and perpetuating corruption within the government[citation needed].

Am I the only one who finds this funny?

If there is WiFi in Heaven, I am sure Ian Smith is having a good chuckle.

[It's the blimp, Frank]

Along with all the media-controlling, corruption-perpetuating governments in the northern hemisphere who will never have these facts mentioned in Wikipedia, because it is sourced to the very media they are controlling.

[EricBarbour]

Except for the idiotic editorializing, that's not a bad article. Although I think it should probably be put into a single article with other examples. Mugabe's government didn't invent it.

[Detective]

Except for the idiotic editorializing, that's not a bad article. Although I think it should probably be put into a single article with other examples. Mugabe's government didn't invent it.

Indeed, as Wikipedia points out, Hungary experienced the most serious hyperinflation ever recorded. Inconsistently, the article is not called "Hyperinflation in Hungary" but Hungarian pengő (T-H-L-K-D). Go figure. However, while the German and Hungarian episodes were contemporary and arose from broadly similar causes, the factors behind the Zimbabwean situation were very different. So maybe it deserves a separate article.

What surprises me is that the inbuilt liberal bias in Wikipedia would surely encourage the whitewashing of references to Mugabe, that great liberator of an African country from Imperialistic British rule.

[Zoloft]

Except for the idiotic editorializing, that's not a bad article. Although I think it should probably be put into a single article with other examples. Mugabe's government didn't invent it.

Indeed, as Wikipedia points out, Hungary experienced the most serious hyperinflation ever recorded. Inconsistently, the article is not called "Hyperinflation in Hungary" but Hungarian pengő (T-H-L-K-D). Go figure. However, while the German and Hungarian episodes were contemporary and arose from broadly similar causes, the factors behind the Zimbabwean situation were very different. So maybe it deserves a separate article.

What surprises me is that the inbuilt liberal bias in Wikipedia would surely encourage the whitewashing of references to Mugabe, that great liberator of an African country from Imperialistic British rule.

I'm a liberal. I think Mugabe should have breakfast with the Navy Seals.

[Somey]

What surprises me is that the inbuilt liberal bias in Wikipedia would surely encourage the whitewashing of references to Mugabe, that great liberator of an African country from Imperialistic British rule.

The right-wing liberator, you mean? I dunno, the article is really more about hyperinflation, not Mugabe himself. Hyperinflation... that's a conservative thing. Liberals don't like to print money, they prefer to get it from rich people.

[everyking]

The commentary is gone now. Why didn't someone just remove it before?

[Michaeldsuarez]

From the article Hyperinflation in Zimbabwe:

The unstable Government of Zimbabwe is currently led by Robert Mugabe. Mugabe's regime is known for massacring citizens, controlling the media, and perpetuating corruption within the government[citation needed].

Am I the only one who finds this funny?

http://en.wikipedia.org/w/index.php?title=...oldid=424518519:

Re design of the entire page due to suggestions and the Wiki project at Indiana University

It was added in as a part of an university project.

This post has been edited by Michaeldsuarez: Tue 27th September 2011, 5:40pm

[Herschelkrustofsky]

Mod note: I moved some off-topic squabbling to this location.

BTW, I hope someone is doing some preparatory work for the [[Hyperinflation in Europe]] article.

[Herschelkrustofsky]

Many of the "socialist reforms" that Mugabe imposed is exactly why there needed to be hyperinflation, and that liberals are fond of both taking people's money and printing more money. Afterall, they believe money is solely connected to the government and not intrinsic representation of people's work and effort.

That's an interesting point, Ottava, because in point of fact, money is solely connected to the government and not intrinsic representation of people's work and effort. The bizarre doctrine of monetarism has become hegemonic in Europe and North America, and people have come to believe that an economy is all about money, which presumably was to delivered to us by God in the form of some sort of primeval stash guarded by Nibelungs. No, Ottava, in reality, money is simply a political creation of governments. Except that lately, they have farmed out that authority to central banks, who are busily cooking up the mother of all hyperinflationary binges right now as we speak.

[GlassBeadGame]

Mod note: I moved some off-topic squabbling to this location.

BTW, I hope someone is doing some preparatory work for the [[Hyperinflation in Europe]] article.

In what sense is what remains "on topic?"

[Herschelkrustofsky]

In what sense is what remains "on topic?"

Mod's note: point taken. The latest digression, including material on glass beads as medium of exchange, has been moved here.

[communicat]

The unstable Government of Zimbabwe is ... known for ... perpetuating corruption within the government

The article also says (contradictorily): "Zimbabwe's government ranks 134th of 176 in terms of institutionalized corruption."

134th of 176 countries? That's a fairly good rating by world standards. Certainly not consistent with allegation of "perpetuating corruption".

[Herschelkrustofsky]

The unstable Government of Zimbabwe is ... known for ... perpetuating corruption within the government

The article also says (contradictorily): "Zimbabwe's government ranks 134th of 176 in terms of institutionalized corruption."

134th of 176 countries? That's a fairly good rating by world standards. Certainly not consistent with allegation of "perpetuating corruption".

It should also be noted that the source for the corruption allegations is Transparency International, affiliated with the Crown Agents Foundation and generally regarded as a British Intelligence asset. Countries that don't play ball with the Empire are accused of all sorts of corruption and human rights problems. Countries that do play ball are curiously exempt.

[radek]

The unstable Government of Zimbabwe is ... known for ... perpetuating corruption within the government

The article also says (contradictorily): "Zimbabwe's government ranks 134th of 176 in terms of institutionalized corruption."

134th of 176 countries? That's a fairly good rating by world standards. Certainly not consistent with allegation of "perpetuating corruption".

It should also be noted that the source for the corruption allegations is Transparency International, affiliated with the Crown Agents Foundation and generally regarded as a British Intelligence asset. Countries that don't play ball with the Empire are accused of all sorts of corruption and human rights problems. Countries that do play ball are curiously exempt.

Even if that's true the index is composed by surveys of non-British Intelligence agencies (at least not obviously). So unless you think they explicitly monkey with the response data, it probably accurately reflects what these organizations actually think.

The unstable Government of Zimbabwe is ... known for ... perpetuating corruption within the government

The article also says (contradictorily): "Zimbabwe's government ranks 134th of 176 in terms of institutionalized corruption."

134th of 176 countries? That's a fairly good rating by world standards. Certainly not consistent with allegation of "perpetuating corruption".

Lol. No, it's not. It's just not "the worst of the worst".

I do think that Russia's very low rating (below Zimbabwe) is bunk though.

[radek]

Mod note: I moved some off-topic squabbling to this location.

BTW, I hope someone is doing some preparatory work for the [[Hyperinflation in Europe]] article.

Why? Compared to US, Europe has always had very low inflation (a legacy of the super inflation adverse Bundesbank) so now that they're reaching the super crazy level of ... 2.5%, it's gonna be hyperinflation? Don't think so. Hell, they're probably a percent point or two away from an optimal level.

This is what I don't get: at a time when inflation is at a lowest point in US (and only slightly higher in Europe) since the Great Depression all these people are running around screaming about "hyperinflation" (something usually defined as more than 50% per month - annualized that's a rate of 8650% per year ... compare that to the measly 2.5% Europe has now). Perry is threatening Bernanke about printing money ... something weird's going on. Inflation's about the last of our worries now.

[Kelly Martin]

Inflation's about the last of our worries now.

Indeed, anyone with any sense at the moment is becoming very concerned about deflation. The prices of virtually all durable goods in the US, not to mention homes, have plummeted in the past 24 months; the only thing that's keeping CPI growth positive are skyrocketing energy prices (largely driven by the BP oil spill) and fairly strong food prices (due largely to ongoing wheat failures in India and the depletion of corn reserves for fuel ethanol production). Hyperinflation may be bad, but a deflationary spiral is far far worse.

[radek]

Inflation's about the last of our worries now.

Indeed, anyone with any sense at the moment is becoming very concerned about deflation. The prices of virtually all durable goods in the US, not to mention homes, have plummeted in the past 24 months; the only thing that's keeping CPI growth positive are skyrocketing energy prices (largely driven by the BP oil spill) and fairly strong food prices (due largely to ongoing wheat failures in India and the depletion of corn reserves for fuel ethanol production). Hyperinflation may be bad, but a deflationary spiral is far far worse.

You're right in general but wrong in one particular detail - energy prices are not included in CPI. I'd have to look up the details to be sure but I'm guessing that in addition to food (which you are right about), it's medical costs that are keeping it at one-half-of-one-percent or so (again - compare that to the historical post war average inflation for US of about 5% and wonder why people are bitchin' about Bernanke printing money at this particular point in time)

Btw, the Wikipedia article on the CPI is another example of a horrible economics article.

(Quick clarification - price of gas is in CPI but by itself does not have a high enough weight to account for much of it)
(Quick clarification 2 - actually scratch that. I was thinking - for completely unrelated reasons - of Core CPI. The most often quoted CPI does have energy prices in it)

http://www.bls.gov/news.release/cpi.t01.htm

This post has been edited by radek: Fri 30th September 2011, 4:47am