Zimbabwe Inflation Running at 100,000%, Life Expectancy Drops to 37

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Look at Zimbabwe. Inflation is officially running at about 7,000% per year. But unofficial estimates say the rate for this year will turn out to be more like 100,000%. Marc visited Zimbabwe recently. He says he went out to buy a bottle of orange squash on Monday; it was 120,000 Zim dollars. On Tuesday, the price had gone up to 180,000. And by Friday, it was at 600,000.

This would seem all very funny, but currencies mean something to ordinary people. At the margin, they can make the difference between life and death. Thanks to Robert Mugabe’s financial management, the average man in Zimbabwe can expect to drop dead at the age of 37. As recently as 1990, he could have looked forward to 60. While life expectancy plummeted, so did job expectancy. The average guy has only a 50/50 chance of finding work.

But here’s the kind of detail that gives us hope for the future. We may not survive it, but at least it will be amusing. It’s apparently the Africans’ turn to head the UN Commission on Sustainable Development. Naturally, they turn to a country that has found a way to sustain un-development – Zimbabwe. The country has been going downhill ever since they kicked Ian Smith out of office in 1979.

(Ian Smith is still alive, we believe. He is living in Cape Town, South Africa. Perhaps he should be called back to service…like Churchill in WWII…or Petain.)

The man given the post of heading up the commission on sustainable development is named Francis Nhema, a crony of Robert Mugabe. His personal contribution to sustainable development is that when he was given one of the farms stolen from white farmers, he let it go to rack and ruin.

Bill Bonner
The Daily Reckoning Australia

Bill Bonner

Bill Bonner

Best-selling investment author Bill Bonner is the founder and president of Agora Publishing, one of the world's most successful consumer newsletter companies. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning.
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10 Comments on "Zimbabwe Inflation Running at 100,000%, Life Expectancy Drops to 37"

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Market Socialist Dude
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Instead of bringing back one rascist autocrat to replace another, perhaps Zimbabwe would fair a whole let better with free and fair democratic elections.

I mean there was a reason that ordinary Zimbabweans engaged in a long running struggle to oust Smith’s rascist regime.

Brian Wheatley
Guest

Did the people oust Smith because he was racist or because they were? I mean since Mugabe got elected it has been one long diatribe against White people in Zimbabwe. If they were only trying to gain control of ‘their’ country there was no reason to strip the whites of any elected representatives, nor to strip the farmers of their farms, thus bringing on the famine.

Now that the country is effectively ruined and the country is back in the dark ages economically, the removal of Mugabwe is imperative, along with his ‘Socialist” economics.

Market Socialist Dude
Guest

I don’t think a subject such as this can be consistently analysed without taking into account the long history of colonialism within southern Africa, and the consistent marginalisation of blacks.

Mugabe is just another autocrat who uses such a history to play up an external evil to consolidate his own power.

Some old white man is not going to save Zimbabwe. Only people power will save Zimbabwe.

todd kidd
Guest
Mr. Bonner, you are being used to further British propaganda and her bid to overthrown the legitimate government of Zimbabwe. I don’t want to call you a racist because I don’t know you. I can tell you though that Mugabe is a hero to black people world wide because he did the right thing by taking back the land. The land was a gift from God and it was morally wrong that 1% of the population owned 85% of the land. How would you feel sir, if I invaded your home, raped your wife and imprison your children. This is… Read more »
Rakesh
Guest

The present hyperinflation in Zimbabwe can be given a curative treatment,albeit cant say how much it will be effective.Inputs needed are mass prayers to the God that international relief of food,clothes amd medicines reach Zimbabwe at the earliest and it is distributed in a fair and honest manner

Roger Ndaba
Guest
It is interesting that as I am awaiting a copy of “Mobs, Messiahs and Markets” which in its promotional literature states “You’ll see that a lot of what we see in life is actually founded on lies…fraud…and exaggerations.” and yet we have Bill Bonner peddling the blatant lie that Mugabe is responsible for HIV/AIDS and the severe impact it has on life expectancy in the whole of Sub-Sahara Africa and not just Zimbabwe ? Why he fails to mention this as the cause of reduced life expectancy and not Mugabe is the reason why I take everything I read with… Read more »
Peter
Guest

An absolutely worthless racist article.If Mugabe is the problem then
why is the life expectancy in neighbouring Zambia lower at 33 years ?
Why is most of Africa dying ? Cecil Rhodes wanted to replace Africans with Europeans and thats what it appears will happen thanks to sanctions and the engineered AIDS virus.

Ted
Guest
Sadly it is common belief that the rest of the world will eventually come to the aid of Africa. Wake up – smell the roses / however in this case the dung. It will not happen, the spiralling decent of Africa is totally due to the corrupt governments & old Bob is causing the biggest vortex. I once was a citizen of Africa and had the same misconception of an international lifeline. Now in the safety of a first world country I look at the news: – the failing economies – the breakdown in infrastructures – the poverty – unjust… Read more »
geoff watt
Guest

the real prejudice here is assumption of prejudice from statement of fact. we live in strange times where truth is uncool or offensive. judgement of any person is inherently racist – so what. their is no assumtion of racial superiority in bil bonners article. —- the truth is the highest principle.the truth will set us all free.

concerned
Guest
“Cecil Rhodes wanted to replace Africans with Europeans and thats what it appears will happen thanks to sanctions and the engineered AIDS virus.” People should know by know that the HIV virus has been traced back to the early twentieth century in Africa. The same virus that is killing millions of people across the world (not just in Africa). It’s time to give up the racist lie that the AIDS virus was ‘engineered’ to kill people. No such thing happened. Btw, it is truly a tragedy what is happening in Zimbabwe. However, I can’t help but wonder why the people… Read more »
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