Mar 26, 2009

A Corner Turned?

Perhaps things are looking up in Zimbabwe. They have recently ditched their dollar (look here to see what they are doing with the old dollars) and are now using foreign currencies as legal tender. The price level actually dropped a tad last month in that country. A bit of good news for a nation that was recently experiencing an inflation rate of roughly 231 million percent.

I was having a conversation with an elementary school teacher today and she told me that one of her students asked her the "Why can't we just print more money?" question that all of us get from time to time. These photos offer a good explanation I think.