Thursday, January 08, 2009

Zimbabwe's Casino Economy

Reading in the Times today, which suggested the British chancellor may start to print money, I must admit it sent a small shudder through me. Some economists actually think it is a good idea.

Talking about economists, a Zimbabwean one (Yes, amazingly they have them), by the name of John Robertson has had the dubious privilege of reading and commenting on a book called Zimbabwe's Casino Economy, written by the worlds most ludicrous money man, our good old friend Dr. Gideon Gono. That is the man whose new house is even bigger than Mugabe’s.

As we are all presently affected by the economic down turn, this critique of Gono’s book makes for cheerful reading (not). What is obvious is that the ZANU (PF) hierarchy and the Reserve Bank of Zimbabwe are so intertwined that a regime change and analytical look at the banks’ books would place most of them in jail. That is why they will not give in. In theory they can stay in power for as long as they like. A failed state status is perfect for them. After all, Somalia seems to be doing alright. How many pictures of starving pirates are on the web?

Well worth the read -

Hang on a sec. Starving Somalian pirates may be a bit nearer the truth. Failed states = big money for some people. Like a great place to dump toxic and radioactive waste. Also, since Somalia doesn’t have a Navy, it is easy to take all their fish. This article in the Independent is a must read.

Better yet are the comments. At least I now know where those Iceland (the supermarket) £5 dodgy lobsters that glow in the dark come from.

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