Rabid inflation causes prices to skyrocket.
While here in the U.S., we are battling what economists call "deflation," or the devaluation of the dollar, our friends in Zimbabwe have a different problem. For a number of reasons, their monetary system has undergone massive inflation over the past couple years — to a disastrously high degree.
The picture above was taken at Country Club bar in Zimbabwe on November 24th, 2007. At that time, a single beer would put you back Z$1 million. According to the photographer, Richard Byrom, the bar patron had been to the bank and was supplied with their remaining $500 bills. In case your math is rusty, that comes out to 250,000 notes for one cold, frosty ale.
We still think paying $8 for a Budweiser is highway robbery, but it's nothing compared to this.
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