Things could be worse

[Cyril]

The official inflation rate in Zimbabwe is more than 230,000,000%. If you divide that to get an average daily rate (if my math is right), something that costs Z$1 today will cost more than Z$6300 tomorrow.

http://www.latimes.com/news/printedit...

[John]

I was thinking to myself, "18 views and only one post? Hell, I'll talk to poor neglected Cyril."

Zimbabwean economics?

Hmmmmm

Well there's.....no.

How about.... nah.

Sorry, I got nothin'

Wel, except to say that you can't just divide 23000000 by 365 to get a daily rate. I think you would have to use an accruall equation or some such nonsense. No doubt involving 'e'. I'm not an economist though. But if we find one it sounds like the real number would still be fookin' scary!

[Jackie "the Librarian", Cool Star Trek Nerd]

Time to start bartering I'd say, over in Zimbabwe.

[John]

Bun: I had the same problem. I was sure I'd have a comment, then I read the post. What the hell does one say to that? ;-)

[Jackie "the Librarian", Cool Star Trek Nerd]

I read that the music industry has spent more on lawsuits than they have won in damages, and so they are planning new strategies for the future.
Mmost of the online music sharing is now legal, through services such as iTunes.

You know what has ME concerned? It's those ads for Sirius radio, where you PAY to listen to the radio. I don't want fancy-schmancy satellite radio. I like radio fine the way it is now, with plenty of goofy local stations, right in MY TOWN.

[John]

I didn't think you had to pay royalties on something you weren't getting paid for...

Isn't that why resteraunts have those lame birtday songs, because 'Happy Birthday" is actually copyrighted?

[Charissa, That's Ms. Obnoxious Twat to You.]

I find it hard to believe that that kind of inflation can exist in the modern world. Last time I heard of anything that extreme was during the Boxer Rebellion.

[John]

Don't bring that up! I still have ptsd from that! (My family was on the "Briefs" side...)

Seriously though, can they be far behind in the piracy game? You devalue a currency enough, people get desperate.

[Charissa, That's Ms. Obnoxious Twat to You.]

LMAO!!!

I'm surprised you survived the uprising of the Boxer fanatics. Their loose fit makes them dangerous!

[John]

Amen, lets all do like the folks in Zimbabwe, where a buck isn't worth protecting. ;-)

Greed is the universal motivator. It seems most of our laws are based on it.

(I hope Natalie Cole doesn't read what I did to her dad's song in the other thread...)

[Cyril]

Great. Sympathy posts. I'll take it.

[trivialchemy]

The compounding frequency economists use in consideration of inflation is totally opaque to me; but you an be sure that inflationary pressure compounds, meaning that just dividing the inflation rate by 365 is a very poor approximation.

You only use the exponential function (Johnny's 'e') if the inflationary rate is considered continuously compounding (which is probable), but really it doesn't matter. These numbers are so big that as long as you account for compounding, you get the right order of magnitude.

The maths yield an answer not nearly so frightening at first glance as Cyril's estimate. Z$1 today, at 230,000,000% inflation, is worth Z$0.96 tomorrow.* Doesn't sound so bad, does it? Not until you calculate what your dollar is worth at the end of the year due to the effects of compounding hyperinflation ... Z$0.00000043.




* Assuming a continuously compounding rate V1=V0*e^(14.65*(1/365))
where 14.65 is the effective annual rate
14.65=ln(2300000+1)

[trivialchemy]

By the way, what the hell could a government possibly do about such a situation? Wage and price controls couldn't possibly function in a place like Zimbabwe. You'd need to trust the government's influence on the market, which is something that Mugabe doesn't exactly foster.

[Rusty]

Sorry to inform you, Isaiah, but that post, which would have been free yesterday, will cost you $32,091 today. We don't take installments.

[trivialchemy]

ATTN SIR/M RUSTY,

Of course I will be happy to provide the funds you asking for.My name is MR BEN CHRISTOPHER kuruneri son fo the honorable Mr Christopher kuruneri who was th ehonoroable minsister of finance for MR ROBERT mugabe.

Please send NAME ADDRESS OF current residence
PHONE NUMBER and please photocopy of Driver's License of residence, and we will forward to you a check of ministry for US$300,000. Surely you must understand my unique situation. When you receive the check, please cash and subtract the sum which is owed you (US$32,091). For your assistance in the transaction you will also be entitled to 15% of the total sum involved, a further 5% of the total money will be set aside to cater for the expenses that might be encountered in the course of the transaction, while the remaining 80% will be for my families investment purposes.Please then, could you be of any assistance in lieu of this transaction, i kindly request that you contact me as soon as possible through the website of bookface.

REGARDS BEN CHRISTOPHER kuruneri.

[Félix]

I'll send you my bank account number by PM. Stand by!

[Rusty]

Really? That’s all I have to do? You are surely a prince among men.

[Jackie "the Librarian", Cool Star Trek Nerd]

Bunny, I almost made that joke a few times, and held back.
But in my case, rain would be welcome right now. It could be worse, it could be SNOWING some more!

[Cyril]

65 degrees right now where I live. Heh.

[Charissa, That's Ms. Obnoxious Twat to You.]

it's 45 degrees here. and raining.

[Ruth]

55 and gloomy. Rain on the way.

[Chloe]

65 and sunny! Could you ask for better holiday weather?

[Jackie "the Librarian", Cool Star Trek Nerd]

Almost 35 here, and it's raining, no it's snowing, oh, wait it's raining again. Wow look at those flakes!
I WANT it to rain, and the snow to melt. Yes, yes, lovely snow, I enjoyed seeing it very much. It can GO AWAY now!

[Charissa, That's Ms. Obnoxious Twat to You.]

:::;sends warming thoughts all the way to the PNW for all her friends who aren't used to being snowed in!!::::

[John]

Hmmm, Last time I talked to Nick it was negative 35 degrees at his place. I suddenly don't feel so bad about Missouri winters. Hell, folks from his neck of the woods probably ride their 'cycles in what we have now....

[trivialchemy]

HEY GUYS, IT COULD BE WORSE...

You could be trapped in LAX having missed your 7:05 to Austin and been forced by the evil ticket-dispensing trollops at American Airlines to take standby on a midnight flight to DALLAS (not original destination), rather than coming back in the morning for the direct at 6 am. But please note, if I don't make standby on the Dallas flight I'll be forced to take standby on the 6 am flight, meaning there is a very good chance that I'm going to be in LAX for the next 11 hours.

Merry frickin Christmas. I'm going to go get shitfaced in the bar at the international terminal.

[Cyril]

Isaiah, I hear you, brother. Traveling on Christmas is never fun, and being stuck in LA is hell. I hope you get to your destination soon.

[trivialchemy]

Thanks, Cyril.

And may I remind all my fellow Goodreaders, that if you have the option, DO NOT, under any circumstances, fly American Airlines. Not only are they infamous for flight delays, mechanical problems, and cancellations, not only does their inability to check-in and board efficiently exceed all measure of human incompetence, but it seems that their employees are individually instructed in behaving like disgruntled bitchtards. Whether in air or in the ground, I've never been treated worse than by American Airlines employees.

[Jackie "the Librarian", Cool Star Trek Nerd]

That sucks, Isaiah! Flying anywhere during the holidays usually means grumpy airline employees and unwanted flight changes to a Texas city you didn't want to go to.
At least, in my experience.

[Charissa, That's Ms. Obnoxious Twat to You.]

Sorry Isaiah!! The American Airlines terminal is no place to spend Xmas eve! I hope the booze is yummy, and that the AA employees find coal in their stockings.

XOXOXOXO