Thursday, December 07, 2006

Iraqi Stagflation

While this may be a small problem compared to the much bigger problem of both Sunni and Shiite jihadist thugs slaughtering the other side's civilians by an average of over 100 per day, Jeffrey Tucker points out that Iraq's monetary policy is disastrous too. As a result, price inflation is 50% while estimates of unemployment range from 20% to 60%.

Still, that is not fully as bad as in Zimbabwe, where, as I told you last year, inflation was 500% ( it has since risen to over 1,200%) and unemployment 60% to 75%.


Blogger Flavian said...

Strange that Zimbabwe is doing so poorly. According to some "experts" Sweden's biggest economic problem is a too low inflation rate. Logically that ought to mean Zimbabwe should be the most prosperous country on this planet.

12:08 PM  

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