Monday, December 15, 2008

FW: Daily inspiration.... "The power of poor leadership"

From an e-mail sent around the office this morning:

Today's daily inspiration is larger than usual but I felt it was an interesting look at how leadership can add value to or devalue the worth of their currency and thus the lives of the people.
We think that the current economic crisis is having a large impact on us all but the poor citizens of Zimbabwe have been coping with their own one since the collapse of the agriculture sector in 2000 when the inflation skyrocketed to 231 million percent a year! Just think about it – 231, 000, 000%. Unemployment went up to 80% and a third of country's population departed it.

Lets now have a look at the photos that you probably won't see anywhere else in the world.

Here is a boy getting change in 200 000 dollar notes!

One 200 000 dollar note equals less than 10 cents.

A new note of 500 000 dollars introduced to the market!

Next - 750 000 dollars.

Another new note of 10 million dollars.

This US $10 dollar note is worth 10 times more than the 10 million dollar Zimbabwe note.

Happy but hungry

A case worth 65 billion Zimbabwe dollars to pay for a meal.

This guy is going to a supermarket. The exchange rate was then 25 million Zimbabwe dollars for 1 US dollar.

This mountain of cash is worth $100.

50 Million note is then introduced!

Next is 250 million dollars note!

Sorry, how much is this t-shirt?
- It`s cheap, only about 2.76 billion dollars! Note the price is in 'millions' or 'billions'

Gee….hope it survives the wash.

May - a note of 500 million dollars is introduced!

June - note worth 25 and 50 billion are printed.

And finally - 100 billion dollars note!

What can you buy for it? Well, these 3 eggs for example.

This is how people go to restaurants!

And the bills:

In August, the government devalued Zimbabwe dollar by removing 10 zeros from notes.

However, inflation kept going up and in September for this amount of cash you could only buy 4 tomatoes.

And for this - some bread.

And then it started again: 20 000 dollars note in September. Remember, this is after removing 10 zeros!

50 000 a couple of weeks ago!

When will it end?
And equally importantly, How will it end?


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