Visual Perspective of One Trillion Dollars

[twyacht]

Due to difficulties in transporting wheelbarrows full of cash for bottled water and rice, Zimbabwe has "re-issued" brand new currency eliminating the zeroes needed to buy a pack of gum,....

http://en.wikipedia.org/wiki/Zimbabwean_dollar

Fourth dollar

On February 2, 2009, the RBZ announced that a further 12 zeros were to be taken off the currency, with 1,000,000,000,000 (third) Zimbabwe dollars being exchanged for 1 new (fourth) dollar.[21] New banknotes are to be introduced with a face value of Z$1, Z$5, Z$10, Z$20, Z$50, Z$100 and Z$500. [22] The banknotes of the fourth dollar are to circulate alongside the third dollar, which will remain legal tender until 30 June 2009.[23]The new currency code was ZWL.[4]

The Zimbabwean dollar is now largely irrelevant with the economy being almost completely dollarised[24]. Even the national postal service, Zimpost is said to be charging customers postage in US Dollars, even though some of the stamps are in Zimbabwean Dollar denomination.

Zimbabwe finance minister, Tendai Biti, said in his first budget report, "The death of the Zimbabwe dollar is a reality we have to live with. Since October 2008 our national currency has become moribund."[25]

Keep printing it, (just like the U.S.) and attempt to spend your way out of a recession, and inflation, or even hyperinflation, is inevitable....

$150.00 for a box of .38's? Won't much matter, as the paper isn't worth the paper it's printed on.

Went off the gold standard, (big mistake), and now there is global rumblings to consider dropping the dollar as a "standard" indicator of valued items, or worse yet,,,, a global currency,...

Hasn't been 100 days yet,....

~runs in and grabs another double stack~

~heads out through the backdoor~

 

 

[PegLeg45]

Yep...soon folks will be robbin' armored trucks for the fuel instead of the bills.   

[philw]

**UPDATE**


Obama budget projected at $9.3 trillion in next 10 years

From the International Herald Tribune:

“President Barack Obama’s budget proposals, if carried out, would produce a staggering $9.3 trillion in total deficits over the next decade, much more than the White House has predicted, the Congressional Budget Office said on Friday.

The office’s estimates of deficits in the fiscal years 2010 through 2019 “exceed those anticipated by the administration by $2.3 trillion.”

The deficits under the Obama plan would be $4.9 trillion more than the projected deficits if there were no changes in current laws and policies — what the nonpartisan budget office calls its baseline assumption.”

Here’s the graphic image of the projected Obama budget plan in trillions, note the small figure at the bottom left, he’s the average tax payer.

[deamonpi]

The last I looked, which was a few month's ago, Zimbabwe had 4,000% inflation.  And by the way Zimbabwe's HYPERinflation has been in the 21st century so Germany still wins in the 20th century.