Saturday, May 17, 2008

Inflation in Zimbabwe

Last year inflation was declared illegal in Zimbabwe after reaching 1000% per year. Today we have a spectacular example of the velocity of the increase :

"During the meal, one of my mates was drinking beer — 750ml bottles of Castle Lager (fondly called bombers). He ordered a fifth one, was advised that the price, which when he ordered his first, second, third and fourth ones was 160 million per bottle, had gone up to 340 million per bottle.

That's right — during lunch there was a price increase…"(via)

Thursday, May 15, 2008

McCain and US Foreign Policy

An extensive an interesting article in the New York Times on The McCain Doctrines, an analysis of the future Republican candidate's views on America's military role on the international scene. His support for the war in Iraq is and will continue to be a difficult thing to defend for John McCain throughout the entire campaign, but nevertheless he says that he learned the lesson :

“I think we’ve learned some lessons,” McCain told me. “One is that the American people have to be willing to support it. But two, we need to work more in an international way to try to beneficially affect the situation. And you have to convince America and the world that every single avenue has been exhausted before we go in militarily. And we better think not a day later or a week later, but a year and 5 years and 10 years later. Because the attention span, unfortunately, of the American people, although pretty remarkable in some ways, is not inexhaustible.”
I'm eager to read a similar material about the future Democrat candidate.