Mugabe's 'wealth fund' is about to seize control of mining in Zimbabwe. The effect will be, - according to the Wall Street Journal, - to halt new investment, cause disinvesmtent , and horrendous job losses. Where have I heard that before?
While that may be subjective, this is not; I was in Zimbabwe in 1999. I still have a credit card docket that shows I bought items in Victoria Falls costing Z-11,000, for $A425. That is, my Australian dollar bought Z-25.88.
Today the official figure is that one Australian dollar will buy 12,482,418,441 Zim dollars. That's $ZIM 12 billion.
While we can say 'yes, but..' till the cows come home, it is an exagerrated example of what happens when Governments get too greedy and intefere too much in commerce. There is a fine line, and once stepped over, everything goes backwards.
The economy is delicate, and easy to rape, pillage, and be left lying in the gutter, by rampant power-obsessed politicians.
