Earlier this week, I noted that Zimbabwe had begun accelerating towards collapse
with the imposition of price controls, backed up by enforcement squads that
provided little more than government-assisted looting. I wrote at the time that
when state-created shortages threaten the economy, dictators attempt to stamp
out the symptoms through even heavier state action rather than cure the original
disease. Now Zimbabwe has almost no domestic capital left, thanks to Mugabe's
ruinous economic diktats.
I don't know what this means as far as the bigger picture, how this will effect the rest of Africa or how it will effect America. The country appears to be on the brink of total collapse, no doubt it will mean an exodus of people to its neighbors.
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