Word: dollarization
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...second biggest economy, second only to South Africa. The infrastructure, the roads were well done, the railways and telephones were good, the health sector was good. The schools were the best in Africa - we had a 86-90% literacy rate. We had a sophisticated economy. And the Zimbabwean dollar was strong. In 1980, one Zim dollar was one pound sterling - or two American dollars...
...invade the farms and crush the farmers. But one the results was economic collapse. Inflation is 4,000%, according to business people I talk to. Prices double in two days. People are leaving the country. You can't survive here. The government pretends the exchange rate is 250 Zim dollars to the [ U.S.] dollar; in reality it's 25,000. It's disastrous. And as people leave, Mugabe's people, who have a lock on foreign currency in Zimbabwe, are buying up every business in Bulawayo. Everything is geared towards the advancement of Mugabe and his party elite...
...World's End ready to pick the public's pockets. And this weekend: Spider-Man 3, which on its own is guaranteed to top last weekend's cume. Anything under a $100 million launch would be disappointing for a threequel with a budget in at least the quarter-billion-dollar range. These days directors of special-effects epics can spend money faster than Tony Soprano at the roulette table...
...industry, the toughest battles are fought not behind the perfume counter but on grocery-store shelves. When whipping up a product meant to hook billions of taste buds and olfactory receptors, the biggest consumer-product corporations in the world don't gamble on hunches. That's where the million-dollar noses come...
...Also being added are "small dollar" events, like a recent $100-a-head "Party on the Pier" at New York City's Pier 94, which are useful for collecting not only money but also e-mail addresses with which she might blunt the advantage that Obama has on the Internet. Having raised her money largely on the coasts until now, Clinton is going inland. Invitations just went out for a May 7 fund-raiser in Chicago, which is her hometown - and Obama's political turf...