Who Needs Another Stimulus Check; How 'bout the Hamper Plan?
Zimbabwe's government is to distribute cheap food hampers to help people deal with inflation of 2,200,000%.Now here's the kicker of this BBC article:
Basic products to last a family of six for a month will cost Z$100bn, the current cost of a loaf of bread, the state-run Herald newspaper reports.
It was launched by President Robert Mugabe who was re-elected last month in a controversial one-man race.[...]
Zimbabweans are suffering chronic shortages of meat, maize, fuel and other basic commodities and most shops are empty because of a price-control policy implemented by the government a year ago.
On Wednesday, it was announced that Zimbabwe's annual rate of inflation has surged to 2,200,000%.
The food hampers are intended to reach all households to be distributed at local centres and at a village level by chiefs and headmen, the Herald reports.
A journey of a thousand miles begins with one step," central bank governor Gideon Gono said at the launch of the hamper scheme.Whoa...Central bank governor? They have a central bank in Zimbabwe? Is this "central bank" pretty much just a glorified Kinkos? Minus the apathetic emo employees of course. Because outside of "print more money and larger bills" I don't think the country has much of a monetary policy. Don't get me wrong, Bernake hasn't given us any quotes about our stimulus plan like, "a journey of a thousand miles begins with one step", so I'm not saying that Gideon is completely pointless, I was just surprised to learn that they had something that they called a central bank.
"So this is but one step that we have taken as we implement strategies to improve the lives of our people."
Full story here.

