Power of Governments....

This is from a letter that The Daily Reckoning published on Friday. It is amazing how much wealth the government of Zimbabwe has destroyed in just four years. Watch Argentina and Venezuela for a possible similar type of result. Anarchy with private property anyone?

"I came across this recently and thought it a sufficiently interesting illustration of inflation and a collapsing economy that I should share it with you...

"At one time, agricultural output accounted for about 45% of the Zimbabwean economy, and tobacco was by far the single biggest export. The Zimbabwean government deserves credit for the entirely successful implementation of a policy: redistribution of land to poor peasant farmers.

"It's just a pity they got it backward; instead of sharing the wealth at the top with the poor masses at the bottom, they shared the poverty of the masses throughout the system!

"Zimbabwe tobacco production 2000: 237 million kilograms Zimbabwe tobacco production 2004: 64 million kilograms One packet of 20 cigarettes in 2000: $22 One packet of 20 cigarettes in 2004: $4,500

"Zimbabwe wheat production 2001: 314,000 tons Zimbabwe wheat production 2003: 50,000 tons One loaf of bread in 2000: $21 One loaf of bread in 2004: $3,500

"Zimbabwe milk production 2001: 160,000 tons Zimbabwe milk production 2003: 100,000 tons One liter of milk in 2000: $15 One liter of milk in 2004: $2,600

"One dozen eggs in 2000: $36 One dozen eggs in 2004: $7,500

"One bag of sugar in 2000: $40 One bag of sugar in 2004: $5,303

Harare Agricultural Show total livestock exhibits 2004: nine cattle, two goats, three sheep.

Zimbabwe tourism earnings 1999: $200 million Zimbabwe tourism earnings 2003: $44 million."

I end this week with numbers using a quote from the Zimbabwe Independent: "Baton-wielding riot policed on Wednesday broke up pro-democracy demonstrations in the capital, arresting at least 44 activists."