Up on Global Voices
Please check out the redesigned Global Voices site. It is also where I have put up my latest post:
As the poor get poorer, the rich are only going to get richer in Zimbabwe. In this post, Mugabe Makaipa describes how Zimbabwe’s stock market has grown 12,000% over last year as it has become chief among the few safe places that people can hedge against inflation. With inflation skyrocketing, unemployment reaching 80%, the local bourse has simultaneously become a boon to the capitalist intentions of the few that are willing to make the risky investment in Zimbabwean stock too. Sadly, the economically elite are the only beneficiaries of the reeling economy that is in Zimbabwe.
Zimbabwe, Global Voices,
As the poor get poorer, the rich are only going to get richer in Zimbabwe. In this post, Mugabe Makaipa describes how Zimbabwe’s stock market has grown 12,000% over last year as it has become chief among the few safe places that people can hedge against inflation. With inflation skyrocketing, unemployment reaching 80%, the local bourse has simultaneously become a boon to the capitalist intentions of the few that are willing to make the risky investment in Zimbabwean stock too. Sadly, the economically elite are the only beneficiaries of the reeling economy that is in Zimbabwe.
In Zimbabwe, they are very few and far between.(more...)
Therefore, all of the rich people, government officials, and banks are putting their money into stocks so that it doesn’t lose value. Demand is high, so the price is too.
The everyday people of Zimbabwe don’t see any benefit to this, though. Their masters may not see it for much longer either. Stock prices on the index are obviously inflated and unsustainable. It’s only a matter of time before it comes crashing down, taking down many in its spiral.
Zimbabwe, Global Voices,
