Elon Musk
@elonmusk
RT
@Rothmus: Zimbabwe destroyed itself the day it destroyed the people who produce. Confiscating 4,500 productive commercial farms from the people who actually knew how to run them and handing them to political allies with zero farming experience is precisely how you turn Africa’s breadbasket into a country that can’t feed itself and ends up printing 100 trillion dollar notes that won’t even cover a bus fare. Mugabe did exactly that in 2000. >commercial farmland lost 3/4 of its value in a single year >food production dropped 60% over the next decade >nearly 700 companies that depended on farm exports and food processing shut down within 2 years >the economy shrank more than 6% a year and average incomes fell by more than half “Just give poor people money, bro!” And so they did with the tax base gone! >printed money to fill the hole >prices were doubling every 24 hours by late 2008 >official inflation numbers stopped being published and an indepe
@Rothmus: Zimbabwe destroyed itself the day it destroyed the people who produce. Confiscating 4,500 productive commercial farms from the people who actually knew how to run them and handing them to political allies with zero farming experience is precisely how you turn Africa’s breadbasket into a country that can’t feed itself and ends up printing 100 trillion dollar notes that won’t even cover a bus fare. Mugabe did exactly that in 2000. >commercial farmland lost 3/4 of its value in a single year >food production dropped 60% over the next decade >nearly 700 companies that depended on farm exports and food processing shut down within 2 years >the economy shrank more than 6% a year and average incomes fell by more than half “Just give poor people money, bro!” And so they did with the tax base gone! >printed money to fill the hole >prices were doubling every 24 hours by late 2008 >official inflation numbers stopped being published and an indepe
@Rothmus
Zimbabwe destroyed itself the day it destroyed the people who produce.
Confiscating 4,500 productive commercial farms from the people who actually knew how to run them and handing them to political allies with zero farming experience is precisely how you turn Africa’s breadbasket into a country that can’t feed itself and ends up printing 100 trillion dollar notes that won’t even cover a bus fare.
Mugabe did exactly that in 2000. >commercial farmland lost 3/4 of its value in a single year
>food production dropped 60% over the next decade
>nearly 700 companies that depended on farm exports and food processing shut down within 2 years
>the economy shrank more than 6% a year and average incomes fell by more than half
“Just give poor people money, bro!”
And so they did with the tax base gone!
>printed money to fill the hole
>prices were doubling every 24 hours by late 2008
>official inflation numbers stopped being published and an independent economist calculated monthly inflation at 79.6 billion %.
Communism is grand.