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Thursday, March 12, 2009

United States poised for Zimbabwe-style economic collapse, sez governor

If the United States keeps "spending a bunch of money we don't have", it faces a collapse of its economy much like what has happened in Zimbabwe, South Carolina Governor Mark Sanford predicts.

In case you haven't heard, the financial hyper-inflation which has rocked Zimbabwe has led that country to issue a one trillion dollar bill as part of its currency. For one of those legal tender notes, you can currently buy a hamburger or two.

Sanford gets what's really going on. Too bad there doesn't seem to be many other elected officials who are likewise calling for fiscal sobriety right now.