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June 2009

Economic Characteristics of Third World Economies

How the U.S. Stacks Up Four economic characteristics of third world economies are discussed in conjunction with what is occurring today in America.  These characteristics are: Debt, Nationalization of Vital Industries; Taxation; and Inflation. Debt Third world government can’t seem to raise enough revenue, so they borrow money, at least at first.  When they run out of borrowing capacity they print money.  Today, Zimbabwe’s estimated rate of inflation is 231 …Read More