Mugabe Looks to Finish Off Zimbabwe Economy

Communist thug Robert Mugabe continues to follow the Marxist playbook for destroying the Zimbabwe economy, and the BBC cheers him on.

Zimbabwe's President Robert Mugabe has approved legislation giving local owners the right to take a majority share of foreign companies."

The "right"? Notice how the socialists running the BBC spin that little item, like it's nothing more than the "right" to walk down the street.

Actually, their legislation makes it a mandate.

Under the legislation, every company must have at least 51% of their shares owned by black Zimbabweans.

If not, the government will block new investment, mergers or restructuring.

The new law means some of the country's biggest businesses - such as the mining giant, Rio Tinto, and Barclays Bank - will have to find local partners.

No they don't. These companies can shut down their operations in Zimbabwe, lay off any local workers and tell the government to shove it.

In any event, you can forget about any foreign capital coming into the country, which is the exact opposite of what you need in their economic condition.

How bad is it there?

And rather than helping the economy, independent economists suggest the new law is likely to cripple foreign investment badly need to help stem the country's inflation, which is now officially running at more than 100,000%.

Somewhere, Uncle Joe Stalin is smiling.