Connecting the Zimbabwe Dots

Zimbabwe's economy is imploding and the socialists running the BBC are finally allowing as how there might be some minor difficulties encountered in repairing the damage done by the communist leadership there. But they still don't quit connect the dots.
The BBC starts out bemoaning the election confusion, then gets to the point:

Meanwhile Africa's worst basket-case economy continues to flounder, without a leader to take stock of what needs to be done.

In terms of statistics, Zimbabwe's plight is pretty much immeasurable.

Figures such as a rate of inflation of more than 100,000% and an unemployment rate said to be in excess of 80% are startling, but also largely meaningless.

Meaningless?

To socialists maybe, but to those who understand economics, they are very important statistics. Then the article continues:

After 28 years under Robert Mugabe, emotive terminology such as utter despair and desperate destitution describe the situation in Zimbabwe better than any maths and statistics can ever do.

This is certainly the case for the 700,000 people who have been robbed of everything, even their homes in urban slums that were razed by Mr Mugabe who had deemed them an embarrassment.

The cause, as well as the solution to all this is actually quite simple. The foundation of any prospering, growing economy is the fundamental right to hold, own and protect private property. The takeover and confiscation by the communist Mugabe to enrich his political friends destroyed any incentive by the productive people in his country to take a risk and produce anything.

Imagine for a minute that I impose a 100% income tax on you today (I can just feel Hillary and Obama supporters drooling at the very thought). I instead confiscate all your assets, income and production and dole it out to my buddies as I see fit. What possible motivation would you have to get up the next day and go to work? Of course, there is no such motivation. In fact, you have every motivation to either leave the country or just sit back and hold your hand out for your share of the largesse like everyone else. Since everybody does this, nobody is producing, and then the government has to just print money to pay for all the handouts. Foreign capital leaves the country to avoid being confiscated. And presto-chango! You have destroyed your economy.

The solution is to reinstitute the right to own private property. Then you can have a free market system and capitalism, with the resulting growth and prosperity.

Even with all this damage to the Zimbabwe economy, the editors at the BBC just can't quite let go of their love for communism/socialism. Get a load of this knee slapper buried in the end of the article:

Yet the underlying fundamentals of Zimbabwe's economy, resource base and even parts of the corporate sector remain reasonably robust.

Excuse me!? Zimbabwe's economy is the extract of a heroin addict's nightmare, including 100,000% inflation, 80% unemployment (and they can't even blame Bush for it), life expectancy of 37 years, and the BBC editors think the underlying fundamentals of their economy is robust. But yet they think the U.S. economy is crumbling.

The BBC, documenting their worship of socialism and communism every day.