Belarus Ruble chart: this is what happens to every country that resolutely continues to live outside its means
zero hedge: Welcome To Hyperinflation Hell:
"Unless Belarus heeds Russia’s call for mass privatization of state assets, it is headed for “hyperinflation, massive un- and under-employment, and a shutdown of production" [Alexei Moiseev, chief economist at VTB Capital] concludes. Ah: "privatization" as Greece is about to learn, the lovely word that describes a fire sale of assets to one's creditors, courtesy of a "globalized" new world order. Ironically, this is precisely the warning that will be lobbed at each country in the developed world...
It looks like Belarus is the canary in the economic coal mine. Whether it's lifeless body will provide any guidance for the other two nations at the precipice (Greece and Ireland) remains to be seen. Perhaps it will be an object lesson for the U.S. about the importance of fiscal responsibility.