Mugabe Extends Race-Based Looting Spree to Foreign Companies
Sometimes it’s tempting to skip ahead in a book to see how things will turn out. This can be done with Obamunism, because the same political phenomenon is farther along in other countries. For example, by turning to Zimbabwe, we can see what happens after the government has bled dry or seized every business within its borders — it goes after foreign companies:
Zimbabwe President Robert Mugabe is standing firm with plans to take over foreign-owned companies who refuse to transfer majority shareholding to local black Zimbabweans.
The president said foreign mining companies had until May 9 to submit plans for a share transfer. Under the Indigenization and Economic Empowerment Act which became law in March 2010, foreign-owned firms must achieve at least 51% black ownership within five years.
Seizing farms for the sake of black ownership put an abrupt end to agriculture in Zimbabwe. Mining is the next industry to be terminated in the name of moonbattery.
When it was called Rhodesia, Zimbabwe was known as the Breadbasket of Africa. But then the grownups turned over power to leftists. Now the currency is worthless and the population is starving.
Likewise, people will soon say with sad shakes of the head that America was once known as the Land of Liberty.
On a tip from AC. Cross-posted at Moonbattery.