Well, Two Pictures are Worth Two Thousand Heavily Loaded Words...
WAShington Mutual, as many of you probably know, has been bought out by JP Morgan Chase. The mortgage crisis has taken yet another big, once well established bank. I find irony in this picture. It’s incredible to see big banks and big investment banks fail. It just goes to show, nobody is safe in this subprime mess. The government has decided to pump money into the remaining financial banks/ibanks. What good would this do? Let’s bail them out, so they can continue to spend money where they shouldn’t and act like nothing happened.
Though I don’t believe our economy will get as bad as Zimbabwe’s, I sure hope it doesn’t, this is a receipt from a purchase in Zimbabwe. It looks like a huge transaction, but the person was only buying dinner and water. That set the person back a billion $Z. Inflation in that country is off the charts.
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