That better be a pretty good hamburger, that’s all I’m saying!

Zimbabwe bank issues $10million bill - but it won’t even buy you a hamburger in Harare

The central bank of the southern African country of Zimbabwe has a issued a 10 million dollar note. The move increases the denomination of the nation’s highest bank note more than tenfold.

Even so, a hamburger in an ordinary cafe in Zimbabwe costs 15 million Zimbabwe dollars.

Reserve Bank Governor Gideon Gono said in a statement the 10 million Zimbabwe dollars notes will be issued along with 1 million and 5 million Zimbabwe dollars bills.

The new 10 million note is the equivalent of about £2 at the dominant black market exchange rate. A hamburger at an ordinary cafe costs about 15 million Zimbabwe dollars (£3).

Zimbabwe faces the world’s highest official inflation of an estimated 25,000 per cent. Independent financial institutions say real inflation is closer to 150,000 per cent.

I don’t think you have enough for that bread.

Does anybody still pay attention to these jokers?

Kudlow has for weeks been saying “There is no Recession”, calling for the FED to cut rates, and now that inflation is taking hold he’s worried about “King Dollar.” Idiot. Last week he was talking about Hillary and how it was over. On last night’s show he started changing his tune… hmm, perhaps it’s not over? Yeah, perhaps.

And Cramer. Heh. Woe to those to followed his advice.

As someone pointed out:

If you bought 100 shares of GOOG at $685/share on 1/2/08 when Cramer named it a “Cramer’s 2008 Pick” ….

….and sold it on 2/5/08 at $494. when Cramer said GOOG was “dead money”…..

….and bought it back on 2/13/08 for $534.62 when Cramer said he was “bullish” on GOOG….

….and sold it again on 2/26/08 for $464.19 when Cramer said GOOG’s quarter wasn’t “any good”……

…….YOU WOULD HAVE LOST $26,143.00 YTD ON GOOG ALONE

And now Cramer likes gold. Way to go, Jim. Jinx my GLD investment, why don’t you?

There’s a reason why these two guys used to have a show together. I guess they figured that if they split up, they could do more damage.

A few news articles:

Many rich 80s Yuppies ’struggling’

According to a report by the Liverpool Victoria friendly society, 45% of former 1980s Yuppies claim they are struggling financially or failing to live within their means, At the same time, seven out of 10 former Yuppies, now aged between 45 and 55, say they should have saved more money earlier in their career and 32% worry about how they would cope if their regular income stopped.

The number of people splashing out on expensive dining has halved, from 20% of Yuppies in the 1980s to just 9% now, while only 13% still buy the latest gadgets, compared with 18% 20 years ago. Instead the number of former Yuppies donating money to charity has doubled to 21%, up from 9% in the 1980s, while they are also five times more likely to be concerned about the environment and eating organically. More than half of former Yuppies say saving for retirement is now one of their top financial concerns, followed by paying off the mortgage, at 40%, and repaying debts at 34%.

Nigel Snell, communications director at Liverpool Victoria, said: “Our research on Yuppies has found that yesterday’s privileged minority appears to have become part of today’s anxious majority. YouGov questioned 2,409 people during September.

Yes, it’s getting tough out there.

BBC News: New yuppies shun champagne lifestyle

The term yuppie conjures up images of the brash 1980s, when bright young things lived a loadsamoney lifestyle of flash cars, lavish lunches and power dressing. It was an era of playing hard and working hard. These days, young professionals are different. New research suggests they are more cautious about money than yesterday’s yuppies, who are struggling to maintain their once high-flying lifestyles.

Research from Liverpool Victoria Friendly Society, a financial services company, suggests that pensions, getting on the property ladder and paying off debts are bigger priorities for today’s young professionals than living a champagne lifestyle. Four in 10 young urban professionals in 2007 cite paying off debts as a financial concern, compared with a third in the 1980s, according to the research based on a survey of 2,409 adults.

Almost a third say that saving for retirement is one of their top three biggest financial worries, compared with just 12% of original yuppies. With conspicuous consumption falling out of favour, today’s young yuppies spend their hard-earned cash on organic food and green fashion. But young go getters do enjoy the original yuppie love of gadgets, with 24% spending their money on technological wizardry compared with 18% in the late 1980s.