Wednesday, May 07, 2008

A Penny Made is a Penny in Debt

Pitiful but true: it's now costing more to produce a US penny than its face purchasing power. Same for the nickel. Are these humble coins worth keeping around? Should we shift to a cheaper American alloy or phase them out entirely? A penny for your thoughts . . . 'cause them's my two cents.

Book to check out: Fareed Zakaria, The Post-American World (2008), aka "The Rise of the Rest." Brand new, though it may cost quite a pretty penny.

In another Weegee shot for the ages, a modern woman (1939) examines a copy of Apes, Men & Morons by Earnest Hooton (1938). Drop the Nazi-like racism, keep the title for fictional dialogue and above all, spare your brother a dime. . . . .

Option B for the Great Recession of 2008, from A Charlie Brown Christmas (December 9, 1965):

Sally Brown: Please note the size and color of each item and send as many as possible. If it seems too complicated, make it easy on yourself -- just send money. How about tens and twenties?

Charlie Brown: Tens and twenties? Oh! Even my baby sister!

Sally Brown: All I want is what I have coming to me! All I want is my fair share!

Today's Rune: Warrior.


lulu said...

I just read a bit of this in the Asian edition of Newsweek. It's interesting, living where I do and working this community, how little people really care about the US. We're kind of irrelevant.

the walking man said...

If you chuck them then everything [rice wise round up to the nearest dim or two dimes if you account for taxes.

Keeping them for making change is good, saving them until they amount to a dollar is better.



Pythia3 said...

Hi Erik. I have been . . .? around, I guess one could say. Thoughts astounding. Creativity abounding. Life has been "different." I can't seem to recognize most of my life these days.
That all being said . . . I love this post! I heard about the penny situation, but not the nickel dilemma.
It is a bit frightening to rid our currency of the small coins. What does this really say about the state of our economy?
'A penny saved is a penny earned.' No pennies - no savings? No earnings? ? ?
Although, I do hate those price endings of .99 cents - annoying.
I have an old jar of pennies earned, found, saved. I can't disrespect that copper cent so I am in all terms of the word, "a penny saver." I save the poor little thing from the washer, the sidewalk, the bottom of boxes and my purse . . . etc! LOL
Hope you are well and enjoying this flirtatious spring.
Lindy ;)

Charles Gramlich said...

I'd phase out the penny and make the nickle from something cheaper.

Sidney said...

I saw Fareed Zakaria on the Daily Show and thought the discussion about his book was interesting. The transition to a global outlook certainly seems to confirm the "interesting times" notion. We are in a time of tough transition with many growing pains.