The penny article was interesting. I knew that pennies cost more to make than they are worth. However, I had never heard that pennies increase the transactions cost at stores, which is the exact opposite of what coinage is supposed to do. Thus, pennies decrease the consumer surplus and should be phased out.
I’ve found more and more businesses rounding up to the nearest nickel. Devon is probably right about phasing out the one-cent coin, although I confess that I will miss the Lincoln Penny.
This is why I enjoy exploring this blog. How can you not click on these headlines. And, as to the oil exportation — Why the holy blazes am I paying $3 a gallon for gas when we have a glut on the market that we’re selling?!?!?!
Supposedly, there are more than 10.6 million illegal immigrants. It depends on how the numbers are calculated, but my guess is that the 15 years/less than 5 percent crowd does not include some of the illegal immigrants who come over very briefly to work on temp projects and then leave so as to bring money home. They could be here for a matter of weeks or months and are hard to count and track.
If we could build more refineries, we could refine more of the oil that we extract here at home and bring even less in from the Middle East.
Unfortunately, due to environmental regulations and the climate-change crowd, new refineries are not being built and it is hurting us in the long-term.
The penny article was interesting. I knew that pennies cost more to make than they are worth. However, I had never heard that pennies increase the transactions cost at stores, which is the exact opposite of what coinage is supposed to do. Thus, pennies decrease the consumer surplus and should be phased out.
I’ve found more and more businesses rounding up to the nearest nickel. Devon is probably right about phasing out the one-cent coin, although I confess that I will miss the Lincoln Penny.
This is why I enjoy exploring this blog. How can you not click on these headlines. And, as to the oil exportation — Why the holy blazes am I paying $3 a gallon for gas when we have a glut on the market that we’re selling?!?!?!
In regards to the Pew post on immigration: I wonder what the main causation is for that large split in numbers.
Supposedly, there are more than 10.6 million illegal immigrants. It depends on how the numbers are calculated, but my guess is that the 15 years/less than 5 percent crowd does not include some of the illegal immigrants who come over very briefly to work on temp projects and then leave so as to bring money home. They could be here for a matter of weeks or months and are hard to count and track.
If we could build more refineries, we could refine more of the oil that we extract here at home and bring even less in from the Middle East.
Unfortunately, due to environmental regulations and the climate-change crowd, new refineries are not being built and it is hurting us in the long-term.
Pennies are an anachronism. It’s time we let them go.
The main reason we still have pennies is due to lobbyists for zinc producers.