Posted by
Missouri Capitalist on Tuesday, July 28, 2009 10:50:06 PM
In my everyday job, I get a lot of chances to work at bank branches. One thing that was pointed out to me was the increase in people turning in change. You know, the big jars of pennies that people have been saving for their whole lifetime. Apparently people have been turning change in at a greatly increased rate. I guess that means that people are hard up for money these days. I can't for the life of me imagine why. But that is not my focus of this post.
In the past I remember reading about the fact that the US mint issues pennies more often than they should because people hoard pennies. Some went on to lament the cost of making pennies. Check this
Snopes article for info on that.
I think Obama is a genius! He has figured out how to get people to stop hoarding pennies. He figured that if he increased the perceived value of a penny that people would start caring about them again and put them back into circulation. So by destroying the economy, he could save the government the $74 million that it cost to make the pennies. Then he can leverage the savings 100,000 times to pay for the stimulus package. If only he had told us! I am sure that everyone can agree to come together for his "Change" that we can believe in.