Value of a penny jar in 2008
"Find a penny, pick it up, then all day you'll have good luck". I pick up pennies. I know some people wouldn't pick a penny off the ground but I do. I usually put them in my wallet and then throw them into jar. Later I'll take them to the bank and deposit them at the bank.
When I was a little kid, I remember my Dad had a penny jar. It was a giant 2 gallon sized glass jar, and he threw all his spare change into the jar. It seemed like it had a thousand pennies and other coins in it.
Sometimes, if I wanted to buy something, I could get some coins and run to the store. I've kept coins around ever since.
But recently, I've noticed that my pennies and coins don't go very far at all anymore. Prices of food seems to be greater than ever. I even tried to buy an orange in Chinatown, where the prices are supposed to be a little cheaper, yet even an orange cost almost a whole dollar. Pears are $1.49 a pound, and worse still, milk is about $4 for a half gallon. I know Hawaii prices are more expensive than other parts of the country, but my family tells me they have also seen a rise in prices where they live.
As part of my job as a trader, I keep track of what's happening in the world markets. One of the biggest issues is the dramatic fall in the value of the US dollar. With the dollars fall, commodity prices like for wheat, copper and oil have gone up significantly. Oil futures have passed $100 a barrel and gold is nearly $1000 an ounce. Basically, the cost of everything has gone up like a rocket and for the foreseeable future looks to go higher unless the dollar stabilizes.
On another note, I think its an absolute shame what has happened to the U.S.'s top tier finance companies and investment banks. Due to the huge write-offs, losses, and credit problems among such names as CitiGroup, Morgan Stanley, Merrill Lynch and others, they have had to sell big chunks of their companies off at a discount to sovereign wealth funds. The middle east's Abu Dubai sovereign wealth fund rescued CitiGroup, and now China's sovereign wealth fund owns 10% of Morgan Stanley! I think that is indicative of the sad state of the U.S.'s leading financial companies today.
In regards to the upcoming U.S. election, I have created a new website to help people select a candidate or easily search candidate's websites on issues they care about. Check out http://www.presidentseek.com/.
I figure this site may be a little late for the 2008 election, but I will keep working on it and hopefully, by the 2012 election and later, it will be very useful and get a lot of views.
When I was a little kid, I remember my Dad had a penny jar. It was a giant 2 gallon sized glass jar, and he threw all his spare change into the jar. It seemed like it had a thousand pennies and other coins in it.
Sometimes, if I wanted to buy something, I could get some coins and run to the store. I've kept coins around ever since.
But recently, I've noticed that my pennies and coins don't go very far at all anymore. Prices of food seems to be greater than ever. I even tried to buy an orange in Chinatown, where the prices are supposed to be a little cheaper, yet even an orange cost almost a whole dollar. Pears are $1.49 a pound, and worse still, milk is about $4 for a half gallon. I know Hawaii prices are more expensive than other parts of the country, but my family tells me they have also seen a rise in prices where they live.
As part of my job as a trader, I keep track of what's happening in the world markets. One of the biggest issues is the dramatic fall in the value of the US dollar. With the dollars fall, commodity prices like for wheat, copper and oil have gone up significantly. Oil futures have passed $100 a barrel and gold is nearly $1000 an ounce. Basically, the cost of everything has gone up like a rocket and for the foreseeable future looks to go higher unless the dollar stabilizes.
On another note, I think its an absolute shame what has happened to the U.S.'s top tier finance companies and investment banks. Due to the huge write-offs, losses, and credit problems among such names as CitiGroup, Morgan Stanley, Merrill Lynch and others, they have had to sell big chunks of their companies off at a discount to sovereign wealth funds. The middle east's Abu Dubai sovereign wealth fund rescued CitiGroup, and now China's sovereign wealth fund owns 10% of Morgan Stanley! I think that is indicative of the sad state of the U.S.'s leading financial companies today.
In regards to the upcoming U.S. election, I have created a new website to help people select a candidate or easily search candidate's websites on issues they care about. Check out http://www.presidentseek.com/.
I figure this site may be a little late for the 2008 election, but I will keep working on it and hopefully, by the 2012 election and later, it will be very useful and get a lot of views.
posted by Mark at
2:34 PM
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