Word: coppers
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...hard enough staying cool these days, what with heat indexes topping 100 degrees around the country. But it doesn't help that a growing number of petty thieves looking to capitalize on rising copper prices are stripping air conditioners to sell the cooling coils on the black market...
Thanks to spiking metal prices caused by demand from China and India and a couple of smelting-factory shutdowns in Mexico you may not have heard about, the zinc inside a penny now costs .83 of a cent. (The U.S. got rid of almost all the expensive copper in 1982.) Add distribution and production costs, and you're up to 1.3 cents to make a penny, which freaks people out. That's because the U.S. Mint claims to make a profit, called seigniorage, on the difference between the cost of producing currency and its value. That, however, is stupid. Printing...
...penny away, that has a huge impact on how people view the economy and inflation." If you think Fed Chairman Ben Bernanke's statements rock the markets, Weller says, wait till you see what happens if we lose the penny. Then Weller gets personal. "Kolbe is from the leading copper-producing state in the Union. And," he continues, "nickels are mostly made of copper." Kolbe counters that he's for de-copperizing the nickel, which also costs more than it's worth. Soon Kolbe may be coming for your dimes...
...collision stove a hole below the Brunswick's waterline, breaching the wooden planking and the copper-alloy-sheathing of her hull. Afterward, the ship's officers and crew had done their best to still the rush of sea-water into the ship's holds. But the ship's master, Alden T. Potter, knew that, with over a thousand miles of water between them and the nearest shipyard, he and his crew had little hope of repairing the vessel. In the meantime, all he could do was what American captains had always done in such situations: raise Old Glory upside down...
...President. He consulted with Wall Street on economic policy, kept tariffs high--they protected American industry but meant higher prices for consumers--and never moved to curb the growth of trusts, the huge enterprises that gathered together smaller companies to form near monopolies. Oil, steel, rubber, copper--one after another, the major sectors of the U.S. economy were becoming dominated by behemoths like John D. Rockefeller's Standard Oil, which marketed 84% of all the petroleum products in the U.S. As large companies gobbled up smaller ones, McKinley did nothing to spoil the feeding frenzy, though it often meant higher...