it costs more than a penny to make a penny (and other fun facts)…
February 10, 2010
Money Quote of the day:
The real measure of your wealth is how much youd be worth if you lost all your money. – Author Unknown.
The Fed pays the Bureau of Engraving and Printing (BEP) to print our currency. I always thought it was Bernanke in his basement doing this, but the BEP is a big-time institution. Last year the Federal Reserve System paid the BEP $500.4 million to print up our money. And just how much did they print? They produce approximately 26 million pieces of currency each day with a face value of $907 million; and 42.3% of those notes printed were $1 notes. Sadly, on any given day 97% of the money in my wallet is made up of $1 notes. (And sadder, the other 3% is coins).
Economic Reports This Week:
Housing Starts (expected up 0.4%; if less than this rates may drop). Producer Price Index (expected up 0.7%; if less than this rates may drop). Barrys Annual Physical (weight gain expected 3.4 lbs; less than this and it will be a Hostess Cupcake party tonight and youre all invited!)
Money Quote of the Day 2:
If its a penny for your thoughts and you put in your two cents worth, then someone, somewhere is making a penny. Steven Wright.
Timeout for Trivia:
Congratulations to all of you who correctly guessed the most overrated actress in Hollywood, Jen Anniston, as the answer to last weeks Who Am I? question. Want to be entered into a drawing to win quarterly cash and prizes worth more than $48? Simply email me the correct answer to todays question. Good luck: I turn 53 tomorrow, and I seriously have no idea on how I became so famous because Im not talented. In 1984 my show was the highest-rated syndicated program on TV. Im on every episode but I dont say a whole lot. I did have a speaking part as a goddess in a 1989 NBC movie that got ripped by critics and fans alike. Thats okay though. Im not looking for applause even though I would clap for you.
Rest in Peace:
Doug Fieger, lead singer of the Knack, passed away at 57 after a battle with cancer. Fieger has no idea that he is responsible for the first serious injury of my life. In 1979 when I was 13, I would take my boom box into the shower with me and crank My Sharona (which spent six weeks at # 1 that year). It was during one of my jam sessions that I slipped and banged my head on the faucet. Lying in the tub with a mild concussion, I was still able to finish my air-guitar solo before calling out to my parents that I needed to go to the hospital.