Hard numbers: The economy is worse than you know
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UBS reports first quarter net loss of $11 billion, cuts 5,500 jobs
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Just as I had warned you, folks: Penny prices pinched by rising cost of metal. The article begins: “Further evidence that times are tough: It now costs more than a penny to make a penny. And the cost of a nickel is more than 71?2 cents. Surging prices for copper, zinc and nickel have some in Congress trying to bring back the steel-made pennies of World War II and maybe using steel for nickels, as well.” (A hat tip to Paul in Kentucky for sending us the link.) A reminder: You still have a brief window of opportunity to salt away some rolls of nickels at face value.
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Rumors of shortage prompt rush on rice in Anchorage area. This confirms my previous writings about the vulnerability of Alaska to shortages, because of its dependence on sea and air freight for necessities.