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Here's another indicator that our economic system is in meltdown. At least, the copper portion of our coinage is worth something, melted down...From Boston dot com...

May 9, 2008 WASHINGTON - The House has voted to bring back the steel penny, saying it would be cheaper to make. Currently, the government loses money on every one-cent coin it makes because of rising metal prices.

The bill would direct the Mint to begin producing, within nine months, pennies made out of copper-plated steel - not the zinc-copper alloy currently used. The measure also recommends the phasing in of steel nickels over the next two years.

Democrats, who noted that the government produced steel pennies during World War II, when copper demand was high, said the plan would save $1 billion over the next decade. Unlike the gray steel pennies produced during the war, the new steel pennies would retain their copper color.

"It is an insult to American taxpayers that we are manufacturing coins at a rate more than their face value represents," said Representative Zack Space, an Ohio Democrat.

No, it's an insult that we've allowed the dollar to devalue to such a sorry low. Are Americans now worthless? Do even our one cent coins have more value as raw materials?

Copper and aluminum thieves ransack churches and foreclosed homes for their copper pipes and wiring, leaving banks stuck with worthless hulks they can't sell. Thieves are knocking holes in gas tanks to steal that 'liquid gold'. The outlook isn't good for taxpayers, given the Democrats will attack any problem with tax increases and more social spending.

Steel pennies aren't such a bad thing; I've a nice collection of WWII dates. Then, the need for copper was to fuel the wartime economy, the manufacturing engine that America represented, the world's best and strongest. Now, all of that is going to China. America is allowing our copper to export overseas, to be remanufactured into goods that come back here and sell for a few cents less.

Enough for now. I'm off to Wal-Mart.

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