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Economy - Page 10

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Canada Has Eliminated the Penny

Even stacked together in a jar, all those pennies you have are fairly worthless. However, they may soon become collectors’ items.

Canada, our neighbor to the North, has just eliminated the penny in their latest federal budget, following the example of nations like Australia and New Zealand. The Canadian national mint will stop producing the one-cent coin over the next six months, and businesses have been asked to return pennies to be melted down.

We thought it was a joke too, but apparently the Great White North is serious:

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via Chung Sung-Jun, Getty Images
via Chung Sung-Jun, Getty Images
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Big Majority of Americans Angry With Obama

A recent poll shows that more than two thirds of Americans do not approve of the way President Barack Obama is handling gasoline prices.

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via flickr/DonkeyHotey
via flickr/DonkeyHotey
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Student Loan Debt Tops $1 Trillion

Did you know that America's total student loan debt now surpasses the nation's total credit card debt?  It's true.  Sometime last year, credit card debt actually declined a little, as more and more people stopped using credit cards.  But student loan debt keeps going up, and up, with no sign of stopping. Worse, there's almost no chance that any of it will ever be paid off.

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Ohio Arts / Patrick Smith, Getty Images
Ohio Arts / Patrick Smith, Getty Images
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Political Gaffe By Mitt Romney’s Camp Helps Etch A Sketch Sales Skyrocket — Dollars and Sense [VIDEO]

During an interview earlier this week, an advisor to Mitt Romney inadvertently made a comment that is now likely to stick with the GOP hopeful for the duration of the campaign season, and it’s lead to a boom in sales for a very old and largely forgotten toy: the Etch A Sketch.

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via flickr/Comtesse DeSpair
via flickr/Comtesse DeSpair
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Record Numbers of Churches are Foreclosed

Banks are foreclosing on America's churches in record numbers -- as lenders lose patience with religious groups who defaulted on their mortgages.  The surge in church foreclosures shows many banks are no longer willing to show forbearance with struggling churches.

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via Joe Raedle, Getty Images
via Joe Raedle, Getty Images
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Rage Grows Over Fed Mortgage Bailout Deal

The more we learn about the massive $26 billion foreclosure settlement between the five biggest mortgage lenders and the states' attorneys general, growing numbers of borrowers are realizing that the deal will do little, if anything, to help them out.

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‘Homeless Hotspots’ Ignite Heated Debate

The annual SXSW interactive conference in Austin is sometimes plagued with snail-slow internet speeds (when you can connect at all). But this year it’s been a little easier to find a wifi hotspot: just look for a homeless person. Yes, homeless people are now being used as wifi spots.

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castano, Flickr
castano, Flickr
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Could You Live on $2 a Day? Lots of Americans Do – Dollars and Sense

There are a lot of celebrities that won’t get out of bed for less than a quarter of a million dollars, but a lot more Americans are surviving on much, much less.

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