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It costs 1.2 cents to make a penny (1 cent)!

Now all the currencies in the world have value only because everybody who uses them agrees they have value. The RMB, for example, is rarely accepted in the United States because of rampant counterfeiting and capital controls by the Chinese government. The USD, one of the most counterfeited currency in the world, is accepted by everybody without question because it is THE currency of trade and commerce in the world (simply because the oil states have agreed to trade oil in USD).

The SGD was not widely accepted in the early days of its use too. It was with great pride then, that I found the SGD accepted at the Leonardo da Vinci airport back in 1991 (but not the MYR!) Today, despite the Singapore government’s refusal to internationalise the SGD, it remains a currency of choice in countries like Indonesia (especially in islands like Batam and Bintan).

Now, one of the reasons why counterfeit currency is never found in smaller denominations comes from the fact that there’s a production cost involved in making the notes. The more sophisticated the anti-counterfeiting technology used, the more expensive it is to produce the notes - so counterfeiters almost always counterfeit the more expensive notes, so that it’s more worth it.

So when the penny coin kept being circulated and produced, despite the fact that no counterfeiter would ever produce it, tells of how ridiculous things can get sometimes. Singapore retired that coin many years ago. Imagine using a USD100 note that costs USD120 to produce and you’ll really balk at the logic behind.

But as usual, there’s really no logic involved (or there is, depending on your point of view). The penny is being kept in production simply because it’s supporting one industry - the zine producers (the penny is made of zinc). About 1/3 of the cost of producing the coin comes from the cost of the metal. Any attempts by the government to retire the penny would be met with fierce opposition and lobbying by this powerful industry.

I think I hear some gasps from my American friends. Maybe it’s time you support your congressmen who are lobbying for the retiring of the penny. Then perhaps some the debts can be paid off, and the world can heave a sigh of relief (the world will probably collapse if the USD ever collapses…which I personally think it will one day)!

Michael Chan used to be a teacher, before he left to run a managed fund. When his business failed, he returned to teaching, and is currently a Department Head at the Shanghai Singapore International School.

He constantly applies his business acumen to his job, to add value to his employer. His thoughts on K-12 education and on financial education can be found in his blog at http://www.senseimichael.com

Currently we have an MBA President and our economy is cooking along find, actually better than anyone could ever expect. Should we continue to have MBA Presidents? How about CEO Type Leaders in Government, many believe we should, even as they also say that government is not a for profit business.

The idea of a CEO type of leader perhaps along Collin’s line of thinking in his book; “From Good to Great” with a strong mission statement, which we already have in the Constitution; “To Protect the American People” and to maintain the flows of our civilization or foster standardization for State, County and Local Governments to perform those tasks; previously listed.

Of course the choice for a CEO type leader must also be someone who is a strong leader too. Currently, I find our top leaders to be over burdened with inane tasks and over loaded. Perhaps along the Corporate Model, we need a COO, CEO, Chairmen of the Board and a strong board of directors all in sync makes sense.

Because as it stands our commander in chief has too much to do, not that one person cannot handle it, a super star surely could, but it would be best to have a perpetual tourist operating with other world leaders constantly and a domestic affairs chief to be on top of all things.

Terms might be 6-years at the helm with the team with an election for four more if indeed the direction of the country was positive, duly elected and re-elected of course, otherwise it is hard to get anything done or see a plan thru, and it is time to worry about campaigning, just too much tail-dog syndrome.

I certainly hope this article is of interest and that is has propelled thought. The goal is simple; to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.

“Lance Winslow” - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington

Many people say that liberalism works in other nations. But first we need to ask what liberalism really is, we need to define it. Liberalism from our founding father days is not the type of liberalism we see today. The modern liberal movement in the United States is much close to socialism. And the Liberalism we see in other nations as an example really is Socialism.

And too that point Socialism is not working very well in most nations that are currently using that form of government and many are now leaning closer to communism and a few seem to be moving that way too quickly. Actually, it is not working at all, that should be evident.

Now then, regarding liberalism in other nations; well Capitalism pushes people up and rewards the strongest and we get better productivity obviously. The standard of living and quality of life, well we have 300 million people right?

So, we better get it right and keep it running like a top and use this model here as an example for up and coming super-nations like India and China and emerging nations to use as a model for them to allow for their populations to enter the middle class and increase their standards of living.

The country’s deficits are indeed high and unfortunate, I do not sign onto that obviously, but they are not out of line as nations go. I am inline with Bernake and other top economists on government spending. First and foremost however, we must protect the American People.

When borrowing money it is important to use it for increases in the flows of civilization in order to get a multiple benefit effect, where those infrastructure changes, advances in IT, etc provide us with a compounded quotient which pays dividends and increases monetary flows, business, wealth of citizenry and thus more inflows from taxation, while still being able to lower taxes.

Just like increasing efficiencies at lets say a GM Plant in OH or MI. Each time you increase efficiency there is an over all gain. Increasing efficiency of the flows of civilization means increased jobs and tax revenues coming in of course.Sometimes it is not evident that a more efficient plant is making more money immediately, often I feel our society is a “I want it now” results oriented society, yet if we will think a bit longer term then we will indeed be better off.

I see improvements in our Government’s efficiency now, but would like everyone wish it would be faster. We must be smart and think long and short term. I suppose one could say this is the same challenge that corporations have; Shareholders Equity, Quarterly Profits, while spending in R and D for the future and maintaining brand. Mistakes made on whims of mass media hysteria or due to an upcoming election mean short term decisions, rather than demanding both; long-term and short term best management policies.

Yes, it requires additional thought, but, like you said, if we put the best minds to work on it, we can have it all and win. Pessimists aside, it can be done and we must work together rather than divide and conquer ourselves of course.

I certainly hope this article is of interest and that is has propelled thought. The goal is simple; to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.

“Lance Winslow” - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington

Many have said that the issues with China and India taking the world by storm and attracting its manufacturing base is not a problem. Why? Well because they say nations like the US will move from manufacturing to service sector and into technology, designing a knowledge based workforce. That is to say; we design it and they will make it.

Indeed this sounds nice on the surface but it simply is not so. In fact we have put too many bureaucratic and regulatory barriers on innovation and entrepreneurship in the US. These emerging Super Powers have not only the Billion person workforce available, but also fewer regulations thus fostering entrepreneurship and innovation rather than stifling it. China will both do the designing and manufacturing, do not kid yourselves.

All these truths give them the advantage and we are simply not watching or caring about the competitive reality of world markets, been to India lately? Whooaaaah! Watching them grow is truly incredible too. We need to get off our butts here, well that is if we want what I got; No prisoners approach to innovation, diehard can do attitude and the entrepreneurship spirit of a hypomanic.

We have what it takes to revamp Motor City, but no one has the balls to clear the debris and the politics is killing American Industry. If no one else is going to fight, well, let’s just say I remain retired as an observer? Smile. Life is good either way, but I wish indeed we might solve our problems here as well.

I certainly hope this article is of interest and that is has propelled thought. The goal is simple; to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.

“Lance Winslow” - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington

In the future both China and India with each well over one-billion in population will be vying for the top status as the great World Economic Power Houses. The United States currently has a comfortable lead with with over 3.3 times the wealth of the next closest nation in GDP. But this will change and we already see China passing Germany in the number five position.

India is rising fast also and taking more of the slow boat and sustained economic long-term approach. China is rising fast and there is no slowing that economic engine as the expansion rate hits some 10% annually. Some say they cannot maintain this, and yet if you look at the 1.3 Billion people there, well if they play their cards right they certainly could.

Here is an interesting story; One gentleman, a globalist I met with discussed the reality of perhaps even merge the nations if it is feasible in the future. I discussed with him the option of Franchising all nation’s governments of the world and any colonies established off the planet in the same common cause, as it will be an issue within 150 years. It is amazing the stuff you talk about in a five star hotel lobby while traveling abroad?

You see here in the United States, we are making many errors in this nation attacking our industry and over lawyering, we are chasing jobs away. Meanwhile we blame someone else for our ridiculous over regulation and political correctness speed bumps to the reality of efficiency.

One thing Bob was not mentioning is that Chinese are becoming entrepreneurs themselves and they are designing things too and learning our best qualities of free-enterprise and innovation, but dismissing the onerous regulations and political correctness rhetoric and debris, blob of bureaucracy and pettiness.

I certainly hope this article is of interest and that is has propelled thought. The goal is simple; to help you in your quest to be the best in 2007. I thank you for reading my many articles on diverse subjects, which interest you.

“Lance Winslow” - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington