Fear not, ye economically downtrodden: Katie Couric is looking out for you.
The "CBS Evening News" broadcasts over the last few months have found a multitude of ways to frame the U.S. economy in the worst possible ways, so much so that Couric compared CBS News correspondent Anthony Mason to the grim reaper on a recent newscast.
But Couric offered a solution to the pending doom and gloom you see every night on the news on the February 11 "Evening News" - stamp futures.
"And are you looking for a safer investment than the stock market these days?" Couric asked. "Well, how about postage stamps? The post office announced today the cost of first class postage is going up a penny in May to 42 cents. So if you buy one of those Forever Stamps now for 41 cents, it'll be worth 42 in May. Return on your investment, 2.4 percent tax free."
Yes, Couric recommended investing in the "Forever Stamp." The "Forever Stamp" is offered by the U.S. Postal Service, and costs the same price as a first-class postage stamp, but is always good for first-class postage, regardless of any increase in postal fees. Couric's suggestion implied flipping those stamps when the postage rate goes up to 42 cents on May 12 for a penny-per-stamp profit.
While a guaranteed 2.4 percent return wouldn't be bad, it's less than other safe investment options. For example, the yield on a one-year certificate of deposit at many banks has a higher return of 3.5 percent, according to BankRate.com.
Let's hope the "Stamp Bubble" isn't next.
