Report: Home Safe Sales Surge
Growing up in West Virginia, we had something we called "Appalachian investing:" Taking your cash, sealing it in Mason jars and then burying it in the back yard. Goes way back. Dig around in a Southern back yard enough, you're likely to unearth some Confederate dollars.
Today's version: Taking your cash and hoarding it in a home safe. Not quite as dirty and certainly a lot less colorful.
SentrySafe, the largest manufacturer of home safes, said last week that sales of home safes were up 50 percent in October, according to a Business Week report.
That's what you call a leading economic indicator.
Home Depot reports nationwide sales of home safes are up by double digits, Business Week writes.
The Fed says "money in circulation" -- that means cash in hand -- is at its highest level since 1999, when folks were worried that a Y2K collapse would wipe out their bank accounts.
-- Frank Ahrens
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November 10, 2008; 3:00 PM ET
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