Videos about how to invest, investing in gold and silver, and economics 101
This week’s video, entitled “Debt Limit—A Guide to American Federal Debt Made Easy,” draws a satirical analogy between a deep-in-debt American householder approaching his banker to raise his debt limit to the recent deal to raise the U.S. federal debt limit
Man to banker: “I’d like to raise my debt limit.”
Banker: “Excuse me? Because the last time I checked, Mr. Smith, you were in serious debt.”
Excuse me, indeed.
Mr. Smith, it turns out, is carrying more than $140,000 in debt and has an annual income of about $21,000. “So you’re adding about $17,000 a year in debt,” his banker points out.
Smith doesn’t see a problem. “Right, so I figured we should raise that limit to about $170,000. I just bought a 60-inch flat screen. Have you ever been to Australia?”
As the banker, ever more incredulous, continues to question Smith, we learn that Smith and his wife have managed to cut an entire $380 from their annual budget. “Brutal,” Smith comments.
But the real punch line comes near the end, as Smith’s infant daughter scrawls across the loan agreement.
“Aren’t kids a blessing?” Smith says. “I mean she’s got plenty of time to deal with all this, right?”
“Absolutely,” replies the banker as the deal is sealed.
Just to make sure no one misses the point, two charts compare the Smith’s $380 spending cuts and the U.S. congressional deal to cut $38.5 billion in government spending in exchange for raising the federal debt ceiling by $1.65 trillion—both totaling approximately 1% of their respective annual budgets.
“Let’s go, kiddo,” Smith says as he prepares to leave the banker’s office. “We’ve gotta meet mommy at the car store.”
Zerohedge contributor Bob English and Inside Scoop’s Mark Levine discuss the roots of the wealth gap in this 2013 RT.com video clip.
"And inasmuch as that has yet to be seen in the U.S., or even in Japan after 20 years, we can’t necessarily say that it will never happen."
Leonard Read’s 1958 essay, ‘I, Pencil,’ reminds us of the timeless truth that freedom is impossible without faith in free men.
What the people really want is recognition for their diverse heritage and the opportunity for self-governance.
CBC report fingers worsening pollution, largely resulting from ever-increasing use of carbon-based energy, as the culprit in the shellfish die-offs.
Imagine what would be possible with a limitless, environmentally benign and safe energy source, that could somehow be harnessed as warp drive-fueling “negative energy.”
“At one time U.S. Treasuries were considered the safest investment you could make. Now you’ve got every reason in the world to be concerned.”
Europe must someday realize that government needs to shrink: Once Italians Were Outsiders, Now Its Turks and Yugos...
"High taxes and over-regulation threaten to strangle innovation in its crib."
Were U.S. States to adopt gold and silver bullion as legal tender on a broad scale, the alternate currency would compete with the dollar.
Video: Welcome to WealthCycles
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Video: So Much for Experts
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Video: Why I Sleep Well
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Video: The House Always Wins
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Video: Our World Today
Despite efforts by government and the financial establishment to intervene in natural cycles, the writing on the wall is clear.
Video: Coming Out the Other Side
Those invested on the right side of the cycle stand to benefit from the greatest wealth transfer in history.