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.”
After years of taxpayer-funded cleanup efforts, footprint of the groundwater contamination under the Hanford Site has been reduced from 80 square miles to 65 square miles.
Switching out the conductors was an engineering challenge in itself. The ends of the building were knocked out, and a huge crane was used to move the silver elements, which were then run through a mechanical sheer to cut them into manageable sizes.
One in five recent graduates work in jobs that don’t require degrees at all.
Thanks to inflation, the banking sector since 1970 has grown from 4% of the economy to more than 10%. That’s why governments go on printing money, or more correctly, currency, “even though they’re in a hyperinflation situation.”
When immigrants come, they largely complement our talents; they don’t substitute for us. It frees American labor to do things that American labor is better suited to do. As a result we become more productive, and they become more productive.
On a standard 1/20 gram Aurum®, the gold is 267 nm thick, approximately half of one percent the width of a human hair.
Like all governments that spend (and lend) beyond their means, the governments of Germany, France and Britain are putting their future wage-earning, taxpaying citizens on the hook.
China's central bank became a big buyer of gold, banned the export of domestically produced gold, and initiated steps to trade directly with other nations without benefit of the dollar.
Mainstream media has for decades been undergoing consolidation to where television stations, print publications, metropolitan daily newspapers, book publishers, and online media sites become closer to singularity
Check out the commentary and charts using the tabs below the video.
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