Silver: Americans Buy It & Why The Government Hates Them For It

On a recent fall evening millions of Americans hunkered down to relax and turned the television on.
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The Federal Reserve Has Killed the Bank CD

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This blogging site is not a fan of the Federal Reserve. The money printing that has gone on f

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Federal Government Spending For the Next 10 Years

Economics 21 had an interesting graph in their article titled “How to Fix the $960 Billion Budget Deficit”.

Here is how federal government spending will be broken up the next ten years.

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Almost two-thirds of additional spending will be driven by entitlements, primarily Social Security, Medicaid, and Medicare. America’s aging population is the primary contributor to the growth of Social Security and Medicare, while the Affordable Care Act substantially expanded the scope of Medicaid.

Adding interest payments to the budget brings the total increase in the debt from mandatory spending to 85 percent. Spending is projected to grow by $2.3 trillion annually by 2024.

$43 Hot Dog

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CNBC reports as the financial elite meet at Davos for the World Economic Forum they are shelling out some hefty money to eat food. Appearently hot dogs are a big seller:

Full of global leaders, policymakers, business gurus and the odd music star, the attendees at the World Economic Forum (WEF) at Davos aren’t short of a dollar or two. But they might well be at the end of the week — with some of the food prices around town proving to be a little hard to stomach.

At the posh Steigenberger Grandhotel Belvédère, a conference hotspot, even humble menu items can be astronomically pricey. A hot dog with pickles, fried onions and mustard is priced at 38 Swiss francs (about $43.50). It’s 48 Swiss francs for a chicken Caesar salad with parmesan (about $55) and a draft beer at a local restaurant – in a pint-sized glass – can cost 6.50 Swiss francs, about $7.50.

I really don’t know how this yearly meeting of financial gurus does for the world economy. Probably a lot of it is nostalgia. But you do get a lot of lecturing of how to live your life from these people. This does remind me of a story related to Walmart. One year during their annual board meeting of directors the financial numbers weren’t too hot. The meeting was getting close to lunch and board members were getting ready for a big spread. The door opened and it was a Walmart associate with bread, lunch meat and some chips. The members looked stunned and the director said [paraphrasing] “If we are losing money, that means we have to cut expenses”.

I think I’ll buy my hot dogs at Walmart.