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Let's think about the kind of mess that we're in. Federal 2010 Medicare and Medicaid expenditures totaled $800 billion. The projected annual growth of both programs is about 7 percent. Social Security expenditures are more than $700 billion a year. According to the 2009 Social Security and Medicare trustees reports, by 2030, 49 percent of federal revenues will go for Social Security and Medicare payments. The unfunded liability of both programs is already $106 trillion.But not to worry. The Congressional Budget Office estimates that it's possible to sustain today's level of federal spending and even achieve a balanced budget. All...
Published on Wednesday 8th of February 2012 11:14:43 PM
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Posted by admin / Under Gold (Traffic Album)
"Ranting" Andy Hoffman and I revel in the New York Giant's well earned Super Bowl victory. And of course we couldn't be happier with the Patriots' resounding and well deserved defeat. But while we are extremely happy on the sports' front, the economic arena continues to disappoint. While the Feds continue to release stupendous employment numbers, a closer look "under the hood," reveals a lot of statistical "hocus pocus" taking place. The economy actually lost 2.9 million jobs in January, but through the convenient magic of seasonal adjustments and the much maligned "birth-death" index, the reality is not so encouraging,...
Published on Wednesday 8th of February 2012 11:14:43 PM
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A new first for the Financial Survival Network--a virtual round table. Gary Wagner and David A. Banister joined me for a discussion about the current price direction of the precious metals and how best to maximize your profits. Strategy is everything. From personal experience, I can attest to the fact there's no stronger intoxicant than a rapidly rising investment portfolio. Quick returns have been known to do in even the most experienced investors. Therefore, controlling your emotions and being open to advice from others can help. After all, learning from another's expensive mistake can help insure you don't do the...
Published on Wednesday 8th of February 2012 11:14:43 PM
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When Mark Skousen started Freedom Fest in 2002 he didn't think he was giving birth to a movement. Now, it's a decade later and thousands of people around the world are aware of Freedom Fest and routinely attend its events. I caught up with Mark at the Global Financial Summit in the Bahamas last week. As a freedom loving person, Mark was anxious to create a place where fellow freedom lovers could gather and start fighting the ever increases governmental encroachments. Far from being a US phenomena, governments across the globe have had an ongoing undeclared war on individual freedom...
Published on Wednesday 8th of February 2012 11:14:43 PM
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Posted by admin / Under Gold (Traffic Album)
The State Bank of Vietnam (SBV) will use a part of its current deposit insurance fund for foreign currencies and gold after starting to mobilize gold bullion from the citizens, said a SBV official. The fund will only be used in case of mass gold withdrawal when gold prices hike, the official who wants to remain anonymous told Tien Phong newspaper. "The central bank will raise gold through credit institutions," he said. It is expected that the SBV will submit the scheme for mobilizing gold from the citizens to the Government in the middle of Q2/2012, according to Tien Phong....
Published on Wednesday 8th of February 2012 11:14:43 PM
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