Day: January 29, 2014

POLITICAL: SOTU is a crock

Published on by reinkefjLeave a comment

http://www.ijreview.com/2014/01/111537-seven-big-lies-obama-told-in-his-state-of-the-union-speech/

Seven Big Lies Obama Told In His State Of The Union Speech

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2) Raising minimum wage will help families

Obama sayeth, “[We] have a bill to fix that by lifting the minimum wage to $10.10… This will help families. It will give businesses customers with more money to spend… So join the rest of the country. Say yes. Give America a raise.”

It’s not hard to believe that Obama, who has never run a business, doesn’t understand that artificially forcing a business to pay someone more than their wage is worth will put more people out of the labor market. Making job creation more expensive leads to fewer jobs.

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I’m sorry that I believe that the “minimum wage” is essentially a tax on the poor and “middle class”. As, if  there was a difference.

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MONEY: Nickels are “poor man’s gold”

Published on by reinkefjLeave a comment

http://www.lewrockwell.com/2014/01/robert-wenzel/machinations-at-the-mint/

Price Inflation Will Force the US Mint to Once Again Change the Metal Content of Coins
By Robert Wenzel
Economic Policy Journal

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The Mint is considering a change to the mix of metals it uses to make quarters, dimes and nickels, because of the climbing cost of production of the coins. reports WSJ.

It now costs 1.8 cents to make a penny and 9.4 cents to make a nickel, costing the federal government about $104.5 million last year.

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I fully expect that in the next bout of accelerating price inflation that the value of the metal content of current nickels will soar. Thus, nickels are a great no downside investment. If the price inflation I anticipate doesn’t develop, just spend the nickels. For more on nickels as an investment see: Why You Need to Own Nickels, Right Now

http://www.economicpolicyjournal.com/2011/02/why-you-need-to-own-nickels-right-now.html

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Nickels are “poor man’s gold”.

Argh!

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