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Showing posts from October, 2011

Money, College, and High School Sports

I have a daughter who is a freshman at George Washington University. She has been in school for about 59 days now. For the last two weeks, we have gotten several appeals for more money on her "GWorld" spending card so that she can "eat."

When she started school, her GWorld was funded with $1,000 and her Dining Dollars account was given $700. That's $1,700 to spend on food and sundries. After 59 days of school, and an infusion of $200, she is down to about $300 overall.

We are able to get the transaction breakdown of her spending, which allowed me to come up with some metrics.

Being female, she needs makeup and other girl things from a pharmacy store like CVS. To that, she spent $438, or roughly $7.42 per day.

Being a hungry college kid, she spends most of her food money on carbohydrates and fast food from 7-11. To that, she has spent $745 or roughly $12.63 per day. Recently she discovered the magical elixer of caffeine, which comes in nifty packaging from Starbuck…

Where is your $46,376 bailout?

The US GAO (Government Accounting Office) has published its audit of the federal reserve:

Audit in PDF | Synopsis of Audit

The audit shows the Federal Reserve Bank issuing $16 TRILLION in debt to banks and corporations around the world. Who authorized this release of US capital? The Federal Reserve Bank chairmen, such as Ben Bernanke.

For the 340 Million happy citizens of the US, that $16 Trillion is about $46,376 for every citizens of the US. Remember back in the Bush Presidency where we all got a little check for $800, or $1200, or something like that as our "incentive" to go invigorate the economy? That little amount seems more like a slap in the face now. With $16T of cash, the US could have paid all of its debts and gotta China off of our back.

Instead we continue to print paper with little regard to the consequences because the people in charge of said currency are not governed. We, the people of the United States, should be in charge of where our money is lent. That mean…