Trash Talking

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That’s some sure valuable trash. Here’s a stat that will blow you away. At least it did me. In the United States, we dispose of several million cellphones a year. One million cellphones contain more than 35,000 pounds of copper, 770 pounds of gold, 75 pounds of silver and 33 pounds of palladium. By the way, a computer’s circuit board contains four times as much gold and twice as much copper as a cellphone.

Someone should thank the guy. Eric Fehrnstrom, Mitt Romney’s top adviser, sure caught a lot of flak for his Etch A Sketch comment. Personally, I didn’t see much reason for the Twitter-fueled media frenzy over the remark. But one group of people should thank him for it: investors who own shares in the Ohio Art Co. The stock price more than doubled, thanks to all the publicity the comment got.

This is an “affordable” light bulb? Last year, the Federal government awarded a $10 million prize for the production of a new, energy-efficient light bulb. Energy Secretary Steven Chu said that the prize would spur industry to make LED lights that are “affordable for American families.” The winning light bulbs cost a not-so-reasonable $50 each.

And speaking of Washington wasting money. The Bureau of Labor Statistics reports that unemployment in Washington, D.C., has increased by 8 percent since 2009, despite a ton of new Federal grants, loans, contracts, tax benefits and entitlements. In fact, despite receiving $900 million in stimulus money in the past three years, Washington, D.C., can’t account for a single new job that has been produced as a result. Your tax dollars at work, folks.

–Chip Wood

Personal Liberty

Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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