In Jim Cook's Archive


Years ago, I had a business associate who changed my political views. Bernard T. Daley spent most of his short life convincing people to embrace free market economics and capitalism. He successfully eliminated their socialistic views. He converted a lot of people before he died of a heart ailment at age 48. It was one of the greatest shocks of my life when this dear friend passed away.

Bernie used to say to me, “Jimmy, we’re going to hit the gutter.” He believed that the government’s social programs would bankrupt America. He thought that runaway inflation was inevitable because the government would never stop spending and the Federal Reserve would always print up new money necessary to pay the government’s bills. He thought that taxation was immoral because it relied on force and he was convinced that high taxes crippled the economy. When the sermons in his church were too liberal he tried to convert the priest. When that didn’t work he left the church. When he was audited by an IRS agent, he converted him to a pro-capitalist viewpoint. Bernie knew the liberal agenda was the blueprint for national ruin and he would convey this fact to anyone who would listen.

Since Bernie left us over 40 years ago, much has change for the worse as he suggested it would. Back then, inflation was an evil. Now it’s a policy. Years ago the government would occasionally balance the budget. Now that’s impossible. Capitalism was respected in most quarters, now it’s denigrated. Welfare had a stigma attached, now it’s a way of life. It wasn’t so long ago that foul language was forbidden on TV and in music. Now the lyrics of some rap songs are so gross you wonder if we already have hit the gutter.

Bernie was a smart guy. He could look into the future and see the sorry outcome of the government’s socialistic schemes. I don’t doubt that most of what he predicted will come to pass. When it comes to the economy and the soundness of the dollar, we are in big trouble. We’re going to find out if Bernie was right.

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