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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Aubie Baltin
September 17, 2009
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ECONOMICS AND POLITICS

As much as I know, from first hand experience, that it is bad for business to discuss either politics or religion, how can any economist or stock market analyst not discuss the latest edicts out of Washington in projecting the future workings of either the economy or the stock markets? And yet that is exactly what is being done! In the face of 90% plus bullish and optimistic projections, the fact of projected annual trillion dollar plus deficits as far as the eye can see is not even mentioned. Does anyone really believe that deficits of this size will have no effect on the future?

Does the fact that the government now consumes more than 50% of GDP, up from only 18% during the 1920’s mean nothing? Business as usual, I guess?

Does the injection of over $13 trillion into the economy in less than one year, with the printing still running 24/7, mean that there will be no affect on inflation?

And yet that must be exactly what it all means since none of these questions seem to play any role in any of the analysis of our well known Economists/ Analysts or Stock Market Gurus.

NONE ARE SO BLIND AS THOSE WHO REFUSE TO SEE:

If there has been one point of agreement as to the reasons behind our current malaise and the near complete world financial melt down, it was that interest rates were kept too low and for too long in addition to a tremendous expansion of out-of-thin-air fiat money. Yet, here we are with near worldwide zero percent interest rates and the FED’s printing presses running 24/7 and NO ONE can see that these forces have created a Stock Market BUBBLE (as well as other bubbles not yet determined).

NO, NO the market is up 50% solely because of all the green shoots. Never mind that the government’s worst case projections on deficits and unemployment were surpassed within one month of being made and the 9.4% unemployment figures are really closer to 17% and rising quickly. That, in a little over a month, the government’s projected deficits were increased by a trillion dollars and that is using their own numbers. What about CAP and Trade and Obama Care? What effect will they have on GDP? Let’s not forget that the Bush Tax Cuts are due to expire in 2010. What effects will all the new taxes on tobacco alcohol and soft-drinks, etc. have on the reduction in business investment and consumer spending? Almost forgot; what happens to government Tax Revenue?

WHAT WILL BE THE LAST STRAW THAT FINALLY BREAKS THE BACK OF CAPITALISM or has it already been laid?

HAVE WE ALREADY TAKEN THAT FINAL STEP DOWN THE ROAD TO SOCIALISM SO IT IS NOW TOO LATE TO TURN BACK?

I ask these questions not because I expect you to answer me, but because I am too afraid to think too much about the answers and I am kind of hoping that I have already taught you all enough by now to come up with the answers for yourselves.