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Jim Cook



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 Bill Buckler
September 23, 2008
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Obviously, any financial organisation which takes on $US 5.3 TRILLION of the debt of two other organisations as well as their $US 3 TRILLION in off balance sheet obligations deserves very close scrutiny. What does one find when one examines the books of this organisation, the US Treasury?

One finds spending vastly exceeding revenues - taxes in this case. One finds funded debts of $US 9.6 TRILLION and climbing fast. One finds UNFUNDED liabilities which it has contracted to deliver to the American people of close to $US 100 TRILLION. If that near unimaginable sum is doubted, examine the words of a former American high official, the former President of the Dallas Federal Reserve, Richard W. Fisher. Mr Fisher has stated this: "Add together the unfunded liabilities from Medicare and Social Security, and it comes to $US 99.2 TRILLION over the infinite horizon." If the funded and unfunded liabilities of this financial organisation are added together, they come to $US 108.8 TRILLION! And THIS organisation - the US Treasury - is the one which will bail out Fannie, Freddie et al?!?

Ó 2008 – The Privateer

(reproduced with permission)


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