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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 Doug Noland
June 15, 2010
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Massive federal borrowings have sustained U.S. financial and economic recoveries.  These recoveries have bolstered acutely vulnerable State & Local finances.  So far, (over-liquefied and speculative) markets have accommodated the ongoing accumulation of government debt at quite low interest rates.  Some have compared U.S. governmental finances to that of Greece, while others have dismissed such talk as ludicrous.  It is fair to say that the U.S. system has – and continues to build – enormous risk to rising market yields and/or debt market disruption.  I would argue that this risk is more dangerous than previous Bubble vulnerabilities to mortgage Credit disruptions – risks identifiable during those Bubble years right there in the Fed’s “flow of funds” Credit data