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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 Doug Noland
September 4, 2012
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History is littered with devastating monetary fiascos.  I have shelves stacked with books that recount in lurid detail the havoc wrought from money and credit-induced boom and bust dynamics.  Each episode has its own nuances – i.e. differences in the nature of prevailing credit instruments, financial institutions, leveraging methods, governmental oversight and responsibility, and varying market, economic and societal ill-effects.  Yet in virtually all cases, the postmortem was similarly unequivocal: the inflation of money (various monetary instruments) was understood as a root cause of booms that ended with great economic and social hardship.  I most cases, there were aspects of an increasingly unwieldy escalation of money printing/debasement – along with, of course, all the attendant rationalizations, justifications and assurances