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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 Jim Cook
March 3, 2009
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DIALOGUE

American: Do you think you could help me?

Chinese: What do you mean?

American: I need some money.

Chinese: How much?

American: Three trillion.

Chinese: Wow! You’re not bashful.

American: What do you say?

Chinese: I don’t think so.

American: Please, pretty please.

Chinese: I already loaned you a bundle.

American: It’s gone. I have to have more.

Chinese: What am I going to do with all your IOUs?

American: Keep holding them. I’ll pay you interest.

Chinese: How much?

American: I can’t pay much, a couple of points.

Chinese: It’s too low. Call me if you can pay more.

American: I need it now.

Chinese: Hey, I’ve been selling your IOUs lately.

American: I heard that.

Chinese, Frankly, I don’t have as much as you need.

American: I’ll buy some toys and stuffed animals from you.

Chinese: Okay, but will you quit throwing your weight around so much?

American: I’ll try.

Chinese: I might get you part of it.

American: I can print up the rest.

Chinese: That will make my IOUs worthless.

American: I’ll do it in the night.

Chinese: You’re going from bad to worse.

American: Listen, I’ll double my order for stuffed animals.

Chinese: I don’t think so.

American: You won’t help me?

Chinese: No, I just can’t do it.

American: What am I going to do?

Chinese: There’s a Japanese guy lives down the street. Try him.

WE COULDN’T HAVE SAID IT BETTER

"Since there’s 10 times the money in circulation than in 2002, in real terms a dollar is worth one tenth of what it was then. All the rhetoric coming out of Washington and Wall Street is designed to make us overlook that simple fact. Never mind the economic systems in which this is happening. Such an exponential growth increase in one variable in any equation – be it physics, biology, astronomy – would represent an unsustainable force. Nature automatically seeks equilibrium and, at some point, some force or counter-opposing events to balance it. That hasn’t happened yet, and that’s what is inevitable. All human systems, including economics, are based on and reflect the laws of nature. We can delude ourselves with our language and our formulas and our currencies and our mathematical interpretations into believing this or perpetuating the imbalance. But at some point, it must give in; it must give way." James West, Newsletter Editor

"Looking at the dismal record of fiat currencies throughout history, no country that has disconnected their currency from a gold or silver standard has ever made it past the 40 year mark before inflationary panic and disaster unfolded. The United States is now in the 37th year of its fiat currency experiment since Nixon took us off the gold standard in 1972….. The latest so called ‘economic stimulus package’ is nothing more and nothing less than creating money out of thin air. It absolutely guarantees hyperinflation within eighteen months time frame, possibly much less and gives us colossal opportunities to profit in non-dollar assets such as the precious metals….. This next wave down is going to be a whopper because it will involve the popping of the commercial real estate bubble and its associated derivatives." Greg McCoach, Newsletter Editor

"When Obama campaigned for president, his position was that extending Bush’s tax cuts would be unaffordable and irresponsible. Yet, it turns out that when Obama wants to spend a cool trillion dollars on his pet project, it’s available, reasonable, and necessary. They say that a tax cut is a ‘giveaway to the rich,’ and that it’s ‘unfair’ and ‘greedy.’ Really? How can it be a giveaway when it’s our money in the first place? The real giveaway is Obama offering a ‘tax cut’ to the 40 percent of Americans who paid no taxes last year. The real giveaway is the millions of people (virtually all Obama supporters) who are on welfare, Medicaid, food stamps, aid to families with dependent children, housing assistance, free school breakfasts and lunches … the list goes on and on. And as for the ‘G word’ – you mean it’s greedy to want to keep more of your own money, but it’s not greedy to ask government to give you someone else’s money?" Wayne Root, 2008 Libertarian VP Candidate

"There is no longer any means of reversal of the beginning of the final phase of inflation. For your sake, protect yourself immediately. Be prepared for disruptions in distribution common to hyperinflation…. The key event was when Lehman was flushed – all hell broke loose. The hell cannot be contained in any practical manner." Jim Sinclair, Newsletter Personality

"This looks to me to be the correction of the 64 years of inflation and debt-building that has gone on ever since World War II. I see the months ahead as being very difficult, but I’ll do my best to be helpful to my subscribers. I lived through the Great Depression and combat in WW II. I can’t imagine that the years ahead will be more difficult than those old bleak and frightening days. For decades the American punch bowl overflowed, with the help of the Federal Reserve and the creation of unconstitutional fiat money….. Now we must pay." Richard Russell, Dow Theory Letter

"Faced with a prospect of downgrading its lifestyle, the U.S. government is instead borrowing trillions of dollars to artificially inflate our deflating bubble economy. The money is being used to both expand the size of government and finance additional consumer spending. Given our financial position, this is the exact opposite of what we should be doing." Peter Schiff, Author

"The problems in Eastern Europe which are just now emerging with full force are, if you will, an indirect consequence of the libertine monetary policies of the Greenspan Fed from 2002 until 2006, the period where Wall Street’s asset backed securitization Ponzi Scheme took off. The riskiness of these eastern European loans is now coming to light as the global economic recession in both east and west Europe is forcing western banks to pull back, refusing to renews loans or ‘rollover’ the credits, leaving thousands of borrowers with unpayable loan debts. The dimension of the eastern European emerging loan crisis pales anything yet realized." F. William Engdahl, Author

"As the recessions all over the world grow progressively worse, the cry for bailouts grow ever louder as the realization that a world wide DEPRESSION is becoming increasingly likely and the proposed solutions are becoming more and more Marxist. The Socialist, Populist takeover of the world’s education systems has made sure that there are NO Economists from either side of the isle that even know what real Capitalism is let alone understand it. Throughout the world, Socialist bailouts are being pushed forward without a single thought given to the possibility that it has been ever increasing Marxist Economics that have brought the world to the brink of economic collapse, exactly as happened in the 30’s. Capitalism is and will get the blame for the disaster that is about to befall us all." Dr. Aubie Baltin, Newsletter Editor

"Those betting on the relative safety of the U.S. Treasuries and U.S. dollar underestimate the relative depths and severity of the economic and systemic-solvency crises in the United States versus the rest of the world. Also underestimated is the upside inflation risk in the United States. The costs to the system of the stimulus and bailout packages will be inflation, with risks of high inflation moving to hyperinflation as early as the end of this year. John Williams, Newsletter Editor