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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
August 1, 2006
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CHRONIC INFLATION

Any talk of aggressive Federal Reserve action to quell inflation appears to be only talk. The Mogambo Guru reports total Fed credit increased by $11.5 billion the second week of July. He writes, "It was only a couple of months ago that Ben Bernanke, chairman of the Federal Reserve, confided to CNBC’s Maria Bartiromo that "it’s worrisome that people would look at me as dovish and not necessarily an aggressive inflation-fighter." Hahaha! Now we know why people look at him as dovish on inflation! $11.5 billion of brand-new credit in one week! Pure, excessive monetary inflation, which always precedes, and causes, price inflation!

"And the unholy Fed is absolutely going bananas with accommodating the repo market. There were $24 billion in repos just last Thursday alone! And, for good measure, the Fed printed up another $5.3 billion in actual cash last week, enough for every man, woman and child in America to get $18 in cash."

Our inflation compass indicates that prices for the things people spend their money on (including assets), are going up 10% a year. Real assets, like silver, should protect you best against the ongoing loss of purchasing power in the currency.