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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 6, 2007
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WARNING

Henry Hazlitt was a famous writer and economist in the twentieth century. Years ago he penned these words:

"Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation. The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians."

"If the welfarist-socialist-inflationist- trend of recent years continues in this country, the outlook is dark. It is a prospect of mounting taxation, snowballing expenditures, chronic deficits, a budget out of control, an accelerating rate of inflation of the kind endemic in Latin America, a collapse of the dollar and increasing world currency chaos…"

Some of these events have already come to pass and the rest will be forthcoming. You can choose to ignore the warnings of this great thinker, but should you do so, you risk personal impoverishment. You cannot depend on the promises of politicians, economists and Wall Street inflationists to protect your assets or you risk losing everything. Inflation and a falling dollar can wipe you out. Never underestimate the totality of chaos and betrayal that comes through currency debasement.