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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
OCTOBER 17, 2011
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STOP THE PRINTING PRESSES

The current outbreak of hatred towards capitalism proves once again that hardly anybody gets it.  All the reasons we hear for a weak economy, unemployment, and the mortgage mess are wrong. 

When we went off the gold standard it allowed Washington to expand money and credit.    Politicians were free to deficit spend and to inflate.  Consequently, this loose money and credit engineered a series of business booms that were followed by busts.  Since the end of the second war we’ve had numerous booms followed by recessions. 

Inflating a currency is dishonest.  It waters down the purchasing power of people’s savings and causes financial stress for retirees.  The prudent and the thrifty are cheated.  Inflation acts as a hidden tax that robs the people.  It’s a sleazy government trick foisted on us by politicians, central bankers, and bureaucrats. 

This constant inflating that wreaks so much havoc causes people to blame capitalism and free markets.  They don’t blame the government for the bust, they blame business.  It’s important to understand most of our problems come from inflating.  These huge government deficits in the trillions couldn’t occur without printing new money to pay the bills.  Analyze all our economic and social problems and you will see the root cause is our inflationary policies.  Once you are equipped with that belief you can better negotiate your financial future.  Furthermore, you can see through the media fog.

An inflationary boom eventually leads to a crash that throws people out of work and imperils the economy.  In 2005 – 2007 it drove home prices sky high and then dropped them into the basement.  Most of the blame is aimed at Wall Street but they didn’t cause it.  Mr. Greenspan and his inflationary policies at the Fed caused it. 

For the greatest nation on earth to throw away its heritage and historic financial strength on a tawdry policy of debasing its currency is shameful.  The only solution is to stop the inflating and take the pain now, no matter how severe.  The alternative is national bankruptcy, social upheaval, and even bigger government.