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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 Michael Pento
January 24, 2012
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U.S. debt and deficits are running over $1 trillion per annum and amount to over 700% of Federal revenue.  And just last week, we learned that the monthly budget climbed to $85.97 billion in December, from $78.13 billion in the same month a year earlier.  The only relief from such a debt will be a default on the part of the United States.  A sovereign U.S. default would be pernicious for the dollar and massively bullish for gold.

The simple truth is the U.S. dollar is under increased assault from negative real interest rates, increased counterfeiting from the Fed and a national debt the government is attempting to inflate away – that truth isn’t made less painful just because a European vacation may be getting cheaper.

Since the intrinsic value of the dollar continues to deteriorate, long-term investors would do well to ignore the dollar’s temporary and beneficial measurement against the Euro and focus on its true fundamentals, which are forcing investors towards gold.

 

Michael Pento, President
Pento Portfolio Strategies
www.pentoport.com
mpento@pentoport.com