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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 Puru Saxena
May 12, 2009
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It is my observation that the American establishment’s prime motive is to prop-up asset markets; never mind that such an objective will incur a massive cost to the American society. Let there be no doubt that by printing money, running massive deficits and increasing the national debt, American leaders are debasing their currency and setting the stage whereby foreigners will end up owning a large chunk of corporate America.

There is no doubt in my mind that over the following years, we will witness a massive shift of wealth and power from the West to the East. Over the past few decades, American companies were at the top of their game and they infiltrated the whole world. Now, it is probable that over the coming decade or two, we will see more and more foreign companies and governments increasing their stakes in American corporations.

In summary, the recent policy measures (monetary and fiscal easing accompanied by the nationalisation of private losses) adopted by the US government may have succeeded in stabilising the economy and supporting asset prices in the near-term, but the end result will be a significantly weaker US Dollar and very high inflation.