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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 William Histed
March 11, 2010
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"Don't Look For The Coming Crash---It's Already Happened"

A lady I think a lot of surprised me today.  She said, "Normally, I don't agree with government involvement, but without these federal bailouts, we would have had a crash."
 
Would have HAD a crash?  We have been in an ONGOING CRASH for years.
 
There are many misconceptions about economic decline and ruin.  A popular theory is that a crash happens in a day or two.  October, 29, 1929 is pegged as the great "stock market" crash.  Actually, the crash was ongoing, as our crash is today.  Florida had the real estate crash in the mid 1920s. Farmers were having problems before October of 1929.  The Titanic did not sink in a few minutes.  Its sinking was ongoing.
  
As cancer, or heart disease, or death, an economic collapse does not occur instantly.  It is an accumulative process.
  
A county preacher once told me, "What we do daily is our future."  Habit, as in decades of deficits, over-spending, increasing debt....is tomorrow's disease and death.

LOOK ALL OVER THE COUNTRY--THE BOMB ALREADY HIT
  
I herald from one of the The United States' once most prolific manufacturing areas, Ohio.  It is a disaster area economically, and it did not take place in a day or two.
  
It has been an ongoing decline.  In my area, we lost tens of thousands of manufacturing jobs.  Household names are done and gone.  Tappan appliances, Ohio Brass Mansfield Tire and Rubber, North Electric, Galion Road Machinery, Burch Corporation, Schill Stoves, D and M Plastics, Geauga Plastics, Shelby Business Forms, Shelby Gum, Shelby Bicycle, General Motors stamping plant at Mansfield, Erie Lackawanna whose tracks were torn up....gone, gone, gone.

                            CRASHES USUALLY ARE OVER A LONG TIME
 
Detroit, Michigan, where my father is from and my grandpa once ran a restaurant, appears as a third world poverty country in many neighborhoods.  A friend in Florida told me the other day that the house his wife inherited from her parents....they just sold to the City for one dollar.  They could not rent it, they could not keep it fixed up without the vandals coming in and undoing everything they would do.  Someone came in and stole all of the old copper pipes.
 
When we think of a crash, many of us think of a one or two day affair when everything goes down to zero.
 
In fact, it almost seems perverse that these crashes as the United States has had are obscured by our very belief that a crash needs to sound like a bomb going off and everything is taken out in seconds.
 
The worst kind of punishment is that that is prolonged...that takes place over a long period of time...a slow, torture when many people don't understand what has happened.

THE LATE JEROME SMITH
  

I had someone mock the memory of the late Jerome Smith, author of "The Coming Currency Collapse and What You can Do About It."  His book has been out some 30 years, and you can still buy copies on the internet.
 
Was Mr. Smith all wet?  I argue that Mr. Smith was correct.
 
You may do the same thing I did to test Mr. Smith's thesis.  I went to our local newspaper archives and thumbed back to 1979, about the time his first printing came out.
 
Granted, the unbacked Federal Reserve note did not crash down to nothing, but it has come close.  Want proof?
 
I checked newspaper ads in my local paper from 1979. Are you ready for this?
---Clancy's Restaurant, Chicken dinner, two pieces, two sides and drink, $1.59.
---Ford Pinto, deluxe hatchback, $4,400, about what just a "rebate" is on a new car today.
---Local pizza restaurant, all you can eat Friday night pizza, including salad bar, $2.29.
---One acre lot, Bucyrus Industrial Park, $4,000.
---McDonald's, change from your dollar, hamburger, fries, cola, 99 cents.
---L-K Restaurant, all you can eat Lake Erie perch on Fridays, plus trimmings, $1.79.
---Ponderosa restauant, Tuesday night special, steak, roll, baked potato, salad, 99 cents.
---Arthur Treachers, Tuesday special, two pieces fish, fries, slaw, drink, $1.19.
---Men's shirts, new, $4.99.
---For rent, 3 bedroom house, one acre lot, extras, $195 a month.
---Food Town grocery was advertising fresh turkeys, 29 cents a pound, six soft drinks for 59 cents, bologna for 39 cents a pound and bread at 29 cents and hamburger at 49 cents.
---Oh, by the way, the price of the daily newspaper?  15 cents.
  
Yes, friends, despite all of the propaganda in the Wall Street-owned major media, the crash hit a long time ago.  The dollar crashed a long time ago.  Those hit the worst are those on fixed and limited incomes.
 
They can't print "funny money" as the Federal Reserve Bank to bail themselves out.
 
To Jerome Smith, wherever you are, you were a lot more on target than some people believe.
 
The collapse of the unbacked paper Federal Reserve note is an ongoing process, and it is still going on.

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