Investment Rarities Incorporated
History |  Q & A  |  Endorsements  |  Portfolios  | Flatware | Gold Coins  |  Silver Coins  |  Contact |  Home

Products

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.

..Read More »

The Best of Jim Cook Archive

 
Best of William Histed
November 17, 2010
archive print

Some years ago, as a young newspaper reporter who still believed in "government action," to solve the ills of society, I was asked to interview the author and editorialist, the late Robert LeFevre.  I told him how I thought just by electing "conservative Republicans" to office, we would reverse the economic damage done to us by the "big spending Democrats."  Boy, was I naive.

 "Young man," he told me. "I won't be here in 30 years, but I will tell you that makes about as much difference as being baked alive in a 450 degree oven, or a 350 degree oven."   "In short," he added, "The fatal blows have already been inflicted...we just don't know it yet."

 "What do you mean?" I insisted. Now this was around 1980, exactly about 30 years ago."  "We have a nation on so many entitlements, subsidies, grants and government loans, it is only a matter of time until we realize we are broke."
  
I wish Mr. LeFevre could have seen the expansion of government and the money supply since then!
                      ALL AROUND YOUR TOWN AND MINE

 I just came back in from my evening walk.  As I walked in my part of the City, about everything I looked at tonight has government involvement and cost.  Many of the homes I walked past are being financed, directly or indirectly, by the federal government with monopoly money issued by the Federal Reserve Bank whose worth is seriously being questioned around the world today.

As I walked past the local school, I thought of all of the federal dictates, federal court rulings, and federal subsidies down to meals served in the school cafeteria that the taxpayers are stuck paying for.

 A police car rolled by.  I thought of dozens of federal "grants" our local police department has applied for received, down to buying equipment for the car.

 Past the fire station, the same thing.  Many federal "grants" have gone to the fire department for equipment in some cases that is hardly ever used.  As I watched the cars go past me, saw many drivers who made a conscious decision to buy cars with foreign names, a product of Washington's trade policies.

As I walked past children playing in yards as the sun was going down, I wondered how many rules and arbitrary decisions out of Washington will impact their lives.  One home I walked past had a sign in the window indicating proud parents of a U.S. serviceman lives there.  I wondered if the son, or daughter, was serving in Iraq or Afghanistan, was that have cost a reported $3 trillion to date, all in funny money created out of thin air.  This does not include the most important cost---lives lost in two wars a small elite group in Washington decided others needed to fight and pay for. 
In some driveways, I noticed bumper stickers on some cars noting a "veteran" was the owner.  Many such persons are getting federal pensions and benefits.  I could only venture a guess how many people in the homes I walked past tonight are employees of the federal, state, county or city government. Not that this makes them "bad" people, but there are literally multi millions of government employees we are paying salaries to and benefits.  Many states are in over their heads with public employee retirement promises.

As LeFevre told me years ago, it's hard to get the horse back in the barn after someone let it out.
My walk did not take me past the city's airport which has received millions in federal grants in recent years, past the water and sewer plants which also have received multi-millions in federal grants and loans, past the hospital which benefits from many federally-subsidized programs and subsidized patients.

  My walk tonight did not take me past the county jail, which also receives a constant diet of federal money, past the local colleges which receive federal money and which benefit from student federal loans and grants programs.  Out of my sight, up on Interstate 4, my walk did not take me past the multi--billion dollar high speed rail the federal taxpayers are committed to paying 90 percent of in my area alone.

In fact, as I was thinking of how virtually ever aspect of our lives is impacted by the huge central government in Washington, I suddenly remembered I was walking on a city sidewalk that was paid for by a federal CDBG (Community Development Block Grant) from Washington.
 
We may speculate about the "revolt" the media says the voters of this great nation pulled off at the ballot boxes in the November General election.  I don't see it.  The huge, costly central government has become such an everyday accepted force, even with our local city leaders, I
don't see a major sea change coming unless economic laws force changes on us.
 
And I believe major, major changes are coming, but they will be forced on us by the world community that sees the Federal Reserve Bank and Congress have been playing "footsie" under the table for decades to keep the game going. 

 The world is getting tired of our antics, especially when they are being asked to pay for them.
 Today, we are the largest debtor nation in the world and want to blame others for our historic trade deficits with other nations.  We simply thought we were going to get some cheap labor overseas.
 
We have a nation in debt to the world by having plastered the globe with Federal Reserve "funny money."  Soon, we are going to be reminded that the creditors eventually call the tune.