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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
November 18,2008
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"FREE MONEY FOR ALL;" LET'S

TRY "TRICKLE UP" POLICY

By WILLIAM HISTED

We've all heard of the "trickle down" economics via the money printing presses. Since that has not worked, it seems our central bankers of the world and most of the governments have decided they had it wrong and the answer is "trickle up" economics.

They are so desperate to keep a failing paper and fancy certificate system going that they hope if they can now bail out everyone, enough will "trickle up" to keep the international bankers and Wall Street solvent.

There seemed to be little, if any concern, in past years as millions of U.S. families filed for bankruptcy or faced losing their homes to foreclosure. This was the "trickle down" version of the paper game.

What Wall Street, the central bankers and the central governments of the world didn't figure out is that when not enough was "trickling down," there would not be much of anything left to "trickle back up."

Now, in desperation, the money magicians think the way they can get money is to wash the world in more paper money so it will perculate back up to them. Trickle down did not work; let's try trickle up.

I guess it now is obvious to most that the real economic powerhouse is not the printing presses that have inflated "credit" and the so-called "money supply." Some real people, in some real places, have to produce something with some "value added" benefit to them so they can create real wealth so they can buy things to help "trickle up" to the lords and masters of our present economy. It was explained to me some time back that the central bankers can print up all the Federal Reserve notes they want, and the Treasury can pass off all of the treasury bills it wants, but at some point, someone in the real world has to create something other than more paper money.

We've lost millions of our "value added jobs." An old time radio engineer told me something like this, "We won't get anywhere just doing each other's laundry or serving each other hamburgers. What made our economy great was not tricks and' mirrors in Washington and Wall Street, but where you took maybe 15 cents worth a wire, a 25 cent transister, a plastic box and put a dial on it and sold it for $25 as a radio." Same with watches, TV sets, computers, and even shoes and garments.

But our "value added" manufacturing sector has been decimated.

We were told for the last 20 years that our future would be in "service jobs," such as in paper shuffling be it in government, banking or the "private sector." Well, that hasn't worked too well, either. To be fair, today there is not so much paper shuffling as simply stroking keyes on a computer keyboard to create more "money" and "credit."

So now, in a virtual panic, the Federal Reserve Bank, the Congress of the United States that was supposed to coin our money as per the Constitution, are now busy with their new "trickle up" economic philosophy.

As trillions of dollars in "value" (which often really wasn't there to begin with) was washed away in a few days, do you think the world's paper and computer blip currencies could get wiped out in days or even hours?

And now this loss, some of it imaginary, must be "righted" and everyone be made whole. After all, what good is government if it can't print up the losses people had in their minds? Why should anyone suffer any kind of loss, real or imagined, as long as we have good, compassionate and caring politicians and' government? Lost some "money?" Have the central bankers and government print you up some more of it.

I figure I need some money printed up for me as I had a "big loss" due to the crash. Let me explain briefly.

I have about $70,000 in a business building I bought 20 years ago. A year ago, another businessman in my town offered me $300,000 for it. But he could not get finacing. So I am out $230,000. Where's my money? It never really existed. This is why many people believe they have "lost" money they never had. Maybe a home somewhat similar to yours three streets over did sell for $275,000 two years ago. So you figure your home was also "worth" that. At least in your mind. Or, someone sold "stock" at the market high months ago. You figure your stock should bring you that amount, too.

Many of our "losses" were imaginary, but we want the government to pay us back our losses. If the Federal Reserve needs to buy more presses to print more paper money with, so be it!

They are, and will be, printing paper money and paper documents faster than ever before in our history as our deficits and debt reach the largest in the history of the world.

My distinct feeling is that this new "trickle up" economics will not be any moresuccessful than the "trickle down" economic concept has been.