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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
December 8,2008
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OUR MODERN "MONEY" CHANGERS

IN THE TEMPLE

Many religionists seem to connect only a religious meaning to the Bible story of the money changers in the temple. Some religious scholars like to point out this is one time in which Christ showed visible anger.

History shows most every era, most every generation has had its version of "money changers."

What we are currently seeing in the manipulation of our markets, the "money supply," "interest rates" that are arbitrarily set, is our current version of the "money changers."

Our "temples" today include Wall Street, the federal government, investment banking, some of the commodities exchanges and the list could go on.

Some people act as if this is all a great surprise, how our economy is so manipulated at about every turn. True free markets without some third party interfering just about don't exist anymore.

Many of our "corporate" chiefs and business people now believe that government and regulators are their "partners." Gone are the days when our nation's founders admonished us to fear the coercion of government. It would be hard to find many people supporting true "free enterprise" without any government involvement in a Chamber of Commerce meeting.

The chickens have come home to roost, and the manipulations became just far too gone.

As one famous investor has said, at times like this, you see who has been swimming naked. In other words, you see who has been winging it.

In my city of Lakeland, Florida, one of our leading car leaders is apparently one such man who has been swimming naked. When the so-called "credit crisis" hit, his car dealerships were soon descended upon by state law enforcement officials executing search warrants. This is all public record. Some of his customers began complaining that they were not being paid for their cars they sold; that deposits they had put down on new cars were "lost" and even GMAC sent a team in to check car titles.

It appears this man had a $3 million home in the city; had a second weekend retreat home at the beach worth $1 million and it appears he owed tons of money.

This is what a shutdown in credit can do to a society that had become intoxicated with "borrowing."

A good part of the problem is, we don't have "honest money." We have printing press money and "credit expansion" that is left up to the whims of politicians, international bankers and the government.

Now, with this "crisis" in overdrive, the government and their central bankers' answer is to do more of the same.

Called on are plans for massive "stimulation," something that helped to get us in this mess in the first place.

Spend, spend, spend---it doesn't matter so much what you buy but that you spend to "help the economy." More paper money will be printed, more blips will be added in the computers at the Federal Reserve Bank.

More of the same will get us more of the same.