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Jim Cook



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

Commentary Of The Month
March 9, 2015
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John Williams Interview

“I wish I could say things are booming, but indeed they are not. The consumer is in terrible liquidity straights. The economy has not recovered. In the fourth quarter, the Christmas shopping season was the worst since the economic collapse in 2008.  January is off to an even worse start.  It looks like the first quarter is going to contract and that is very bad news. Retail sales and industrial production are going to be weak, and the housing numbers have never recovered. Any measure you look at is still well below coming into the recession. That’s tied to the consumer’s liquidity…

“What’s been at work here is the misperception that the U.S. economy is recovering, and the Fed doesn’t need to provide any more quantitative easing (money printing).  The dollar has strengthened. Our major trading partners moved towards quantitative easing because of the recessions they have.  Well, guess what?  We have the same problems as our trading partners.  We are still in recession.  They just do the numbers a little more honestly.  We’re not done with quantitate easing. As it becomes clear that the U.S. economy is still in recession, or a renewed recession, the speculation will come back that the Fed has to renew its quantitative easing. That will hit the dollar hard.  As the dollar sells off, you are going to find oil prices spiking, inflation spiking and eventually the rest of the world will dump the dollar…

“The underlying fundamentals for the dollar just could not be worse.  Fiscal conditions have not improved.  Deficit numbers last year were small according to headline numbers, but if you look at it with generally accepted accounting principles, it was still $6 trillion per year…

“The first stage of hyperinflation will be a reversal of the dollar.  We are not going to have hyperinflation until you see a massive decline of the dollar.  That will start the process.  You will see a flight from the dollar, and the Fed is going to have to absorb them.  That will be the trigger for the money supply growth within the system which will exacerbate the inflationary problem and the deficit problem and the funding problems…

“People say everything is fine again – nonsense.  You had a panic in 2008. The system was on the brink of collapse.  The Fed and the federal government did everything in their power to prevent it.  They pushed things into the future, but they didn’t do anything of substance to address the underlying problems.  A panic can break at any time, and you just don’t have the options you had in 2008 for buying time into the future. The odds are high you are going to see the beginnings of hyperinflation this year.”