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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

 
Commentary Of The Month
March 25, 2016
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DOWNTURN

By John Williams

There is no evidence of an economic rebound or recovery. Headline economic reporting is about to offer a new round of downside “surprises,” in the week ahead.  That should re-intensify market expectations towards a “new” recession.

Expectations were for regular rate hikes, with the next one possibly as early as March, based on the ongoing strength and recovery in the U.S. economy.  Yet, the economy never recovered, and it is not likely to rebound in the foreseeable future.  As faltering business activity increasingly stresses the still-unstable banking system, as the budget deficit explodes well beyond current expectations, the Fed will need to keep pumping liquidity into the banking system as well as into the U.S. Treasury.  Quantitative easing is not about to disappear.

When the Federal Reserve and the U.S. Treasury acted to forestall the collapse of the banking system in the Panic of 2008, the decision was to save the system at any cost.  Yet, the actions taken were stopgap only; underlying issues that had led to the crisis generally were not addressed.  Still living under the weight and fear of systemic failure, the Fed will move again, as needed, to save the system.  The ultimate cost eventually will be in the total debasement of the U.S. dollar.