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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
April 28, 2017
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TRUMPS BIGGEST ENEMY IS THE FED

Michael Pento

Right on the heels of Donald Trump’s stunning election victory, Democrats began to diligently work on undermining his presidency. That should surprise no one. It’s just par for the course in partisan D.C. However, what appears to be downright striking is that the Keynesian elites may have found a new ally in their plan to derail the new President, the U.S. Federal Reserve.

First, it’s important to understand that the Fed is populated by a group of big-government tax-and-spend liberal academics who operate under the guise of an apolitical body. For the past eight years, they have diligently kept the monetary wheels well-greased to prop up the flat-lining economy.

However, since the election the Fed has done a complete about-face on rate hikes and is now in favor of a relatively aggressive increase in its Fed Funds Rate. Keep in mind a rate-hiking cycle is no small threat. The Federal Reserve has the tools to bring an economy to its knees and has done so throughout its history, first creating asset bubbles and then blowing them up along with the entire economy.

If it’s not booming growth, and it’s not run-away inflation and it’s not the sudden appearance of asset bubbles then what is it that has caused the Fed to finally get going on interest rate hikes?  The Fed is comprised of a group of Keynesian liberals that have suddenly found religion with its monetary policy because it is no longer trying to accommodate a Democrat in the White House.