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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
May 8, 2014
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BEAR MARKET AHEAD

By Michael Pento

I believe a bear market will ensue from weakening economic growth combined with the attenuation of Fed asset purchases.

  • The S&P 500, Dow and NASDAQ are all expensive when measured by historical norms.
  • The U.S. economy has stopped growing, even as measured by our own government.
  • China’s economy is slowing, as the PBOC tries to restrain the credit growth that created a humongous bubble in fixed assets.
  • Emerging market economies have significantly raised interest rates to defend against plunging currencies, which is dramatically slowing their growth.
  • Japan is a bankrupt nation that is destroying its currency in a quest to create inflation, which is wiping out its middle class.
  •  And, the Fed continues to reduce its support for the asset bubbles it has tried desperately to re-inflate for the last six years.

 

If this is an environment in which investors want to jump into stocks, they can do so without me. Just as was the case in 2008, a little bit of patience should prove to be an incredibly smart decision, and it should also save investors from a lot of pain.