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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
June 12, 2014
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TURMOIL AHEAD

By John Williams

Traditionally, it takes two back-to-back quarterly contractions to make a recession.  Consensus expectations are that second-quarter 2014 GDP growth will soar, versus the first-quarter downturn.  Yet, underlying weak economic fundamentals should lead to a headline second-quarter contraction in the initial estimate due on July 30th.  
Such should confirm a “renewed” recession, a general circumstance that likely will gain recognition in the global financial markets before the July 30th releases.  That circumstance, in confluence with other fundamental fiscal, monetary, domestic and global political issues, should place mounting and massive selling pressure on the U.S. dollar and potentially could resurrect elements of the 2008 panic.

The fundamental issues threatening the dollar, again, include but are not limited to: the U.S. government not addressing its long-term solvency issues; monetary malfeasance by the Federal Reserve seeking to provide liquidity to a troubled banking system, and to the U.S. Treasury, with a current pace of 70% monetization of effective net issuance of public federal debt; a mounting domestic and global crisis of confidence in a dysfunctional U.S. government; mounting global political pressures contrary to U.S. interests; and a severely damaged U.S. economy, which never recovered post-2008 and is turning down anew (including a widening trade deficit).