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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 30, 2016
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BLINDSIDED

By Michael Pento

The Fed is seeking robust growth in the context of low inflation. But what is becoming manifest is the exact opposite. The Fed is missing its targets on both fronts – inflation is rising while at the same time growth is slowing. What will Janet Yellen do if faced with a recession that comes along with inflation? Both the Fed and Wall Street are totally unprepared for this risk.

The government’s effort to engender viable growth through debt and inflation is virtually guaranteed to fail. It has tried to repair an asset bubble and debt-saturated economy by increasing both conditions. This is why a collapse worse than 2008 is inevitable. Bubbles never pop with impunity no matter how much the FOMC would like investors to believe that this time is different.  Therefore, the most salient question for investors to answer is: Will the economy suffer through a 70’s-style stagflation before the markets and economy fall into a steep and unprecedented contraction, or will it simply implode into the inevitable deflationary collapse straightaway? My guess is that it will be the latter.