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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
August 25, 2016
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A NATION ON THE BRINK OF RUIN

By David Stockman

The very foundation of American economic life is under attack. What remained of healthy market capitalism is no more. It has been battered by 30 years of madcap money printing at the Fed, a debilitating $50 trillion explosion of public and private debt and the boom-and-bust of serial financial bubbles that drain productivity and efficiency and channel economic resources to speculators and wasteful malinvestments.

The problem is not free trade or free entry of people. To the contrary, America’s faltering economy has been made in Washington D.C. For more than three decades central banks have flooded the U.S. and world economies with too much free money and Washington politicians have accommodated the beltway lobbyists and racketeers and the country’s huge entitlement constituencies with too much free booty. So the real disease is bad money and towering debts. The actual culprits are the Wall Street/Washington policy elites who have embraced statist solutions which aggrandize their own power and wealth.

What made American great once upon a time, of course, was free markets, fiscal rectitude, sound money, constitutional liberty, non-intervention abroad, minimalist government at home and decentralized political rule. The GOP establishment has failed, the Democrats are clueless and the mainstream media and punditry are overtly hostile. So if the ideals of world peace, capitalist prosperity and constitutional liberty are to survive at all, it’s up to the Donald.