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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
October 02, 2014
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BUT GRANDMOTHER, WHAT BIG TEATH YOU HAVE

By John Williams

Those generally touting the happy ongoing prospects for the U.S. stock market, an economic boom and a shrinking budget deficit, also tend to savage the outlook for precious metals.  Such commentators have short-lived memories, or are trying to sell equities or a political bill of goods. They are about as prescient as Little Red Riding Hood was in admiring her ersatz grandmother’s big teeth.  One of the greatest financial crises of all time is near, if not at hand, and it likely will play out in heavy selling of the U.S. dollar and U.S. equities.  When those living in a U.S. dollar-denominated world feel like they have been pounced upon by the Big Bad Wolf, they might wish that they had been holding physical gold as a hedge against all the U.S. dollar woes and financial turbulence that will be unfolding.

Those terrible teeth were bared, once before, not so long ago, when the U.S. financial system was on the brink of collapse in the late summer of 2008, a collapse made inevitable by all the political and financial-system malfeasance of recent decades.  A day-of-reckoning was at hand.  The U.S. Treasury and the Federal Reserve bought some time in postponing a systemic collapse, but the delayed reckoning is near, once again, and the ability of officials to buy more time is extremely limited.