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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
December 10, 2015
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BAD DATA

By John Rubino

Brutal news is pouring in from pretty much everywhere. U.S. retail sales are flat and wholesale prices are falling. Big retail chains are missing on earnings and seeing their shares plunge. Chinese nonperforming loans are soaring while imports, car sales and steel production are way down. Oil is flirting with multi-year lows as tankers wander the ocean with nowhere to offload their crude. Other commodities like aluminum and copper are back at 2009 levels and still falling.

The world, in short, is rolling over. Debt monetization on the scale so far attempted has failed to stop the implosion of tens of trillions of dollars of bad paper and growth has stalled. And none of this is a surprise. It’s just what you get when you put monetary printing presses in the hands of governments and/or big banks. It’s time for us all to go back and read Ludwig von Mises: “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”