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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

 

Condensed Articles

January 30, 2017

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SMELLING SOMETHING ON WALL STREET

By David Stockman

(condensed)

Whatever small gains in reported corporate earnings that might result from the eventual Trump tax reforms is certain to be more than wiped out by the next cyclical downturn in the U.S. economy; and at 92 months of age, this so-called cycle is more than long in the tooth.

Corporate tax collections were down by 9% and excise collections by 3%. Those are signs of faltering business activity that is likely to weaken even further as the vaunted Trump stimulus morphs into the fiscal bloodbath that lies directly ahead when the current debt ceiling holiday expires on March 15, and the GOP Congress is required to vote to raise the debt ceiling to upwards of $21.5 trillion just to get through the next year. That’s not going to happen. What will happen is an extended period of legislative mayhem and multiple threats of government shutdowns and the potential need for the U.S. Treasury to actually prioritize and allocate in-coming revenues absent new borrowing authority. Needless to say, that will cause pandemonium in the casino, and trigger another round of panicked dumping of excess inventory and labor in the C-suites of corporate America.