Investment Rarities Incorporated
History |  Q & A  |  Endorsements  |  Portfolios  | Flatware | Gold Coins  |  Silver Coins  |  Contact |  Home

Products

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.

..Read More »

The Best of Jim Cook Archive

 

Condensed Articles

June 5, 2012

archive print

TEN MINUTES AFTER THE TITANIC
STRUCK THE ICEBERG
By Charles Hugh Smith
(condensed)

We are like passengers on the Titanic ten minutes after its fatal encounter with the iceberg: the idea that the ship will sink is beyond belief.

As we all know, the “unsinkable” Titanic suffered a glancing collision with an iceberg on the night of April 14, 1912.  Ten minutes after the iceberg had opened six of the ship’s 16 watertight compartments, it was not at all apparent that the mighty vessel had been fatally wounded, as there was no evidence of damage topside.  Indeed, some eyewitnesses reported that passengers playfully scattered the ice left on the foredeck by the encounter.

I think this perfectly describes the present.  Our financial system seems “unsinkable,” yet the reliance on debt and financialization has already doomed it, whether we are willing to believe it or not.

Yet few of us are willing to entertain an exit from the belief system that supports the Status Quo.  We are like passengers on the Titanic ten minutes after its fatal encounter with the iceberg: we can’t believe this grand ship could sink, so we do nothing while it is still possible to influence our fate.

The financial system of the United States of America is like the Titanic.  Hubris led many to declare it financially unsinkable even as its fundamental design was riddled with fatal flaws and the human pilots in charge ran it straight into the ice field at top speed.  Ten minutes after the collision, the Titanic’s passengers had 2 hours and 30 minutes before the “unsinkable” ship sank.  How much time we have left is unknown.