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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

June 30, 2015

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BUBBLE BLIND
By Michael Pento

(condensed)

Even though the former Chairman of the Federal Reserve is now getting paid privately for his economic and market prognostications, he is still unable to identify or acknowledge the monumental bubbles that central banks have engineered. Mr. Bernanke recently tried to assure investors that rate hikes would be good news for the U.S. economy. He was “optimistic” there would not be a hard landing in China.

Mr. Bernanke completely missed the real estate-related credit bubble and the effects of its collapse upon the global economy. And now he has again become blind to the bubbles in China, Japan and the United States. The bottom line is that central bankers both past and present have a vested interest in convincing investors that the strategies of zero percent interest rates and quantitative easing have been a success. But the sad truth is these policies have led to an additional $60 trillion of new debt piled onto the global economy since the end of the Great Recession; causing the re-emergence of colossal real estate, bond and equity bubbles worldwide. Mr. Bernanke may still be blind to these bubbles created by himself and current central bankers…but all investors need do to see them is open their eyes.