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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

October 1, 2012

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U.S. DEBT DEFAULT
By Graham Summers

The U.S. has begun to show signs of entering a debt spiral: a situation in which more and more debt needs to be issued at the same time that lenders are unwilling to lend to the U.S. for any lengthy period of time (greater than three years).

All of this is happening at a time when the U.S. must roll over trillions in old debt while also issuing an additional $150 billion in debt per month to finance its current deficit.  In the next five years alone the U.S. will have 73 days in which it needs to roll over $20 plus billion in debt and 46 days in which it needs to roll over $30 plus billion.

Again, we are in a debt spiral.  And the U.S. will eventually default on its debt obligations.