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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 17, 2014

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WHEN STOCKS AND BONDS FALL
By Peter Cooper

(condensed)

If the Fed holds its course this autumn then a day of reckoning is coming both for stocks and bonds. For stocks basically the money will run out, the QE lifeline is cut. For bonds higher interest rates are toxic. What is left for investors when stocks, bonds and real estate take a pasting? The giant, debt-fuelled investment bubble pumped up since the global financial crisis by the central banks is like any other bubble in history. It will have to be purged.

The foolish thing to imagine is that the central bankers will be in charge during this unwinding process. They can try to help banks here and there but the lesson of history is that when the markets take over then the central bankers are exposed as manipulative charlatans with no real power. Central banks always look more and more omnipotent until they suddenly are not. The consensus is utterly convinced these guys can walk on water until they fall in and drown.

Holding U.S. Treasuries or stocks that are both in huge valuation bubbles right now will be seen to be sheer lunacy with the benefit of hindsight. Never before will so much be lost by so many in this correction.