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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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October 22, 2012

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IMMORAL MONEY
By Richard Russell

I may work my whole life and make an after-tax total of five million dollars.  The Fed, with nobody working, can “create” 100 billion dollars out of thin air in a matter of a few seconds.  To me, this is absolutely immoral.  Furthermore, the Fed wants inflation to continue at 2% a year.  Again, I maintain that this is immoral.  It’s wiping out the middle class over time.  I have a GI life insurance policy that was worth $10,000 when I took it out in 1945.  At that time, the policy looked like big money.  I scrimped and saved to buy and pay off that policy.  What’s the policy worth today, after years of compounded 2% inflation?  Not much – talk about legal robbery!

A few American generations had a party after World War II.  They borrowed and lived on a diet of steady inflation for over fifty years – until the present.  Almost everything they did was inflated and subsidized by the government.  Two or three generations voted themselves the good, inflated, subsidized life – and did they worry?  Hell no, their kids and grandkids could pay for the fun later.

Now, payback time has come for their kids and grandkids.  And the nation is close to suffering a nervous, debt-filled breakdown.  How will we ever pay off the debts the postwar generations ran up?  Hey, no problem, we’ll just print the money.

My take on this.  The fiat money we print is immoral money.  Nobody worked for it.  I’m saying that the nation can’t bail itself out with immoral money.  It won’t work.  The Founding Fathers warned against fiat money, money that was backed by nothing, money that nobody worked for.  If the Founding Fathers could see what has happened to their republic, they would roll over in their graves.  “We give you a republic – if you can keep it,” said Ben Franklin