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AMERICAN DOWNFALL



Posted: 07/07/08

AMERICAN DOWNFALL
By Jim Cook
of Investment Rarities

Without inflating, social programs can't expand. Thus the creation of new money becomes an indispensable ingredient to the goals of populist politicians. Easy money aids the spread of the liberal agenda. Inflating and big government go hand in hand – you can't have one without the other.

We learned in the last century that 100% socialism (collectivism) was an economic and social disaster. Russia and China had to abandon this failed experiment. Nevertheless, in America, Europe and South America varying degrees of socialism persist and expand. For the past 80 years the U.S. has steadily increased the influence of socialism (the liberal agenda) and enabled it to grow and flourish.

Socialism and big government are birds of a feather. It takes high taxes to feed the government bureaucracy and increase its inroads. When all taxes are considered, government takes about half of what we earn. Thus, we can argue that the nation is 50% socialistic. Half socialistic means our country is doing half as good as it otherwise would.

For over thirty years I've been warning about the consequences of socialistic schemes like runaway government spending, unsound money, inflating, entitlements, subsidies, trade and budget deficits, high taxes and the cancerous nature of a monolithic state. For the first time, the impact of this government interventionism has led to a series of watershed events that appear terminal for the golden age that we have lived through since World War II. Today's events could easily be the beginning of the decline and fall of a great nation. You will know this to be true if we experience a continuous, never-ending series of crises and emergencies. Most of these crises will be economic in nature, but there will also be others, mostly social.

You can't have big government without big problems. For example, the energy crisis starts with a weak dollar. The government has lost any semblance of fiscal and monetary sanity. Jim Sinclair writes, "The Fed cannot continue issuing U.S. treasuries in exchange for something worse than junk and becoming the last counter-party to the world. But they will…" The Fed is creating too much money and credit and the dollar is losing value. This translates into higher prices and inflation, especially in energy. To make matters worse, the government put the kibosh on drilling for oil where the oil is, derailed refinery construction and terminated nuclear plants. Throwing taxpayer money at alternative energy has been tried and found wanting twice before.

The housing crisis evolved from the aforementioned loose money policies. The direct cause was artificially low interest rates. Government mortgage guarantees and regulations that forced lenders to make loans in bad neighborhoods to people with impossible credit histories are prime examples of ruinous socialist schemes. Our congress legislates and spends recklessly and then papers it over with new money. The interest on our national debt is $500 billion alone. That eats up all the taxes collected from individual taxpayers. (The war costs about $150 billion a year.) The spreading credit problems, the excessive leverage on Wall Street and the examples of outlandish executive compensation are linked to easy money. The erosion of a nation's currency foretells the decline of that nation.

Last week a group of 17 teenage girls were in the news in Massachusetts because they made a pact in high school to get pregnant. Does anybody think that these girls would have made this life-altering decision if the government wasn't going to support them? A huge chunk of our tax dollars go to subsidize a growing percentage of our populace whose behavior is anti-social, irresponsible and bizarre. The impact of this swelling class of flawed citizens on the future should be a matter of the gravest concern. But it's neglected because the socialists (liberals) refuse to see the consequences of their damaging government social programs.

Somehow, the left has escaped the socialist label in this country. We call them progressives. It certainly improves their chances at election time. What makes them so damaging is that they tend to treat the mess created by government subsidies and social programs with even more government programs. Thus, we slide into mediocrity and crisis. The problems created by government confront us every day in the news. We are currently harvesting the first pervasive bounty of socialism in America. We are replacing the unsurpassed efficiency of capitalism and the market economy with the half-baked whims of populists and economic know-nothings. Socialism opens Pandora's box, unleashes the plagues of Egypt and orders up new holocausts. Economic ruin may be the least of our worries. Since all we hear from the politicians are more socialistic schemes, a multitude of worsening crises must soon be forthcoming.

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READER FEEDBACK


re: I'm with "So Wrong"
Posted On: 07/11/08 08:51:42 PM Age 31, IA
Could you explain why so many Canadians come to the US for medical treatment? Regarding N. Europe, I've heard there are fewer liabilities (Meaning families are extremely small, in Christian terms.) and they euthenize patients before they need longterm care, and kill babies who aren't born strong enough. That's why it seems to work so smoothly - make sure no one needs it. Don't compare Zoorope with the US.



PULL YOUR OWN TOOTH WITH A PAIR OF PLIERS - OUCH
Posted On: 07/10/08 01:45:14 PM Age 64, OH
Scandinavia, was it not Sweden that put a Christian pastor in prison for reading scripture to his church, because the government disagreed with that scripture. Would you trade riches for the Truth. I hear some in England are pulling their own teeth with a pair of pliers because their government health care, that Hillary wanted to copy, is so slow as to be non existent. Some have waited 20 years to get a tooth pulled. Lou

socialist europe
Posted On: 07/10/08 12:48:03 PM Age 48, SC
The Europeans do love their benefits. But it is unsustainable. The governments cannot continue this welfare state for much longer. Besides, the average Eur. citizen has been losing his freedoms so slowly for so long, he doesn't even realize how little he has!



I'm with "So Wrong"
Posted On: 07/09/08 07:40:02 PM Age 60, CANADA
If this nonsense was true, why is it that the northern European countries have such a high quality of life and low inflation, given that they have extensive social services and high levels of taxation? If you think the average Scandinavian would like to give up his six week vacations and free health care for the current American economic situation, you're a few cards short of a full deck.

Willfull ignorance?
Posted On: 07/09/08 12:27:02 PM Age 47, MO
Sir: There is no such thing as Socialism because we ALL are ruled by something; if not internal, then it must be external. Therefore, "socialistic" countries are actually dictatorships of one sort or another. America is currently ruled by the tyrany of the Congress and the Judiciary, but it is only by apathy and ignorance of the people. Your post is but another example of why this country will eventually fail. John



Very well spoken!
Posted On: 07/09/08 08:10:43 AM Age 61, MO
Thank you. George Cancilla

Jim Cook is so right
Posted On: 07/08/08 11:12:05 PM Age 50, TN
If elected Obama will be the most socialist president ever. The Bible commands, "Thou shall not steal." Socialism violates this commandment by taking away citizens' right to the ownership, control and use of private property. Peter makes a statement to Ananias endoring the right to private property. Peter said, The property was yours to sell or not, as you wished. And after selling it, it was yours to decide how much to give." Supports of socialism should consider these wise words, "You cannot bring about prosperity by discouraging thrift. You cannot strengthen the weak by weaking the strong. You cannot help the wage earner by pulling down the wage payer. You cannot further the brotherhood of man by encouraging class hatred. You cannot keep out of trouble by spending more than you earn. You cannot build character and courage by taking away man's initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves." Few people are trying to move to socialist counties like Cuba. While more people want to move to America than any other country. America's free enterprise system is the best economic system because it's most supportive of individual freedom, and most in accord with human nature. America's Christian foundations of loving one's neighbor and working hard, combined with its free enterprise system have provided liberty, prosperity and opportunity unprecedented in world history!



WHO WOULD THE UNBORN SUPPORT
Posted On: 07/08/08 06:03:10 PM Age 64, OH
Do you seriously think these 17 girls would have made a pact to get pregnant if the government did not pay their medical expenses for the wrong they did. If these 17 girls had to face the pain of receiving no pain killers and then to have to face feeding these babies themselves instead of forcing us to pay for their mistake, do you seriously think they would still have made the pact. Are you uninformed enough to not know that the fed is devaluing our dollar. The world is going to want more and more dollars to buy a gallon of gas because of their policy. Many countries in the Soviet Union were NOT destroyed in WW2 and communism still failed in these countries. If you were a unborn baby I bet you would not support Obama and his failed socialist policies. But the unborn and even the newly born can not vote. But their mothers who want to kill these babies can vote and that is exactly why Obama supports the murder of the unborn even after they are partially born. Obama says he supports the poor, who is poorer than the unborn. Obama says he is for change, but Obama wants to just continue the killing of these poor and innocent babies. Watch the silent scream and then tell me it is OK to kill these poor babies. Lou

Scoialism killed over !)) MIILION PEOPLE
Posted On: 07/08/08 03:12:57 PM Age 45, NJ
DON'T be so NAIVE! Socialism is by FAR a worse scourge on society than AIDS! The ONLY truly free society is a representative republic with the citizenry armed to the TEETH! Only when politicians fear the public will they ever enact fair and balanced legislation. The FIRST MOVE of EVERY SINGLE Dictator has ALWAYS BEEN (and history proves this out) to disarm the public, abscond with the judiciary, take over education and pervert the media. Does this sound like Nazi Germany? Yes! And why it sounds familiar is that is EXACTLY what is happening in the Unites States of America! WAKE UP!!!



Two wrongs don't make a right
Posted On: 07/08/08 07:37:31 AM Age 61, MO
When Bill Clinton was elected president, the U.S. producing economy had been devastated by the shutdown of factories and the export of jobs. The work of wrecking the economy was completed by Clinton's embrace of NAFTA, which has largely eliminated family farming in favor of financier controlled agribusiness in the U.S., Canada, and Mexico. Deregulation of the financial industry began in earnest during the Reagan years from 1981-89 and accelerated under Clinton. Clinton repealed the Glass Steagal Act that kept a separation between commercial and investment banks. This action has led to fraud and corruption on a world wide scale. By this time, the U.S. economy was being kept afloat only through financial bubbles that allowed the purchase of consumer goods to take place through more family and household debt. We had the merger acquisition bubble of the 1980s, followed by the George H.W. Bush recession which led to Clinton's election in 1992. During the 1990s we had the dot.com bubble fueled by foreign investment. Capital gains taxes on stock price inflation and counting trust funds, such as Social Security, as budgetary assets allowed Clinton to balance the federal budget the last three years of his presidency. George Cancilla

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