In response to:

Prophets and Losses

Al1997 Wrote: Feb 05, 2013 6:22 PM
There should be no direct taxation on any entity. All taxes should be excise, that would keep thrift in mind at all times and would also help to level the size of all government. Not to mention that a citizen would actually own property and not be leasing it all from some governmental body. and no our Constitution did not allow us to come the this current situation. We are where we are because of the crooks in our govenment stacked the deck and made decisions against the Constitution. Just as right now we have a bus load of Czars in government who are not allowed to exist according to the Constitution. We also have ObamCare which is not allowed by the Constitution. Check out the 10th Amendment...
Now that the federal government is playing an ever larger role in the economy, a look at Washington's track record seems to be long overdue.

The recent release of the Federal Reserve Board's transcripts of its deliberations back in 2007 shows that their economic prophecies were way off. How much faith should we put in their prophecies today -- or the policies based on those prophecies?

Even after the housing market began its collapse in 2006, Federal Reserve Chairman Ben Bernanke said in 2007, "The impact on the broader economy and financial markets of the problems in the subprime market seems likely to...