In response to:

Our Government-Created Financial Crisis

Corbett_ Wrote: Dec 12, 2012 11:16 AM
We stopped being a nation of wealth creators and became a nation of consumers shortly after Nixon took us off the gold standard. It makes no sense to save and invest when the value of your currency is decreasing at a rapid rate. As Dr. Sowell points out in his article today, the dollar has lost 80% of its value since 1960. LBJ's inflation forced Nixon to take us off the gold standard and then all brakes were off.
samplin Wrote: Dec 12, 2012 8:20 PM
When I was a new bride 45 years ago, ground chuck was 69 cents per pound. Today it is 3.59 dollars per pound. That is an inflation rate of 520 per cent.

Gasoline back then was about 33 cents per gallon I saw it today for 2.87 that's 870 percent higher than in 1967.

Suppose you saw a building on fire. Would you seek counsel from the arsonist who set it ablaze for advice on how to put it out? You say, "Williams, you'd have to be a lunatic to do that!" But that's precisely what we've done: turned to the people who created our fiscal crisis to fix it. I have never read a better account of our doing just that than in John A. Allison's new book, "The Financial Crisis and the Free Market Cure."

Allison is the former CEO of Branch Banking and Trust, the nation's 10th largest bank. He assembles...