In response to:

Prophets and Losses

Gazinya Wrote: Feb 05, 2013 6:59 PM
The first order passed before The Obama-care monster was even begun was that Congress and the President would be exempt from it's charity. That freed them up to be more generous to the suffering and less likely to be tempted to 'protect' their own greed. Ergo, they HAD to exempt themselves so as not to deminish all the wonderful things that govermnet 'can do TO you.' What else could have made them 'seperate' themselves from all it's benefits? Like the Fed Reserve, it's for the children.
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...