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Prophets and Losses

GodsLaws Wrote: Feb 05, 2013 6:54 PM
"The way to crush the bourgeoisie [upper middle-class] is to grind them between the millstones of taxation and inflation." -- Vladimir Lenin The 16th Amendment provides the progressive taxation. The Federal Reserve provides the manufactured inflation (and limitless supplies of cash to the political class to buy votes and cooperation). The Cold War never ended. And America is losing. By the time Reagan called for the demolition of the Berlin Wall, there were finally enough leftists in key positions of power and influence in America (government, media, finance, military, academia) to perfect the subversion of America from within. The Fed is the rotten core at the center of the Collectivist cabal. End the Fed.
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...