In response to:

Prophets and Losses

Harrison Bergeron Wrote: Feb 05, 2013 9:55 AM
The point is to remove the manipulation by moving it out of human hands. Yes, one alternative would be to revert to barter. I doubt that it would support a modern economy capable of producing the computer on which you typed that thought, though. Somebody would eventually re-invent money, and unless it accurately represented a true share of the sum of all things available to purchase, we would be right back where we are today.
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...