In response to:

Prophets and Losses

HistoryLover Wrote: Feb 06, 2013 3:09 PM
What a radical, left wing, liberal nut case poor WilliamGosset is. He will not find one commentator on this site that agrees with him. Everyone that reads Thomas Sowell's brilliant writings knows he is a genius. Now, click on his name above and it will take you to a page with all his comments. You will see his a true idiot nut case. Also note that he has just recently gone to Town Hall since his first comment is January 29, 2013
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...