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Prophets and Losses

Texas Chris Wrote: Feb 05, 2013 9:31 AM
Nothing that increases in price is included in the CPI. But price things in gold (or what we like to call Historic Money), and you'll see the inflation. Example: Dow averaged about $10,600 in 2000, while gold was $279. DOW priced in gold=37.99oz. Dow is now at $14,000, with gold at $1,680. DOW priced in gold=8.3oz. That, folks, is inflation.
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...