Part III - Defending the Government by Misunderstanding Economic Fundamentals

Part II - Defending the Government by Misrepresenting the Facts

PART I - President Clinton's Role in Creating the Housing Bubble - Precursor to Crisis

By closing the gold window, President Nixon sowed the wind; hundreds of millions of hard-working Americans would then be forced to reap the resulting inflationary whirlwind.  While Nixon bears the ultimate responsibility for severing the dollar's last tenuous link with gold, it is only fair to mention that August 15, 1971 was merely the final stop on a road paved with appalling economic id

Although it is rarely discussed today, August 15, 1971 was the date America came to her moral, cultural and economic crossroads.  Unfortunately - and with enormous negative consequences for the future - President Nixon, with the full-throated endorsement of the political and media establishments , took America down the wrong path.