100 Years Later, The Federal Reserve Has Failed At Everything It's Tried

Forbes reports:

Under the Fed’s supervision, boom and bust cycles have continued. Three of them have been severe: the Great Depression, the stagflationary period of 1974-82, and the current “Great Recession.” Bank failures have occurred in alarmingly high numbers. Depending on what measurements are used, the dollar has lost between 95 and 98 percent of its purchasing power. (Amazingly, the Fed’s official position today is that inflation is not high enough, so the erosion of the dollar continues as a matter of policy.)

To understand how the Fed is part of the "progressive package" watch the video down below. We assure you: Paul Krugman hopes you don't watch the video.