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A Malaise Speech for the Current Time
#45
(07-15-2019, 11:45 AM)Eric the Green Wrote:
(07-15-2019, 09:04 AM)Warren Dew Wrote:
(07-14-2019, 08:57 AM)David Horn Wrote:
(07-12-2019, 08:00 PM)Hintergrund Wrote: Carter wasn't wrong about the fact that the time was shitty. His problem: He had no clue how to solve it.

Actually, he had a pretty good handle on what needed doing, but he had no way to execute until he appointed Paul Volker as chairman of the Federal Reserve.  That was both gutsy and self defeating for him personally.  Reagan benefitted mightily, when Volker killed stagflation dead, but tanked the economy in the process.  Reagan got all the upside, and undeserved credit for creating prosperity.

Reagan actually took a lot of blame for that recession, since it mostly happened on his watch, even though it was caused by Volcker.  He got credit for pulling out of it because it was his fiscal policies that pulled us out of it, not Volcker's monetary policies.

David is right.

Thanks.
Intelligence is not knowledge and knowledge is not wisdom, but they all play well together.
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RE: A Malaise Speech for the Current Time - by David Horn - 07-16-2019, 10:40 AM

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